World Major Household Appliances

Countries covered: Global World demand to rise 3.6% annually through 2015 World demand for major household appliances (white goods) is forecast to rise 3.6 percent annually through 2015, exceeding 400 million units. The bedrock US market will show strong recovery from recent declines, benefitting from improved macroeconomic factors. Housing starts are expected to recover by 2015, boosting demand as a matter of course. In addition, consumer confidence is expected to rebound, encouraging consumers to trade up to newer and improved equipment. Gains are expected to be more modest in other developed nations. India to be fastest growing market India will be the world's fastest growing market, benefitting from rising standards of living, which will spur first-time appliance ownership. Growth in China, the world's largest market, will slow significantly based on growing rates of ownership. However, the country will still provide above-average gains in demand through 2015 due to rising use in rural areas. Advances in Western Europe will benefit from strong growth in the number of new housing units, but will lag the overall global average. Production to continue shifting to developing areas China is the world's largest supplier of white goods, nearly tripling production from 2000 to 2010. Multinational producers are expected to continue shifting production to developing areas to reduce costs, which enables lower-priced goods to be offered in these nations. China is expected to benefit from this trend, although other Asian nations will see growth as well. New technology to continue shaping premium products Technology will continue to be a key factor in the industry. For example, some suppliers are targeting the lucrative European market with internet-connected and automatically controlled equipment. Asian suppliers such as LG Electronics may especially benefit, since consumer familiarity with these companies' electronics brands will provide opportunities for market penetration. Even in developing areas, manufacturers are turning to premium products to increase profit margins. However, manufacturers will continue to produce less-advanced products that are designed for lower income consumers, especially in developing nations. Please Note: Freedonia requires that, for PDF orders, clients sign a confidentiality agreement prior to fulfillment of PDF email delivery.

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PRESS RELEASE

World Demand for Major Household Appliances to Reach 395 Million Units in 2015

World demand for major household appliances (white goods) is forecast to rise 3.4 percent annually through 2015 to 395 million units. The bedrock US market will show strong recovery from recent declines, benefiting from improved macroeconomic factors. Housing starts are expected to recover in developed areas such as the US and Western Europe by 2015, boosting demand as a matter of course. Consumer confidence is expected to rebound, encouraging consumers to trade up to newer and improved equipment. These and other trends are presented in World Major Household Appliances, a new study from The Freedonia Group, Inc., a Clevelandbased industry research firm.

India will be the world’s fastest growing market, fueled by rising standards of living, which will spur first-time appliance ownership. Gains in developing areas such as the Africa/Mideast region will also be stimulated by rising standards of living. Advances in Western Europe will benefit from strong increases in the number of new housing units, but will lag the overall global average due to the relative maturity of most appliance types.

Although growth in China will be strong in the immediate future, advances through 2015 will lag the global average, reflecting a cooldown from the torrid pace of increase from 2005 to 2010. Gains will be constrained by the large stock of white goods that has been sold in recent years. Ownership rates in some categories have grown tremendously, limiting the potential for new ownership. In addition, the Chinese government’s stimulus incentives for the purchase of white goods will expire in 2012.

Technology will continue to be a key factor in the industry. For example, “smart” appliances are expected to become a significant factor in developed world markets. These appliances offer advanced features and will enable firms to sell at higher price points. At the other end of the spectrum, manufacturers will produce low cost no-frill appliance designs in order to attract first-time buyers in developing nations.

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