Europe Laundry Appliances Market - By Products, Distribution Channels, Countries and Vendors - Market Trends and Forecasts (2017 - 2022)
According to a report, laundry accounts for every US$ 5 out of US$ 10 spent on home care in the US. The Western Europe mimics the North American market in terms of penetration and market concentration, purchasing power and standards of living. In this market, laundry appliance market share is being acquired and maintained through M&As, frequent product launches, and other aggressive methods. Several Eastern European as well as Western European countries are involved in product manufacturing. Fully automatic washing machines and dryers continued to remain more in demand, while the trend of purchasing front loading machines is tapering in favour of top loading machines.
The Europe laundry appliances market is valued at US$ XX billion in 2014 and is projected to witness CAGR of XX.XX% for the forecast period (2017 - 2022). More than half of the appliance market constitutes of automatic washing machines, followed by low/no frills washing machines and irons.
Trends include innovating for increase efficiency and energy efficiency, as well as water consumption, due to environmental guidelines highlighted by several governments. Smart appliances trend is pervasive through usage of sensors, and other components used in smart technology. This market, dependent on real estate growth, both purchase and rental refurbishing, is also innovating for smaller appliances, because of differing housing arrangements across the region.
Distribution, depending on the region, is prevalent through large retail chains which offer heavy discounts due to manufacturer tie-ups, as well as economies of scale, or through ecommerce, which in several regions offer competitively discounted prices, as well as attractive credit schemes. Private label goods, through innovative card schemes are also popular in several regions.
Reputed brands mentioned in the report include Haier, Midea, LG, Samsung, Panasonic, Electrolux, Kelvinator, Whirlpool and Maytag along with other regional manufacturers and brands.
A flourishing real estate market pushing fresh or replacement purchases, increased R&D for laundry appliances, increasing purchasing power, increasing urbanization, aggressive marketing, credit and discounts available are some of the drivers of this market.
High level of competition across all product classes and in new and saturated markets alike, insufficient innovations in the mass market product range, are some of the challenges being faced in this market.
What the report offers
Market definition for the laundry appliances market along with identification of key drivers and restraints for the market
Market analysis for the laundry appliances market with region specific assessments
identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale
Extensively researched competitive landscape section with profiles of major companies along with their strategic initiatives and market shares
Identification and analysis of the macro and micro factors that affect the laundry appliances market on both global and regional scale
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information