Overview and Scope
The white goods refer to large household appliances or electrical goods used for domestic purposes. Traditionally, white goods were made of enamel-coated materials that were white, but over time, white goods are available in multiple colors.
Sizing and Forecast
The white goods market size has grown strongly in recent years. It will grow from $659.62 billion in 2023 to $715.61 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to increased demand for urbanization, income growth, changing lifestyles, replacement cycles, energy management..
The white goods market size is expected to see strong growth in the next few years. It will grow to $990.08 billion in 2028 at a compound annual growth rate (CAGR) of 8.5%. The growth in the forecast period can be attributed to growing smart home integration, increasing e-commerce and online shopping, sustainability and eco-friendliness, health and hygiene features, remote diagnostics and maintenance. Major trends in the forecast period include smart and connected appliances, online retail and e-commerce, digital interfaces and touchscreen controls, remote diagnostics and maintenance, circular economy and recycling.
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Segmentation & Regional Insights
The white goods market covered in this report is segmented –
1) By Type: Cleaning Equipment, Preservation & Cooking Equipment, Heating & Cooling Equipment, Other Types
2) By Application: Offline Sales, Online Sales
3) By Distribution Channel: Supermarket & Hypermarket, Specialty Store, Retail Store, E-commerce, Other Distribution Channels
4) By End User: Private Sector, Domestic, Corporate, Public Sector, Government, Hospitals
Top Major Players
Blue Star Limited
Haier Group Corporation
LG Electronics Inc.
Samsung Electronics Co. Ltd.
Videocon Industries Limited
North America was the largest region in the white goods market in 2023. Asia-Pacific is expected to be the fastest-growing region in the white goods market report during the forecast period. The regions covered in the white goods market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The increase in the adoption of smart home appliances by customers to the reduced workload is expected to propel the growth of the white goods market. A smart home appliance is an electronic device connected to a central system that can be programmed or controlled remotely or function autonomously based on input from sensors, which detect temperature, light levels, or activity. Smart appliances are usually built to work with other smart devices, preferably part of a larger smart home system. There will be a significant demand for white goods in response to the rise in the adoption of smart home appliances. For instance, according to the smart home study published in Digitized House in May 2022, approximately 70% of consumers own at least one intelligent appliance product as the US has flying sales of intelligent appliances. In addition, the majority of customers still plan to add more such appliances in the future. Thus, the increase in the adoption of smart home appliances by customers is expected to drive the white goods market.
Key Industry Players
Major companies operating in the white goods market include Blue Star Limited, Haier Group Corporation, LG Electronics Inc., Samsung Electronics Co. Ltd., Videocon Industries Limited, Amica Wronki Spólka Akcyjna, Arçelik A.S., Robert Bosch GmbH, Candy Hoover Group S.r.l., Dacor Inc., Daewoo Electronics Corporation, AB Electrolux, Fisher & Paykel Appliances Holdings Limited, BSH Hausgeräte GmbH, General Electric Company, Groupe SEB, Hisense Group Co. Ltd., Hitachi Ltd., Whirlpool Corporation, Liebherr-International AG, Miele & Cie. KG, Panasonic Corporation, Sharp Corporation, Siemens AG, Smeg S.p.A., Sub-Zero Group Inc., Toshiba Corporation, Vestel Elektronik Sanayi ve Ticaret A.S., Vestfrost Solutions A/S
The white goods market report table of contents includes:
1. Executive Summary
2. White Goods Market Characteristics
3. White Goods Market Trends And Strategies
4. White Goods Market – Macro Economic Scenario
5. Global White Goods Market Size and Growth
…………………………
31. Global White Goods Market Competitive Benchmarking
32. Global White Goods Market Competitive Dashboard
33. Key Mergers And Acquisitions In The White Goods Market
34. White Goods Market Future Outlook and Potential Analysis
35. Appendix
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