Asia-Pacific Major Home Appliance Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Asia-Pacific Major Home Appliance Market Analysis
Asia-pacific major home appliances grew at moderate rates in the past due to low per capita spending on the major appliances, therefore the market has immense potential for growth. The main driving factors are an innovation by the manufacturers in the market is driven by the rising housing stock, rising housing income, and growing premiumization across households in the region.
High brand recognition is seen in the region with companies catering to the demand by developing products according to the taste and preferences of the consumer in the developed markets. While positive growth has been observed in the developing nation due to rising income levels.
Countries in the region are within different growth stages while developed markets have entered into premiumization, multifunctional, and customized smart appliances that will further drive the growth of large appliances in the market.
Asia-Pacific Major Home Appliance Market Trends
This section covers the major market trends shaping the APAC Major Home Appliance Market according to our research experts:
Rising Exports of Refrigerator and Freezer Home Appliances from Asia-Pacific Region
There has been a rise in overall exports of refrigerators and freezers in 2019 with a 13.8% increase from the period over the last five years. However, y-oy, the value of globally exported refrigerators and freezers fell by -0.8% from 2018 to 2019. China is leading the country in Asia- Pacific market in terms of exports of refrigeration appliances. Overall Asia held the largest share amounting to 42% share of the total exports worldwide.
A fridge or refrigerator is considered an essential home appliance for many countries in Asia- Pacific region countries some of them include China and India. The COVID-19 pandemic has also led to the rise in the sale of refrigerators in the region as many nations and people facing the pandemic are stocking up on essentials and hence raising the demand for refrigeration appliances. The online distribution channel is seeing a huge demand for the buying and selling of large appliances as they are cost-effective.
Increase in Number of Households Driving the Market
China is the largest market for household appliances among other Asia-Pacific countries and major manufacturers in the region. Increasing household innovation along with rising urbanization in advanced and innovative household solutions are projected to fuel the product demand. The rising number of households is expected to demand large home appliances such as air conditioners, refrigerators, washing machines, and microwave ovens in the category.
Asia-Pacific Major Home Appliance Industry Overview
Brands are focusing on offering consumer's experience while organizing several arts and exhibitions in the market. Online retailers in the market are partnering with offline retailers to display their products. regional and local brands dominate the major appliances market in the Asia- Pacific market including Midea, Haier, Hisense, Gree, from China, Samsung and LG from Korea, Videocon from India, and Hitachi from Japan. The market is highly innovative and manufacturers are opting for low-cost pricing, innovation, and differentiation to promote the sale of their appliances and also customize products according to clients' requirements.
Asia-Pacific Major Home Appliance Market Leaders
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Midea Group
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Haier lnc.
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Videocon Industries
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Samsung
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LG Electronics
*Disclaimer: Major Players sorted in no particular order
Asia-Pacific Major Home Appliance Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET INSIGHTS
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4.1 Market Overview
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4.2 Drivers
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4.3 Restraints
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4.4 Opportunities
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4.5 Value Chain Analysis
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4.6 Porter's Five Forces Analysis
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4.7 Insights on Impact of COVID-19 on the Market
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4.8 Insights on Consumer Expenditure on Home Appliances
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4.9 Technology Innovations in the Industry
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4.10 Insights on Built-in Major Appliances in the region
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4.11 Insights on Government Regulations in the Market
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5. MARKET SEGMENTATION
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5.1 By Product
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5.1.1 Refrigerators
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5.1.2 Freezers
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5.1.3 Dishwashing Machines
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5.1.4 Washing Machines
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5.1.5 Cookers and Ovens
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5.1.6 Air- Conditioners
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5.1.7 Others
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5.2 By Distribution Channel
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5.2.1 Others
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5.2.2 Speciality Stores
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5.2.3 Hypermarkets/ Supermarkets
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5.2.4 Online
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5.2.5 Others
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5.3 By Region
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5.3.1 China
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5.3.2 India
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5.3.3 Japan
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5.3.4 South Korea
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5.3.5 Australia
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5.3.6 Malaysia
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5.3.7 Thailand
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5.3.8 Indonesia
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5.3.9 Singapore
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5.3.10 Others
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6. COMPETITIVE LANDSCAPE
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6.1 Market Concentration Overview
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6.2 Company Profiles
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6.2.1 LG Corporation
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6.2.2 Midea Group
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6.2.3 Haier(GE)
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6.2.4 Siemens
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6.2.5 Gree Electric Appliance
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6.2.6 Panasonic
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6.2.7 Philips
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6.2.8 Samsung Electronics
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6.2.9 LG Electronics
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6.2.10 Prestige LKK
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6.2.11 Tiger Corporation
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6.2.12 Robert Bosch GmbH
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6.2.13 Whirlpool Corporation
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6.2.14 AB Electrolux
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6.2.15 Videocon
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6.2.16 Hisense
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6.2.17 Hitachi
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- *List Not Exhaustive
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7. FUTURE OF THE MARKET
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8. DISCLAIMER
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9. APPENDIX
Asia-Pacific Major Home Appliance Industry Segmentation
A complete background analysis of Asia-Pacific Home Appliances market, which includes an assessment of the National accounts, economy, and the emerging market trends by segments, significant changes in the market dynamics, and the market overview is covered in the report.
| By Product | |
| Refrigerators | |
| Freezers | |
| Dishwashing Machines | |
| Washing Machines | |
| Cookers and Ovens | |
| Air- Conditioners | |
| Others |
| By Distribution Channel | |
| Others | |
| Speciality Stores | |
| Hypermarkets/ Supermarkets | |
| Online | |
| Others |
| By Region | |
| China | |
| India | |
| Japan | |
| South Korea | |
| Australia | |
| Malaysia | |
| Thailand | |
| Indonesia | |
| Singapore | |
| Others |
Asia-Pacific Major Home Appliance Market Research FAQs
What is the current Asia-Pacific Major Home Appliance Market size?
The Asia-Pacific Major Home Appliance Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Major Home Appliance Market?
Midea Group, Haier lnc., Videocon Industries, Samsung and LG Electronics are the major companies operating in the Asia-Pacific Major Home Appliance Market.
What years does this Asia-Pacific Major Home Appliance Market cover?
The report covers the Asia-Pacific Major Home Appliance Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Major Home Appliance Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Major Home Appliance Industry Report
Statistics for the 2024 Asia-Pacific Major Home Appliance market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Major Home Appliance analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
