Colombia Home Appliances Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Colombia Home Appliances Market Analysis
Colombia Home Appliances Market is expected to register a CAGR of 4% over the next five years. The home appliances market in Colombia is a dynamic market with enormous scope to expand. Improving technological innovations are shaping the market at a global level. The sales in the region are highly driven by the innovation that is being introduced in the new products that are being launched. The growing environmental concerns are making the Colombians switch to products that conserve less electricity and water.
Colombian consumers are strongly influenced by brands, fashion trends, and promotions, yet there is also a strong influence of traditions on them. The increasing levels of brand loyalty are also being seen in the region. The brands which offer value-added services, like periodic after-sale service, extended warranty, replacing a faulty part if required, and simple and quick procedures of communication and servicing, are the factors that affect the consumers' decision-making once they get a product that fits their requirement of quality and price.
COVID-19 had a considerable impact on Colombia's home appliances market. Struggles with supply chain disruption, lower consumer demand, and travel restrictions significantly impacted the country.
Now, direct-to-consumer channels are powering a growing share of large appliance sales, putting manufacturers under intense pressure to reshape their strategies. E-commerce is playing a vital role in the home appliances industry.
Colombia Home Appliances Market Trends
This section covers the major market trends shaping the Colombia Home Appliances Market according to our research experts:
Demand on Major Appliance in Household Appliances
The convenience the product brings to the consumers' life makes them go for it. Small home appliances come with a shorter lifespan, which makes it easy for the consumer to replace or exchange them for a newer model. Rather than single-utility choices making a transition, they are shifting to an innovative and energy-efficient product for their daily utilization. Products like egg cookers are the best example that explains the increasing manufacturers' interest to focus more on automating people's daily activities by taking a load off their shoulders. They are also imCustomers'ing accuracy and are bringing innovation by producing multi-utility products manufacturers.
Increase in number of Users in Major Household Appliances
In the Household Appliances segment, the number of users is expected to reach 20 million users by 2027. Major Appliances is the top segment which has more than one-third of the total market. User penetration is expected to grow positively in the forecasted period. The eCommerce market sub-segment Household Appliances covers the online sale of long-lasting home appliances that are usually used in private households.
Colombia Home Appliances Industry Overview
The report covers major international players operating in the Colombian home appliances market. The market holds an enormous scope for newcomers to enter by introducing home appliance products that have high quality and innovative features. Following is the list of the top significant companies operating in Colombia. list includes BSH Hausgeräte GmbH, Whirlpool Corporation, Electrolux AB, LG Electronics, and Samsung Electronics.
Colombia Home Appliances Market Leaders
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Whirlpool Corporation
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Electrolux AB
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LG Electronics
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Samsung Electronics
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Panasonic Corporation
*Disclaimer: Major Players sorted in no particular order
Colombia Home Appliances Market News
- February 2023: LG Electronics (LG) is showcasing its latest heating, ventilation, and air conditioning (HVAC) solutions at AHR Expo 2023, the U.S.'s largest HVAC event, taking place in Atlanta, from February 6-8. The company's higher efficiency, customized solutions for commercial and residential applications are on display across two exhibition booths: the HVAC Solution booth and the Component Solutions booth
- January, 2023:Samsung Electronics Co., Ltd. is showcasing the future of sustainable digital signage at Integrated Systems Europe (ISE) 2023 in Barcelona, with new technologies and sustainable efforts guided by the company's new environmental strategy.
Colombia Home Appliances Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Insights on Various Regulatory Trends Shaping the Market
4.5 Insights on impact of technology in the Market
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 Major Appliances
5.1.1 Refrigerators
5.1.2 Freezers
5.1.3 Dish-washing Machines
5.1.4 Washing Machines
5.1.5 Cookers and Ovens
5.2 Small Appliance
5.2.1 Vacuum Cleaners
5.2.2 Small Kitchen Appliances
5.2.3 Hair Clippers
5.2.4 Irons
5.2.5 Toasters
5.2.6 Grills and Roasters
5.2.7 Hair Dryers
5.3 Distribution Channel
5.3.1 Supermarkets and Hypermarkets
5.3.2 Specialty Stores
5.3.3 E-commerce
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Whirlpool Corporation
6.2.2 Electrolux AB
6.2.3 LG Electronics
6.2.4 Samsung Electronics
6.2.5 Panasonic Corporation
6.2.6 Haier Electronics Group Co. Ltd
6.2.7 BSH Hausgeräte GmbH
6.2.8 Arcelik AS
6.2.9 Gorenje Group
6.2.10 Mitsubishi Electric Corporation*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Colombia Home Appliances Industry Segmentation
A home appliance is a device that helps with household chores, including cooking, cleaning, and food preservation. It is also known as a domestic appliance, an electric appliance, or a household appliance. A complete background analysis of the Colombian home appliances industry, which includes an assessment of the industry associations, overall economy, emerging market trends by segments, significant changes in the market dynamics, and market overview, is covered in the report. The Colombia Home Appliances Market is segmented by major appliances (Refrigerators, Freezers, Dishwashing Machines, Washing Machines, and Cookers and Ovens), by small appliances (Vacuum Cleaners, Small Kitchen Appliances, Hair Clippers, Irons, Toasters, Grills and Roasters, and Hair Dryers), by distribution channel (Supermarkets and Hypermarkets, Specialty Stores, E-commerce, and other distribution channels). The report offers market size and forecasts for the Colombia Home Appliances Market in value (USD Million) for all the above segments.
| Major Appliances | |
| Refrigerators | |
| Freezers | |
| Dish-washing Machines | |
| Washing Machines | |
| Cookers and Ovens |
| Small Appliance | |
| Vacuum Cleaners | |
| Small Kitchen Appliances | |
| Hair Clippers | |
| Irons | |
| Toasters | |
| Grills and Roasters | |
| Hair Dryers |
| Distribution Channel | |
| Supermarkets and Hypermarkets | |
| Specialty Stores | |
| E-commerce |
Colombia Home Appliances Market Research FAQs
What is the current Colombia Home Appliances Market size?
The Colombia Home Appliances Market is projected to register a CAGR of greater than 4% during the forecast period (2024-2029)
Who are the key players in Colombia Home Appliances Market?
Whirlpool Corporation, Electrolux AB, LG Electronics, Samsung Electronics and Panasonic Corporation are the major companies operating in the Colombia Home Appliances Market.
What years does this Colombia Home Appliances Market cover?
The report covers the Colombia Home Appliances Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Colombia Home Appliances Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Colombia Home Appliances Industry Report
Statistics for the 2024 Colombia Home Appliances market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Colombia Home Appliances analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
