Market Size of Germany Home Appliances Industry
Study Period | 2020 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
Historical Data Period | 2020 - 2022 |
CAGR | 2.64 % |
Market Concentration | Medium |
Major Players*Disclaimer: Major Players sorted in no particular order |
Germany Home Appliances Market Analysis
Germany Home Appliances Market has generated a revenue of USD 13 Billion in the current year and is poised to achieve a CAGR of 2.64% for the forecast period. The German home appliances market is a mature and dynamic kind. The home appliances industry has been subdivided into two major parts - household appliances and kitchen appliances. Household appliances, also known as white goods, include refrigerators, washing machines, vacuum cleaners, and others. The other segment includes water heaters, purifiers, iron, and more. The kitchen appliances include microwave ovens, stoves and ovens, hoods, dishwashers, and other appliances like blenders, mixers, toasters, and more. Small household appliances such as blenders, toasters, mixers, and many more also support the growth of the overall home appliances industry in Germany but at a slow pace.
In most European countries, the products which are manufactured by a local vendor have comparatively good preference than that of the others which clearly signifies their preference to encourage their own domestic market. Local manufacturers can never get a good market share unless the products are qualitative are have affordable prices. This, in short, can be explained as the Germans prefer to use products that have features like flexibility, multi-utilization/ multi-functional features, convenience to use, eco-friendly, less energy-utilization and are of low/reasonable cost. E-commerce also has a greater scope in Germany but only when they assure German's personal/banking data is protected and not subjective to openness at any of the digital or any other platforms.
As the COVID-19 crisis hit Germany, health and hygiene became hot topics, leading consumers to stockpile products. With the increased time spent at home, sales of various products associated with the home also went up, such as dishwashing products, with projected value growth within 7-9%, due to consumers cooking more meals at home as the result of closure of various consumer foodservice outlets for almost two months and more cautious perception of eating out even when outlets reopened.
Stable growth is anticipated in the major product segment in Germany. Factors such as changing lifestyle, increasing purchasing power, and migration of rural people to urban areas are responsible for the market growth. Demand for household appliances depends on remodeling and renovation of homes, consumer income, and changing the appliance, due to breakdown. The major domestic household appliances market is anticipated to increase rapidly during the forecast period.
Germany Home Appliances Industry Segmentation
A complete background analysis of the Germany 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 market is segmented by Major Appliances (Refrigerators, Freezers, Dishwashing Machines, Washing Machines, and Cookers & Ovens), Small Appliances (Vacuum Cleaners, Small Kitchen Appliances, Hair Clippers, Irons, Toasters, Grills & Roasters, and Hair Dryers), Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, E-Commerce and Others). The report offers market size and forecasts for Germany Home Appliances Market in value (USD Million) for all the above segments.
Major Appliances | |
Refrigerators | |
Freezers | |
Dishwashing Machines | |
Washing Machines | |
Cookers & Ovens |
Small Appliances | |
Vacuum Cleaners | |
Small Kitchen Appliances | |
Hair Clippers | |
Irons | |
Toasters | |
Grills & Roasters | |
Hair Dryers | |
Others |
Distribution Channel | |
Supermarkets & Hypermarkets | |
Specialty Stores | |
E-Commerce | |
Others |
Germany Home Appliances Market Size Summary
The German home appliances market is characterized by its maturity and dynamism, encompassing both household and kitchen appliances. Household appliances, often referred to as white goods, include essential items such as refrigerators, washing machines, and vacuum cleaners, while kitchen appliances cover a range of products from microwave ovens to dishwashers. The market is influenced by consumer preferences for locally manufactured products, which are favored for their quality, affordability, and features like energy efficiency and multifunctionality. The rise of e-commerce presents opportunities, provided that consumer concerns about data security are addressed. The COVID-19 pandemic has further driven demand for home appliances, as increased time at home led to higher consumption of products like dishwashing appliances, reflecting a shift towards home cooking and heightened health and hygiene awareness.
The market is expected to experience stable growth, driven by factors such as changing lifestyles, increased purchasing power, and urban migration. The demand for household appliances is closely linked to home renovations, consumer income, and the need for replacements due to appliance breakdowns. Energy efficiency is a significant concern, prompting the adoption of smart home appliances that offer connectivity and energy-saving features. The popularity of smart appliances is bolstered by advancements in IoT technology and the growing trend of smart homes. The market is fragmented, with both local and global players like Panasonic, LG Electronics, Electrolux, Samsung, and Whirlpool leading the way. Innovation and strategic partnerships, such as those between Samsung and ABB Group, and LG and Amwell, are key drivers of growth, enhancing product offerings and expanding market reach.
Germany Home Appliances Market Size - Table of Contents
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1. MARKET INSIGHTS AND DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Opportunities
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1.4 Market Restraints
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1.5 Insights on impact of technology in the Market
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1.6 Porters 5 Force Analysis
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1.6.1 Threat of New Entrants
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1.6.2 Bargaining Power of Buyers
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1.6.3 Bargaining Power of Suppliers
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1.6.4 Threat of Substitutes
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1.6.5 Intensity of Competitive Rivalry
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1.7 Impact of Covid 19 on the market
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2. MARKET SEGMENTATION
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2.1 Major Appliances
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2.1.1 Refrigerators
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2.1.2 Freezers
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2.1.3 Dishwashing Machines
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2.1.4 Washing Machines
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2.1.5 Cookers & Ovens
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2.2 Small Appliances
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2.2.1 Vacuum Cleaners
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2.2.2 Small Kitchen Appliances
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2.2.3 Hair Clippers
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2.2.4 Irons
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2.2.5 Toasters
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2.2.6 Grills & Roasters
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2.2.7 Hair Dryers
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2.2.8 Others
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2.3 Distribution Channel
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2.3.1 Supermarkets & Hypermarkets
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2.3.2 Specialty Stores
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2.3.3 E-Commerce
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2.3.4 Others
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Germany Home Appliances Market Size FAQs
What is the current Germany Home Appliances Market size?
The Germany Home Appliances Market is projected to register a CAGR of 2.64% during the forecast period (2024-2029)
Who are the key players in Germany Home Appliances Market?
Panasonic Corporation, LG Electronics, Electrolux AB, Samsung Electronics and Whirlpool Corporation are the major companies operating in the Germany Home Appliances Market.