Market Size of Israel Home Appliances Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | > 5.00 % |
| 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?
Israel Home Appliances Market Analysis
The Israel Home Appliances Market is expected to register a CAGR of greater than 5% during the forecast period(2024-2029).
The country's expanding tourism industry and the expat population are the main drivers of the market. People from other countries, young people, and people from working-class backgrounds made up a larger share of the growing population. Many large-scale malls and shopping centers are presently under development in Israel amid governments' and private players' investments in developing infrastructure to complement the growing population, a rising tourism sector, and increasing GDP per capita.
COVID-19 disrupted the global supply chain of major home appliances and consumer electronics brands. Due to the COVID-19 outbreak, the Israel home appliance industry faced a temporary period of insufficient production capacity in the first half of 2020; however, the market is again regaining its strength in the second half. Online retail channels witnessed a massive surge in demand as people tend to stay at home to quarantine themselves.
Increased international brands have intensified competition within the retail market. Increased penetration of various high-end retailers and demand for retail space have recently increased the rental rates in Israel. Furthermore, retailers are pressured by the new labor localization laws, market-priced utility costs, and new tax measures such as value-added tax (VAT).
Israel Home Appliances Industry Segmentation
The household appliances market covers appliances that are usually used in private households to perform various tasks such as cleaning, washing, cooking, and refrigeration. The Israeli Home Appliances
The Israeli Home Appliances Market Is Segmented By Product Type (Major Appliances (Refrigerators, Freezers, Dishwashing Machines, Washing Machines, Ovens, Air Conditioners, And Other Major Appliances), Small Appliances (Coffee/Tea Makers, Food Processors, Grills And Roasters, Vacuum Cleaners, And Other Small Appliances), And By Distribution Channel (Multi-Branded Stores, Flagship Stores, Specialty Stores, Online, And Other Distribution Channels). The Report Offers Market Size And Forecasts For The Israel Home Appliance Market In Volume (Number Of Products) And Value (USD) For All The Above Segments.
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Israel Home Appliances Market Size Summary
The Israel home appliances market is poised for significant growth, driven by factors such as an expanding tourism industry and a burgeoning expat population. The influx of young and working-class individuals has contributed to a larger consumer base, prompting substantial investments in infrastructure by both government and private sectors. This development is further supported by the increasing GDP per capita, which is enhancing consumer purchasing power. The market is witnessing a surge in online retail channels, a trend accelerated by the COVID-19 pandemic, which temporarily disrupted supply chains but ultimately led to a stronger recovery and increased demand for home appliances. The competitive landscape is intensifying with the entry of international brands, which has raised rental rates for retail spaces and introduced new challenges such as labor localization laws and market-priced utility costs.
In this dynamic market, refrigerators stand out as essential home appliances, with brands like Haier making significant inroads due to their advanced technology and localized strategies. Haier's success in Israel exemplifies its global leadership in the home appliance sector, setting a benchmark for quality and design. The Israeli e-commerce market is also experiencing robust growth, with consumers increasingly conducting online research before making purchases, a trend that is expected to translate into higher online transaction volumes. The market is characterized by fierce competition among various brands, including Candy Israel, Electrolux AB, Godrej Group, Haier Electronics Group Co. Ltd., and LG. Recent regulatory changes, such as the removal of import inspection requirements for electrical products, are expected to further stimulate market growth by facilitating easier access to a wider range of home appliances.
Israel Home Appliances Market Size - Table of Contents
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1. INDUSTRY DYNAMICS AND INSIGHTS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Value Chain/ Supply Chain Analysis
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1.5 Industry Attractiveness - Porter's Five Forces Analysis
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1.5.1 Bargaining Power of Buyers
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1.5.2 Bargaining Power of Suppliers
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1.5.3 Threat of New Entrants
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1.5.4 Threat of Substitutes
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1.5.5 Intensity of Competitive Rivalry
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1.6 Insights into Technological Advancements in the Industry
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1.7 Impact of COVID 19 On the Industry
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2. MARKET SEGMENTATION
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2.1 By Product Type
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2.1.1 Major Appliances
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2.1.1.1 Refrigerators
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2.1.1.2 Freezers
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2.1.1.3 Dishwashing Machines
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2.1.1.4 Washing Machines
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2.1.1.5 Ovens
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2.1.1.6 Air Conditioners
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2.1.1.7 Other Major Appliances
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2.1.2 Small Appliances
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2.1.2.1 Coffee/Tea Makers
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2.1.2.2 Food Processors
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2.1.2.3 Grills and Roasters
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2.1.2.4 Vacuum Cleaners
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2.1.2.5 Other Small Appliances
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2.2 By Distribution Channel
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2.2.1 Multi-Branded Stores
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2.2.2 Flagship Stores
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2.2.3 Specialty Stores
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2.2.4 Online
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2.2.5 Other Distribution Channels
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Israel Home Appliances Market Size FAQs
What is the current Israel Home Appliances Market size?
The Israel Home Appliances Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Israel Home Appliances Market?
Candy Israel, Electrolux AB, Godrej Group, Haier Electronics Group Co. Ltd. and LG are the major companies operating in the Israel Home Appliances Market.
