Sweden Home Appliances Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 1.5 Billion |
| Market Size (2029) | USD 1.84 Billion |
| CAGR (2024 - 2029) | 4.12 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Sweden Home Appliances Market Analysis
The Sweden Home Appliances Market size is estimated at USD 1.5 billion in 2024, and is expected to reach USD 1.84 billion by 2029, growing at a CAGR of 4.12% during the forecast period (2024-2029).
There is an increased demand for home appliances due to the rising awareness about smart homes and technology. The combination of IoT and AI kitchen appliances offers many features that make users' lives more accessible. The integrated technologies in home appliances help analyze data, identify patterns, and save energy consumption, which is aimed at environmental preservation because consumers are aware of the global warming effects and climate change; customers demand eco-friendly and energy-efficient products like intelligent home appliances, which optimize energy consumption through automation.
Factors like rising technological advancements, urbanization, per capita income, and living standards boost the market's growth. Home appliance manufacturers in Sweden are introducing innovative products that are energy-efficient and eco-friendly. Moreover, government initiatives to develop energy-efficient appliances in developed economies increase the opportunities for industry players.
Sweden Home Appliances Market Trends
Online Retailing Includes A Greater Potential For Market Growth.
Sweden is one of the most technologically advanced countries, and its consumers include a high level of e-commerce maturity. Sweden's consumers are among the most technologically savvy and affluent consumers in the world and are also the top users of eCommerce in Europe. Sweden boasts one of the highest internet penetration rates globally, with a tech-savvy population accustomed to online shopping. This widespread internet access provides a solid foundation for the growth of e-commerce. Online retailing offers unparalleled convenience and accessibility for consumers. Sweden is at the forefront of digital payment adoption, with widespread mobile payment solutions and a cashless society rapidly becoming the norm. This favourable payment infrastructure further facilitates online transactions and contributes to the growth of e-commerce.
E-commerce platforms provide access to a vast array of products and services, often with more extensive selections than traditional brick-and-mortar stores. This variety appeals to Swedish consumers who seek diverse options and niche products. Sweden's participation in cross-border e-commerce allows consumers to access products from international markets easily. This opens up additional opportunities for retailers to target Swedish consumers and vice versa, fostering market growth.
Most sales are driven by domestic store-based retailers in Sweden's home appliance sector. However, online retailing is gradually increasing year over year. Many international firms are working to close the gap even though the region is difficult to enter due to the population's extreme nationalism. With their aggressive price tactics and chances for rapid and same-day shipping, international manufacturers are attempting to enter the Swedish market.
Small Kitchen Appliances With High Quality Standards Are Capturing A Sizable Market Share.
Even though the major home appliances segment generates more revenue, the small appliances segment contributes the most to volume sales. Small appliances typically come with a shorter lifespan than larger ones and easily persuade customers to upgrade to newer models more frequently. Small kitchen appliances contain the highest sales volume in the small home appliances segment. Manufacturers are constantly attempting to capture this market by tailoring their products to Swedish interior design preferences, such as keeping them bright yet light in weight with sleek designs. Customers are also interested in products with advanced technology and connectivity features.
Sweden Home Appliances Industry Overview
The report includes an overview of the top players in the Home Appliances Market operating across Sweden, such as Panasonic Corporation, Whirlpool Corporation, LG Electronics, Samsung Electronics, and Electrolux AB. The Sweden home appliance industry is moderately consolidated and includes many local and regional players. Government partnerships and highly skilled labor boost the competitiveness of companies manufacturing large appliances in Sweden. Sweden comprises a high pool of skilled labor willing to work in the manufacturing sector, providing a cost advantage to the country.
Sweden Home Appliances Market Leaders
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Panasonic Corporation
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Whirlpool Corporation
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LG Electronics
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Samsung Electronics
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Electrolux AB
*Disclaimer: Major Players sorted in no particular order
Sweden Home Appliances Market News
January 2023: Liebherr-Hausgeräte GmbH launched the first vacuum perlite refrigerator. Liebherr is revolutionizing technology in its fridges and freezers, using a vacuum with finely ground lava stone, the raw material perlite, to insulate its appliances. The first vacuum perlite model, named BluRoX.
December 2022: LG Electronics (LG) unveiled the new LG InstaView French-Door refrigerator at CES 2023. They were helping users create a more stylish kitchen that sits flush with the cabinetry and enjoys an upgraded culinary life. The new counter-depth model offers large capacity and a simple yet elegant built-in design featuring a mirror InstaView panel and unobtrusive pocket handles. It also provides four different types of ice and keeps food fresh for longer with LG's advanced freshness technologies.
April 2022: OctoFrost Group, a globally recognized manufacturer of food processing equipment, launched Innovative Multi-Level Impingement Freezer.
Sweden 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 Value Chain Analysis
4.5 Industry Attractiveness: Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into Technological Advancements in the Industry
4.7 Insights on Various Regulatory Trends Shaping the Market
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Major Appliances
5.1.1 Refrigerators
5.1.2 Freezers
5.1.3 Dishwashing Machines
5.1.4 Washing Machines
5.1.5 Cookers and Ovens
5.2 By Small Appliances
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
5.2.8 Other Small Appliances
5.3 By Distribution Channel
5.3.1 Supermarkets and Hypermarkets
5.3.2 Specialty Stores
5.3.3 E-commerce
5.3.4 Other Distribution Channels
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 OPPORTUNTIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
Sweden Home Appliances Industry Segmentation
Home appliances are tools used to carry out domestic tasks, preserve food, clean, cook, and provide other human comforts. Household appliances include refrigerators, washers, air conditioners, microwaves, and vacuum cleaners. The report covers a complete background analysis of the Swedish home appliances industry. It includes an assessment of the industry associations, the overall economy, emerging market trends by segments, significant changes in the market dynamics, and a market overview.
The Sweden home appliances market is segmented by major appliances, small appliances, and distribution channels. By major appliances, the market is sub-segmented into refrigerators, freezers, dishwashing machines, washing machines, and cookers and ovens. The market is sub-segmented into small appliances such as vacuum cleaners, small kitchen appliances, hair clippers, irons, toasters, grills and roasters, hair dryers, and other small appliances. The distribution channel is the market sub-segmented into supermarkets and hypermarkets, specialty stores, e-commerce, and other distribution channels. The market size and forecasts regarding value (USD) for all the above segments are provided.
| By Major Appliances | |
| Refrigerators | |
| Freezers | |
| Dishwashing Machines | |
| Washing Machines | |
| Cookers and Ovens |
| By Small Appliances | |
| Vacuum Cleaners | |
| Small Kitchen Appliances | |
| Hair Clippers | |
| Irons | |
| Toasters | |
| Grills and Roasters | |
| Hair Dryers | |
| Other Small Appliances |
| By Distribution Channel | |
| Supermarkets and Hypermarkets | |
| Specialty Stores | |
| E-commerce | |
| Other Distribution Channels |
Sweden Home Appliances Market Research FAQs
How big is the Sweden Home Appliances Market?
The Sweden Home Appliances Market size is expected to reach USD 1.5 billion in 2024 and grow at a CAGR of 4.12% to reach USD 1.84 billion by 2029.
What is the current Sweden Home Appliances Market size?
In 2024, the Sweden Home Appliances Market size is expected to reach USD 1.5 billion.
Who are the key players in Sweden Home Appliances Market?
Panasonic Corporation, Whirlpool Corporation, LG Electronics, Samsung Electronics and Electrolux AB are the major companies operating in the Sweden Home Appliances Market.
What years does this Sweden Home Appliances Market cover, and what was the market size in 2023?
In 2023, the Sweden Home Appliances Market size was estimated at USD 1.44 billion. The report covers the Sweden Home Appliances Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Sweden Home Appliances Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Sweden Home Appliances Industry Report
Statistics for the 2024 Sweden Home Appliances market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Sweden 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.
