Press release
Home Appliance (Wet and Cold) Market : Industry Development Scenario and Forecast to 2030
Home Appliance (Wet and Cold)
The global wet and cold appliances market is going through solid growth with the better disposable income levels in a number of countries, rising middle-class economy, busier lifestyles, and the availability of a range of wet and cold appliances at competitive prices. With the rising digitalization, consumers have become more tech-savvy and have robust knowledge associated with the use and benefits of all modern wet and cold appliances. In wet and cold appliances wireless technologies such as Bluetooth, Wi-Fi, and ZigBee used in or accessed by tablets and smartphones. But the insertion of such technologies in wet and cold appliances such as refrigerator and washing machine is a means of product differentiation by manufacturers that is attracting technology oriented consumers. Consumers are progressively adopting wireless and technologically advanced products, mostly for the convenience it offers.
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The top companies in the wet and cold appliances market are the South Korean multinational companies such as LG Electronics and Samsung, Whirlpool, and the German Bosch and Siemens Group. Refrigerators, Washing machines, and dishwasher are projected as the main appliance categories within the wet and cold appliances market. Economic development in Asian countries such as India and China is expected to boost the wet and cold appliance market demand. Rising population, strong economic growth, and swift infrastructure development is also likely to positively impact market growth in the coming years. Industry participants emphasize on product innovation and development, new introduction of product to remain in the competition.
In terms of geography, Asia Pacific accounted for the major share in the wet and cold appliance market in 2018. Adoption and usage of wet and cold appliances such as domestic refrigerators and washing machines is high in the region; also, demand is projected to be high for smart wet and cold appliances such as smart refrigerators and smart washing machines in this region during the forecast period. Wet and cold appliances in Europe have reached the targeted growth phase due to a strong product pipeline and well-established portfolio management approach. Rising disposable income and introduction of efficient wet and cold appliances are likely to drive the wet and cold appliance market at a good pace. Key trends supporting the growth of the market includes increase in the usage of Internet of Things (IoT), and growth of wireless communication technology.
In terms of type, the domestic refrigerator segment expected to have the highest CAGR over the forecast period. The growth of this segment is attributed to major adoption and increased usage of refrigerators in households in Europe and Asia Pacific. Also, rise in consumer spending power and ease of financing schemes tends to increase the growth of the domestic refrigerator market.
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The wet and cold appliance industry is characterized by a number of local and regional players and intense competition among them. Some of the industry participants in the global wet and cold appliance market are AB Electrolux, Videocon Industries Ltd., Haier Group Company, LG Electronics, Philips Electronics, Whirlpool Corporation, Panasonic Corporation, Robert Bosch GmbH, Sharp Corporation, Sub-Zero Wolf, Daewoo Electronics Corporation, and Samsung.
Market Segmentation
Global Wet and Cold Appliance Market, by Type
Dishwasher
Built-in Standard Dishwasher
Drying with Ventilation
Drying Without Ventilation
Countertop Dishwasher
Drying with Ventilation
Drying Without Ventilation
Drawer Dishwasher
Drying with Ventilation
Drying Without Ventilation
Cloth Dryer
Vented
Condenser
Washing Machine
Front Loading
Top Loading
Domestic Refrigerator
Top Freezer
Static Cooling
Dynamic Cooling
Bottom Freezer
Static Cooling
Dynamic Cooling
Side-by-side
Static Cooling
Dynamic Cooling
Built-in
Static Cooling
Dynamic Cooling
Compact
Static Cooling
Dynamic Cooling
Global Wet and Cold Appliance Market, by Geography
North America
Wet and Cold Appliance Market, by Type
Wet and Cold Appliance Market, by Country/Region
U.S.
Canada
Rest of North America
Europe
Wet and Cold Appliance Market, by Type
Wet and Cold Appliance Market, by Country/Region
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia Pacific
Wet and Cold Appliance Market, by Type
Wet and Cold Appliance Market, by Country/Region
China
India
Japan
Indonesia
Rest of Asia Pacific
Middle East & Africa
Wet and Cold Appliance Market, by Type
Wet and Cold Appliance Market, by Country/Region
UAE
Saudi Arabia
South Africa
Rest of Middle East & Africa
South America
Wet and Cold Appliance Market, by Type
Wet and Cold Appliance Market, by Country/Region
Brazil
Rest of South America
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About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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