The Sweden home appliances market size is anticipated to expand at significant CAGR during forecast period 2021–2028. Growth of the market is attributed to increasing urbanization, emerging demand for smart appliances, and increasing living standard of consumers.
Request Free Sample Report Here
A home appliance is also known as a domestic appliance, electric appliance, and household appliance. It helps in residential work like cooking, cleaning, and preservation of food.
The covid-19 pandemic affected the demand and supply of Sweden home appliances market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Continually growing population and increasing consumer purchasing capacity is anticipated to boost the market during the forecast period.
- Rising replacement sales in developed country is major factor fueling the market in the coming years.
- Lack of awareness about development in home appliances is projected to restrict the market expansion.
- High cost of products is estimated to hinder the market growth during the forecast period.
- R&D investment and technological advancement in home appliances is anticipated to create lucrative opportunities for the market players.
Market Segment Insights
The freezers segment accounts for significant share of the market
On the basis of major appliances, the Sweden home appliances market is fragmented into freezers, dishwashing machines, washing machines, refrigerators, and cookers & ovens. The freezers segment accounts for a significant share of the market. Growth of the market is attributed to increasing living standards of consumers and rising awareness about advantages of home appliances. The washing machines segment is projected to expand at a rapid pace in the coming years due to factors like rising disposable income and customers focused on energy-efficient products.
The small kitchen appliances segment accounts for major share of the market
Based on small appliances, the market is categorized into small kitchen appliances, toasters, hair dryers, irons, vacuum cleaners, roasters & grills, hair clippers, and others. The small kitchen appliances segment accounts for a major share of the market. Growth of the market is attributed to increasing penetration and growing demand for advanced & innovative products.
The e-commerce segment is projected to hold a key share of the market
On the basis of distribution channels, the Sweden home appliances market is divided into e-commerce, hypermarket & supermarket, exclusive stores?, and others. The e-commerce segment accounts for a key share of the market. Growth of the market is attributed to high demand for washing machine and rising investment by emerging countries. The hypermarket & supermarket segment is projected to expand at a rapid pace during the forecast period due to factors such as changing consumer preference and rising economies.
Competitive Landscape
Key players competing in the Sweden home appliances market include Panasonic Corp.; Haier Electronic Group Co. Ltd.; Electrolux AB; Gorenje Group; Candy Group; Arcelik AS; BSH Hausgerate GmbH; LG Electronics; Samsung Electronics Co. Ltd; Liebherr Group; Mitsubishi Electric Corp.; and Whirlpool Corp.
About Growth Market Reports:
GROWTH MARKET REPORTS provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Industry Intelligence Solutions”. GROWTH MARKET REPORTS has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. Our key analysis segments, though not restricted to the same, include market entry strategies, market size estimations, market trend analysis, market opportunity analysis, market threat analysis, market growth/fall forecasting, primary interviews, secondary research & consumer surveys.
Contact:
Growth Market Reports
Phone: +1 909 414 1393
Email: [email protected]
Web: https://growthmarketreports.com
