White Goods Market Forecast Analysis by Manufacturer, Types, Applications and Regions 2027
White Goods Market Overview:
A research team conducted extensive primary and secondary research for the global White Goods market analysis. Secondary research was carried out to supplement the available data, segment the market, calculate the overall market size, and forecast market size and growth rate.
Changes in the environment are rapidly increasing the demand for disposable income, urbanization and human comfort. These factors are driving the market growth of the white goods market.
Increasing demand for energy-saving home appliances and increased product sales led to the expansion of home appliance manufacturing bases in developing countries and supported the growth of the home appliance market.
Advanced technology products based on artificial intelligence and the Internet of Things have created new opportunities in the market, and AI-based refrigerators have helped the market growth of home appliances.
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White Goods Market Scope:
The study employs PESTLE analysis to evaluate the benefits and drawbacks of major market participants. The researcher carefully examines the size, share, trend, total profit, total revenue, and profit margin of the White Goods market in order to forecast the market and provide investment advice. Subject-matter experts provide market-change advice.
In addition to data on capacity and production, price and cost information, company profiles, product images, specifications, and contact information, the report includes details on the major market participants. The White Goods market is examined for trends, size, and value at the global, regional, and corporate levels in this report. This study examines the global market for White Goods using historical data and future projections.
White Goods Market Segmentation:
Specialty stores held a 36.2% share of the white goods market according to Distribution Channel in 2020. Focusing on a particular type of product category and having the ability to contrast features and appearance between various brands are what are driving the segment's market expansion. The market is also being driven forward by factors such as after-sales services, spare part availability, and other things.
The projected period will see e-commerce expand at a CAGR of 8.1%. Through the course of the forecast period, market growth is anticipated to be fueled by high internet and smartphone penetration, technological advancements, home delivery, return policies, and other factors.
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White Goods Market Key players:
- Samsung
- Sharp Corporation
- LG Electronics
- Hitachi, Ltd
- Robert Bosch GMBH
- Symphony Limited
- Blue Star Limited
- Godrej & Boyce Mfg. Co. Ltd.
- AB Electrolux
COVID-19 Impact on White Goods market:
The outbreak of COVID-19 has had a significant impact on the White Goods market. The development of White Goods production facilities has been halted due to the global economic downturn and a labour shortage. The COVID-19 pandemic has resulted in a significant and long-term decrease in production utilisation. Furthermore, travel restrictions and facility closures have hampered staff visits to their facilities, limiting the growth of the White Goods market in 2020. However, given the high demand for White Goods, COVID-19's market effects are expected to be transitory. The industry is expected to fully recover by the beginning of 2021.
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