Electric Household Appliances Market Analysis

Electric Household Appliances Market Analysis

The air conditioners product segment is anticipated to rise during the forecast period impelled by rising temperatures and increasing income levels of the middle-class population. The construction activities followed by the improving living standards of the people will provide opportunities for the segment growth.
 

The cooking appliances segment is gaining popularity owing to increasing disposable incomes and lifestyle changes of consumers, reducing the price gap amongst the products offered by various companies. The cooking appliances consist of small products, such as coffeemakers, food processors, blenders, which are generally designed for countertops. These are less expensive and are used for specialty purposes.
 

India market is expected to witness a signficant demand through 2024 led by increasing disposable incomes and a significant rise in the demand in rural areas. In addition, government initiatives and the presence of a number of companies in India have also fueled the industry growth.
 

Government initiatives, such as Make in India campaigns, have caused many manufacturers to boost their local production capacity and set up new production facilities in the country. Furthermore, the increase in working women population has contributed to rise in the demand for electric cooking appliances and automatic washing machines.
 

The trend of increased spending of consumers is expected to drive the South Africa electric household appliances market revenue. South Africa is leading its regional counterparts in terms of cropping up of manufacturing centers.
 

Vicinity to Indian and Atlantic oceans, large population, and cheap labor are attracting several manufacturers from Europe and Asia Pacific. This is expected to reduce the cost of products, thus propelling the demand further. After catering to Asia Pacific markets, the technology product firms are now shifting their bases to Africa. Additionally, declining poverty levels are further driving the market in the region.