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Global Market for Major Electric Household Appliances to Cross 498 Million Units by 2010, According to a New Report by Global Industry Analysts, Inc.
San Jose, CA (PRWEB) March 10, 2008 -- World market for Major Electric Household Appliances (http://www.strategyr.com/Electric_Household_Appliances_Market_Report.asp) is forecast to maintain a CAGR of over 3.04% over the years 2000-2010 and reach in excess of 498 million units by the end of the decade. Sales of Refrigerators, Microwave Ovens, and Room ACs are expected to burgeon at impressive rates, owing to overwhelming demand for such products in developing nations of Asia-Pacific and Latin America.
Emerging markets in Asia-Pacific region, especially China and India, are expected to tap upcoming demand from urbanization and increasing household numbers. Robust growth in home appliances sales is also expected in Latin America. Powered by increasing per capita income, a moderate growth is expected for home appliances market in Eastern Europe, Middle East and Africa, while North America and Western Europe exhibit saturated demand.
Global Small Electric Household Appliances market (http://www.strategyr.com/Electric_Household_Appliances_Market_Report.asp) is projected to reach about 575.6 million units by 2010, growing at a compounded annual rate of 2.54%. In the small appliances category, Electric Irons constitutes the largest segment followed by Coffee Makers, and Toasters. Asia-Pacific market is likely to register impressive growth rates during the forecast period, and by 2010, the small electric household appliances market in Asia-Pacific region is projected to reach about 174 million units.
China's entry into the WTO has heralded a new era for industries across the globe. The once closed doors of this gigantic economy are now open for entry and this provides a tremendous opportunity for major companies to set up business establishments. China is home to one of the largest electric and electronic appliances market, ranging from air conditioners to computers to mobile phones in addition to a host of other products. High level of growth in the Chinese economy has contributed on a worldwide basis as well, spurring consumer demand in other developing nations. China dominates the global home appliances market, in terms of production.
Despite a rise in global demand for home appliances, leading manufacturers are witnessing a continuous decline in profit margin. The sharp rise in prices of input materials such as oil and steel in the past few years and manufacturers' inability to pass on the costs to consumers due to intense competition are major factors of the declining profit margin. Apart from increasing material costs, high labor costs in developed countries compelled manufacturers to shift their production bases to developing countries. All in all, the market is set to witness a slow but steady growth in the coming years.
Major players in the market include AB Electrolux, Applica Inc, BSH Bosch-Siemens Hausgerate GmbH, GE Consumer & Industrial, Groupe SEB, Haier Group, Hamilton Beach/Proctor-Silex, Hitachi Ltd, Indesit Company SpA, LG Electronics Inc, Matsushita Electric Industrial Co Ltd, Miele & CIE, KG, Mitsubishi Electric Corporation, Royal Philips Electronics NV, Samsung Electronics Co Ltd, Sanyo Electric Co Ltd, Sunbeam Products Inc, Whirlpool Corporation, and Maytag Corporation.
"Electric Household Appliances: A Global Strategic Business Report", published by Global Industry Analysts, Inc., provides a comprehensive review of market trends, product profile, recent developments, mergers, acquisitions, profiles of major players and other strategic industry activities. Analysis is presented for major geographic markets such as US, Canada, Japan, France, Germany, Italy, the UK, Spain, Russia, Asia-Pacific, Middle East/Africa and Latin America. Analytics for the period 2000 through 2015 are provided in terms of product segments including Compactors, Dishwashers, Disposers, Dryers, Freezers, Microwave Ovens, Range Hoods, Electric Ranges, Refrigerators, Vacuum Cleaners, Washing Machines, Water Heaters (Electric), Room ACs, Blenders, Bread Makers, Broilers, Can Openers (Electric), Coffee Makers, Electric Knives, Food Choppers, Food Processors, Irons, Mixers, Toaster Ovens, Toasters, Waffle Irons, and Other Major Electric Household Appliances, and Miscellaneous Small Electric Household Appliances.
For more details about this research report, please visit http://www.strategyr.com/Electric_Household_Appliances_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) (http://www.strategyr.com) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
Global Industry Analysts, Inc.
Telephone 408-528-9966
Fax 408-528-9977
Web Site www.StrategyR.com
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This press release has been reprinted from PRWEB per the terms and conditions of the copyright notice.
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