While in small appliances the picture is more mixed, the major appliances market is dominated by a handful of players. Despite this, we see further consolidation with some high-profile mergers and acquisitions in recent years, enabling leading manufacturers to expand to new categories and markets. With expanding the offer and tapping into new revenue streams as a priority, manufacturers are also shifting their attention to new categories and services in the extended smart home automation market.
This report comes in PPT.
Consolidation enables companies to expand their geographic reach and penetrate new markets. By merging with or acquiring companies operating in different regions, businesses can access new customer segments and distribution channels. In major appliances especially, we see further market consolidation.
As customers continue to adopt smart appliances, manufacturers are starting to focus on wider smart home solutions, especially in the home energy management system market. This enables them to unlock new product categories, such as heat pumps or energy storage systems, and provide a range of services.
While we should not underestimate consumers’ worries about increasing costs, products that offer convenience, such as time saving, or personalisation are intriguing to customers who are still willing to indulge on in-home luxuries and pay more for desired products that tap into these trends.
Consumer Appliances is the aggregation of major appliances and small appliances. Major appliances are an aggregate of the following categories: refrigeration appliances, home laundry appliances, dishwashers, large cooking appliances and microwaves. Small appliances are an aggregation of the following categories: food preparation appliances, small cooking appliances, vacuum cleaners, irons, personal care appliances, heating appliances and air treatment appliances.
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