LG Corp in Consumer Appliances

June 2024

LG Corp has demonstrated resilient growth by focusing on sustainable and innovative home solutions, thriving despite a decline in industry unit sales due to post-pandemic normalisation and inflation. By offering appliances that combine luxury, functionality and energy efficiency, LG aligns with modern sustainable home solutions. The company's strength in major appliances has propelled its transformation into a smart life solutions leader through servitisation, enhancing accessibility and market

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Overview:

Euromonitor International's report on LG Corp delivers a detailed strategic analysis of the company's business, examining its performance in the Consumer Appliances market and the global economy. Company and market share data provide a detailed look at the financial position of LG Corp, while in-depth qualitative analysis will help you understand the brand strategy and growth prospects of LG Corp.

This report examines:

  • Company share by region and sector
  • Brand portfolio
  • New product developments
  • Marketing and distribution strategies

A detailed SWPT analysis of LG Corp provides strategic intelligence on:

  • Strengths and weaknesses
  • Category and country opportunities for growth
  • Challenges and threats from current competition and future prospects
  • Global and regional market positions

Research you can trust:

Euromonitor International's company profile reports are written by our Consumer Appliances research team, a dedicated group of analysts that knows the industry inside and out. Buy this report to inform your planning, strategy, marketing, sales and competitor intelligence functions.

Download Table of Contents
Scope
Executive summary
Top companies at a glance
LG Corp’s global footprint
Company overview
A government initiative that directly impacts the appliance industry in India
Growth decomposition
Exposure to growth
Home as a Service has potential as customers are more open to new forms of services
LG ThinQ UP 2.0 transforms home appliances with personalisation and servitisation
Electrification, servitisation and digitalisation as key focus areas for LG’s sustained growth
Projected rankings
R elative performance
Key categories and markets
Key brands
LG presents Universal UP Kit with more innovations expected in accessibility tech
Universal UP Kit enhancing accessibility for all LG appliance users
Major appliance sales by region
Top countries by category
Projected major appliance sales
LG cuts down on microplastic emissions with innovative washing machines
What next for consumer appliances in developed markets?
Exploring opportunities in product upgrade and replacement
However, energy costs limit automatic laundry in developing markets
LG awarded 2024 Energy Star Partner of the Year
Small appliance sales by region
Top countries by category
Projected small appliance sales
Elevating interiors with LG's stylish air treatment solutions
LG’s Smart Cottage at IFA23 showcased energy management capabilities
Key findings
Projected company sales: FAQs (1/2)
Projected company sales: FAQs (2/2)

Consumer Appliances

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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