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Sunday, February 27, 2022

Global White Goods Market To Be Driven By The Growing Demand In The Commercial Sector In The Forecast Period Of 2022-2027

Global White Goods Market Size, Share, Price, Trends, Growth, Report and Forecast 2022-2027’, gives an in-depth analysis of the global white goods market, assessing the market based on its segments like products, end uses, distribution channels, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2017-2027)

• Forecast CAGR (2022-2027): 7.8%

The white goods market is being driven by the growing demand for the products in the commercial sector. The white goods have a high demand in the food and beverage and pharmaceutical sector. For instance, the demand for refrigerators is anticipated to increase, owing to the thriving pharmaceutical sector and the on-going demand for vaccines worldwide. In this regard, vaccine shots and various medicines require a storage with low temperature. In addition, food preservation is a crucial aspect in the food and beverage industry, which is likely to propel the demand for premium white goods. The market is expected to be further aided by the growing use of white goods in the household sector. This can be attributed to the growing tendency of the consumers towards replacing the old home appliances with the new and innovative white goods.

Industry Definition and Major Segments

White goods are defined as large appliances, which are usually powered by electricity and are used to assist in various activities such as cooking, cleaning, food preservation, washing, and drying, among others.

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The significant types of products in the market include:

• Air Conditioner
• Refrigerator
• Washing Machine
• Dishwasher
• Microwave Oven
• Others

On the basis of end use, the industry is segmented into:

• Residential
• Commercial

The different distribution channels in the market include:

• Hypermarkets and Supermarkets
• Speciality Store
• Retail Store
• Online
• Others

The regional markets for white goods include:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Market Trends

The development and expansion of distribution networks, which include the emergence of the e-commerce channels, is likely to be a major trend for the market growth. The online segment allows the consumers to choose from a wide range of products on the online portals, along with attractive discounts and offers. In addition, the availability of modern refrigerators that come with the wi-fi feature, along with Bluetooth connectivity is likely to enhance the popularity of the white goods among the residential and commercial sectors. Moreover, the rapid digitalisation in both the developed and developing economies of the world is likely to be another major factor guiding the growth of the market in the positive direction.

Key Market Players

The major players in the market are Alliance Laundry Systems LLC, Blue Star Limited, Electrolux AB, Haier Group Corporation, and LG Electronics Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.


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