Market Overview

Household Appliances Market in Europe 2018-2022 | Introduction of Multifunctional Products to Boost Demand | Technavio

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Technavio
analysts forecast the household appliances market in Europe to grow at a
CAGR of more than 3% during the forecast period, according to
their latest market research report.

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Technavio has published a new market research report on the household appliances market in Europe fr ...

Technavio has published a new market research report on the household appliances market in Europe from 2018-2022. (Graphic: Business Wire)

The introduction of multifunctional products is one of the major trends
being witnessed in the household
appliances market in Europe 2018-2022
. The growing demand for
innovative and advanced products has propelled the demand for and
popularity of multifunctional household appliances in Europe.
Multifunctionality of products not only addresses their basic features
but also derives the maximum value from the amount spent on a single
product.

This report is available at a USD 1,000 discount for a limited time
only:
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market snapshot before purchasing

According to Technavio analysts, one of the key factors contributing to
the growth of the household appliances market in Europe is the product
innovation and portfolio extension leading to product premiumization:

Household appliances market in Europe: Product
innovation and portfolio extension leading to product premiumization

Players operating in the household appliances market in Europe
constantly engage in R&D and innovation to sustain in the competitive
market environment. This is due to the growing competition and increased
customer demand for innovative products. The major product innovations
introduced are in terms of technology, performance, features, and
design. Customers also look for household appliances that can perform
multiple tasks with minimal resources.

According to a senior analyst at Technavio for research on home,
kitchen, and large appliances, "To meet evolving customer needs,
vendors continuously innovate their product range and increase their
product line as per the growing consumer demand. Moreover, the growing
purchasing power and increasing disposable income, customers are
gradually increasing their spending on household appliances. This has
propelled the demand for premium household appliances and help the
growth of the household appliances market in Europe."

Household appliances market in Europe:
Segmentation analysis

The household appliances market in Europe research report provides
market segmentation by product (major household appliances and small
household appliances), by distribution channel (offline distribution
channel and online distribution channel), and by region (Germany,
France, UK, Italy, and Rest of Europe). It provides an in-depth analysis
of the prominent factors influencing the market, including drivers,
opportunities, trends, and industry-specific challenges.

Of the two major products, the major household appliances segment held
the largest market share in 2017, contributing to over 77% of the
market. The growth in the segment can be attributed to the increased
disposable income, high urbanization, and increased products
advancements and offerings.

Germany held the largest share of the market in 2017, accounting for
more than 21% share. The growth in the country is attributed to the
significant lifestyle changes among consumers in the country.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market sizing
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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