The Germany consumer appliances market was valued at USD 18.3 billion in 2019. The market is projected to expand at a robust CAGR during the forecast period, 2021 – 2028. The growth of the market is attributed to rising disposable income of the citizens of Germany and rapid urbanization in different parts of the world.
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Consumer appliances are mechanical and electrical machines, which perform household tasks such as cleaning, cooking, and preserving food. These appliances can be classified as white goods or major appliances, brown goods or small appliances, and consumer electronics or shiny goods. Small appliances need high technical skills and knowledge, whereas major appliances require practical knowledge and strength to operate the devices and large tools to repair them.
Market Trends, Drivers, Restraints, and Opportunities:
- Self-governing companies in this market create revenue, based on advertising strategies and modernized operations.
- Rising demand for energy-efficient and advanced products in consumer appliances is expected to fuel the market.
- Rising disposal incomes and desire for convenient and comfortable lifestyles is increasing the investment in small appliances, which is anticipated to propel the market.
- Technological advancements in consumer appliances is estimated to fuel the market.
Market Segment Insights:
Major product segment accounts for more than 80% of the market revenue
Based on products, the Germany consumer appliances market is segregated as major and minor. The major segment is projected to expand at a robust CAGR during the forecast period. Major appliances are kept at one place in the house and require large amount of electricity to function. Major appliances have huge demand in the market, owing to smart products launched in the market. Key products in the domestic household appliances include freezers, refrigerators, air conditioners, dryers, and washing machines. These are also known as white goods products. Consumers have started using advanced, technical, and modern appliances, as it is time-saving and convenient.
Retailers segment held a key market share in Germany
On the basis of distribution channels, the Germany consumer appliances market is fragmented as retailers, e-retailers, variety stores & general merchandisers, hypermarkets and supermarkets, and department stores. Distribution channels for consumer appliances have widespread retailers such as Tesco and Aldi, who wish to expand in the household appliances market. In Germany, retailers like Metro, Media markt, and Saturn hold a key market share and act as a barrier to new participants. The e-commerce segment is flourishing in the Germany consumer appliances market with the help of Otto and Amazon.
Competitive Landscape
Among the new competitors and key players, the key players dominated the consumer household appliance market due to marketing, economies of scale, and distribution.
Key players in the Germany consumer appliances market include Whirlpool Corporation, LG group, Samsung, Electrolux, Panasonic Corporation, Gorenje group, Siemens AG, Walton Group, and Arcelik A.S. Large retailers bargain with the manufacturers for offers, discounts, and bulk purchases. Key players in the market provide a large number of alternatives to the client. This in turn, is boosting the market.
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