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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Increasing Sales of Refrigerator to Bolster the Growth of the White Goods Industry
Based on product, the refrigerator segment accounts for a significant share in the market and is likely to witness a steady growth in the forecast period. This can be attributed to the durability and long-lasting characteristics of the product. A refrigerator has become an important part of the household as it helps keep the food items fresh and safe, so that the nutritional value of the product is not lost. This is driving the growth of the segment. Meanwhile, the air conditioner segment is anticipated to grow at a considerable rate in the forecast period owing to the rising disposable income and subsequent increase in product demand in emerging nations.
Rising Demand for White Goods in the Residential Sector to Boost the Growth of the White Goods Industry
The global market for white goods is driven by the growing demand for electronic devices such as refrigerators, washing machines, dishwashers, and others in the residential sector. These products are cost-effective, durable, efficient, and have the potential to bolster the housekeeping activities and ease the job of the caretaker. These factors have been contributing to the growth of the market globally. The growing dependence on technology, increasing disposable income in emerging nations, and the rapid advancements in the electronic industry are expected to provide a further impetus to the market growth in the forecast period.
White Goods Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global white goods market attained a volume of nearly USD 763.45 billion.
The market is estimated to witness a healthy growth at a CAGR of 7.8% in the forecast period of 2024-2032.
The major drivers of the market include the increasing disposable income, rapid advancements in the electronic industry, increasing living standards, structural shift towards smart appliances, and growing competition among the electronic device manufacturers.
The key trends guiding the market growth include the growing demand for electronic devices and technological advancements and innovations.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various products included in the white goods market report are air conditioner, refrigerator, washing machine, dishwasher, and microwave oven, among others.
Residential and commercial are the different end-uses of the product.
Hypermarkets and supermarkets, speciality store, retail store, and online, among others, are the significant distribution channels of the product.
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.
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