White Goods Market - Global Industry Analysis

White Goods Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2022-2028

Category: Semiconductor & Electronics Report Format : PDF Report Code: ZMR-6894 Status : Upcoming

Description

Global White Goods Market: Overview

White goods are electrical goods and heavy consumer durables comprising major household appliances. These are powered electrical for electrochemical devices like tumble dryers, fridges, washing machines, air fryers, blenders, cookers, refrigerators, geysers, dishwashers, and air conditioners. These are well painted in white enamel finish. However, they are available in diverse colors but are still said to be white products. White goods are typically utilized for different tasks ranging from washing & cleaning to heating & cooling.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global White Goods Market: Growth Factors

The global white goods market is projected to reach $1,031.0 billion with a healthy CAGR of 7.7 % during the forecast period. However, the global white goods market is undergoing significant transformation due to the entry of many midsize players into the marketplace. Additionally, the degree of competition among small brands is constantly increasing. But stiffening competition is propelling innovation and posting value-added products in the market, thereby benefiting the consumer and developing the market. However, the growing disposable income has emerged as a key factor contributing to the growth of the market. The wide adoption of white goods for entertainment is also fostering growth prospects. Manufacturers are emphasizing research and development activities along with the focus on bringing luxury products into the market. The growing scope of the e-commerce platform and the advantage of easy payment options will also increase the sales volume and market revenue. The growing living standard of people and the high adoption of electrical appliances in the day-to-day life of people is expanding the scope of the market globally. New product launches and the growing integration of advanced technology like artificial intelligence will create lucrative growth opportunities in the global white goods market. The global white goods market has witnessed a gradual decline in market revenue owing to the outbreak of the Covid-19 pandemic but is anticipated to see growth prospects in the forthcoming years due to the shifting consumer preferences. The surging trend of the nuclear family system in the different regions across the world will further help white goods to penetrate into society.

Global White Goods Market: Segmentation

The global white goods market can be segmented into application, type, distribution channel, and region.

By application, the market can be segmented into hospitals & clinics, dry cleaners, households, and others. The household segment swipes the largest share in the global white goods market due to the growing demand for household appliances.

By type, the market can be segmented into heating & cooling equipment, reservation & cooking equipment, cleaning equipment, and others.

By distribution channel, the market can be segmented into e-commerce, retail store, specialty store, supermarket, hypermarket, and others. Specialty stores account for the largest share in the global white goods market due to the ease of product inspection and availability of a diverse number of products. Also, an e-commerce sales channel is a leading segment in the global white goods market due to the high penetration of fast-speed networks and smartphones.

Global White Goods Market: Regional analysis

Asia Pacific accounts for the largest share in the global white goods market due to the presence of leading manufacturers in the region. Also, the growing investment and rapid industrialization in the region will further strengthen the growth of the regional market. However, the growing disposable income of the people, along with their rising living standards, will positively influence market growth.

North America is likely to emerge as a global white goods market due to the technological advancements in the region.

Global White Goods Market: Competitive Players

Some of the significant players in the global white goods market include Johnson Controls, Mitsubishi Electric Corporation, TCL Corporation, Midea Group, AB Electrolux, Godrej & Boyce Mfg. Co. Ltd., Blue Star Limited, Symphony Limited, Robert Bosch GMBH, LG Electronics, Sharp Corporation, and Panasonic Corporation.

Global White Goods Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

The global white goods market is projected to reach $1,031.0 billion with a healthy CAGR of 7.7 % during the forecast period. However, the global white goods market is undergoing significant transformation due to the entry of many midsize players into the marketplace. Additionally, the degree of competition among small brands is constantly increasing.

 

Some of the significant players in the global white goods market include Johnson Controls, Mitsubishi Electric Corporation, TCL Corporation, Midea Group, AB Electrolux, Godrej & Boyce Mfg. Co. Ltd., Blue Star Limited, Symphony Limited, Robert Bosch GMBH, LG Electronics, Sharp Corporation, and Panasonic Corporation.

Asia Pacific accounts for the largest share in the global white goods market due to the presence of leading manufacturers in the region. Also, the growing investment and rapid industrialization in the region will further strengthen the growth of the regional market. However, the growing disposable income of the people, along with their rising living standards, will positively influence market growth.

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