According to a new report, Japan Household Appliance Market by Product and Distribution Channel: Opportunity Analysis and Industry Forecast, 2018-2025
PORTLAND, OREGON, UNITED STATES, November 11, 2021 /EINPresswire.com/ — The Japan household appliance market was valued at $20,279.9 million in 2017, and is expected to reach $27,979.0 million by 2025, growing at a CAGR of 4.0% from 2018 to 2025. The entertainment & information appliances is expected to retain its dominant position, in terms of revenue generation, throughout the Japan household appliance market forecast period.
The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
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Increase in per capita income, rapid urbanization, and growth of the housing sector have boosted the growth of the Japan household appliance market. The specialty store real segment dominated the market in 2018, contributing more than two-fifths of the market. On the other hand, e-commerce company segment is expected to register the fastest CAGR of 4.9% during the forecast period.
The Japan household appliance market is segmented based on product and distribution channel. Depending on product, the Japan household appliance market is classified into refrigerator, air conditioner & heater, entertainment & information appliances, washing machine, dish washer, wall oven, microwave, cooking appliances, coffee machine, blender, juicer, canister, deep cleaners, other vacuum cleaners, steam mop, and other appliances. Base on distribution channel, the market is divided into supermarket, specialty store, manufacturer store, e-commerce company and others.
Manufacturers in the household appliances market are continuously developing products with enhanced functionality and features to remain competitive. Despite developing products with higher added value, the prices for the products have collapsed and thus, remained stagnant at a low level for several years. The decrease in price was due to the pressure of competition from countries with low manufacturing costs. Manufacturers are also facing pressure related to margins owing to fierce competition in the Japan household appliance market. This price fall is forcing companies to develop innovative products. This decrease in price trend of household appliances is encouraging customers to purchase the products, which in turn can drive the Japan household appliance market. Reducing prices of household appliances has a positive impact on the Japan household appliance market growth.
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Entertainment & information appliances was the highest revenue generator of Japan household appliances market and is expected to witness a CAGR of 4.4% during the forecast period. The entertainment & information appliances manufacturing industry is highly dynamic in nature. Technological advancements and replacement play a vital role in the growth of the industry. Growth in penetration of Smart TVs facilitates the use of applications that were earlier developed for smartphones. The television is getting smarter with the addition of features such as web surfing, downloading videos, live streaming of games from websites, and downloading news and traffic updates. Although smart TVs presently comprise only a small portion of the overall sales, the adoption of these devices is on the rise with consumers recognizing the availability of the vast amount of web-based content.
In September 2018, OnePlus, the Chinese smartphones manufacturing company announced to expand its product line into the SmartTV industry and is expected to compete with other brands and its rival smartphone companies such as, Xiaomi, and Samsung. In October 2016, Bose launched new wireless sound bars and surround sound systems. These devices are very small in size and deliver the best audio experience. The devices launched by Bose are enabled with Wi-Fi and Bluetooth and with NFC for easy pairing. In September 2016, Sony launched its Z series range of its flagship BRAVIA 4K HDR TVs. These TVs feature a newly developed 4K image processor, 4K HDR processor.
Some of the key strategies adopted by Japan Household Appliance Industry players in this market are acquisition, business expansion, partnership, collaboration, product launch, merger, joint venture, and agreement. Key players profiled in the report include AB Electrolux, Qingdao Haier Co., Ltd. (Haier), Hitachi, Ltd., LG Electronics Inc. (LG), Midea Group Co., Ltd. (Midea), Panasonic Corporation (Panasonic), Robert Bosch GmbH, Samsung Electronics Co., Ltd., Sharp Corporation (Sharp), and Whirlpool Corporation.
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Key findings of the Japan Household Appliance Market:
○ By product type, the refrigerator segment of Japan household appliances market is expected to grow at a CAGR of 5.1%, in terms of revenue, from 2018 to 2025.
○ By product type, the washing machine segment is expected to grow at a CAGR of 3.4%, in terms of revenue, from 2018 to 2025.
○ By product type, the cooking appliances segment is expected to grow at a CAGR of 4.4%, in terms of revenue, from 2018 to 2025.
○ By product type, the wall oven segment is expected to, grow at a CAGR of 5.0% in terms of revenue, from 2018 to 2025.
○ By distribution channel, the specialty store real segment is expected to lead the Japan household appliance market at a CAGR of 3.7%
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Source: EIN Presswire