Global White Goods Market Forecast to 2030 - COVID-19 Impact and Analysis By Product (Refrigerator, Air Conditioner, Washing Machine, Microwave Oven, Dishwasher, and Others); Distribution Channel (Offline and Online); End User (Residential and Commercial); and Geography
Global White Goods Market Introduction
White goods refer to home appliances, which were traditionally available only in white. Although these goods are presently available in several colors, they are still recognized as white goods. It includes a refrigerator, air conditioner, washing machine, microwave oven, dishwasher, and others. Rapid urbanization, growing disposable income, and a rise in spending on home improvement are the major driving factor for the growth of the white goods market. Furthermore, the growing adoption of smart appliances to improve living standards is also triggering the demand for the white goods market during the forecast period 2021-2030. Several manufactures across the globe are heavily investing in R&D activities to improve product performance. For instance, in January 2020, LG Electronics launched its most advanced innovation in the laundry, which works on artificial intelligence to deliver precision washing.
Consumers are choosing to replace their old home appliances such as washing machines, refrigerators, air conditioners, etc. with new, advanced and smart white goods. The emergence of e-commerce platforms coupled with easy payment options has also triggered the sales of white goods. Additionally, a growing preference for smart and internet-enabled appliances for easiness and to avoid tedious & repetitive job works are expected to provide ample growth opportunities for the market player of the white goods market in the coming years.
Global White Goods Market Overview
The global white goods market provides an in-depth analysis of segments and sub-segments, region, and country analysis of the overall growth prospects in the market. The report offers a complete overview of the industry, including both qualitative and quantitative information. The white goods market report covers a complete analysis and provides market size and forecast estimation from the year 2017 to 2030 based on various segments and sub-segments with respect to four major regions, including North America, Europe, Asia-Pacific (APAC), Latin America & Middle East and Africa (LAMEA). The research report highlights underlying factors such as the drivers, restraints, opportunities, and trends of the global white goods market over the long as well as short period of time. Furthermore, the global white goods market report offers PEST analysis, NOISE analysis, improvement Venn diagram, brand recall, perceptual mapping, ecosystem/value chain analysis, Porters five forces analysis, and investment pocket analysis with respect to the market. By examining the data collected from primary and secondary methods, the report offers actionable insights into future growth based on inputs from industry experts to help readers formulate effective strategies. This information can help stakeholders to make appropriate decisions before investing.
Global White Goods Market Insights
The market study offers a complete overview of leading companies and their successful marketing strategies and market contribution, such as business overview, financial information, SWOT analysis, and key strategies, such as recent developments, market expansion, partnership, merger & acquisitions, product launch, product update, and other contexts. Players operating in the global white goods market mainly focus on the adoption of various strategies to expand their footprint across the world and take the initiative for the development of innovative, efficient, and advanced products.
Market mapping or perceptual mapping is the graphical representation of where a brand, product, or service stands among competitors. Market mapping analysis helps to understand the client how their customers perceive their product offering with their competitors for the white goods market. By identifying their current products and competitor products on the market map, the business can fill an identified gap to compete with the competition actively.
COVID-19 Impact on Global White Goods Market
The COVID-19 pandemic has largely impacted globally since December 2019. According to the World Health Organization (WHO) report, the US, India, Russia, Brazil, Italy, France, Argentina, Spain, Colombia, the UK, Germany, and Mexico are some of the worst affected countries due to the COVID-19. The pandemic is hampering the growth of economies worldwide, and it is likely to continue in 2021. The outbreak disrupts various industries, such as manufacturing, construction, automotive, textiles, chemicals, cosmetics, tourism, hospitality, consumer goods, transportation, IT and telecom, pharmaceutical, and among others. This results in several obstacles in the supply chain of raw materials required for packaging, resulting in demand-supply gaps. This scenario is expected to have a large impact on the global white goods market.
With Corona Virus Disease 2019 (COVID-19) pandemic, the world is fighting against Covid-19 pandemic and also economic pandemic, almost impacting trillions of dollars of revenues. Our company brings a high-level insight as well as very deep insights relevant to several promising markets. The study will cover:
· Rapid shifts in top 100 companies across each sector
· Growth and decline in each sector due to the COVID-19 pandemic
Global White Goods Market Segmentation
Global White Goods Market by Product
· Air Conditioner
· Washing Machine
· Microwave Oven
Global White Goods Market by Distribution Channel
Global White Goods Market by End User
Global White Goods Market by Region
· North America
o Rest of Europe
· Asia-Pacific (APAC)
o South Korea
o Rest of APAC
o Latin America
o Middle East
1. Alliance Laundry System LLC
2. BSH Home Appliances Group
3. Carrier Global Corporation
4. Electrolux AB
5. Haier Group Corporation
6. Hitachi, Ltd.
7. IFB Industries Ltd.
8. LG Electronics Inc.
9. Midea Group
11. Panasonic Corporation
13. Sharp Corporation
14. The Middleby Corporation
15. Whirlpool Corporation
Brand awareness is the methodology by which customers are able to recall or recognize a brand (unaided/aided) under several different conditions with respect to the market. These strategies will help the company make people more aware of your brand, especially by targeting relevant, high-quality audiences for the white goods market.
Key Questions Answered
· Which region provides more business opportunities for the global white goods market in the upcoming years?
· Who is the leading overall white goods market, and what strategies have been adopted by them?
· Which segment accounted for the largest white goods market share?
· What are the upcoming trends in the global white goods market? What impact would these trends make in the coming years for the white goods market?
· Which player offering the best product range for the global white goods market?
Key Benefits for Stakeholders
· This study presents the analytical description of the white goods market analysis along with the current trends and future estimations to describe coming up investment pockets
· The complete white goods market opportunity is resolute by knowing profitable trends to gain a stronger foothold
· The report describes insights associated with key drivers, restraints, opportunities, and trends of the global white goods market with thorough impact analysis
· The global white goods market is quantitatively analyzed from 2017 to 2030 to focus on the monetary ability
· PEST analysis defines the potency of the consumers and suppliers in the global white goods market
· Porters five forces analysis examines the five forces that make a competitive company while identifying its strength and weakness. The analysis will also identify competition, new entrants in the market, supplier power, buyer power, and threat of substitute products and services in the global white goods market
We offer customized reports as per the requirement of clients to fulfill special requirements. We also provide regional and country reports as well.