Updated Oct 3, 2022 19:57

Home Appliance Market in Asia

Market Overview
The Asian home appliance market shrank significantly to $ in , waning by -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $ in , and then reduced dramatically in the following year.

In value terms, home appliance production fell to $ in estimated in export price. The total output value increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2009 when the production volume increased by % against the previous year. Over the period under review, production attained the maximum level at $ in , and then dropped in the following year.

China ( units) constituted the country with the largest volume of home appliance production, accounting for % of total volume. Moreover, home appliance production in China exceeded the figures recorded by the second-largest producer, India ( units), threefold. The third position in this ranking was held by Turkey ( units), with a % share.

In China, home appliance production expanded at an average annual rate of +% over the period from 2007-. In the other countries, the average annual rates were as follows: India (+% per year) and Turkey (+% per year).


Consumption
In , approx. units of domestic, non-electric, cooking or heating appliances were consumed in Asia; growing by % on the year before. The total consumption volume increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The volume of consumption peaked at units in ; however, from to , consumption stood at a somewhat lower figure.

The value of the home appliance market in Asia was estimated at $ in , picking up by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $ in ; however, from to , consumption stood at a somewhat lower figure.


Consumption by Country
The countries with the highest volumes of consumption in were India ( units), China ( units) and Japan ( units), together accounting for % of total consumption. Indonesia, Pakistan, South Korea, Thailand, Malaysia, Turkey, Saudi Arabia and Vietnam lagged somewhat behind, together accounting for a further %.

From 2007 to , the biggest increases were recorded for Saudi Arabia (with a CAGR of +%), while consumption for the other leaders experienced more modest paces of growth.

In value terms, India ($) led the market, alone. The second position in the ranking was taken by China ($). It was followed by Japan.

From 2007 to , the average annual rate of growth in terms of value in India totaled +%. In the other countries, the average annual rates were as follows: China (-% per year) and Japan (+% per year).

From 2007 to , the average annual growth rate of the home appliance per capita consumption in No country was relatively modest.


Market Forecast
Driven by increasing demand for home appliance in Asia, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to units by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .