Japan Household Appliance Market to See Robust Growth by 2025
According to the report published by Allied Market Research, The Japan household appliance market accounted for $21.19 billion in 2018 and is projected to reach $27.98 billion by 2025, registering a CAGR of 4.0% from 2018 to 2025. The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.
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.
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Rapid urbanization, growth of the housing sector, and increase in per capita income have boosted the growth of the Japan household appliance market. In addition, improvement in living standard, increased need for comfort in household chores, and shift in consumer lifestyle supplemented the market growth. On the contrary, inclination of consumers toward eco-friendly & energy-efficient appliances and government initiatives for energy-efficient appliance undertaken across Japan are expected to create lucrative opportunities in the near future.
The Japan household appliance market is divided on the basis of product and distribution channel.
Based on product, the market is bifurcated into refrigerator, air conditioner & heater, entertainment & information appliances, washing machine, dishwasher, wall oven, microwave, cooking appliances, coffee machine, blender, juicer, canister, deep cleaners, other vacuum cleaners, steam mop, and other appliances. The entertainment & information appliances segment held the largest share in 2018, contributing nearly one-fifth of the market. However, the coffee machine segment is estimated to manifest the fastest CAGR of 7.1% during the forecast period.
On the basis of distribution channel, the market is bifurcated into supermarket, specialty store, manufacturer store, e-commerce company, others. The specialty store real segment dominated the market in 2018, contributing more than two-fifths of the market. However, the e-commerce company segment is projected to register the fastest CAGR of 4.9% during the forecast period.
The Covid-19 pandemic has a vital impact on the growth of the Japan Household Appliance market and altered several market scenarios. The lockdown across various countries and ban on international travel has disrupted the supply chain and revenue chain. The report includes a thorough analysis of the Covid-19 pandemic on the growth of the Japan Household Appliance market.
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.
The Japan household appliance market report provides an in-depth analysis of the major market players such as Qingdao Haier Co., Ltd. (Haier), AB Electrolux, LG Electronics Inc. (LG), Hitachi, Ltd., Panasonic Corporation (Panasonic), Midea Group Co., Ltd. (Midea), Samsung Electronics Co., Ltd., Robert Bosch GmbH, Sharp Corporation (Sharp), and Whirlpool Corporation. They have adopted several business strategies such as mergers & acquisition, business expansion, partnership, collaboration, product launch, joint venture, and agreement to maintain their foothold in the market.
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