LED Lighting Taking Over Other Light Sources In The Global Household Appliances
Posted by sainath on October 5th, 2018
Household appliance manufacturing industry consists of establishments engaged in manufacturing of appliances used for various purposes at home such as household-type small electric appliances, electric and non-electric cooking appliances, refrigerators and home freezers, laundry equipment and other major household appliances.
The global household appliances manufacturing market has been growing in the past years with a CAGR of almost 6%. The year 2017 recorded high growth in this market with a net market value more than 20% higher than that of 2013, as per TBRC’s in-house consultants.
TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the global household appliances manufacturing market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
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Household appliance manufacturers are embedding LED lights in electronic products to minimize power consumption. LED lights require lesser wattage as compared to CFL or incandescent light bulbs due to which many kitchen designers suggest the use of LED lighting. Cooking electric appliance manufacturers are more focused on introducing products with LED lighting for minimal power consumption and improved visual appearance. For instance, GE’s LED refrigerator lighting systems minimizes power consumption by 80% compared to halogen lamps. The company has introduced products such as café’s French door refrigerators and profile wall ovens with this lighting.
Companies included in the report are Samsung Electronics, Panasonic Corporation and Whirlpool Corp.
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