Japan Household Appliance Market 2019 Size, Share, Trend, Growth by 2025Posted by Swati Tamhankar on December 12th, 2019 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. 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. According to the United Nations, a large part of the world is currently undergoing urbanization. Nearly 54.8% of the world’s population presently lives in urban areas. Growth in urbanization has resulted in the changing lifestyle of individuals. Increase in number of nuclear families, coupled with rise in urbanization creates a huge demand for household appliance. Thus, rapid urbanization has led to increased need for faster and more reliable household appliances such as refrigerator, air condition, washing machines, which help save time, money, and are convenient for daily use. High price and remarkable popularity of household appliance brands have led to the advent of counterfeit brands. Counterfeit brands are generally prevalent in the developing economies where customers are highly price-sensitive. This factor restricts the sale of the existing original household appliance brands in the Japan market. On the Contrary, development of durable, energy-efficient household appliances at economic price is anticipated to increase the rate of penetration among low- and middle-income groups. Download PDF Sample Copy: https://www.alliedmarketresearch.com/request-sample/5328 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. 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. ey findings of the Japan Household Appliance Market:
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. About Us: We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Like it? Share it! More by this author |