5 Global Trends Make Impact on Home Appliance Industry

5 Global Trends Make Impact on Home Appliance Industry

The increasing pace of change in the global market for household appliances stems from a number of trends such as increased consumer power, digitalization, sustainability,consolidation and a growing middle class. These changes are placing demands on investments and economies of scale, but also open up major opportunities.

During 2016, demand for appliances increased in mature markets such as North America, Europe and Australia as well as in growth markets in Southeast Asia and China. Although demand continued to decrease in Latin America, global demand for appliances continues to rise. Consumer power, digitalization, sustainability, consolidation, and a growing middle class have been noted by experts as industry drivers towards change. To read the full article, click here