Summary

The transition to more innovative and energy-efficient and technologically upgraded appliances is the major driving force behind the growth of the kitchen appliances market in the European Union. Owing to the ongoing COVID-19 pandemic the market has been under pressure from mid-February 2020 which restricted the construction of housing and building projects and the lockdown restrictions have limited the new purchases owing to the uncertainty in the economy and purchasing power parity but is anticipated to bounce back during the forecast period with the changing situations and customers approach towards the pandemic.

The growing digitalization is shaping the future of the market. The number of smart homes, which is constantly growing is adding an advantage to the market by increasing the usage of connected appliances in the region. Similarly, distribution is notably tending towards channels featuring high discounts, including private label goods outlets, mega markets offering high discounts through tax rebates and tie-ups with manufacturers. The growing e-commerce has been posing as a major competitor to other sellers due to highly competitive discounts and other offers has emerged as the fastest growing segment of the distribution channels in the year 2020, owing to the closure of physical stores for a longer time due to the COVID-19 pandemic.

Key Market Trends

Latest Product Features are Driving the Market Growth

There are more than 7.9 billion home appliances were installed in Europe which is one of the highest rates in the world. The presence of a large number of companies who are offering various efficient products that are technically equipped with features such as automatic control, internet connectivity, high energy efficient feature, etc., are driving the demand for kitchen products in the market. Though the high presence rate of a few kitchen appliances such as refrigerators, microwave ovens, food processors, etc., are affecting the number of sale transactions, the replacement sales are helping the market to record growth rate in the region.

Refrigerators and Freezers Segment is Recording More Number of Sales in the Region

The refrigerators and freezers segment has witnessed an average volume growth of around 1.8% year over year, from 2017 to 2020 in the region owing to the growing demand for the latest and upgraded features that are being introduced in them. During the study period, refrigerators evolved with various technological advancements and were improved with the introduction of several internal and external design changes. Along with energy efficiency, the demand for more additional features, such as built-in ice makers, external water and ice-cubes dispensing units, less frost making, or frost-free variants is increasing. The introduction of Smart features in the refrigerators is the major breakthrough in the product evolution and it helped the market to strengthen its position.

Competitive Landscape

The Europe Kitchen appliances market is highly competitive with a high number of key players operating in the market. The report covers the profiles of major players operating in the region. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.

Additional Benefits:

The market estimate (ME) sheet in Excel format
3 months of analyst support

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