Global Major Appliances Industry
The global major appliance industry is expected to record close to 4% yearly growth in demand through 2015 to reach a volume of 400 million units, reports Freedonia. The US white goods market is witnessing recovery due to recovery in the wider economy. Demand is expected to come from housing market recovery in 2015, and also because consumers are beginning to upgrade to superior equipment as income levels rise. Growth in other established markets is likely to be more modest in the future.
There are a few multinational corporations offering extensive product ranges. There is a high degree of competition between leading players and entry barriers are high, reports Global Industry Analysts. There are a few Asian outfits competing with bigger companies, particularly in emerging markets. Manufacturers compete on product innovation and design in established markets such as Western Europe and the US.