Production in the manufacture of domestic appliances in Belgium has experienced fluctuating growth patterns over the past decade. In 2023, production stood at 13.9 million euros. From 2013 to 2023, there were notable variances, including significant growth in 2014 (+73.86%) and a marked drop in 2018 (-30.57%). The last two years saw slight declines in production, with -2.07% in 2022 and -2.11% in 2023. The 5-year CAGR up to 2023 showed a substantial uptick at +15.71%.
Moving into the future, forecasts suggest a gradual decline with a 5-year CAGR of -0.59% and an overall reduction in growth rate of -2.92% by 2028. This consistent trend points to potential challenges in maintaining production levels.
Future trends to watch for:
- Technological advancements and automation in domestic appliances manufacturing
- Impact of energy efficiency regulations and standards
- Shifts in consumer demand towards sustainable and smart appliances
- Potential economic fluctuations and geopolitical factors affecting the market
- Influence of supply chain dynamics and raw material availability
