The turnover for electric domestic appliances in Belgium stood at 136.9 Million Euros in 2023. Over the recent decade, the market has shown significant fluctuations, with a peak in 2015 and substantial declines in subsequent years. The year-on-year variations have been quite volatile, with notable increases in 2014 (11.09%) and 2015 (34.17%), and significant drops in years like 2018 (-30.32%) and 2020 (-3.42%). Analyzing the longer term, the Compound Annual Growth Rate (CAGR) has depicted a declining trend, estimated at -3.71% for the next five years, resulting in a forecasted contraction of around 17.23% by 2028.
Future trends to watch for include the increasing consumer interest in energy-efficient and smart appliances, which could drive innovation and potentially stabilize the market. Additionally, the impact of economic factors such as inflation and supply chain disruptions will be critical in shaping the turnover trends in this sector.
