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Asia Pacific Large Appliances Market Outlook to 2020 - Future Growth to be Driven by Emerging Countries and Rising Replacement Demand

Asia Pacific Large Appliances Market Outlook to 2020 - Future Growth to be Driven by Emerging Countries and Rising Replacement Demand

  • January 2017
  • 304 pages
  • ID: 4887123
  • Format: PDF
  • Ken Research Private Limited

Summary

Table of Contents

Executive Summary

The report titled “Asia Pacific Large Appliances Market Outlook to 2020 - Future Growth to be Driven by Emerging Countries and Rising Replacement Demand” which provides a comprehensive analysis of large appliances market in Asia Pacific region. The report focuses on overall market size for sale of large appliances. These include revenue from domestic sale in television, washing machine, air conditioner and refrigerator.

Market is segmented based on product type and sub segmented based on their essential features for major countries such as China, India, and Japan. Segmentation is also done on the basis of distribution channel for major countries. The report also covers the competitive landscape of major players in Asia pacific as well as major countries in large appliances market.

Snapshot on export and import scenario is also covered for major countries such as China, India, and Japan. The report concludes with market projections for future and analyst recommendations highlighting the major opportunities and cautions. The report also serves as a benchmark for every new player which is seeking to enter into emerging and established markets of Asia pacific large appliances market and what should be the focus and USP.

Asia Large Appliances Market
Demand for large appliances in Asia Pacific was mainly driven by replacement of old appliances with new ones in developed markets of China, Japan and Singapore. In emerging markets both replacement demand and first time demand have significant influence. Market for large appliances in Asia Pacific was estimated at USD ~ billion in 2015. Changing consumer preference and declining prices along with advancement in technology will be major growth driver for companies to gain market as well as to enter new markets.
Market for large appliances is very closely related to the consumer confidence of the people in the country.

Availability of higher personal disposable income which is another important factor affecting the sales of large appliances have shown continuous rise in the period of time for most of the developing countries in the region. In 2012 market was estimated at ~ billion and has registered continuous growth till 2014 when it achieved its peak value of USD ~ billion before declining in 2015. Rising urbanization, shift towards manufacturing and services based economy, and improving social indicators, rise in wages were the major factors in promoting the sales of large appliances in the region.

Asia Large Appliances Market by Major Countries
China: In terms of revenue market has increased from USD ~ billion in 2010 to USD ~ billion in 2015 registering a CAGR of ~`%. Programs like Go rural subsidy, subsidized trade in home appliances, launch of energy saving products has helped large appliances companies to make substantial sales. China has been emerged as the leader in the export of large appliances to the global market.

Japan: Total demand for large appliances has declined from ~ million in 2012 to ~ million 2015. Percentage decline in terms of revenue was less compared to percentage decline in terms of number of appliances sold as demand for high end products has increased. Increased concern for environment and value added features with smart technologies has promoted the sales of appliances with high price tag.

India: The industry is represented by major international and local players such as BPL, Videocon, Voltas, Blue Star, MIRC Electronics, LG, Samsung, Whirlpool and several others. The market for large appliances was evaluated at USD ~ million during 2015, grown at a CAGR of ~% during 2010-2015. The major challenge for the consumer durables market is limited penetration of home appliances in rural areas. It has been witnessed that about ~% of Indian population that lives in its villages still does not have access to consumer electrical appliances.

Indonesia: Market for large appliances in Indonesia was estimated at USD ~ billion in 2015 registering positive growth rate of ~%. Fewer sales were registered due to decline in demand from the people and adverse economic situations.
Philippines: The service sector was the main factor fuelling the market supported by growth in private consumption and increased government spending. Market for large appliances in Philippines was estimated at USD ~ billion in 2015. Majority of the demand was from growing demand from the people moving to urban location.

Singapore: Singapore is thriving financial hub with robust economic situations. Market size for large appliances in Singapore was estimated at USD ~ million. Market for Large appliances in Singapore is largely driven by demand for replacement of existing products.

Vietnam: Vietnam was one of the fastest growing economies in Asia in 2014, and manufacturing has been the key driver, much of which can be attributed to the electronics industry. A growing middle class supporting domestic demand has further strengthened Vietnam’s overall attractiveness for global manufacturers. Market size for Vietnam was estimated at USD ~ billion in 2015.

Malaysia: It is an open state-oriented and newly industrialized market economy. Many renowned Japanese and Korean companies have contributed significantly towards the rapid growth of the large appliances sector in Malaysia. Market size for large appliances was estimated at USD ~billion in 2015.

Competitive Scenario in Asia Large Appliances Market
Market for large appliances in the Asia Pacific region is largely dominated by regional brands including Haier, Midea, Gree, Hisense from China, Samsung and LG from Korea, Panasonic, Sharp, and Hitachi from Japan and Videocon from India. Market was led by Chinese brands in refrigerator and washing machine in the entry level products as they were very price competitive. Skyworth Hisense and TCL dominate the television set market followed Samsung and LG. Chinese brands are very popular in China and other South East Asian economies and are very price competitive.

Korea based Samsung and LG are most popular brands outside China. Their high end products have more demand in China compared to entry level products. Companies are making continuous investment in foreign countries to expand their business and gain more market share. Companies have changed the strategy and are focusing on developing a sales and product portfolio based on individual country requirements and demographic conditions. Most of the manufacturing plants are located in China and emerging countries.

Future Outlook
The market for Asia Pacific large appliances market is likely to grow at a CAGR of ~% during the period 2016-2020 with expected revenues been posted at USD ~ billion by 2020. High rate of product innovation, their demand and consumer’s willingness to pay a premium will drive the large appliances market in developed markets in terms of value. Rising urbanization and income level along with changing consumer preferences will drive the market in emerging markets. People are accepting foreign brands especially Chinese brands as they manage to establish their name and high product quality even though priced cheaper than their Japanese and Korean counterparts. This will create demand for foreign brands in emerging as well as developed market.

Key Topics Covered in the Report
• Asia Pacific Large Appliances Market Genesis, Size & Current Outlook
• Asia Pacific Large Appliances Market Segmentation by Major Countries
• Competitive landscape of major players
• Detailed study of Large appliances market in China including genesis, market size, product based segmentation logistics handling, best selling products, export import scenario, snapshot of online sales, trends and developments, competition and competitive landscape of major players, future projections and analyst recommendation
• Detailed study of Large appliances market in Japan including genesis, market size, product based segmentation, logistics handling, best selling products, export import scenario, snapshot of online sales, trends and developments, competition and competitive landscape of major players, recycling in Japan, future projections and analyst recommendation
• Detailed study of Large appliances market in India including genesis, market size, product based segmentation, logistics handling, best selling products, export import scenario, snapshot of online sales, trends and developments, competition and competitive landscape of major players, future projections and analyst recommendation
• Trends and Developments
• Future projections and recommendation

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