Global Small Domestic Appliances Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Small Domestic Appliances Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Small domestic appliances generally refer to household appliances other than those with high power output. Generally, these small household appliances take up relatively small power resources, or the body size is relatively small, so they are called small household appliances.

Market Overview:

The latest research study on the global Small Domestic Appliances market finds that the global Small Domestic Appliances market reached a value of USD 131393.94 million in 2022. It’s expected that the market will achieve USD 196563.69 million by 2028, exhibiting a CAGR of 6.94% during the forecast period.

SMEs face challenges

Pneumonia epidemic in COVID-19 has a great impact on the after-sales operation of Small Domestic Appliances industry, especially on small and medium-sized enterprises. Stopping production not only aggravates the shortage of funds for small and medium-sized enterprises, but also reduces the solvency of enterprises, which may affect production and sales. Some enterprises have difficulties in operation and even go bankrupt. The epidemic situation has seriously affected the logistics and transportation, and the transportation of raw materials is difficult. The industrial chain of small and medium-sized enterprises is imperfect and fragile.

The industrial chain is affected

The COVID-19 outbreak has disrupted business and economic activities globally. It is expected to have a short-term impact on the Small Domestic Appliances market to a certain extent. With several countries across the globe announcing nationwide lockdowns and temporary closures of various industries, production and manufacturing have been severely affected. Stopping production not only aggravates the shortage of funds for small and medium-sized enterprises, but also reduces the solvency of enterprises, which may affect production and sales. Some enterprises have difficulties in operation and even go bankrupt. The epidemic situation has seriously affected the logistics and transportation, and the transportation of raw materials is difficult. The industrial chain of small and medium-sized enterprises is imperfect and fragile. Trade barriers have further impacted the demand-supply gap. Companies operating in the Small Domestic Appliances market have suspended non-essential visits/activities until the COVID-19 outbreak is resolved.

The production cost of enterprises increases

With the gradual control of the epidemic, some factories began to resume operation. However, enterprises need to protect the life and health of employees while operating production, such as purchasing masks, disinfectants and other epidemic prevention materials, disinfecting the working environment before and after production, and testing the body temperature of employees every day to ensure their health. These measures will increase production costs and affect the development of enterprises.

Bargaining Power of Suppliers

In the small home appliance industry, the raw materials needed to produce small home appliances involve many categories. Manufacturers need to coordinate multiple raw material suppliers in order to control the production cost of the product. The shell materials of small home appliances are mainly plastic and metal materials. These two types of materials have many high-quality suppliers in the market, so the bargaining power of these raw materials suppliers is not high. However, most of the internal movement or control system of small home appliances needs to be manufactured by OEM merchants. Because this part requires relatively high manufacturing technology and R&D technology. upstream manufacturers have relatively high bargaining power in this regard.

Threat of New Entrants

Because the industry has certain qualification barriers, the threat of new entrants is not great. In terms of upstream supply, it is difficult for new entrants to obtain high-quality suppliers and coordinated suppliers in a short time; in the enterprise itself, the R&D level and corporate management level of the new entrants are not as good as the existing industry giants; As for downstream customers, it is more difficult for new entrants to establish a corporate brand image, and thus it is relatively difficult to obtain a customer base.

Threat of Substitute Products

The threat of being a substitute for just-needed small household appliances is relatively small, such as rice cookers, hair dryers, electric fans, etc., which are basically necessary for every family. However, for some small household appliances that are seldom used and relatively expensive, the threat of substitutes is greater. For example, in areas with warm climates, electric appliances such as heaters are not needed. Not all households will be equipped with small appliances such as coffee machines, they may choose to consume in coffee shops outside.

Bargaining Power of Consumers

Downstream buyers are more sensitive to prices and there are many alternatives to choose. However, downstream buyers will be more pursuit of high quality Small Domestic Appliances, for companies with big brand name, downstream buyers have a relatively low bargaining power. But for small businesses, downstream buyers have higher bargaining power.

Region Overview:

Europe was the largest revenue market with a market share of 27.47% in 2016 and 24.57% in 2021, an increase of -2.90%. In 2021, the China market share was 26.54%, ranking first.

Company Overview:

The top three companies are Midea, Groupe SEB (Krups), Haier with the revenue market share of 6.13%, 4.90% and 4.62% in 2020.

Segmentation Overview:

The Small Kitchen Appliances segment by type showed a value growth of 25.14% in 2021.

Application Overview:

The market's largest segment by application is the segment Home, with a market share of 87.06% in 2021.

Key Companies in the global Small Domestic Appliances market covered in Chapter 3:

Philips
Midea
LG Electronics
Zojirushi Corporation
De'Longhi (Braun Company)
Tiger Corporation
Panasonic
Whirlpool (Kitchen Aid)
Joyoung
Haier
Hamilton Beach (Proctor Silex)
Group SEB (Krups)
Spectrum Brands (Russell Hobbs)

In Chapter 4 and Chapter 14.2, on the basis of types, the Small Domestic Appliances market from 2018 to 2029 is primarily split into:

Vacuum Cleaners
Small Kitchen Appliances
Personal Care Appliances
Irons
Heating Appliances

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Small Domestic Appliances market from 2018 to 2029 covers:

Home
Office or Business

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)