Canada Home Appliances Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Canada Home Appliances Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Canadian home appliances market is recording growth numbers and is largely driven by the innovation in the appliances, As customer groups are getting younger, more preference is being given to the products that are energy-efficient and consume less electricity and water. The products with multi-utility, smart features, that look simple yet fashionable than the usual ones are gaining more significance and wide appreciation by consumers. Customers also preferring aesthetically pleasing colors that go well with their interiors and are Environment-friendly owing to an increasing focus on initiatives to control carbon footprint by both the government and buyers. The replacement sales, which are usually high in the region, are driven by the products with enhancing quality standards, less power consumption, and or limited harmful emissions, and technology advancements. A rise in demand for smart appliances, which are connectable, wireless goods, and comes with ease of access is observed across the country. Appliances with invertor in-built or rechargeable features are recording an increase in the total number of units sold. The e-commerce penetration is also scoring a good number of sales over the past years, owing to the convenience and delivery facilities that online shopping holds and the ease of selection by allowing consumers to compare two or more brands, their features, prices, etc.

Key Market TrendsSmall Home Appliances are Dominating the Sales Volume of the Market

Small home appliances, like vacuum cleaners, coffee makers, toasters, hairdryers, curlers, kettles, steam units, fryers, are less affected by the imbalanced financial situation when compared to large appliances, like refrigerators, washing machines, dryers, freezers, dishwashers, and microwave ovens. The market for these small home appliances is expected to increase, owing to the factors, like affordable prices, followed by their less presence rate in the market, the improving innovation, automation they hold, and the perfection they bring in the job. These products are easing people’s life by taking off a huge load off the working population (around 66.12%), which comforts consumers by minimizing the time they spend on the respective tasks. Multi-utility appliances are catching the attention of consumers than the regular appliances, which holds limited utility.

Multi-Utility and Technically Advanced Appliances Grabbing a Higher Portion of the Market Share

The rise in the disposable income and the increasing urbanization are paving a way for multifunctional, technologically advanced, smart and connected appliances, as consumers prefer to transform their homes into such a place where they can monitor their appliances, even when they are away from them. The appliances that can be operated through different types of connectivity have been gaining popularity from the past few years, and this trend is expected to continue in the forecasted period as well.

Competitive Landscape

The report covers major international players operating in the Canadian home appliances market. The country holds a moderate scope for newcomers to enter. However, by providing higher qualitative small appliances, the new players can target the market. By offering a complete innovation in the products offered, the existing players can bring a great change in their market share.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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