Israel Laundry Appliances Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Israel Laundry Appliances Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Israel laundry appliances market was valued at USD 127 Million in 2018 and is expected to grow significantly in the forecast period of 2019-2024. The growth in the home laundry appliances slightly slowed down in 2018 due to the slowdown in the housing market. In 2017 and 2018, housing acquisitions slowed significantly due to the governmental housing plan Buyer’s Price, which offers apartments at lower-than-market prices. These have also caused uncertainty in the market as to whether apartment prices would continue rising. Therefore, many consumers are choosing to wait until the situation is clearer before buying a home. With the pickup in the home buyers, the laundry market is certain to catch up pace and grow further.

Drivers:

Key Highlights

• Continuous product innovation by the market players to meet the evolving consumer demands
• Growing population and the rising disposable income

Restraints:

Key Highlights

• Higher operational costs involved in the making up of automatic machines
• Higher prices charged to meet the rising costs

Key Market TrendsWashing machines are the most preferred at home laundry appliances

Israel home laundry appliances market is eyeing more of the larger capacity washing machines as laundry is a daily chore for Israelis. The consumer preferences are continuously changing with the increasing busy lifestyles that utilize highly efficient and time saving laundry options. In the review period, companies offering various automatic washing machines responded to the changing preferences of consumers by expanding their offers of larger capacity models. 8kg products became almost the standard in the category, though companies also launched many new 9kg models, and machines with capacities of 10-11kg became more widely available. Coupled with the demographic and social trends, new launches are likely to accentuate the shift towards larger capacity models in automatic washing machines and automatic tumble dryers over the forecast period. Lower cost brands as well as premium are equally received by Israeli consumers.

Ecommerce sales grow as an emerging distribution channel for the purchases

Ecommerce in Israel is growing at a whooping rate and is expected to grow at a cagr of over 15%. In the last ten years it has grown by double digits despite its modest population and majorly driven by the cross-border ecommerce. The number of Israeli businesses selling online are however only a few – with prices that are usually substantially higher than those of cross-border retailers. This is because of high value-added taxes (VAT) as well as monopolies on numerous consumer goods. Nearly 80% of Israeli online shoppers have bought products from abroad, predominantly from China, the UK and the US. Israel is a fairly digitalized country with about 75% Internet penetration and a smartphone market of more than 60%. The dominant e-commerce categories in Israel include Home Electronics, Fashion & Footwear and Media Products. Housewares and groceries are also popular products purchased online.

Competitive Landscape

The Israel laundry appliances market is characterized by near consolidated players with many foreign players established since long time and giving tougher competition to the newer players. BSH maintained its leadership in the home laundry appliances in 2017 with the gains coming from its Bosch, Siemens and Constructa brands. These brands are all perceived as being very reliable and offering high quality products and are often recommended by professionals and salespeople.

Additional Benefits:

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

Companies Mentioned

Alliance Laundry systems
Bosch
Candy Group
Electrolux
GD Midea Holding Co.,Ltd
Godrej Group
Haier Group
Hitachi Appliances Inc
IFB Industries
LG Electronics
Miele and Cie KG
Panasonic Corp
Samsung
Sharp
Toshiba
Videocon
Whirlpool

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