Italy Home Appliances Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

Italy Home Appliances Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The Italy Home Appliances Market has generated a revenue of USD 8.25 Billion in the current year and is poised to achieve a CAGR of 3.35% for the forecast period.

COVID-19 has disrupted the global supply chain of major home appliances and consumer electronic brands. The home appliance market in Italy suffered from sluggish economic conditions, which resulted in only minimal growth of retail volumes in 2021. The home appliances market, both in terms of value and volume, remains subdued with the major appliances segment following a similar pattern, while small appliances remain more dynamic than major appliances in current value terms. The market relies on both domestic production and imports from the countries, such as China, to meet its demand for appliances.

The average family size is shrinking in Italy, with people living in small and affordable apartments. With fewer space consumers not only need small products but also need smaller or multifunctional appliances that can perform various tasks at the same time, thus, making their lives easier.

More than half of the market sells home appliances through traditional supply chains, such as retailers, stores, and hypermarkets. This is mainly because users trust traditional brands and have difficulty carrying out product installation independently. Another reason for the preference for offline channels is that consumers want to inspect and examine a product before making purchase decisions.

Internet retailing is rapidly gaining popularity among Italians for buying home appliances products. It is observed that Italian consumers are becoming increasingly comfortable with the purchase of products online.

On the other hand, the implementation of promotional strategies by companies and the shift toward online retailing channels may further contribute to the growth dynamics of the sector.

The Italian market for smart home solutions is rapidly growing, increasing household demand for smart home appliances. According to the source, it is known that 40% of Italians have at least one ‘smart’ appliance at home.

In the smart home appliance sector, washing machines, which are connected and controlled by an app and, in some cases, equipped with voice assistants, continue to drive the sector’s growth. Technologies, such as operating a coffee machine vocally and other trends, are growing quickly and demanded by consumers.

Artificial intelligence and the interface with which users manage their smart homes are gaining momentum among Italian consumers. Technology-savvy and energy-efficient products are concerns that are developing before the purchase of these products. Smart and connected appliances are thus becoming more popular.

International players dominate the home appliance sector in the major appliance markets in Italy, and it remains highly competitive with a high level of fragmentation, especially among small and medium-sized businesses. Weaker players with poor financial strength have already disappeared, while the other small businesses have chosen to merge with their peers to survive. Many players in the local market face liquidity issues and cannot follow the evolution of consumer demand. Players are focusing on premium products with value-add in terms of design, performance, energy-saving capabilities, connectivity, and smart features. It has major players Robert Bosch SpA, Whirlpool Corporation, Electrolux Italy SpA, Miele, and Philips SpA.

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