United Kingdom Home Appliances - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

United Kingdom Home Appliances - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

The United Kingdom Home Appliances Market size is estimated at USD 10.30 billion in 2024, and is expected to reach USD 12.09 billion by 2029, growing at a CAGR of 3.25% during the forecast period (2024-2029).

COVID-19 has disrupted the global supply chain of home appliances and consumer electronic brands. The UK is one of the largest consumers and producers of various home appliances and consumer electronics products, but it also caters to a wide range of countries by exporting several input supplies that are essentially used to produce finished goods.

The home appliances market in the United Kingdom is mature with appliances like refrigerators, washing machines, and cookers accounting for more than 90% ownership rate in the country. Owing to this high penetration rate, almost 83% of new purchases are replacements sales, of which, approximately 53% are due to the breakdown of the currently used appliance. The replacement sales are largely driven by buyers moving to a new home/location, followed by their dynamic preferences/needs, innovations that the newly launched products hold, customers' willingness to upgrade the kitchen look, or increasing concerns about water and energy efficiency.

The changing interests of customers are also reflected in the way they buy their goods or products. Though more than half of appliances sold in 2021, were through store-based retailers, the share taken by online-only players has also grown rapidly. Non-retail channels such as builders and construction merchants occupied approximately 9% of the share, whereas the rest is divided among online-only sales, store-based sales, and store retailers who have an online presence too. This intense competition among all the channels is increasing the pricing pressure among various vendors.

UK Home Appliance Market Trends

Innovative Products are Driving the Sales Volume of the Market

Consumers are looking forward to highly innovative products in major and minor home appliances. In 2021, the sales of appliances like dishwashers and washing machines were driven by the innovation that minimized electricity and water conservation with highly efficient cleaning properties. In the same way, the sales of chillers and refrigerators were driven by the lower emission of carbon dioxide and electricity consumption and the sales of washing machines by the rapid drying capacity that the product holds. Enhancing quality standards, pleasing designs, adaptability, ease of access, and convenient/affordable pricing add extra value to the products.

Enhanced Quality and Trending Designs Driving Small Home Appliances Market

Along with the prime functionality of the appliance, consumers are also looking for trending designs and high-quality standards. The market for these small home appliances is vast owing to the factors like its less presence rate, the efficiency they bring in carrying the duty, easy to clean feature that the product holds, and the factor that they reduce the average time that the consumer has to invest in doing the job. The smart connectivity features of the appliances add additional value to the products. The increasing trend in the sales volume of coffee machines, electric kettles, and toasters reflects customers' importance to the features mentioned above. To attract millennial consumers and match their aesthetic dynamic preferences, manufacturers have introduced fancy finishing, and pastel colors, viz. teal, aqua, ivory, and lavender, in small kitchen appliances like coffee makers and blenders.

UK Home Appliance Industry Overview

The report covers major international players operating in the UK home appliances market. In terms of market share, some of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping into new markets. It has major players Samsung, Electrolux Group, LG Group, Panasonic Corporation and Whirlpool Corporation

Additional Benefits:

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