Newark, June 12, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 15 billion in 2022 Japan household appliances market will reach USD 24.43 billion by 2032. automation and digitization are related to the current way of living. The growth of smart technologies has boosted the quality of life due to technological developments and product improvements. Smart, linked devices power today's world. The electrical market has grown due to customers' rising disposable income and declining retail prices for smart technology. The demand for electronic appliances, smart connected gadgets, automated assistants, and other electricity-powered products is rising. Multiple market participants contribute to the market's expansion. Government laws have changed to become more environmentally friendly and sustainable in response to growing worries about climate change, which is good news for the industry's future growth.
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Key Insight of the Japan household appliances market
In 2022, the entertainment and information appliances segment dominated the market with the largest market share of 22% and market revenue of 3.30 billion.
The product type segment is divided into air conditioner & heater, blender, canister, coffee machine, cooking appliances, deep cleaners, dish washer, entertainment & information appliances, juicer, microwave, refrigerator, steam mop, vacuum cleaners, wall oven, washing machine, and other appliances. In 2022, the entertainment and information appliances segment dominated the market with the largest market share of 22% and market revenue of 3.30 billion.
In 2022, the specialty stores segment dominated the market with the largest market share of 43% and market revenue of 6.45 billion.
The distribution channel segment is divided into supermarkets, specialty stores, e-commerce, manufacturing stores and others. In 2022, the specialty stores segment dominated the market with the largest market share of 43% and market revenue of 6.45 billion.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 5% |
| 2032 Value Projection | USD 24.43 Billion |
| Base Year | 2022 |
| Asia Pacific Cosmetics Market Size in 2022 | USD 15 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 237 |
| Segments covered | Product Type and Distribution Channel |
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Advancement in market
Japanese small appliance manufacturer and supplier Koizumi Seiki enhances modern lifestyles with its array of cutting-edge home, beauty, and kitchen items. Koizumi Seiki is inspired by the knowledge of daily living and richly enriched by a trading history spanning three centuries. Koizumi promotes fashionable lifestyles in ASEAN by offering its labels and well-known brands from Japan and other nations. It invites collaborations with distributors in Thailand, Vietnam, Myanmar, and Indonesia with substantial sales networks and in-depth local knowledge.
Market Dynamics
Drivers: demand for home appliances is rising.
Many households in Japan are made up of adult members who all work full-time, making it ideal for them to have smart home equipment to lighten their load with chores and other responsibilities. The increased disposable income and high per capita income help to meet the growing demand for home appliances. Additionally, Japan's growing elderly population finds it simple, practical, and efficient to use domestic appliances to care for the house rather than doing it the old-fashioned way. The Japanese market can find significant market participants that provide a wide range of items to meet the expanding customer demand. Therefore, the rising demand for home appliances will fuel the market's expansion.
Restraints: The risk of appliances catching fire and short-circuiting.
Gas or electricity is typically used to power household appliances. If stabilisers are not installed and incorporated into the system, they are equally vulnerable to high-voltage currents. Catastrophic outcomes like fire, property damage, and injury to people can result from this. The device is made useless in and of itself. These gadgets require proper storage and upkeep because they present a risk when used near heat or water. As a result, the safety issues with household appliances will impede market expansion.
Opportunities: The development of energy-efficient technology.
As people become more aware of climate change and global warming, they are more likely to demand eco-friendly and energy-efficient products, including household appliances. High-end, sophisticated, intelligent, environmentally friendly, and energy-efficient household appliances have been developed due to technological breakthroughs and product innovation in Japan, a market with strong human resources. These goods help the environment, save money, and save time. The players' ongoing rise in research & development spending for innovation accelerated the market's growth. Additionally, the market will benefit from the favourable climate the government authorities provide with supportive rules and regulations.
Challenge: The rising energy costs.
The depleting fossil fuel resources and rising geopolitical tensions have contributed to the rising energy costs and, thereby, the cost of living crisis globally. With electricity bills soaring in the country, more people have become sceptical about buying energy-intensive appliances and turning towards conventional household chores. Therefore, the rising energy costs will challenge the market's growth.
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Some of the major players operating in the Japan household appliances market are:
• AB Electrolux
• Hitachi, Ltd.
• LG Electronics Inc.
• Midea Group Co., Ltd.
• Panasonic Corporation
• Qingdao Haier Co., Ltd.
• Robert Bosch AG
• Samsung Electronics Co., Ltd.
• Sharp Corporation
• Whirlpool Corporation.
Key Segments cover in the market:
By Product Type
• Air Conditioner & Heater
• Blender
• Canister
• Coffee Machine
• Cooking Appliances
• Deep Cleaners
• Dish Washer
• Entertainment & Information Appliances
• Juicer
• Microwave
• Refrigerator
• Steam Mop
• Vacuum Cleaners
• Wall Oven
• Washing Machine
• Other Appliances
By Distribution Channel
• Supermarkets
• Specialty Stores
• E-Commerce
• Manufacturing Stores
• Others
About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
Browse Related Report:
Household Cooking Appliance Market
The global household cooking appliance market was valued at USD 305.73 billion in 2022 and growing at a CAGR of 7.37% from 2023 to 2032.
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