Appliance reliance - volume to grow by 4.3% globally in 2014

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Major appliance sales have been fluctuating due to the economic recession. However, a few bright spots exist with the dishwasher category in particular showing high growth of 14% within Latin America in 2014. Brazil is predicted to be the fastest growing market for dishwashers, posting volume CAGR of 21% from 2014-2019. Local manufacturers of large appliances in Brazil such as Esmaltec and Suggar could potentially enter the dishwasher category and launch their own portfolios targeting the middle-income group with lower unit prices than are currently available.

Global consumer interest is turning towards small appliances such as air treatment, cooking appliances and vacuum cleaners, which reflects the huge demands for health care and life enhancing products. More than half of global sales of these products are coming from China, followed by France, Japan and Turkey.

Light fryers, which use a tiny amount of oil to fry food, have been the best performing appliances among consumers in 2014, growing by more than 20% globally in volume terms.

"With obesity rate on the rise worldwide, light fryers are expected to grow in forecasted years," says Head of Consumer Appliances at Euromonitor, Jamie Ko. "Philips and Groupe, SEB are dominant within the market with more than 70% share globally in 2014. As manufacturers look into products related to health care, there will be more products with related functions and features launched over the next few years."

Report highlights

• The US has the largest microwave market size in value terms in 2014.
  
• Brazil is the fastest growing market for dishwashers, posting volume CAGR of 21% from 2014-2019.
  
• Average unit price of air conditioners is the lowest in Indonesia, at US$217 per unit in 2014.
  
• More than 50% of global production of automatic washing machines is produced in China.
  
• Electrolux AB has the largest global sales shares of large cooking appliances, followed by Whirlpool Corp in 2014.
  
• The most popular format of fridge freezers in South Korea is side-by-side, consisting of 65% volume in the country, in 2014.