Small Domestic Appliances Market to Record an Exponential CAGR by 2030 March 11, 2022
Transparency Market Research delivers key insights on the global small domestic
appliances market. In terms of revenue, the global small domestic appliances market is estimated to expand at a CAGR of ~6% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global small domestic appliances market report.
In the report, TMR predicts that the global small domestic appliances market would be largely driven by factors such as growing middle class population, disposable income, and improved products. Rapid industrialization and urbanization have resulted in uplifting various economies around the world. The trend of using multifunctional appliances and replacing traditional appliances is expected to boost the growth of the small domestic appliances market during the forecast period.
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According to the small domestic appliances market report, the product type segment includes kitchen appliances (coffee machine, air fryer, juicer, steamers, others), floor care appliances (vacuum cleaners, mops, others), garment care appliances (iron and garment steamer), and other appliances (air purifiers, humidifiers & dehumidifiers, others); the end-use segment comprises residential and commercial (hotels, restaurants, cafes, others); based on distribution channel, the market is divided into online (e-Commerce websites and company-owned websites) and o
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(supermarkets/hypermarkets, specialty stores, and others). In terms of product, kitchen appliances account for major share of the small domestic appliances market. Increase in urbanization and growing working population in various countries contributes majorly to the expansion of this segment. Kitchen appliances segment is projected to expand at a significant rate in the near future.
The capability of small domestic appliances to sync with wireless Bluetooth devices is a new way of starting appliances in the kitchen. Consumers no longer have to wait for long to preheat the oven, thus increasing convenience and saving time. The