Market Sizing and Company Mapping Project

Part
01
of seven
Part
01

Company Mapping: Household Appliances

As per Grand View Research, the key players in the household appliance market in the US are Whirlpool Corporation, LG Electronics, Samsung, Haier Group Corporation, and Robert Bosch GmbH. This research focuses on two of these top players — Haier Group Corporation and Robert Bosch GmbH.

KEY PLAYERS IN THE US HOUSEHOLD APPLIANCE MARKET

#1: HAIER GROUP CORPORATION

  • Haier Group Corporation is a publicly listed company in Hong Kong, which has a global presence with 122 manufacturing units.
  • It is a leading ecosystem enterprise, with revenue increasing by 10% each year.

COMPANY SERVICES

  • It provides high-standard customer service such as home appliances parts that are available separately, and scheduled customer services.
  • It also provides eco-friendly smart home services, customized based on customer requirements.
  • It provides lifetime service for the users, which is a win-win situation for the company and the users.

REVENUE

EMPLOYEE SIZE

GEOGRAPHICAL STRUCTURE

  • It has a presence in North America, Latin America, EMEA (Europe, the Middle East, and Africa), China, Australia, and Asia.
  • About 19.9% of R&D, manufacturing, and sales & marketing are from the US.

BRANDS OWNED

  • Haier, Casarte, Leader, RRS.com, AQUA, and Fisher & Paykel.

KEY MARKETING CHANNELS

  • Haier Group Corporation has around 66 sales and marketing centers around the world.
  • It has integrated global offline/online and social network retail and service operations, with 20,000+ county-level distributors, and 800,000+ microstore owners and also uses e-commerce sites.
  • Some stores that sell Haier products are Walmart and Sears.

#2: ROBERT BOSCH GMBH

  • Robert Bosch manufactures sustainability home appliances, which save around 59% of water consumption. It enhances the lives of the customers by innovating around nature and has about 900 patents in the home appliance sector.

COMPANY SERVICES

  • One of the primary goals of the company is to provide quality products, with no tolerance for minor discrepancies. It also offers award-winning customer service.
  • It provides sustainable and live-by-nature innovations, which are helpful for future generations too.
  • The company is trying to offer a smarter future by providing Connected Mobility, Connected Living, and Connected Industry.

REVENUE

  • In 2018, 23% (€18.06 billion) of the company's revenue was from consumer goods. Its consumer goods are in two parts — power tools and BSH Hausgeräte GmbH, which sells household appliances.
  • Revenue of BSH Hausgeräte GmbH was €13.4 billion in 2018.

EMPLOYEE SIZE

  • The company has 410,000 associates worldwide in the following four divisions: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy & Building Technology. 19% of the employees are for consumer goods, which is 79,199 associates.
  • BSH Hausgeräte GmbH is 100% owned by Bosch Group and has 61,000 employees.

GEOGRAPHIC STRUCTURE

  • The company sells units in Europe, the Americas, and the Asia Pacific, with 17% of the total sales from America.

BRANDS OWNED

  • Global Brands: Bosch, Siemens, Gaggenau, and Neff
  • Local Brands: Thermador, Balay, Coldex, Constructa, Pitsos, Profilo and Zelmer, as well as the Junker and Viva

KEY MARKETING CHANNELS

  • The company uses e-commerce sites, sales teams, distributors, and resellers for marketing its products.
  • Some dealers in the US are Home Depot and Lowe's.

RESEARCH STRATEGY

The key players in the US household appliance market were identified based on Grand View Research's list of key players in the market.

Part
02
of seven
Part
02

Company Mapping: Kitchen Appliances

Three of the top players in the kitchen appliance market in the US are: General Electric (GE) Appliances, Viking Range Corporation and Thermador.

1. General Electric Appliances

  • GE Appliances designs and manufactures appliances for home applications. The company was founded in 2004 and is headquartered in Louisville, Kentucky. Their products include kitchen and cooking appliances, electronics, air conditioners, washers and dryers, small appliances and water filtration systems.
  • The estimated revenue for GE Appliances is 18.4 million and has over 10,001 employees.
  • GE Appliances operates through retailers worldwide and has manufacturing facilities in Decatur, Alabama and has wholly-owned subsidiaries in LaFayette, Georgia, and Selmer, Tennessee. GE Appliances also has research & development centers in the U.S., China, Korea and India.
  • Brands under GE Appliance are Monogram, Cafe, GE Appliances, Profile, Haier, and Hotpoint.
  • GE Appliances key marketing channels are Facebook and Twitter.

2. Viking Range Corporation

  • Viking Range Corporation is an appliance company that manufactures markets high-end, professional-grade appliances, such as stoves, dishwashers, refrigerators, freezers, ovens, blenders, mixers, outdoor grills, cookware. The company was founded in 1987 and is headquartered in Greenwood, Mississippi.
  • Viking was acquired by The Middleby Corporation in December 2012.
  • The company offers three complete lines of premium appliances including cooking, ventilation, kitchen clean-up and refrigeration, as well as various outdoor appliances.
  • The estimated revenue for Viking Range is 250.27 million and there is between 1,001-5,000 employees.
  • Viking has distribution partners in the US and Canada. Viking planning to extend its global reach by expanding the company's international distribution channels. This will be done by leveraging Middleby Worldwide Distribution to increase its own global service and sales force in more than 40 countries.
  • The key marketing channel used is Twitter

3. Thermador

  • Thermador is part of BSH Home Appliances Corporation which is a fully owned subsidiary of BSH Hausgerate GmbH- the second largest appliance manufacturer in the world. The company was founded in 1916 and is based in Irvine, California.
  • The Thermador brand specializes in kitchen appliances such as ovens, ranges, cook tops, refrigerators, and dishwashers.
  • The company has an estimated revenue of 9.5 million and has over 10,001+employees.
  • Thermador brand falls under BSH Home appliances Corporation. Other brands include: Bosch, Pistos, Zelmer and Profilo.
  • BSH Home Appliances serves North American consumers. The products are made in the US at its plants in North Carolina and Tennessee.
  • Thermador key marketing channels are Twitter, Instagram, YouTube, and Facebook,

Research Strategy

The top player in the kitchen appliance marketing in the US was determined by searching databases such as Ranker, which is a website that features polls on brands, entertainment, sports and culture. We analyzed the brands that were rank the highest in terms of durability, customer service, and appearance. From the list we compiled, we selected the companies that were post popular by consumer rating and the number of times mentioned in each category. We then selected the top three companies from the list excluding the companies mentioned in Strategy document and companies not located in the US.

Part
03
of seven
Part
03

Company Mapping: Kitchen Gadets

The top three players in the kitchen gadget market in the US are OXO International, Chef’n Corporation, and Cuisinart. This is based on revenue and employee size.

KITCHEN GADGETS TOP PLAYERS

OXO INTERNATIONAL
  • A company under Helen of Troy, OXO is a leading producer of household tools, designing, manufacturing, and marketing consumer products and appliances. The company offers a wide array of products including wine accessories, mugs, graters, pizza tools, thermometers, garlic and herb tools, colanders and much more.
  • The annual revenue of OXO is $28.5 million.
  • The staff size of OXO International is between 1,001-5,000 employees.
  • OXO offices are present not only in the US, but also in the UK, Germany, and Japan.
  • Existing brands under OXO International include OXO.
  • In 2016, OXO launched its largest advertising strategy since 1996. OXO is seen to use integrated campaigns with advertising through digital, audio, influencer and paid social media means. This was a new strategy employed by the company to steer away from the reliance on retail promotional discounts.
CHEF'N CORPORATION
  • Launching as the Garlic Machine, the focus of Chef’n Corp is to make better tools so that consumers can make better food. They are a leading housewares group providing innovative and fun products for sale through retail category leaders. Some of their products include kitchen gadgets, kitchen tools, measuring and baking equipment, grinders, cleaning utensils, strainers and steamers, and much more.
  • The annual revenue for Chef’n Corporation is $17 million.
  • Chef’n Corp has between 51-100 employees employed in the company.
  • In 2014, Chef’n went international, opening an office in China.
  • Some brands under Chef’n Corporation include Chef’n, Vibe, Pop Top, Fresh Force, Garlic Zoom, and more.
  • Chef’n Corp uses avenues of digital, audio, social media, and influencer for the marketing of their products. Utilizing social media platforms such as YouTube, Instagram, and Facebook, as well as manipulating their appearances in blogs and magazines. Chef’n Corp is a step above in advertising.
CUISINART
  • Established in their belief in the food processor, Cuisinart is a full-service culinary resource with products that are favored by chefs and consumers. Cuisinart is now seen to supply consumers with items including mixers, waffle makers, blenders, food processors, and much more.
  • The annual revenue of Cuisinart is $35 million US.
  • Cuisinart has an employee size of 1,001-5,000 persons.
  • Cuisinart allows you to purchase internationally online and are offered in many international retail locations. However, no other office exists for this company outside of the US.
  • Some of the brands existing under Cuisinart include Cuisinart, Green Gourmet, and Cuisinart Advantage.
  • Cuisinart is seen to utilize methods of digital, video, audio, and social media advertising strategies to market their products.
  • Comments made by the director of marketing communications of Cuisinart in the past spoke of the business using data analytics in their marketing strategy. By focusing on the conversation of consumers surrounding the brand, Cuisinart can make informed decisions and changes.

RESEARCH STRATEGY

To establish a list of three companies we first visited expert food and cooking blogs, as well as news articles from major publications. We found a pre-compiled list of the most popular kitchen gadget companies, while three other articles provided lists of the top-rated kitchen gadgets. To determine the top three companies in the space, we took the companies that were mentioned most frequently when cross-referencing the four articles.

Upon finding our three companies, we investigated each thoroughly by visiting their web pages, business profiles on various platforms, as well as their social pages on platforms like LinkedIn and YouTube. We created an overview of each company using this information. We found the revenue and employee sizes through business profile pages. An idea of the geographic structure of each company was gathered through the web pages of the companies themselves. Brands that exist under each of the companies were also found on the company websites.

When observing each company's marketing techniques, we visited news and business websites. Finding no recent articles covering the marketing strategies of the three companies, we resorted to backdate sources that were a year out. For OXO, an article posted in 2016 spoke to the avenues that OXO had been utilizing at the time for their marketing techniques. It can also be noted that before that year no changes had been made to the marketing strategy of the company since 1996.

Similarly, no articles were found on Chef'n Corp's marketing techniques. Instead, we found actual advertisements from the company. These included posts in magazines and blogs by influencers, YouTube videos, and Instagram posts. This gave us insight into the avenues that the company has been utilizing for their marketing. Finally, we searched to find recent information surrounding marketing for Cuisinart. After investigating various business and marketing websites, we again resorted to an article published in 2016 which spoke to some methods the company had been employing at that time for marketing purposes. We further found the social presence of Cuisinart by checking their YouTube page which contained several videos showing how to use products and speaking to their benefits.
Part
04
of seven
Part
04

Company Mapping: Cuisinart, Breville, OXO, SAMSUNG

Cuisinart, Breville, OXO, and SAMSUNG all produce home appliances. Complete details about each company are presented below including each company's overview of services, revenue, employee size, geographic structure, brands, and key marketing channels.

CUISINART

  • Cuisinart manufactures innovative culinary equipment and appliances. It was founded in 1971 and is headquartered in Stamford, Connecticut. Its products include air fryers, bakeware, blenders, coffee and espresso makers, cookware, countertop cooking appliances, food processors, indoor and outdoor grills, ice cream and sorbet makers, juicers, hand mixers, and microwave ovens.
  • Cuisinart has 1,001-5,000 employees.
  • The company doesn't have any additional brands but it has its signature Griddler line (nonstick grill and panini press), bridal registry program, sparkling beverage makers, a baby product line and online recipe widget.
  • Cuisinart is owned by the Conair Corporation, which is headquartered in East Windsor, New Jersey. Conair maintains sales and marketing offices in Stamford, Connecticut, as well as distribution centers in the United States, France, Germany, the Pacific Rim, Canada, Mexico, and the United Kingdom.
  • Cuisinart products can be purchased through retailers, both online and in-store, globally.
  • Cuisinart has $35M in estimated revenue annually.
  • The online social media marketing channels used by Cuisinart include Facebook, Twitter, Instagram, YouTube, and LinkedIn.

BREVILLE

  • Breville produces innovative kitchen utensils like the espresso and Nespresso machines, cookers, juicers, food processors, immersion blenders, mixers, ovens, etc. Breville also offers parts and accessories of these utensils and recipes.
  • Breville's revenue for 2018 was $652.3M.
  • Breville's number of employees is between 251-500.
  • The company’s main brand is Breville and is sold in over 50 countries worldwide. Breville's headquarters are located in Sydney, Australia. In Australia and New Zealand, the Breville Group trades under its company-owned brands which are Breville, Kambrook, and Ronson.
  • In North America, the group distributes its products under the Breville brand through premium channels and its own online retailing platform. In the Asia Pacific region, the Middle East, and South America, the Group markets its products under the Breville brand using local third-party distributors supplied via its Hong Kong office. In Europe, the Group has several partners who market Breville’s products under their own brands.
  • The online social media marketing channels used by Breville are Facebook, Twitter, Instagram, and YouTube.

OXO

  • OXO's parent company is Helen of Troy and is a leading producer of household tools, including kitchen, and cleaning and home organization products.
  • OXO has 127 employees across its headquarters in New York, Pennsylvania, the United Kingdom, Japan, and Germany. There are 97 in their New York City headquarters.
  • The OXO brand includes Brew, Good Grips, OXO On, Tot, and SteeL.
  • Revenue for the year ending in February 2019 for housewares with OXO's parent company was $523B. The housewares segment is made up of OXO, Good Grips, Hydro Flask, SoftWorks, and Tot.
  • The online social media marketing channels used by OXO are Facebook, Twitter, Instagram, and YouTube.

SAMSUNG

  • Samsung USA services and products include devices and appliances like refrigerators, microwaves, smart home devices (e.g., Galaxy Home, SmartThings WiFi), televisions, home theater systems, mobile phones, computers, laptops, and tablets, LED lighting, security and monitoring systems, and watches.
  • Samsung USA has its headquarters in Ridgefield Park, New Jersey.
  • Samsung's global revenue was $221B in 2018.
  • The online social media marketing channels used by Samsung are Facebook, Twitter, Instagram, and YouTube.
  • Samsung has 20,000 employees across 46 states in the United States.
  • Samsung geographical structure in the United States includes Los Angeles, California; Bellevue, Washington; Bentonville, Arkansas; Greenville, South Carolina; Atlanta, Georgia; Washington, DC; New York, New York; Edina, Minnesota and Richardson, Texas.
  • Samsung Global has numerous subsidiaries and affiliates.

Part
05
of seven
Part
05

Company Mapping: LG, Electrolux, Hamilton Beach Brands, Keurig

LG offers mobile, TV/audio/video, kitchen, laundry, appliances, computers, and solar products. They also provide support services such as repair services and business support. Keurig is a leading coffee and beverage company in the United States. The company's products include coffee, flavored soft drinks, teas & water, and juice, juice drinks, and mixers.

LG

SERVICES
  • LG offers mobile, TV/audio/video, kitchen, laundry, appliances, computers, and solar products.
  • The company also offer support services, such as repair and business support services.
REVENUE
NUMBER OF EMPLOYEES
  • The company has over 70,000 employees.
LG GEOGRAPHIC STRUCTURE
  • The geographic structure of the company is divided into different categories such as the audit committee, outside director candidate recommendation committee, and management committee.
LG COMPANY BRANDS
LG KEY MARKETING CHANNELS

ELECTROLUX

SERVICES
  • Electrolux offers kitchen, laundry, home care, and SDA products.
  • The company also offers home care services, such as repair services and business support services.
REVENUE
NUMBER OF EMPLOYEES
  • The company has over 54,000 employees.
ELECTROLUX GEOGRAPHIC STRUCTURE
  • Electrolux operations are divided into five business areas, which comprises six sectors and a total of 25 product lines."
  • There are five group staff units that support all business sectors: Finance, Communications, Branding, Legal Affairs, and Human Resources and Organizational Development."
ELECTROLUX BRANDS
  • Electrolux has eight strategic brands.
  • The company brands are AEG, Electrolux, Eureka, Frigidaire, Electrolux Grand Cuisine, Molteni, Westinghouse, and Zanussi.
ELECTROLUX KEY MARKETING CHANNELS
  • The company relies heavily on retailers who help distribute her products to consumers using various outlets such as retail stores, supermarkets, hypermarkets, and shopping malls.

HAMILTON BEACH BRAND

SERVICES
REVENUE
NUMBER OF EMPLOYEES
HAMILTON BEACH BRAND GEOGRAPHIC STRUCTURE
  • An image of the geographic structure of the company can be accessed here.
COMPANY BRANDS
  • Some of the brands existing under the company include Hamilton Beach, Electrics, Proctor Silex, and TrueAir.
HAMILTON BEACH BRAND KEY MARKETING CHANNELS

KEURIG

SERVICES
  • Keurig company is a leading coffee and beverage company in the United States. The company's products include coffee, flavored soft drinks, teas & water, and juice, juice drinks & mixers.
REVENUE
NUMBER OF EMPLOYEES
  • The company has over 25,000 employees.
KEURIG GEOGRAPHIC STRUCTURE
KEURIG BRANDS
  • Existing brands under the company include Keurig, Dr.Pepper, Green Mountain Coffee Roasters, Canada Dry, Snapple, Bai, Mott's, and The Original Donut Shop.
KEY MARKETING CHANNELS
  • Keurig uses music apps, email, and ads on products as their primary marketing channels.
Part
06
of seven
Part
06

Market Sizing: Kitchen Gadgets

The current market size for the US kitchen gadgets and tools market is estimated to be about $1.475 billion. The estimated CAGR for the US market in the next 2-3 years is approximately 27.06%. Complete details about the triangulations used to arrive at these estimates are presented below.

Market Size

  • The market size of kitchen gadgets is growing in the United with an increase in dollar sales of gadgets by 10% from September 2014 to September 2015, compared to the prior 12 months. This implies a sale of about 305 million gadgets in the United States for the same period.
  • According to Mintel Research, about £976 million ($1.187 billion) would be spent on kitchen gadgets in 2016.
  • In 2017, US retail sales of kitchen gadgets and tools amounted to approximately $1.2 billion.
  • From Statista, US sales of kitchen gadgets and tools were as follows:
    • $1.03 billion in 2010
    • $1.05 billion in 2011
    • $1.06 billion in 2012
    • $1.07 billion in 2013
    • $1.10 billion in 2014
    • $1.116 billion in 2015
    • $1.19 billion in 2016
    • $1.20 billion in 2017

Past & Predicted CAGR

  • The CAGR of the market for the past 2-3 years (2017-2019), using an online CAGR calculator and the above market data, was 2.06%.
  • The predicted CAGR of the market for the next 2-3 years (2019-2021) using an online CAGR calculator, is approximately 27.06%.

Research Strategy

Although limited data is available containing publicly accessible information related to the kitchen gadget market in the United States, we were able to triangulate the market size for the CAGR value for this market. The research team found some reports, such as Market Watch, Mintel, Statista, and others, discussing the information related to the US market size. However, these reports neither provided the market size for 2019 nor the CAGR value of the market. So, we decided to triangulate the data using two methods and then took the average of them. The first method was based on data from Statista for 2010 to 2017; the second method was using the annual sale of kitchen gadgets. None of the sources we found provided the CAGR of the market for the past 2-3 years or the predicted growth for the next 2-3 years. However, we have tried to provide a rough estimate of the CAGR value.

CALCULATIONS
**First Method for the Current US Market Size for Kitchen Gadgets — Based on the above-mentioned data, we have calculated the CAGR rate for the kitchen gadget and tools market to be 2.21% from 2010 to 2017. If we assumed that this CAGR would remain the same until 2019, we calculated the current market size for 2019. Therefore, using an online reverse CAGR calculator, the market size of the kitchen gadget and tools market can be calculated for 2019 to be $1.25 billion. To obtain this value we used 2017 data as the initial value (CAGR as 2.12% and the number of periods as 2 years from 2017 to 2019).
**Second Method for the Current US Market Size for Kitchen Gadgets — As it is mentioned in the Housewares MarketWatch report, the kitchen gadgets and tools market is growing in the United States with an increase in sales of gadgets by 10% in the 12 months ending September 2015 (i.e., from September 2014 to September 2015, the sale of kitchen gadgets increased by 10%) compared to the prior 12 months. We assumed this growth to be between 2014 and 2015. Using the above data we can calculate the market size for 2019 assuming per year growth as 10%. In 2015, the kitchen gadgets and tools market were $1.116 billion. So, in 2016, growing annually at 10%, the market would be = $1.276 billion. In 2017, growing annually at 10%, the market would be $1.40 billion; and so on in 2018 at $1.54 billion and 2019 at $1.7 billion.

Therefore, based on the above two methods, we can take the average of both the values to provide an estimated market size for 2019 for the kitchen gadgets and tools market in the US: Market Size (2019) = Average [($1.7 billion + $1.25 billion)/2] = $1.475 billion
The CAGR of the market for the past 2-3 years (2017-2019):
Using online CAGR calculator, and the above market data we can calculate the CAGR value to be 2.06%.

**Predicted Growth for the Next 2-3 Years — Due to the reason that none of the sources we found provided any information on predicted growth rate or market size for the next 2-3 years in the United States, we have used the available data to calculate the projected CAGR value for the next 2-3 years. As it is mentioned in the MarketWatch report and above, the US kitchen gadgets and tools market is growing, with an increase in dollar sales of gadgets by 10%. We have assumed this growth to be between 2014 and 2015.

So, using the above data we can calculate the projected market size values for the next 2-3 years assuming per year growth as 10% (using a CAGR calculator) and the 2015 figure from Statista:
2015: $1.116 billion
2016: $1.276 billion
2017: $1.40 billion
2018: $1.54 billion
2019: $1.7 billion
2020: $1.87 billion
2021: $2.06 billion (approx.)

Therefore, using the online CAGR calculator, we have calculated the predicted CAGR for the next 2-3 years (2019 to 2021) for the US kitchen gadgets and tools market to be about 27.06%.
Part
07
of seven
Part
07

Market Sizing: Household Appliances

According to a report by Grand View Research, in 2016, the US household appliances market was valued at $43.34 billion.

Market Size of the US Household Appliances Market

  • The market is expanding at a significant rate due to the growing popularity of induction cooking technology. This technology is becoming more popular because of high fuel prices and a shift in consumer lifestyle.
  • According the Grand View report, there is a growing number of nuclear families across the US, which has increased the dependence of users on the household devices.
  • The cooking range, cooktop, and microwave segment accounted for the largest market share of 27.8% in 2016. This segment is further expected to grow at a modest rate of 3.3% between 2017 and 2025.
  • In terms of distribution channels, the market is divided into brick & mortar segment (which include electrical & electronics retailers, hypermarket, supermarket, discount stores, variety stores, department stores, and general merchandisers), and the e-commerce segment.
  • The brick & mortar segment accounted for the largest market size in 2016 and is projected to grow to $51.47 billion by 2025. On the other hand, the e-commerce segment is forecast to grow at a higher CAGR of around 9% over the forecast period.
  • The North American market, which mainly comprise the US and Canada, is projected to show substantial growth between 2019 and 2026 due to the development of various innovative appliances and technological advancements.

Key players


Research Strategy

To answer this question, we searched for the market size of the US household appliances market size as well as the projected rate of growth over the next 2-3 years. We got all the details needed to answer the question. However, there was no data specific to 2019, which necessitated us to triangulate to the nearest available data. We got a report published in 2018 plus a few other reports to beef up our findings. Although this report has used 2016 as the base year to calculate the market size and CAGR rate, we found it credible because it has a forecast period of up to 2025.

Sources
Sources

From Part 01
Quotes
  • "BSH has been 100 percent owned by Bosch Group since January 2015. In its over 50 years of history, BSH has grown from a German exporter into one of the world's leading home appliance manufacturers. With around 61,000 employees worldwide, BSH reached revenues in 2018 of around 13.4 billion euros"
From Part 04
From Part 06
Quotes
  • "Gadgets are a $1.4 billion business, and growing. "
  • "U.S. dollar sales of gadgets are up 10 percent in the 12 months ending September 2015, compared to the prior 12 months. "
  • "That translates to almost 305 million gadgets sold in the U.S. in the 12-month period, according to NPD’s Retail Tracking service."
Quotes
  • "In 2017, U.S. retail sales of kitchen gadgets and tools amounted to approximately 1.2 billion U.S. dollars."
Quotes
  • "Kitchen gadgets are flying off the shelves with Mintel predicting that £976 million would be spent on them in 2016. "
From Part 07
Quotes
  • "The U.S. household appliances market size was valued at USD 43.34 billion in 2016. The growing popularity of induction cooking technology in the wake of rising fuel prices and the changing lifestyle of consumers with increasing number of nuclear families has increased the dependence of users on the household devices and hence is expected to significantly drive the home appliances market."
Quotes
  • "Furthermore, the growing demand for the kitchen appliances is playing a major role in the growth of the regional market. North America is also expected to show substantial growth over the forecast period due to the development of various innovative appliances and technological advancements. Also the small-scale companies of home appliances are rapidly being taken over by the various industry giants in the region."