Europe Touch Screen for Household Appliances Market is expected to reach US$ 402.3 Mn by 2028


PRESS RELEASE BY The Insight Partners 31 Mar 2021

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Ovens and Microwave Segment to Dominate Europe Touch Screen for Household Appliances Market during 2019–2027

 

According to The Insight Partners market research study on “Europe Touch Screen for Household Appliances Market Forecast to 2028 – COVID-19 Impact and Analysis”, the market is expected to reach US$ 402.3 million by 2028 from US$ 146.0 million in 2020. The market is estimated to grow at a CAGR of 13.0% from 2021 to 2028. The report provides trends prevailing in the market along with the drivers and restraints pertaining to the market growth. The household appliance industry is growing exponentially owing to increased consumer purchasing capacity, sustainability, digitalization, and rise in middle class population. These factors are creating the need for more investments and better economies of scale in Europe. Moreover, they are offering growth opportunities to household appliance manufacturers due to changing lifestyles of individuals.

 

A smart oven is an electrical household appliance integrated with Wi-Fi connectivity or Bluetooth systems to connect it to a companion application on the owner’s smartphone. This enables the owner to access, control, and monitor the oven from a remote location. The smart oven has the same features as that of the traditional counterparts; however, they are more flexible and convenient. The changing mindsets of end users to shift from traditional ovens to smart ovens is a crucial factor driving the adoption of smart ovens. From the consumer point of view, the rising urban population, increasing disposable income, and a growing working population across the Europe are transforming the lifestyles of the population. Thus, the changing lifestyle of the global population is a key factor driving the growth of the smart ovens in the current scenario.

 

Additionally, factors such as the growing production and sales of smart home appliances in the European market are gaining high momentum, thereby boosting the growth of the home appliances industry. Also, owing to rise in adoption of smart kitchen appliances and integration of touch screen panel for a seamless kitchen experience are projected to positively influence the market growth during the forecast period. The regional population has a capability to make additional investments for having a smart kitchen, which is further fueling the penetration of smart kitchen appliances.

 

Europe is a significant manufacturing and industrial hub for several industries such as industrial equipment, automotive, construction, and energy & power. However, owing to shutdowns of businesses, including manufacturing, supply chain, logistics, and after sales services, as well as research and development activities, the region has witnessed a decline in the industries mentioned above. Moreover, lockdown measures to curb the spread of novel coronavirus have adversely affected the manufacturing of household appliances. In 2019, over 140 household appliances manufacturing units were established in countries such as Italy, France, Germany, Poland, and Turkey. Each mentioned country had more than 10 manufacturing units in their territory. However, owing to travel bans and temporary shutdown of manufacturing units, the manufacturing units has also witnessed a decline in production activities. Decrease in production of basic components such as compressor, thermostat, water pump, paddles, convection fan, and fan blade, and advanced products such as sensors and screen, resulted in reduction of the entire manufacturing of household appliances. Turkey, Russia, Switzerland, and Norway are among prominent export destinations of both large and small appliances.

 

Arçelik A.Ş., BSH Hausgeräte GmbH, De’ Longhi Appliances S.r.l., Electrolux AB, Groupe SEB, Haier Inc, LG Electronics, Miele, Smeg S.p.A., Whirlpool Corporation, Vestel, and Samsung are among the leading companies operating in the Europe touch screen for household appliances market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the market.

Europe Touch Screen for Household Appliances Market, by Country, 2020 (%)



Europe Touch Screen for Household Appliances Market to Grow at a CAGR of 13.0% to reach US$ 402.3 Million from 2020 to 2028

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Europe Touch Screen for Household Appliances Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Display Technology (Resistive and Capacitive), Product (Refrigerators, Washing Machines, Dishwashers, Ovens and Microwave, and Coffee Machines), and Display Size (Less than 7 Inch and 7 Inch and Above)



The report segments the Europe touch screen for household appliances market as follows:

 

Europe Touch Screen for Household Appliances Market – by Display Technology

  • Resistive
  • Capacitive

Europe Touch Screen for Household Appliances Market – by Product

  • Refrigerators
  • Washing Machines
  • Dishwashers
  • Ovens and Microwave
  • Coffee Machines

Europe Touch Screen for Household Appliances Market – by Display Size

  • Less than 7 Inch
  • 7 Inch and Above

Europe Touch Screen for Household Appliances Market – by Country

  • Germany
  • France
  • Italy
  • United Kingdom
  • Turkey
  • Russia
  • Rest of Europe
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