The home appliances market is experiencing significant advancements, enhancing the lives of consumers in various ways. Modern appliances are equipped with smart technology, allowing for remote control and automation, which increases convenience and energy efficiency. They also offer improved connectivity and data analysis for more personalized user experiences. These innovations result in time and energy savings, reduced utility costs, and a more comfortable lifestyle. Overall, the benefits of these advancements in home appliances include enhanced convenience, efficiency, and sustainability.
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Data Bridge Market Research analyses that the Ethiopia Home Appliances Market was valued at USD 3,95,190.45 thousand in 2021 and is expected to reach USD 5,04,516.95 thousand by 2029, registering a CAGR of 3.10% during the forecast period of 2022-2029. Rising incomes enable consumers to invest more in modern home appliances, enhancing their living standards. This trend is driven by the desire for convenience, energy efficiency, and advanced features, resulting in increased spending in the home appliances market.
Key Findings of the Study
Aging population is expected to drive the market's growth rate
An aging demographic increasingly values home appliances that cater to their evolving needs. These appliances are designed to streamline daily tasks and enhance accessibility, improving the quality of life for seniors. Features such as user-friendly interfaces, ergonomic designs, and safety measures make it easier for older individuals to manage their household chores independently, promoting a sense of autonomy and comfort as they age. This shift reflects the market's responsiveness to the aging population's specific requirements.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Thousand, Volumes in Units, Pricing in USD
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Segments Covered
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Product (Refrigerator, Air Conditioner, Heaters, Washing Machines, Cleaning Appliances, Gas Stove, Cooking Range, Microwave and Oven and Others), Technology (Manual Home Appliances and Smart Home Appliances), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, E-Commerce and Others), Household Type (Family Households and Non-Family Households)
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Countries Covered
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Ethiopia
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Market Players Covered
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Honeywell International Inc. (U.S.), Siemens (Germany), Johnson Controls (Ireland), Axis Communications AB (Sweden), Schneider Electric (France), ASSA ABLOY (Sweden), Amazon (U.S.), Apple Inc., (U.S.), ADT (US), ABB (Switzerland), Robert Bosch GmbH (Germany), Sony Corporation (Japan), Samsung (South Korea), Ooma Inc., (U.S.), Delta Controls (Canada), Comcast (U.S.), Crestron Electronics Inc., (U.S.), SimpliSafe Inc., (U.S.), Armorax (U.S.), LG Electronics (South Korea), Lutron Electronics Co., Inc (U.S.) and Legrand (France)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The Ethiopia home appliances market is segmented on the basis of product, technology, distribution channel and household type.
- On the basis of product, the Ethiopia home appliances market is segmented into refrigerator, air conditioner, heaters, washing machines, cleaning appliances, gas stove, cooking range, microwave and oven and others.
- On the basis of technology, the Ethiopia home appliances market is segmented into manual home appliances and smart home appliances.
- On the basis of distribution channel, the Ethiopia home appliances market is segmented into supermarkets/hypermarkets, specialty stores, e-commerce, and others.
- On the basis of household type, the Ethiopia home appliances market is segmented into family households and non-family households.
Major Players
Data Bridge Market Research recognizes the following companies as the Ethiopia home appliances market players in Ethiopia home appliances market are Honeywell International Inc. (U.S.), Siemens (Germany), Johnson Controls (Ireland), Axis Communications AB (Sweden), Schneider Electric (France), ASSA ABLOY (Sweden), Amazon (U.S.).
Market Developments
- In May 2023, Samsung introduced its 2023 lineup of semi-automatic washing machines, featuring innovations such as the Soft Closing Toughened Glass Lid and Dual Magic Filter. These enhancements provide users with a more convenient and efficient laundry experience. The Soft Closing Toughened Glass Lid ensures safety and durability. At the same time, the Dual Magic Filter improves the washing machine's performance, making this new range an attractive choice for those seeking a seamless laundry solution.
- In March 2023, Haier unveiled its latest line of top-load washing machines, featuring innovative anti-scaling technology, a bionic magic filter, and a 3D rolling wash. These advancements cater to contemporary lifestyle demands, ensuring an efficient and effortless laundry experience while safeguarding fabric quality, aligning with modern consumer needs for convenience and clothing care.
- In January 2023, Samsung introduced its premium Side-by-Side Refrigerator range, entirely manufactured in India. This range incorporates India-specific features derived from consumer insights, enhancing convenience and improving consumers' daily lives. It reflects Samsung's commitment to tailoring products to local preferences and needs for a better user experience.
- In July 2020, Sony Corporation introduced the "Sony Talent League by THU," which empowers emerging creators to explore the future of the digital entertainment industry. By fostering talent and creativity, Sony anticipates increased sales and revenue. This initiative aligns with Sony's commitment to nurturing innovation and supporting the development of the company and the broader digital entertainment sector, solidifying its position as a leader in the industry.
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