The home appliances market spans diverse household devices, encompassing kitchen appliances, laundry machines, and smart home solutions. These electric or mechanical devices enhance daily tasks and chores, such as refrigerators, ovens, vacuum cleaners, and more. With a focus on comfort in residential spaces, these technologies streamline and elevate various aspects of daily living, making them integral components of modern homes worldwide.
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Data Bridge Market Research analyses that the Nigeria Home Appliances Market which was USD 4,66,873.66 thousand in 2021 and is expected to reach USD 6,29,184.77 thousand by 2029, registering a CAGR of 3.80% during the forecast period of 2022 to 2029. Nigeria's growing population fuels demand for home appliances, with households seeking efficient solutions for daily tasks. This trend underscores a rising need for modern and time-saving technologies.
Key Findings of the Study
Technological advancements are expected to drive the market's growth rate
The home appliances market thrives on ongoing technological advancements, with smart features, energy efficiency, and enhanced functionalities fueling consumer demand. IoT integration facilitates remote control and monitoring, adding to convenience. Manufacturers invest in research and development to meet evolving preferences, incorporating upgrades in design and materials for improved durability and aesthetics. As consumers increasingly seek modern, efficient, and connected appliances, technological innovation expands product offerings, fostering sustained growth and heightened market competitiveness in the home appliances industry.
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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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 Nigeria home appliances market is segmented on the basis of product, technology, distribution channel and household type.
- On the basis of product, the Nigeria 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 Nigeria home appliances market is divided into manual home appliances and smart home appliances
- On the basis of distribution channel, the Nigeria home appliances market is segmented into supermarkets/hypermarkets, specialty stores, e-commerce, and others
- On the basis of household type, the Nigeria home appliances market is divided family households and non-family households
Major Players
Data Bridge Market Research recognizes the following companies as the major Nigeria home appliances market players in Nigeria home appliances market are 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)
Market Developments
- In May 2023, Samsung launched its 2023 line of semi-automatic washing machines, featuring innovations including a Soft Closing Toughened Glass Lid and Dual Magic Filter. These enhancements ensure a seamless laundry experience, making the latest range an ideal choice for households seeking advanced and user-friendly washing solutions
- In March 2023, Haier launched an innovative range of anti-scaling top load washing machines featuring advanced technologies such as anti-scaling technology, bionic magic filter, and 3D rolling wash. This lineup caters to modern lifestyles, ensuring an efficient and effortless laundry experience while prioritizing fabric care, reflecting Haier's commitment to technological excellence in home appliances
- In November 2022, Lowe's strengthened its premium appliance selection by partnering with Miele, emphasizing a commitment to diverse, high-quality offerings at various price points. This strategic partnership enhances Lowe's product range, reflecting a dedication to meeting customer needs with top-tier appliances and reinforcing the brand's reputation for quality and innovation
- In November 2022, Whirlpool Corp. revealed its commitment to seamless smart home integration by declaring support for Matter, a leading standard in smart home connectivity. This move signifies Whirlpool's dedication to enhancing the compatibility and interoperability of its smart appliances within diverse home ecosystems, promoting a more cohesive user experience
- In April 2022, Samsung forged a strategic partnership with ABB Group, a power and automation solutions leader. The partnership focused on accelerating the integration of SmartThings into numerous buildings and homes. This joint effort aimed to empower users by reducing costs and fostering a more environmentally friendly impact through innovative smart technology applications
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