Press Release
Press Release
The white goods industry is driven by the growing tendency of consumers towards replacing their old home appliances with new and technologically advanced white goods. The conservation of energy is a vital concern among the users, which is one of the major factors driving the market. As the white goods of the modern era come with 5-star ratings, these products have been receiving increased consumer attention as they are energy-efficient and reduce electricity consumption while offering world-class services. Moreover, the increasing availability of a wide range of electronic goods on online platforms, such as Amazon (NASDAQ: AMZN) and Alibaba (NYSE: BABA), is further contributing to the market growth.
The market is expected to be aided by the rising investments by the leading players to enhance their production capacity. For instance, in March 2021, Blue Star Limited (NSE: BLUESTARCO) took a decision to invest INR 250 crore in a manufacturing plant in Sri City, Andhra Pradesh, India. The manufacturing unit will have a production capacity of five lakh room air-conditioning units per annum. Further, in June 2021, Blue Star expanded its product portfolio by introducing the ice lined refrigerators and vaccine transporters, which are ideal for vaccine transportation. Therefore, these products are likely to witness a surge in sales, owing to the ongoing vaccination drives across the continents.
In terms of region, the Asia Pacific is likely to account for a significant share in the market. This can be attributed to the rising demand for premium white goods in countries like India and China, owing to the rising disposable income, rapid urbanisation, and increasing living standards.
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The major players in the global white goods market are Alliance Laundry Systems LLC, Blue Star Limited, Electrolux AB, Haier Group Corporation, and LG Electronics Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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