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The Latin America home appliances market size was valued at USD 57.36 billion in 2023. The market is further projected to grow at a CAGR of 5.3% between 2024 and 2032, reaching a value of USD 91.68 billion by 2032.
The increasing urbanisation and rising disposable incomes in the region are driving the demand for home appliances. Secondly, the market is witnessing substantial growth due to the introduction of innovative kitchen appliances with multi-utility features that are catching the attention of consumers. These appliances offer large capacity, aesthetically pleasing appearance, high efficiency, and durability. At the Latin American Electronics & Latin American Housewares 2023 event, several new home appliances were launched, including the Evolut Home line with intelligent products and white base gamer chairs with new pastel colours.
Lastly, the growing middle-class population is driving the Latin America home appliances market growth of household appliances in Brazil, Argentina, Colombia, and other parts of South America. The market is also benefiting from the growing popularity of frozen food products.
Air conditioners hold a significant market share, with Brazil, Mexico, and Argentina being the key markets. The demand for air conditioners is driven by rising disposable income and the need for comfort in hot and humid climates. Global manufacturers are entering the Latin American market with smart features like Wi-Fi and remote connectivity to capture a larger market share.
Washing machines are another significant segment in the Latin America home appliances market, with a high demand in Brazil, Mexico, and Argentina. The demand for washing machines is driven by changing consumer lifestyles, increasing dual-income households, and the need for time-saving appliances. Water purifiers also are in high demand due to the need for clean and safe drinking water and the growing demand for smart and eco-friendly models. Samsung has introduced its Bespoke Home flagship store in Mexico, offering a range of customisable home appliances like refrigerators, dishwashers, ovens, washing machines, dryers, and vacuum cleaners.
Latin America Home Appliances Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
Market Breakup by Price Range
Market Breakup by Distribution Channel
Market Breakup by Country
Market players are concentrating on innovating their products and expanding their market presence to capitalise on the growing demand for home appliances in the region.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product |
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Breakup by Price Range |
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Breakup by Distribution Channel |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Home Appliances Market Overview
8.1 Key Industry Highlights
8.2 Global Home Appliances Historical Market (2018-2023)
8.3 Global Home Appliances Market Forecast (2024-2032)
8.4 Global Home Appliances Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Latin America Home Appliances Market Overview
9.1 Key Industry Highlights
9.2 Latin America Home Appliances Historical Market (2018-2023)
9.3 Latin America Home Appliances Market Forecast (2024-2032)
10 Latin America Home Appliances Market by Product
10.1 Major Appliances
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.1.3 Market by Type
10.1.3.1 Air Conditioners
10.1.3.2 Refrigerators
10.1.3.3 Washing Machines
10.1.3.4 Dishwashing Machines
10.1.3.5 Ovens
10.1.3.6 Others
10.2 Small Appliances
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.2.3 Market by Type
10.2.3.1 Vacuum Cleaners
10.2.3.2 Grills and Roasters
10.2.3.3 Food Processors
10.2.3.4 Air Purifier
10.2.3.5 Coffee/Tea Makers
10.2.3.6 Water Purifier
10.2.3.7 Others
11 Latin America Home Appliances Market by Price Range
11.1 Economy
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Mid-Economy
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Premium
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
12 Latin America Home Appliances Market by Distribution Channel
12.1 Supermarkets and Hypermarkets
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Specialty Stores
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Online
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Latin America Home Appliances Market by Country
13.1 Brazil
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Mexico
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Argentina
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators of Demand
14.4 Key Indicators of Price
15 Trade Data Analysis (HS Code – 8509, 8450, 84182)
15.1 Major Importing Countries
15.1.1 By Volume
15.1.2 By Value
15.2 Major Exporting Countries
15.2.1 By Volume
15.2.2 By Value
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Robert Bosch GmbH
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Koninklijke Philips N.V.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Electrolux AB
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Samsung Electronics Co. Ltd.
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 LG Electronics Inc.
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Whirlpool Corporation
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Panasonic Holdings Corporation
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Hisense Corporation
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 De’Longhi S.p.A.
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 Hitachi, Ltd.
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Mabe S.A. de C.V.
16.2.11.1 Company Overview
16.2.11.2 Product Portfolio
16.2.11.3 Demographic Reach and Achievements
16.2.11.4 Certifications
16.2.12 Gree Electric Appliances, lnc.
16.2.12.1 Company Overview
16.2.12.2 Product Portfolio
16.2.12.3 Demographic Reach and Achievements
16.2.12.4 Certifications
16.2.13 Midea Group Co. Ltd.
16.2.13.1 Company Overview
16.2.13.2 Product Portfolio
16.2.13.3 Demographic Reach and Achievements
16.2.13.4 Certifications
16.2.14 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Home Appliances Market: Key Industry Highlights, 2018 and 2032
2. Latin America Home Appliances Market: Key Industry Highlights, 2018 and 2032
3. Latin America Home Appliances Historical Market: Breakup by Product (USD Billion), 2018-2023
4. Latin America Home Appliances Market Forecast: Breakup by Product (USD Billion), 2024-2032
5. Latin America Home Appliances Historical Market: Breakup by Price Range (USD Billion), 2018-2023
6. Latin America Home Appliances Market Forecast: Breakup by Price Range (USD Billion), 2024-2032
7. Latin America Home Appliances Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
8. Latin America Home Appliances Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
9. Latin America Home Appliances Historical Market: Breakup by Country (USD Billion), 2018-2023
10. Latin America Home Appliances Market Forecast: Breakup by Country (USD Billion), 2024-2032
11. Major Importing Countries by Volume
12. Major Exporting Countries by Volume
13. Major Importing Countries by Value
14. Major Exporting Countries by Value
15. Latin America Home Appliances Market Structure
In 2023, the market reached an approximate value of USD 57.36 billion.
The market is expected to grow at a CAGR of 5.3% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 91.68 billion by 2032.
The market is being driven due to increasing urbanization and rising disposable incomes, introduction of innovative kitchen appliances with multi-utility features, and increasing demand for smart home appliances.
Key trends aiding the market expansion include growth in the middle-class population, rise of e-commerce channels, and shift in consumer preferences towards locally produced appliances.
Countries considered in the market are Brazil, Mexico, and Argentina, among others.
Based on product, the market segmentations include major appliances (air conditioners, refrigerators, washing machines, dishwashing machines, ovens, among others) and small appliances (vacuum cleaners, grills and roasters, food processors, air purifier, coffee/tea makers, water purifier, among others.)
Economy, mid-economy, and premium prices are considered in the report.
Key players in the market are Robert Bosch GmbH, Koninklijke Philips N.V., Electrolux AB, Samsung Electronics Co. Ltd., LG Electronics Inc., Whirlpool Corporation, Panasonic Holdings Corporation, Hisense Corporation, De’Longhi S.p.A., Hitachi, Ltd., Mabe S.A. de C.V., Gree Electric Appliances, Inc., and Midea Group Co. Ltd., among others.
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