Visitors to IFA 2024 have a unique opportunity to get a glimpse into the future of the household appliances market. According to GfK, An NIQ Company, steam laundry, innovative vacuum cleaners and cooling solutions are areas ripe for growth.
Steam powered laundry: a hygienic (r)evolution
The pandemic heightened our awareness of hygiene, and steam solutions are capitalising on this momentum. Washing machines are leading the charge, with a 37% market share globally in the past 12 months up to June 2024. Steam functions, from bacteria-killing to wrinkle-free results, are driving consumer purchases. Prices for steam-equipped washers also dropped by 8% compared to 2023, addressing the need for affordability.
Dryers are also making a comeback. After a two-year decline, tumble dryers saw 10% revenue growth this year compares to 2023. Energy cost reductions are playing a role in this increase. In the Middle East and Western Europe the market surged by 64% and 13%, respectively. Wash & Dry towers, though a niche category, gained traction in countries like Korea, leading to a 14% revenue increase globally.
A steady recovery for smart and multifunctional products – again!
Vacuum cleaners remain the top category in small domestic appliances, showing a 3% increase as they rebound from last year’s downturn. This growth is sustained by ongoing advancements in the field. Handstick vacuum cleaners, the largest segment, saw a 2% decline in value despite an increase in volume, due to commoditisation and price competition. However, the most significant innovations and premium features were observed in wet and dry models. The market for the new generation of robotic vacuums grew by 15%, with robots equipped with docking stations and wet/dry extraction capabilities achieving an extraordinary 190% growth in the first half of 2024. The wet and dry vacuum segment stands out with an 8% increase in value, marking a significant rise in market share.
Dishwashers: Energy efficiency and smart features make the difference
In Europe, A, B, and C-labeled dishwashers saw a remarkable 58% growth compared to 2024, fueled by energy efficiency and smart features. Major brands are pushing smart dishwasher models, resulting in close to double-digit revenue growth year-on-year.
Climate change amplifies need for cooling solutions
Climate change is intensifing demand for cooling solutions. Air conditioners are now essential in regions like India, Southeast Asia, and Latin America. Heatwaves drove sales up by 29% in India, and 38% in Latin America. Despite demand volatility, the global air conditioner market is poised for further growth, especially in emerging countries.
Climate change and pollution are also pushing consumers who prioritise health and fitness to look for technology-based solutions. Air treatment is one category which has grown by 3% in the first half of 2024, primarily driven by phenomenal performance of the air cooler segment.
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