CLEVELAND, OH – According to World Major Household Appliances, a new study by The Freedonia Group, world demand for major household appliances is projected to increase 3.1% annually through 2011, exceeding 480 million units.
Demand in the Asia/Pacific region will continue to see above average urban population growth and strong gains in the number of households. India is predicted to have the fastest growth of any nation. Other areas that are predicted to see above average growth are Africa/Middle East and Latin America.
Growth is also anticipated in developed nations primarily supported by replacement demand as users replace broken equipment and trade up to newer models. Microwave ovens will show the fastest gains of any product group through 2011.
|
World Major Household Appliances Demand (million units) |
|||||
|
|
|
|
|
% Annual Growth |
|
|
Item |
2001 |
2006 |
2011 |
2001-2006 |
2006-2011 |
|
Major Appliances Demand |
333.6 |
413.0 |
480.2 |
4.4 |
3.1 |
|
North America |
68.1 |
76.6 |
86.5 |
2.4 |
2.5 |
|
Western Europe |
73.5 |
82.0 |
88.1 |
2.2 |
1.5 |
|
Asia/Pacific |
120.4 |
165.5 |
200.3 |
6.6 |
3.9 |
|
Other Regions |
71.6 |
88.9 |
105.3 |
4.4 |
3.4 |
The 434-page World Major Household Appliance is available for $5,800 from The Freedonia Group Inc. More information can be found at www.freedoniagroup.com.
Have something to say? Share your thoughts with us in the comments below.