Business area Europe continuously focuses on strengthening its product offering through consumer centric innovation, investing in brand building, and maintaining strong cost efficiency. This has resulted in earnings resilience and improved margins as well as strengthened value market positions in the two targeted innovation areas built-in kitchen and premium laundry under the premium brands Electrolux and AEG. The business area has a lean and efficient manufacturing base with a high degree of automation and more than 60% of production capabilities in low-cost regions. In recent years, significant investments have been initiated in Business Area Europe to upgrade the product platforms using a high degree of automation combined with innovative features and design.
Market and Position
- Mature and fragmented market with widely varying consumer needs between countries and many manufacturers, brands and retailers.
- Electrolux is the second largest player with a value market share in core appliances of 16% in 2021 and leading position in the Nordics and Italy.
- Electrolux has a strong position in the targeted segments built-in kitchen and premium laundry.
- A growth market with a significantly lower penetration rate than Western Europe though a large market for replacement products is emerging.
- Dominated by Western manufacturers.
- Electrolux holds a leading position with a value market share in core appliances of 14% in 2021.