The global market for household appliances is being transformed by five major trends: increased consumer power, digitalization, sustainability, consolidation and a growing middle class.
While these changes are placing demands on investments and economies of scale, they are also presenting major opportunities, read more in Electrolux for Investors.
The coronavirus pandemic resulted in more time spent at home. Several markets benefitted from consumers allocating more of their household budgets to home improvement in the second half of 2020.
Market demand for core appliances in Europe increased by 3% in 2020. This was driven by growth of 8% in Eastern Europe and of 1% in Western Europe. In the U.S., market demand for core appliances increased by 6%. Market demand in Brazil is estimated to have increased in 2020, while demand in Argentina and Chile is estimated to have declined, due to restrictions to limit the spread of the coronavirus and political instability. In Asia-Pacific, Middle East and Africa, overall consumer demand for appliances is estimated to have declined in 2020, mainly due to lockdowns to limit the spread of the coronavirus and recessions. However, consumer demand in Australia, one of Electrolux main markets, grew strongly.
Read more about the appliances market, Electrolux position and priorities in different regions. See pdf-file below.
The graphs below show the market development for core appliances in Europe and North America.
Source Europe: Electrolux estimates.