The
global Home
Appliances Glass Market size is expected to reach USD 10.40 billion by
2030, according to a new report by Grand View Research, Inc., expanding at a
CAGR of 4.0% from 2022 to 2030. Growing demand for products such as microwaves,
cooking appliances, and refrigerators owing to improvements in living
standards, rising need for comfort, and inclination towards working remotely is
likely to assist the market growth.
Tempered,
laminated, low-E, and ceramic are a few types of glass, which find application
in home appliances, of which ceramic glass is extensively used in electric
gas stoves and cooktops. It is a suitable choice owing to its properties such
as thermal shock resistance and higher strength compared to tempered glass.
Rising
investments in the home appliances industry are anticipated to augment the
product demand over the forecast period. For instance, in November 2021,
Whirlpool Corporation announced its plan to invest USD 65 million to
manufacture a built-in refrigerator model at the Ottawa plant in the U.S. The
company is expected to start its operations by 2023, which is projected to
boost the company’s footprint in the North American market.
Asia
Pacific held the largest revenue share in 2021. The regional market is
characterized by new joint ventures and rising investments in manufacturing
plants. For instance, in July 2021, IFB Home Appliances partnered with Xeros
Technologies to implement a new range of washing machines with water and
energy-efficient properties. The company is planning to attract institutional
and commercial consumers for automated washing machines in the region.
Various
growth strategies such as new product development and capacity expansions by
market players are likely to benefit the market growth. For instance, in July
2022, Godrej Appliances announced an investment of INR 200 crore (~USD 2.43
million) in the expansion of its premium range of products, including frost-free
refrigerators and automatic washing machines.
Related Press
Release@ Home
Appliances Glass Market Report
Home Appliances Glass Market Report Highlights
- Based on
application, refrigerators are expected to witness the fastest growth over
the forecast period. This can be attributed to the rising use of glass in
refrigerator shelves and doors
- In terms of
revenue, cooking appliances are anticipated to register a CAGR of 3.5%
over the forecast period. Growing demand for cooking appliances due to the
rising middle-class population and improving living standards are expected
to boost the demand for glass over the coming years
- India is
expected to register a lucrative CAGR of 5.7%, in terms of revenue, over
the forecast period. India has immense growth potential owing to its rapid
development and large population, which, in turn, is attracting new
investors. For instance, in April 2022, the Europe-based BSH Home
Appliances Group announced to achieve 75% localization in the country by
2025
- The market
is characterized by intense competition owing to the presence of a number
of players opting for operational cost optimization through business
restructuring
Related Press Release@
Home Appliances Glass Market Report
Scope
|
Report Attribute |
Details |
|
Market size value in 2022 |
USD 7.56 billion |
|
Revenue forecast in 2030 |
USD 10.40 billion |
|
Growth rate |
CAGR of 4.0% from 2022 to 2030 |
|
Market demand in volume in 2022 |
1,277.1 kilotons |
|
Volume forecast in 2030 |
1,694.6 kilotons |
|
Growth rate |
CAGR of 3.5% from 2022 to 2030 |
|
Base year for estimation |
2021 |
|
Historical data |
2017 - 2020 |
|
Forecast period |
2022 - 2030 |
Home Appliances Glass Market Segmentation
Grand
View Research has segmented the global home appliances glass market on the
basis of application, and region:
Home Appliances Glass Application Outlook (Volume,
Kilotons; Revenue, USD Million, 2017 - 2030)
- Refrigerators
- Cooking
Appliances
- Hot Water
Appliances
- Microwaves
- Others
Home Appliances Glass Regional Outlook (Volume,
Kilotons; Revenue, USD Million, 2017 - 2030)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Asia Pacific
- China
- India
- Japan
- Central
& South America
- Brazil
- Middle East
& Africa
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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