It is expected that the global smart home appliance market will reach $58.51 billion by 2030.
This growth will bring significant opportunities for home appliance retailers and custom integrators. To succeed in the home appliance market, several key trends that need to be addressed are sustainability, ease of use, and connectivity.
The product that consumers want is easy to use and not burdensome. In order to meet these needs, enterprises are constantly introducing new technologies, such as induction cookers, Microplastics filters and temperature adjustable refrigerators, which are worthy of attention.
The following are some major events in the first quarter of 2023 that will cause waves in the smart home appliance industry in the coming years.
GE plans to produce a new induction furnace
GE will add 14 new induction furnaces to its Monogram, CAFE, and GE Profile brands. Induction cooking utilizes magnetism to directly heat cookware, rather than transferring heat from the stove, which is both energy-saving and faster than gas or electric stoves. The uniqueness of GE's newly launched induction cooker lies in the company's precision temperature control technology, which allows users to set the cooking surface to a specific temperature and synchronize with SmartHQ applications to provide an optimized cooking experience.
There are numerous opportunities in the air conditioning market
According to a new report released by researchandmarkets.com, the global air conditioning market is expected to grow by $19.65 billion by 2027, with a compound annual growth rate of 2.87%. The main driving force for this growth will be the increase in residential construction and the transition to more environmentally friendly R32 refrigerants.
According to a report by Grand View Research, the estimated value of the US HVAC market as of 2022 is approximately $17.15 billion. It is expected that between 2025 and 2030, the growth rate of the US industry will surpass that of the global market, with a compound annual growth rate of 6.5%. In the United States, 2 to 3 million cooling systems are replaced annually, and the cost of system maintenance exceeds $10 billion.
In summary, the market for air conditioning in the United States and globally is huge, providing a lot of upward space for home appliance retailers. When considering the air conditioning market, it is important to remember that a large portion is composed of independent or portable devices that can be sold directly to consumers.
Elastic temperature refrigerator
Elastic temperature refrigerators are an emerging development in the field of household appliances, providing users with a multi dynamic space that can be used as freezers or refrigerators. This new feature is particularly prominent in Samsung Electronics' 2023 series refrigerators. FlexZone can be used in the enterprise's customized series, allowing users to switch between different temperature settings.
Decomposing plastic
Microplastics produced by commercial product development or large-scale plastic decomposition can be seen everywhere on the earth, from the deepest ocean to the tap water we drink. According to Reuters, the average person consumes plastic equivalent to one credit card per week.
This may be surprising, but household appliances, especially washing machines, are the main source of global Microplastics pollution