Japan Home Appliances Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 26.82 Billion |
| Market Size (2029) | USD 33.35 Billion |
| CAGR (2024 - 2029) | 4.45 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Japan Home Appliances Market Analysis
The Japan Home Appliances Market size is estimated at USD 26.82 billion in 2024, and is expected to reach USD 33.35 billion by 2029, growing at a CAGR of 4.45% during the forecast period (2024-2029).
The growing need for home appliances is because many adult members of Japanese families work full-time, making it easy for them to use smart appliances to lighten their workload from everyday tasks and other activities. The rising disposable income and high per capita income contribute to the increased demand for home appliances. In addition, Japan's growing elderly population finds that using domestic appliances to take care of the house rather than doing it the old-fashioned way is simple, practical, and easy. Several major companies in the Japanese market provide a range of items to meet the growing demands of consumers. Therefore, the market's expansion will be driven by the rising demand for household appliances.
The growing awareness of global warming and the effects of climate change led consumers to demand energy-saving and environmentally-friendly products, including household appliances. Technological innovation and product innovation, combined with the strong human resources of the Japanese domestic market, resulted in high-end, high-tech, intelligent, eco-friendly, and energy-saving household appliances. They save time, money, and the environment. Moreover, one of the factors driving the market's expansion is consumers' growing choice for eco-friendly and energy-efficient appliances. In the upcoming years, government campaigns to encourage the use of energy-efficient appliances throughout Japan are probably going to make this adoption much easier.
Japan Home Appliances Market Trends
Smart Home Appliances is Driving the Growth of the Market
The growth of the smart home appliances market is mainly driven by the increasing number of smart houses and the increasing internet penetration among users. Consequently, manufacturers are making significant investments to meet the growing demand for feature-rich smart solutions from Japanese consumers. Artificial intelligence-enabled smart air conditioners, washing machines, and refrigerators are growing in popularity. Voice commands are now widely used to operate a variety of appliances, including voice-activated smart home gadgets, such as virtual assistants. Home security systems with cutting-edge capabilities like facial recognition and remote monitoring are becoming more and more popular, improving homeowner convenience and safety. The Japanese market for smart home equipment is expanding as a result of these trends.
Japan's smart appliances market is witnessing rapid growth. A substantial number of consumers with high disposable income are spending on household appliances, including premium & smart appliances. Smart appliances are expected to grow faster than the rest of the market over the next few years. A lot of high-income consumers splurged on their home appliances, especially luxury and smart ones. Smart appliances will automatically send data to the utility company so they can make the most efficient use of their energy.
Increase in the Disposable Income is Contributing to the Growth of the Market
The growth of the Japanese household appliances market is driven by the improvement of the economic conditions and the rise in disposable income. The main effects of the high disposable income are the improved lifestyle and the increase in the purchasing power of the consumers. Household appliances became a part of everyday life. The Japanese household appliance market is expected to experience a surge in growth due to a variety of factors, such as improved standards of living, an increased need to simplify daily tasks, and an increase in disposable income. In recent years, the lifestyle of the population altered significantly due to the rise of working women, which led to a surge in consumer spending on premium and smart appliances. It led to an increase in the demand for these items among urban households due to their ability to save time, streamline the work process, and increase comfort.
Japan Home Appliances Industry Overview
The Japan Home Appliances Market is highly fragmented. The report covers major international players operating in the Japanese home appliances market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets. The major players dominating the market are Haier, Daikin, Hitachi, Panasonic, and Sharp.
Japan Home Appliances Market Leaders
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Haier
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Daikin
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Hitachi
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Panasonic
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Sharp
*Disclaimer: Major Players sorted in no particular order
Japan Home Appliances Market News
- July 2023: AirReps, a Daikin Comfort Technologies North America, Inc. subsidiary, purchased the business and personnel of Integrated Systems and Controls, LLC (Integrated) and InControl. Both companies are operating long and are presently based in the Seattle metropolitan area. Integrated Systems is well-known nationwide for providing OEM warranty support and setup assistance. They deal with some of the trickiest locations and circumstances when it comes to sophisticated machinery and applications.
- April 2022: The Italian manufacturer of hydraulic equipment Duplomatic MS S.p.A. was purchased by Daikin Industries, Ltd. USD 239 million was the acquisition price.
Japan Home Appliances Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 The Rise of Online Retail and E-Commerce Platforms
4.2 Market Restraints
4.2.1 The Risk of Fire and Electrical Short-Circuit in Electrical Appliances
4.2.2 High Power Consumption by Major Household Appliances
4.3 Market Opportunities
4.3.1 The Development of Energy-Efficient Technology
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Impact of COVID-19 on the market
4.6 Insights on Consmuer Buying Behaviour in the Home Appliances Market
5. MARKET SEGMENTATION
5.1 By Major Appliances
5.1.1 Refrigerators
5.1.2 Freezers
5.1.3 Dishwashing Machines
5.1.4 Washing Machines
5.1.5 Ovens
5.1.6 Air Conditioners
5.1.7 Other Major Appliances
5.2 By Small Appliances
5.2.1 Coffee or Tea Makers
5.2.2 Food Processors
5.2.3 Grills & Roasters
5.2.4 Vacuum Cleaners
5.2.5 Other Small Appliances
5.3 By Distribution Channel
5.3.1 Multi-brand Stores
5.3.2 Exclusive Stores
5.3.3 Online
5.3.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Haier
6.2.2 Daikin
6.2.3 Hitachi
6.2.4 Panasonic
6.2.5 Sharp
6.2.6 Electrolux
6.2.7 LG
6.2.8 Midea group
6.2.9 Bosch
6.2.10 Toshiba*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER
Japan Home Appliances Industry Segmentation
A home appliance is anything that makes it easier for you to do things like cook, clean, and store food. It could be called a home appliance, an electrical appliance, or just a home appliance. Major appliances, small appliances, and distribution channels segment the Japan home appliances market. By major appliances, the market is segmented into refrigerators, freezers, dishwashers, washing machines, microwaves and ovens, air conditioners, and other major appliances. By small appliances, the market is segmented into coffee or tea makers, food processors, grills & toasters, vacuum cleaners, and other small appliances, and by distribution channel, the market is segmented into multi-brand stores, exclusive stores, online, and other distribution channels. The report offers market size and forecasts for the Japan home appliances market in value (USD) for all the above segments.
| By Major Appliances | |
| Refrigerators | |
| Freezers | |
| Dishwashing Machines | |
| Washing Machines | |
| Ovens | |
| Air Conditioners | |
| Other Major Appliances |
| By Small Appliances | |
| Coffee or Tea Makers | |
| Food Processors | |
| Grills & Roasters | |
| Vacuum Cleaners | |
| Other Small Appliances |
| By Distribution Channel | |
| Multi-brand Stores | |
| Exclusive Stores | |
| Online | |
| Other Distribution Channels |
Japan Home Appliances Market Research Faqs
How big is the Japan Home Appliances Market?
The Japan Home Appliances Market size is expected to reach USD 26.82 billion in 2024 and grow at a CAGR of 4.45% to reach USD 33.35 billion by 2029.
What is the current Japan Home Appliances Market size?
In 2024, the Japan Home Appliances Market size is expected to reach USD 26.82 billion.
Who are the key players in Japan Home Appliances Market?
Haier, Daikin, Hitachi, Panasonic and Sharp are the major companies operating in the Japan Home Appliances Market.
What years does this Japan Home Appliances Market cover, and what was the market size in 2023?
In 2023, the Japan Home Appliances Market size was estimated at USD 25.63 billion. The report covers the Japan Home Appliances Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Japan Home Appliances Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Japan Home Appliances Industry Report
Statistics for the 2023 Home Appliances in Japan market share, size and revenue growth rate, created by 糖心vlog传媒鈩� Industry Reports. Home Appliances in Japan analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
