European Consumer Electronics Market size is estimated to surpass USD 450 billion by 2027, according to a latest forecast report by Graphical Research.
The growing consumer shift from semi-automatic to smart home appliances has driven the market growth. The rising demand for small electric appliances in European countries, such as Germany, the UK, and France, can be attributed to growing consumer disposable incomes in the region. Furthermore, established players are expanding their customer base in Europe by strengthening their distribution channels. For instance, in September 2019, LG Electronics announced its plans to ramp up investments in the manufacturing of home appliances to cater to the rising demand from European households.
There is a high demand for energy-efficient systems with government bodies pushing the general population to use energy-efficient consumer electronics. Considering this trend, consumers in the region tend to spend higher on energy-efficient electronics. For instance, consumers pay approximately 18% more for a washing machine and upwards of 35% above the average MSRP for a fridge of a higher-energy efficiency class.
Browse detailed statistical insights from the report, “Europe Consumer Electronics Market Forecast 2027 By Product (Audio & Video Equipment [Personal, Professional], Major Household Appliances, Small Household Appliances, Digital Photo Equipment [Personal, Professional]), By Application (Personal, Professional), Research Report, Country Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The COVID-19 pandemic marginally impacted the consumer electronics industry in Europe. The COVID-19-related lockdown measures implemented across the region had massive effects on the economy, pushing it to a state of recession. As manufacturing plants were shut down, supply chain disruptions and the temporary closure of distribution channels forced the market to decline in the first half of 2020.
The personal consumer electronics segment will grow rapidly over the projected timeframe due to the rising prominence of advanced and wireless technologies. Additionally, most devices, especially laptops, PCs, and TVs, are designed for long-term uses and have a long-life span.
The European consumer electronics market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD million from 2016 to 2027 for the following segments:
Europe Market, By Product
- Audio & video equipment
- Major household appliance
- Small household appliance
- Digital photo equipment
Europe Market, By Application
The above information has been provided for the following countries: