White goods makers shift production to counter slowing growth

Post by Kevin Jackson on 1st October 2014 in General industry, Laundry, Refrigeration

White goods makers shift production to counter slowing growth

Growth in sales of new domestic appliances and electrical home products will more than halve over the next five years, new analysis suggests.

While sales grew across the world at an average annual rate of 7.1 per cent between 2007 and 2013, that will more than halve, to 3.3 per cent per year up to 2018.

The numbers have been crunched by forecasters Global Data and Research Services.

It notes that kitchen appliance sales currently make up almost half (46 per cent) of the entire domestic appliance market, while laundry accounts for just under 10.5 per cent, and heaters and vacuum cleaners for a little under seven per cent.

The analysts are also predicting a major shift in the main centres of production for white goods and home appliances.

While currently China, Japan, Germany, South Korea and the United States are the powerhouses for manufacturing, the researchers believe Tanzania, Bolivia, Bangladesh, Sri Lanka, and Jordan are all set to see substantial rises in their production facilities as the world’s biggest appliance-makers aim to meet increased demand while containing their production costs.

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