Market Insights Consumer Household Appliances

Small Appliances - Luxembourg

Luxembourg

in Luxembourg, a country known for its economic prosperity, is also a significant player in the Small Appliances market.
In 2024, the revenue in this segment reached a remarkable figure of US$57.89m.
This shows the country's strong presence in the industry.
Looking ahead, the market is projected to experience an annual growth rate of 3.49%, from 2024 to 2028 (CAGR 2024-2028).
While Luxembourg's contribution to the global revenue may not match that of in China, which generated a substantial US$57bn in 2024, the country's per household revenue stands at an impressive US$205.20.
This indicates the high level of spending on Small Appliances market in Luxembourg households.
As the market continues to expand, the volume in the Small Appliances market is expected to reach 721.3k pieces by 2028.
Moreover, there is a projected volume growth of 1.1% in 2025, highlighting the steady progress of the industry.
In 2024, the average volume per household in the Small Appliances market is estimated to be 2.45pieces, demonstrating the significance of these products in Luxembourg households.
In conclusion, Luxembourg's Small Appliances market shows promising growth potential, with substantial revenue, steady volume growth, and high per household spending.
The country's strong presence in the industry is a testament to its economic prowess.
Luxembourg's market for small appliances is driven by the demand for compact and energy-efficient products that cater to the country's limited living spaces and sustainability-focused consumers.

Key regions: United States, Germany, United Kingdom, Japan, Worldwide

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Analyst Opinion

The small appliances market, which includes products such as vacuum cleaners, microwave ovens, and small kitchen appliances, amongst others, witnessed revenue growth of 10.5% in 2020 and 9.9% in 2021 respectively, when most other markets witnessed a decline, owing to the rising sales of products such as vacuum cleaners amid the pandemic, in many countries. For instance, according to Statista’ Global Consumer Survey, vacuum cleaner ownership in Nigeria rose to 14% as of early 2022, compared to just 6% in 2019. Much of the growth in this market is being driven by emerging economies, amid rising income levels, changing lifestyle, and growing urbanisation.

The introduction of new appliances with new features and technologies is expected to drive market growth further. For instance, LG has launched a new microwave oven with a charcoal lighting feature, which uses considerably less oil and makes it appealing to health-conscious consumers.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on Household Appliances.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, trade data, national statistical office data, third-party studies and reports, survey results from our primary research (e.g., the Statista Global Consumer Survey), as well as performance factors. In addition, we use relevant key market indicators and data from country-specific associations, such as number of households, consumer spending, and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques, such as exponential trend smoothing, for instance. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). GCS data is reweighted for representativeness.