Global Cordless Appliances Market to Exhibit a Remarkable CAGR of 6.4% from 2023 to 2031: TMR Report
A key element driving the market value for cordless appliances is the rise in the adoption of practical and intelligent appliances as a result of an increase in the number of smart homes
Wilmington, Delaware, United States, Aug. 23, 2023 (GLOBE NEWSWIRE) -- *Transparency Market Research Inc. -* The global market for cordless appliances was estimated to be worth a market valuation of around US$ 41.4 billion in 2022. The market is anticipated to advance with a steady *6.4% CAGR* from 2022 to 2031 and by 2031, the market is likely to gain US$ 77.2 billion.With the proliferation of smart homes, there is an increase in demand for smart appliances. Cordless appliances offer greater mobility and flexibility, allowing end users to move them anywhere they like, especially when doing chores like cleaning, cooking, and grooming. This is hastening the growth of the market for cordless appliances.
Customers are now choosing cordless appliances since they are more comfortable to use and don't require a good power outlet. This lowers clutter in living spaces and eliminates the need to manage wires. Rapid urbanization is growing demand for cord-free appliances since living spaces shrink and customers seek more space-saving and compact products.
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*Market Snapshot:*
* Report Coverage* * Details*Market Revenue US$ 41.4 BnEstimated Value US$ 77.2 BnGrowth Rate - CAGR 6.4% Forecast Period 2023-2031No. of Pages 120 PagesMarket Segmentation By Product Type, End-use, Distribution ChannelRegions Covered North America ,Europe ,Asia Pacific ,Middle East & Africa ,South AmericaCompanies Covered Braun, Philips, Matika Tools, Cuisinart, Dyson, Tineco, Megachef, Wacaco, Keurig, and Whirlpool Corporation
*Key Findings of Market Report *
· In 2022, the offline market had a more significant market share for cordless appliances.
· A growing number of customers have begun purchasing these appliances via online distribution channels, which is causing the growth rate of the online sales channel to increase consistently.
· In terms of region, North America dominated the global market in 2022.*For In-depth Competitive Analysis, Buy Now:* *https://www.transparencymarketresearch.com/checkout.php?rep_id=85782<ype=S*
*Market Trends **for** Cordless Appliances*
· In 2022, the offline market had an overwhelming market share for cordless appliances. Customers still prefer to purchase appliances from brick-and-mortar stores because they can physically inspect the quality, desired color, and size. They can also get assistance from salespeople regarding various product features, value, and price differences. Many clients are also reassured that they are purchasing the authentic goods thanks to this.
· A number of industry companies are releasing cutting-edge goods and emphasizing eco-friendly designs employing recyclable materials, which also saves energy. The desire for cordless appliances is being fueled by products with advanced battery technology, such as extended battery life and quick charging choices, to satisfy the surge in demand for these appliances throughout the world.
*Global Cordless Appliances Regional Market Outlook*
Various reasons are propelling the growth of the cordless appliances market in different regions. They are:
· In terms of region, North America dominated the global market in 2022. The growth of the North American market for cordless appliances is mostly due to the United States and Canada. The need for more convenient as well as technologically sophisticated items among consumers in this region is what determines market statistics.
· The most recent market research on cordless appliances predicts that throughout the projected period, Europe and Asia Pacific will also become attractive markets for cordless appliances. These gadgets are popular in nations like Japan, China, and India. Asia Pacific's rapid urbanization is anticipated to further fuel the expansion of the cordless appliance market in the region.
*Global Cordless Appliances Market: Key Players *
A large number of businesses operating on a worldwide scale spend in research and development endeavors, mostly to create cutting-edge goods and cordless appliance breakthroughs. To increase their worldwide presence and take advantage of market potential for cordless appliances, they are implementing methods including product portfolio growth and mergers and acquisitions.
Braun, Philips, Matika Tools, Cuisinart, Dyson, Tineco, Megachef, Wacaco, Keurig, and Whirlpool Corporation are leading producers of cordless appliances. To increase their market share, these firms are making cutting-edge upgrades to cordless products.
*Some developments by the key players in the global market for cordless appliances are:*
· The Dyson V12s Detect Slim Submarine wet and dry cordless vacuum cleaner was introduced on August 3, 2023 by Dyson. It contains an LCD screen with a piezo sensor that displays the size and quantity of particles in real time. The company's ability to serve a wider range of clients, boost profit margins, and raise the market share of cordless appliances is anticipated to be aided by the extension of its product line and technical advancements.
· Grenco Science announced the introduction of SpeedPro cordless vacuum cleaners in India on July 4, 2022. The needs of Indian homes were taken into consideration when designing this product. The business is continually working to enhance its product offerings in the global marketplace.
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*Global Cordless Appliances Market Segmentation *
· *By Product Type*
· Vacuum Cleaner
· Upto 300 Watt
· 300 to 700 Watt
· Above 700 Watt
· Mixer
· Full Size Mixer
· Hand Mixer
· Blender
· Full Size Blender
· Hand Blender
· Electric Kettle
· Upto 1 Liter
· 1 to 2 Liter
· Above 2 Liter
· Coffee Maker
· Upto 240 ml
· 240 to 500 ml
· Above 500 ml
· Chopper
· Electric Shaker
· Lamp
· Table Fan
· Iron
· Hair Dryer
· Portable Speakers
· Others
· *End-user*
· Residential
· Commercial
· *By Distribution Channel* · Online
· E-commerce Websites
· Company-owned Websites
· Offline
· Hypermarkets / Supermarkets
· Specialty Stores
· Other Retail Stores
· *Region*
· North America
· Europe
· Asia Pacific
· Middle East & Africa
· South America
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