Russia Household Appliances Market Outlook

The russian household appliances market is expected to show good growth over the forecast period from 2018 to 2032. the total market volume is expected to grow at a cagr of 4.3%. major factors driving market growth include increasing urbanization, rising disposable incomes, and changing consumer lifestyles. the market is segmented on the basis of product type, including air conditioners, refrigerators, television sets, washing machines and dishwashers. air conditioners lead the market with a 37% share and are expected to show strong growth over the forecast period. this is attributed to rising summer temperatures in the country as well as the increasing awareness of air conditioning benefits. refrigerators account for a 28.1% of the overall domestic appliance market share. this segment is expected to witness higher growth over the forecast period due to increasing urbanization and the availability of a variety of designs and formats. television set demand is also expected to grow despite increasing digital streaming. this segment is fuelled by competitive pricing and features such as high definition resolution and smart capabilities. washing machines are also expected to show good growth due to rising consumer—mentalities and adoption of modern technologies. the dishwasher segment is also slowly gaining traction due to effective delivery models and rising popularity of home cooking. on the basis of distribution channels, the market is segmented into online and offline channels. offline channels remain dominant, accounting for 76.2% of the market volume. however, the online segment is expected to grow at a high rate of cagr 9.2%. this is due to increasing availability of discounts, ease of access, and convenience. the russian household appliances market is highly competitive with the presence of both international and domestic companies. major global players in the market include whirlpool, electrolux, haier, panasonic, bosch, samsung, and lg. domestic players such as atlant, roventa, stinol, and baltic are also present. the competitive landscape is expected to remain unchanged in the foreseeable future due to the high degree of consolidation. overall, the russian household appliances market is expected to show good growth over the forecast period. factors such as increasing disposable incomes, rising urbanization, and changing lifestyles are driving market growth. the competitive landscape is expected to remain unchanged in the near future due to the high degree of consolidation.