Just Published: "Refrigeration Appliances in Greece"

Despite the continuing recession in Greece and a new package of harsh austerity measures being implemented in 2015, refrigeration appliances displayed signs of growth, with a 7% increase in volume terms. This can be attributed to the fact that in the context of the recession, mass unemployment and shrinking disposable incomes, Greeks postponed replacing their refrigeration appliances for years, and instead opted to repair them, which resulted in steep declines in sales over the review period. As repairing old appliances was in many cases no longer an option, it became a necessity for many households to acquire new appliances.

Competitive Landscape

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BSH Ikiakes Siskeves led refrigeration appliances in 2015 with a 24% volume share. Its Bosch brand witnessed the highest increase in volume sales, to reach a 12% share. This can be explained by the fact that Bosch expanded its range of entry-level appliances in an effort to increase its volume share. Furthermore, growing fear of an exit from the eurozone and a deposits "haircut" during 2015 led some consumers to regard the acquisition of a premium refrigeration appliance as an investment for the future. In this context, many households preferred to buy a premium Bosch appliance, since it is a trusted brand in Greece.

Industry Prospects

The number of new households and new constructions is not expected to witness an increase in the years to come, and this will be a major obstacle to growth for refrigeration appliances in the forecast period. Nevertheless, growth in refrigeration appliances is set to be positive, with a volume CAGR of 1%, deriving from existing households replacing their old refrigeration appliances. Value sales are set to remain stable, as the average unit price is expected to drop due to the latest socioeconomic developments in Greece. This will result in consumers becoming more price-sensitive and trading down to cheaper, lower-tier products.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Refrigeration Appliances industry in Greece with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Refrigeration Appliances industry in Greece, our research will save you time and money while empowering you to make informed, profitable decisions.

The Refrigeration Appliances in Greece market research report includes:

* Analysis of key supply-side and demand trends
* Detailed segmentation of international and local products
* Historic volumes and values, company and brand market shares

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