New Study: Large Cooking Appliances in Greece

From: Fast Market Research, Inc.
Published: Mon Jan 25 2016

Built-in large cooking appliances declined by 3% in volume terms in 2015, thus hindering the growth of overall large cooking appliances. Built-in cooker hoods saw the worst performance, with a 5% volume decline. The decline in sales of built-in appliances was due to the fact that they are mostly linked to new constructions, which are becoming exceedingly rare in Greece as the economic turmoil continues. Furthermore, since built-in products are more expensive than freestanding, consumers turned to the latter as a money-saving solution.

Competitive Landscape

BSH Ikiakes Siskeves led large cooking appliances with a 35% volume share in 2015. Its brand Pitsos witnessed the best performance, increasing its volume share by almost one percentage point, to reach 15%. The other brands marketed by BSH Ikiakes Siskeves (Siemens, Bosch and Neff) also registered small increases in their volume sales, benefiting from the widespread perceptions about the superiority of German appliances and technology.

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Industry Prospects

Large cooking appliances is set to witness a negligible positive volume CAGR over the forecast period. The main factors limiting the growth of this category will be the lack of new construction and the frozen housing market in general. Furthermore, whilst the uncertainty in Greece continues, consumers are expected to remain extremely reluctant to purchase major appliances, and will do so only when there is no other alternative. A negative value CAGR of 1% is expected at constant 2015 prices over the forecast period. This is primarily due to the fact that prices are set to continue to decline, even though they have already been significantly squeezed, leaving little room for profit. Discounts and aggressive promotional activities will be the main reasons for the price decline. At the same time, consumers will be more likely to opt for low-tier large cooking appliances in order to save money.

Report Overview

Discover the latest market trends and uncover sources of future market growth for the Large Cooking 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 Large Cooking Appliances industry in Greece, our research will save you time and money while empowering you to make informed, profitable decisions.

The Large Cooking 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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