New Report Available: Home Laundry Appliances in Greece

From: Fast Market Research, Inc.
Published: Wed Feb 17 2016

A trend towards large capacity washing machines was observed in 2015, with the volume share of 6.0-9.9kg appliances rising by one percentage point and sales of 10.0-11.9kg washing machines also rising. Even larger capacity appliances (12.0-14.9kg and 15+kg) witnessed value growth, whilst all smaller capacity appliances saw declines in their volume shares. As many young people are opting to move back with their parents in an effort to minimise their cost of living, the number of households in Greece continued to diminish during 2015. The popularity of bigger capacity washing machines can thus be attributed to the growing number of occupants in each household. In addition, a decline in the retail prices of larger capacity washing machines in 2015 made their acquisition a preferable choice for consumers compared with smaller capacity appliances, given that larger capacity machines are perceived to offer better value for money by reducing the number of washes per week.

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Competitive Landscape

BSH Ikiakes Siskeves led home laundry appliances in 2015, with a volume share of 28%. This was derived from its brands Bosch, Siemens and Pitsos, with Pitsos witnessing the best performance amongst the company’s brands in 2015. The boost in sales of this domestic brand can be attributed to a desire on the part of many Greeks to support the country’s economy by opting for domestic instead of multinational products. Consumers often regard this as an act of solidarity, but also as a potential solution that could lead the domestic economy to faster recovery.

Industry Prospects

Even though the socioeconomic turmoil in Greece is expected to continue, home laundry appliances is set to register a volume CAGR of 2% over the forecast period. This is due to the fact that consumers avoided replacing their old home laundry appliances for years, and instead opted to repair them in order to save money. As the acquisition of a new home laundry appliance has now become a necessity for many households, the volume sales of this category are expected to rise. However, stagnation in new construction and in the number of new households will still pose an obstacle to volume growth for home laundry appliances.

Report Overview

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

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