Russian Home Laundry Appliances Sector Discussed by Euromonitor in New Research Report Published at MarketPublishers.com02 Apr 2015 • by Natalie Aster
LONDON – As a result of market saturation, the total retail sales of home laundry appliances in Russia saw a 1% decline in volume. The automatic washing machines category leads the market, capturing 98% of total home laundry appliances retail sales volume as of 2014. Given the high levels of penetration (70%) of automatic washing machines in the country, the demand for new products remains poor. Both local production and net imports of home laundry appliances declined in Q1 2014. The poor macroeconomic situation and Russia's currency depreciation against the U.S. dollar and euro had an adverse effect on domestic manufacturers, as important components, like engines and metal, for the production of home laundry appliances have to be imported.
Over the forecast horizon, the country’s home laundry appliances are projected to see retail sales growth, at a CAGR of 1%, in both value and volume terms at constant 2014 prices. A developed loan market and moderate price increase will keep on providing consumers with opportunities to purchase home laundry appliances. The growth in the home laundry appliances market is also set to be driven by replacement purchases, and also by growth in the less developed market categories.
LG Electronics dominated the home laundry appliances market in 2014, with a share of 25% in the total retail sales volume. Indesit Russia and Samsung Electronics Rus OOO are second and third largest market players, respectively.
New market research study “Home Laundry Appliances in Russia” drawn up by Euromonitor International provides an extensive analysis of the Russian home laundry appliances marketplace. It provides the actual retail sales values and volumes for 2010-2014, enabling to understand what sectors are driving growth. The research report offers a discussion of the leading companies, the top brands along with a strategic analysis of major factors that are influencing the market, including novel product developments, distribution issues or format trends. Forecasts through to 2019 are provided in the study to show how the national home laundry appliances sector is set to evolve in the coming years.
Home Laundry Appliances in Russia
Published: March, 2015
Price: US$ 900.00
More new reports by the publisher can be found at Euromonitor page.