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Major Appliances - Belize

Belize
  • In 2024, the Major Appliances market in Belize generated a revenue of US$21.40m.
  • It is projected to experience an annual growth rate of 3.73% (CAGR 2024-2029).
  • Compared to other countries worldwide, China leads with a revenue of US$102bn in the Major Appliances market in 2024.
  • In terms of household penetration, each household in Belize contributed US$197.20 in revenue in 2024.
  • Looking ahead to 2029, the volume of the Major Appliances market is predicted to reach 45.8k pieces.
  • A growth rate of 1.8% is expected in 2025.0.
  • On average, each household in Belize is predicted to have a volume of 0.39pieces in the Major Appliances market by 2024.
  • Despite its small size, Belize has seen a significant increase in demand for energy-efficient major appliances in recent years.

Definition: Major appliances are typically large and durable, yet they are designed to meet the needs of households and are well-suited for use in residential settings.

Structure: The major appliances segment consists of the following subsegments:

  • Refrigerators
  • Freezers
  • Dishwashing machines
  • Washing machines
  • Cookers & Ovens
  • Air conditioners

Additional Information: The market comprises key performance indicators such as revenues, volume, price per unit, average revenue and volume per household, sales channels, and key players. In addition, a comparable estimates box is provided, which shows the forecasted development of the selected market from different sources.

Note that the volume sales only refer to B2C (business to consumer) sales, via both the offline and the online channel. The average revenue and volume per household are determined by dividing the revenues and volume by the number of households, where a household refers to a house and its occupants, regarded as a unit. Finally, price per unit refers to the cost of a single unit of the product.

For more information on the displayed data, please use the info button right next to the boxes.

In-Scope

  • Refrigerators
  • Freezers
  • Diswashing machines and washing machines
  • Washing machines
  • Cookers and ovens
  • Air conditioners

Out-Of-Scope

  • Dryers
  • Heating appliances
  • Tankless water heaters
  • Water heaters
Major Appliances: market data & analysis - Cover

Market Insights Report

Major Appliances: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: May 2024

    Source: Statista Market Insights

    Most recent update: May 2024

    Source: Statista Market Insights

    Volume

    Most recent update: May 2024

    Source: Statista Market Insights

    Most recent update: May 2024

    Source: Statista Market Insights

    Key Players

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Price

    Most recent update: May 2024

    Source: Statista Market Insights

    Analyst Opinion

    The major appliances market is divided into refrigerators, freezers, dishwashing machines, washing machines, cookers, air conditioners and ovens. The COVID-19 pandemic augured well for the market, with an uptick in volume sales of all products, as consumers placed greater emphasis on cleaning and hygiene. The market witnessed a bit of a slow down amid the Russia- Ukraine war, owing to supply chain disruptions, component shortages and consumers curbing their discretionary spend, but is expected to rebound over the short term.

    Amongst other drivers fueling the market include the growing population and urbanisation, especially in emerging economies, technological advancements, such as smart washing machines and smart refrigerators and the growing trend towards home cooking, which augers well for products such as ovens.

    Sales Channels

    Most recent update: May 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: May 2024

    Source: Statista Market Insights

    Methodology

    Data coverage:

    The data encompasses B2C enterprises. Figures are based on consumer spending on Household Appliances.

    Modeling approach:

    Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, trade data, national statistical office data, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global Survey), as well as performance factors. In addition, we use relevant key market indicators and data from country-specific associations, such as number of households, consumer spending, and price level index. This data helps us estimate the market size for each country individually.

    Forecasts:

    In our forecasts, we apply diverse forecasting techniques, such as exponential trend smoothing, for instance. The selection of forecasting techniques is based on the behavior of the relevant market.

    Additional notes:

    The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Survey data is reweighted for representativeness.

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    Major Appliances: market data & analysis - BackgroundMajor Appliances: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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