Market Insights Consumer Household Appliances Small Appliances

Irons - Hong Kong

Hong Kong

In 2024, the Irons market in Hong Kong is projected to generate a revenue of US$14.88m.
It is anticipated that the market will experience an annual growth rate of 3.89% from 2024 to 2029 (CAGR 2024-2029).
When compared globally, in China stands out as the leading revenue generator, with a projected revenue of US$2,139m in 2024.
Taking into account the total number of households, each household in Hong Kong is expected to generate a revenue of US$5.27 in 2024.
By 2029, the volume in the Irons market is estimated to reach 0.4m pieces units.
In 2025, the segment is expected to demonstrate a volume growth of 1.0%.
Furthermore, the average volume per household in the Irons market is projected to be 0.13pieces units in 2024.
"Despite the rise of innovative and high-tech home appliances, traditional irons continue to be a popular choice among Hong Kong consumers for their reliability and effectiveness."

Key regions: Worldwide, China, Indonesia, India, United States

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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.