Advancement in Technologies and speed of development are supporting the growth of South Korean Major Home Appliances Market. Smart Home appliances have become a vital part of the home appliances market in South Korea.

Major home appliances in South Korea is witnessing growth in the market due to constant innovation by the manufacturers. Samsung and LG are innovating new products such as refrigerators and washing machines with larger capacity for greater food storage.

Product innovations and government policies are fostering the growth of IoT in the major appliances segment. The major home appliances market in South Korea is driven by increasing single families, premiumization of products, personalization, and cost reduction by automation in the home appliances market. Fine articulate on the other hand has been an issue in the major home appliances market for some of the consumers seeking a healthy lifestyle.

Key Market Trends

Washing Machines are Highly Demanded Major Appliances in South Korea

Koreans demand for washing machines is constantly rising with front load washing machines gaining more share in the market. The top load washing machines are losing share to front-load machines due to their more powerful function and uses in the commercial sector. On the other hand, automatic dryers are also gaining popularity. South Koreans are also preferring washing machines with IoT and look for premium segment washing machines. In 2019, LG launched a 25 kg front load washing machine while LG introduces a washing machine in the premium segment.

Rising Popularity of Dishwashers Among South Koreans

Dishwashers are drawing attention as the household’s appliance that decreases household labor for the South Koreans. There is an upward trend in buying dishwashers in the South Korea large home appliance market. Millennials and working couples of the country are demanding dishwashers to seek convenience.

Dishwashers are emerging as must-have for households in South Korea’s market. The popularity of dishwashers has been rising among different age groups in the market. Different age groups are more and more interested in having dishwashers in the country as they help people in washing dishes by saving time.

Competitive Landscape

The large home appliances market in South Korea is competitive with the presence of local manufacturers and global manufacturers. There is a rise in competition in the country by the presence of Japanese and Chinese players. The manufacturer, therefore, is producing products in the overseas market to cater to demand in the premium category. Key companies in the market include LG and Samsung.

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