Boston, MA -- (ReleaseWire) -- 06/09/2014 -- Over 2013 home laundry appliances in Russia continued to grow in volume terms and by the end of the year increased by 8% to reach 5.6 million units. The category continued to be driven mainly by automatic washing machines, which by the end of the year accounted for 98% of overall home laundry appliances volume sales. Despite disturbances in the category related to economic instability in the Russian and global economy, as well as the fact that automatic washing machines are getting close to saturation with household penetration reaching 69%, this category still posted relatively confident growth in both volume and current value terms.
Over 2013 Indesit continued to lead in home laundry appliances in Russia and by the end of the year increased its volume share by one percentage point compared to the previous year, to reach 24%. LG Electronics remained the second leading company holding a 20% volume share. The company was able to maintain its volume share relatively unchanged in 2013 compared to the previous year. Both Samsung and BSH Bytowaja Technika held 10% volume shares in 2013.
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Over the forecast period home laundry appliances is expected to record a CAGR of 5% in volume sales and a CAGR of 5% in value sales at constant 2013 prices. In the upcoming years sales of home laundry appliances will be mainly driven by a growing consumer lending market, which will give consumers more opportunities to make credit purchases of home laundry appliances. Growth of home laundry appliances will also be stimulated by replacement purchases as consumers will be willing to buy a new piece of home laundry appliance to replace an old one. Last but not least, the penetration of automatic washing machines in 2013 was 69%, therefore there are still a large number of consumers who could be potential buyers of automatic washing machines in the future.
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The Home Laundry Appliances in Russia market research report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
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