The Major Appliances Millionaire's Club

!±8± The Major Appliances Millionaire's Club

www.euromonitor.com Euromonitor International's Head of Global Consumer Appliance Research, Simon Maddrell, discusses the major appliances millionaire's club of 2010. This club is reserved for major appliance manufactures that sold more than one million units in 2010. 40 companies broke the million mark this year. The top five companies are * Whirlpool * Electrolux * Haier * Bosch * LG Whirlpool still has quite a big advantage in the number one spot, although many of its sales of were helped by stimulus packages aimed at consumer appliances. Haier, in third place, actually had many sales coming from China, but a large part of those sales were due to a subsidy program that has been active since 2009. Because of that program, Haier grew the most out of any other company on the list- about 13% in 2010. The companies hardest hit in the millionaire's club are the those doing the bulk of business in developed markets. Developed markets are having the hardest time recovering from recession. Eastern Europe performed poorly in the major appliance market in 2010 as well. Therefore, there is a lot of emphasis for appliance manufactures to maintain share in Western Europe and North America, and expand into emerging markets with the largest middle class. Maddrell explains that the key winners in the club this year have a high exposure to Asia, and are starting to move into Africa. A key example of this is Electrolux's acquisition of Olympus Group. If that deal goes through, Electrolux ...

The Major Appliances Millionaire's Club

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