Boston, MA -- (SBWIRE) -- 06/10/2014 -- Amidst the worst recession of the last decade, more and more Portuguese consumers were forced to choose between "must have" appliances and "nice to have" appliances. Dishwashers are increasingly falling into the "nice to have" - if not outright luxury - category, as the government-induced austerity measures cut salaries, raised taxes throughout Portugal and sliced disposable incomes, leaving little room for such purchases.
The leading company in dishwashers in 2013 was BSHP Electrodomesticos. It offers three brands of dishwashers: Bosch, Siemens and Balay (14%, 10% and 5% volume shares respectively in 2013). Electrolux held a volume share of 17%, which was a percentage point lower when compared with 2012.
Built-in dishwashers is expected to register stronger volume growth than freestanding dishwashers during the forecast period, increasing by a volume CAGR of 6% over the forecast period, whilst freestanding dishwashers is expected to increase by a CAGR of only 1% over the same time-frame. The rising popularity of built-in major appliances in Portugal is expected to subsist for a very long time, and can be expected to strengthen during the forecast period. The rising demand for built-in dishwashers in Portugal is also set to be highly dependent on the recovery of the Portuguese housing market. How many new dwellings will be built in Portugal during the forecast period remains to be seen, whilst the popularity of home renovation is unlikely to experience any significant increase as long as the Portuguese housing market remains in the doldrums. The construction of new residential developments ceased in Portugal during the recent economic crisis, and any continuation of this situation is likely to present a serious challenge to dishwashers in Portugal during the forecast period.
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The Dishwashers in Portugal market research report includes:
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