Appliance Industry Rebounds in 2010: ApplianceMagazine.com
Sep 27, 2010
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Unit shipment statistics from October 2009 through June 2010 indicate that the appliance industry is on a steady path to recovery, according to ApplianceMagazine.com in the Market Research Report, U.S. Appliance Shipment Statistics, 4th Quarter 2009 – 2nd Quarter 2010 Edition.
After reaching an all-time high in unit shipments in 2005, the U.S. major appliance industry experienced more than three years of a downhill slide. An overall return to growth finally began in the fourth quarter of 2009 when residential Major Appliance and HVAC unit shipments improved. This was attributed in part to stimulated home sales and improved customer confidence. By January 2010, economic analysts and appliance industry experts considered the economy to have finally reached recovery.
Upon reaching the 2nd quarter of 2010, the appliance industry had experienced at least six months of unit shipment growth after three years of recession. Most of the U.S. State Energy Efficient Appliance Rebate Programs (SEEARP) were launched during this period. An estimated $1.3 billion in consumer spending was stimulated by these programs.
Consistent growth throughout the fourth quarter of 2009 and the first and second quarters of 2010 indicated that the U.S. appliance industry was clearly on a growth track with nearly all major appliance and HVAC categories on the upswing.
Moving into the third quarter of 2010, two industry stimulators would essentially be non-factors: SEEARP and the home buyer tax credit. Long-term industry recovery is thus more difficult to predict. Manufacturers are encouraging Congress to renew SEEARP in order to continue to spur the U.S. economy, promote American manufacturing, and reduce energy use and American dependence on foreign oil.
More information is available from the ApplianceMagazine.com Market Research Report, U.S. Appliance Shipment Statistics, 4th Quarter 2009 Edition, including statistical analysis for year-to-date (YTD), same time last year (STLY), and 5-year historical trend (STLY). Appliance segments covered include Major Appliances, Consumer Electronics, Commercial Appliances, and HVAC.
This Appliance Market Research Report is available at www.ApplianceMagazine.com/MarketResearch.
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