Are you interested in a career in consumer durables and want to know what companies are in the consumer durables field? This will help you understand the consumer durables field you’re potentially walking into.
Consumer durables is one of the most competitive fields where companies constantly innovate and develop new products. Automotive companies are some of the biggest consumer durables companies outperforming some other consumer durables. Some of these companies include electronic manufacturing companies and fashion companies. Home appliances companies also fall in the consumer durables field.
Over the last decade, the consumer durables sector has grown significantly. But like most fields, consumer durables were greatly affected by the pandemic. Early in the crisis, companies had to slow down products due to new regulations. However, increased consumer demand and emerging trends have helped boost the field and launched new companies.
This article will highlight what companies are in the consumer durables sector. Plus, we’ll briefly describe what the consumer durables field is.
What is the Consumer Durables Field?
The consumer durables field involves companies that manufacture everyday items such as phones and laptops. They manufacture household appliances like refrigerators, washing machines, and furniture. A few specialize in creating things like cars, trucks, and machinery.
In general, the consumer durables field has more to do with selling products you use daily in your home. This is why it is one of the fastest-growing markets, with a growth projection of $2 trillion in 2024.
In a nutshell, the consumer durables sector includes companies that make goods that last longer than four to five years and do not require constant replacement.
To stay ahead of the competition, these companies are constantly evolving. Over the last decade, these companies have integrated innovative technology to speed up production. Making the consumer durables field one of the fastest-growing fields in the market.
What Companies Are in the Consumer Durables Field?
Unlike in other sectors, companies in this field are strictly divided. They offer a wide range of services with some companies overlapping, such as electronic and automotive companies.
The list below reflects examples of some of the biggest companies in the field today. All of which have prominent performers during the pandemic capitalizing on the stay-at-home and increased spending on durable items. Here are some examples of what companies are in the consumer durables sector.
1. Electronic Companies
Electronics companies describe companies that manufacture electronic products used by consumers. These include laptops, circuit boards, televisions, and more. This is a particularly disruptive category known for its disruptive innovation. Other notable products include new smart electronic devices for your home linked to your mobile phone.
These companies greatly benefited from the pandemic, with consumers purchasing more electronics to keep them entertained while staying home and working from home.
Example of Electronic Companies
Key electronic companies include PCB manufacturing companies specializing in electronic design aspects. They typically have automatic assembly lines to speed up the electron manufacturing process.
The most common electronic companies include electronic manufacturing companies. These companies oversee the entire electronic production process, from the idea to the finished product. Some companies are also responsible for the packaging and shipping of the final product. Electronic manufacturing companies provide additional services such as product testing and fabrication.
2. Automotive Companies
One of the primary drivers of the consumer durables field is the automotive companies. Automotive companies comprise a range of companies that design, develop, market, manufacture, and sell automotive vehicles. But it does not include automotive companies that fix and maintain vehicles such as car repair companies.
In addition, automotive companies do not include dealerships specializing in selling vehicles. Those fall under the umbrella of consumer service companies.
Example of Automotive Companies
Automotive companies include original equipment manufacturers subdivided into electronic, hybrid, and traditional vehicle manufacturing companies. They manufacture light and heavy trucks such as cars, motorcycles, and trucks. These original equipment manufacturer companies also specialize in making products such as tires, belts, and seals.
Other companies include car parts that supply critical components to other automotive companies. They manufacture and supply products such as motors, charges, and even specific batteries. These companies have evolved and transformed the automotive consumer durables sector over the years.
3. Home Appliances Companies
Some home appliances companies often cater to a niche market. These companies manufacture anything from tiles to carpets and even provide floor lamination services.
It is worth noting that home appliance companies often overlap with electronic companies because some also manufacture electronic appliances.
Example of Home Appliances Companies
Example of home appliance companies includes electric home appliance manufacturers that specialize in producing niche-based items. For instance, washing machines, dishwashers, and refrigerators. Some home appliance companies also deal with distribution, ensuring the products are delivered safely.
In addition, a large conglomerate manufactures home appliances from spoons to dishwashers and more. These companies typically also own retail companies and reputable home appliance brands. They are not niche-based. Instead, they focus on a broader consumer base.
What companies are in the consumer durables field is a frequently asked question. The consumer durables sector is characterized by companies with the adoption of advanced technology for the production of consumer goods. These sophisticated technologies have made these companies more efficient in the last few years. As the field expands, these companies are constantly evolving and improving the quality of consumer goods.
If trends hold, we can expect these companies to be some of the top companies in the market likely. We believe that the winning consumer durables companies are those within the electronic and automotive categories outperforming various companies and industries.
When looking for consumer durables companies, consider the companies we highlighted. Now that you know what companies are in the consumer durables sector, you’ll better understand how this field operates.