European Steel Association EUROFER in latest Economic & Steel Market Outlook said that “In the fourth quarter of 2021 output in the electrical domestic appliances sector dropped by 2.8% for the second time in a row. However, despite the drop experienced over the last two quarters, the sector still records high output volumes in historical terms. On an annual basis, after 2020 moderate fall of 2.1% compared to other EU steel-using sectors, output rebounded by 6.7% in 2021, thanks to very positive performances recorded over the first half of the year.”EUROFER said “Growth is expected to record negative growth over the first half of 2022 as a result of the already mentioned supply chain disruptions and effects of the war in Ukraine. On the other hand, some supportive factors will provide positive contribution to growth: working from home will remain widespread in the EU over the next two years, albeit to a lower extent than during the COVID-19 pandemic. In the longer term, developments linked to Internet of Things ie smart applications that enable to connect home appliances, devices, etc should also benefit the sector, but the impact of these applications is not likely to be visible before 2023. Output in domestic appliances is set to drop in 2022 by 3.3% and to marginally recover by 2% in 2023.”
European Steel Association EUROFER in latest Economic & Steel Market Outlook said that “In the fourth quarter of 2021 output in the electrical domestic appliances sector dropped by 2.8% for the second time in a row. However, despite the drop experienced over the last two quarters, the sector still records high output volumes in historical terms. On an annual basis, after 2020 moderate fall of 2.1% compared to other EU steel-using sectors, output rebounded by 6.7% in 2021, thanks to very positive performances recorded over the first half of the year.”EUROFER said “Growth is expected to record negative growth over the first half of 2022 as a result of the already mentioned supply chain disruptions and effects of the war in Ukraine. On the other hand, some supportive factors will provide positive contribution to growth: working from home will remain widespread in the EU over the next two years, albeit to a lower extent than during the COVID-19 pandemic. In the longer term, developments linked to Internet of Things ie smart applications that enable to connect home appliances, devices, etc should also benefit the sector, but the impact of these applications is not likely to be visible before 2023. Output in domestic appliances is set to drop in 2022 by 3.3% and to marginally recover by 2% in 2023.”
