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Global Household Appliances Market – Industry Trends and Forecast to 2029

  • FMCG
  • Upcoming Report
  • Aug 2022
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global Household Appliances Market – Industry Trends and Forecast to 2029

Market Size in USD Billion

CAGR - % Diagram

Diagram Forecast Period 2021–2029
Diagram Market Size (Base Year) USD 501.50 Billion
Diagram Market Size (Forecast Year) USD 729.73 Billion
Diagram CAGR %

Global Household Appliances Market, By Product (Refrigerators & Freezers, Washers & Dryers, Dishwashers, Air Conditioners, Cooking Appliances), Distribution Channel (Supermarket & Hypermarket, Specialty Stores, E-Commerce, and Others) – Industry Trends and Forecast to 2029.

Household Appliances Market Analysis and Size

Value sales in the household appliances market will be driven by increased product line extension, and rising customer expenditure on household appliances. Household appliance manufacturers are constantly developing, innovating, and integrating IoT with household appliances. Companies are focusing on reducing energy consumption and promoting sustainability.

Data Bridge Market Research analyses that the household appliances market was valued at USD 501.5 billion in 2021 and is expected to reach the value of USD 729.73 billion by 2029, at a CAGR of 4.80% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.

Household Appliances Market Scope and Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2014 - 2019)

Quantitative Units

Revenue in USD billion, Volumes in Units, Pricing in USD

Segments Covered

Product (Refrigerators & Freezers, Washers & Dryers, Dishwashers, Air Conditioners, Cooking Appliances), Distribution Channel (Supermarket & Hypermarket, Specialty Stores, E-Commerce, and Others)

Countries Covered

U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America

Market Players Covered

Friedr. Dick GmbH & Co (Germany), GLOBAL APPLIANCES USA (U.S.), KAI USA LTD (U.S.), Kiya corp. (Japan), M.A.C. Knife (U.S.), Messermeister (Germany), Victorinox AG (Switzerland) Anker Innovation Technology Co., Ltd. (China), Samsung Electronics Co., Ltd (South Korea), Shenzhen Proscenic Technology Co. Ltd. (China), Neato Robotics, Inc. (U.S.), Cecotec Innovaciones S.L. (Spain), L.G. Electronics Inc (South Korea), Dyson Limited (U.K.), Panasonic Corporation (Japan), and Sharp Corporation (U.S.)

Opportunities

  • Rising population growth in emerging markets,
  • Rising domestic manufacturing and consumer income levels
  • Innovative marketing strategies

Market Definition

Home appliances are devices that are used to perform household chores, food preservation, cleaning, cooking, and other human comfort activities. Refrigerators, washing machines, air conditioners, microwave ovens, and vacuum cleaners are examples of household appliances. These appliances are sold through a variety of distribution channels, including multi-brand stores, specialty stores, online, and others.

Drivers

  • Growing need of aesthetic appliance due to influence of reality shows

Rising introduction of advanced products is a vital factor responsible for market growth, as is rising popularity of reality shows which have renewed the arena of household interiors especially the kitchen segment, and rising demand for food products due to increasing disposable income, among other factors driving the household appliances market. Furthermore, the growing number of retail channels will create new opportunities for the household appliances market during the forecast period.

  • The rapid advancements in products to provide convenience as well as are safe for environment

Furthermore, the introduction of novel shapes and sizes and new features for improved usability are expected to boost the market. The growing number of hotels and restaurants and government and association regulations governing cleanliness and hygiene are significant factors driving the household appliances market. Consumers' growing preference for e-commerce fuels the growth of the household appliances. The growing desire to improve the visual appearance of various food dishes is also expected to drive market demand in the coming years. In addition, the introduction of modular and energy-efficient household equipment, such as induction cooktops, speed cooking ovens, and warming drawers, is fuelling market growth.

Opportunity

Environmental concerns about rising pollution and global warming have prompted the development of energy-efficient appliances. Technological advancements in line with this trend may enable manufacturers to make significant gains over the forecast timeline. Furthermore, regulatory bodies are expected to consider such portfolio in the industry, potentially boosting the current growth rate. The increasing number of e-commerce retailers and next-generation device developments for increased consumer convenience, connectivity, and energy-saving features are likely to present a potential growth landscape. Ongoing rural electrification projects would also provide stable growth prospects for viable household appliance market penetration in the long run.

Restraints

High initial capital and maintenance costs are expected to have a negative impact on consumer interest in new device developments. Uneven economic development in rural China, India, and Africa is causing power outages. Furthermore, approximately 50% of the population in 38 of 49 Sub-Saharan African countries live without electricity, which will have a negative impact on the size of the household appliances market.

This household appliances market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the household appliances market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Household Appliances Market

COVID-19 has wreaked havoc on the global supply chains of major home appliance and consumer electronics companies. China is one of the largest consumers and producers of various home appliances and consumer electronics products, but it also serves a diverse range of countries by exporting a variety of input supplies that are primarily used to manufacture finished goods. Because of the shutdown in China, other consumer electronics manufacturers in the United States and Europe have been forced to temporarily halt production of finished goods. As a result, the supply and demand gap is widening.

Recent Development

  • Electrolux is expanding its household products in collaboration with Google by incorporating Google Assistant, which allows users to control household appliances using voice commands.
  • Furthermore, in 2019, B.S.H. Hausgeräte GmbH acquired nearly 65 percent of the global food platform Household Stories, transforming it into an integrated software, hardware, and service provider.
  • Samsung will launch Smart Induction in Built-in Cooktop with Wi-Fi in August 2021, which will help to cook meals faster while reducing energy and emissions.
  • Samsung and Deutsche Telekom completed the first 5G S.A. trial in the Czech Republic in January 2021. The two companies outperformed each other, with Samsung's MU-MIMO technology demonstrating three times the spectrum efficiency of LTE.
  • L.G. Electronics Inc. of South Korea and automotive supplier Magna International Inc. will form a joint venture to manufacture key components for electric vehicles in December 2020.

Household Appliances Market Scope

The household appliances market is segmented on the basis of product type and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Product Type

  • Refrigerator
  • Cooking Appliance
  • Dishwasher
  • Freezers
  • Washers & Dryers
  • Dishwashers
  • Air Conditioners
  • Cooking Appliances

Distribution channel

  • Supermarket & Hypermarket
  • Specialty Stores
  • E-Commerce
  • Others

Household Appliances Market Regional Analysis/Insights

The household appliances market is analysed and market size insights and trends are provided by country, product type and distribution channel as referenced above.

The countries covered in the household appliances market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.

North America's household appliance market is mature and homogeneous, with high product penetration. Product replacement drives demand for household appliances. The European market is expanding as a result of low interest rates and a favourable economic situation. Premium built-in or integrated appliances, such as ovens with integrated steam functions, flexible induction hobs, integrated hob extractors, and built-in dishwashers, are in high demand in the market.

Asia-Pacific household appliances market is expected to grow rapidly due to rising household income, rapid urbanisation, an increase in the middle-class population, easy access to goods via retail channel development, easy access to consumer finance, and a shift in population lifestyles.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Household appliances Market Share Analysis

The household appliances market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to household appliances market.

Some of the major players operating in the household appliances market are:

  • Friedr. Dick GmbH & Co (Germany)
  • GLOBAL APPLIANCES USA (U.S)
  • KAI USA LTD (U.S)
  • Kiya corp. (Japan)
  • M.A.C. Knife (U.S)
  • Messermeister (Germany)
  • Victorinox AG (Switzerland)
  • Anker Innovation Technology Co., Ltd. (China)
  • Samsung Electronics Co., Ltd (South Korea)
  • Shenzhen Proscenic Technology Co. Ltd. (China)
  • Neato Robotics, Inc. (U.S.)
  • Cecotec Innovaciones S.L. (Spain)
  • L.G. Electronics Inc (South Korea)
  • Dyson Limited (U.K.)
  • Panasonic Corporation (Japan)
  • Sharp Corporation (U.S.)


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

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FREQUENTLY ASK QUESTIONS

The Household Appliances Market will be worth USD 729.73 billion in the forecast period by 2029.
The Household Appliances Market growth rate is 4.80% during the forecast period.
The rapid advancements in products to provide convenience as well as are safe for environment & Growing need of aesthetic appliance due to influence of reality shows are the growth drivers of the Household Appliances Market.
The product type and distribution channel are the factors on which the Household Appliances Market research is based.
Major companies in the Household Appliances Market are Friedr. Dick GmbH & Co (Germany), GLOBAL APPLIANCES USA (U.S.), KAI USA LTD (U.S.), Kiya corp. (Japan), M.A.C. Knife (U.S.), Messermeister (Germany), Victorinox AG (Switzerland) Anker Innovation Technology Co., Ltd. (China), Samsung Electronics Co., Ltd (South Korea), Shenzhen Proscenic Technology Co. Ltd. (China), Neato Robotics, Inc. (U.S.), Cecotec Innovaciones S.L. (Spain), L.G. Electronics Inc (South Korea), Dyson Limited (U.K.), Panasonic Corporation (Japan), and Sharp Corporation (U.S.).
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