What Has Been Household Appliances Market in Recent Years?
The household appliances market has seen considerable growth due to a variety of factors.
• In recent times, the household appliances market has experienced substantial growth. The market size, which stood at $671.66 billion in 2024, is projected to rise to $729.08 billion in 2025, representing a compound annual growth rate (CAGR) of 8.5%.
Several factors have contributed to this historic growth, including increased home renovations, expansion in the housing market, home electrification, changing lifestyles, increased awareness of energy efficiency, and demographic shifts.
What is the Forecasted Market Size and CAGR for the Household Appliances Market?
The household appliances market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for household appliances is anticipated to experience significant expansion in the upcoming years, reaching a value of $971.15 billion in 2029, exhibiting a compounded annual growth rate (CAGR) of 7.4%.
The projected growth during this period can be credited to factors such as increasing smart home integrations, a burgeoning middle-class demographic, the incorporation of health and wellness features, necessities of an aging populace, and integration of energy storage. Key trends expected to shape the market in the forecast period encompass sustainable design, the Internet of Things (IoT), voice and AI integration, compact and multi-purpose devices, avant-garde cooking technology, as well as customization and personalization.
Which Drivers Are Accelerating Growth In The Household Appliances Market?
The anticipated surge in outdoor gatherings and barbecues during weekends and holidays is likely to propel the household appliances market growth in the coming times. The constantly changing lifestyle and a rise in outdoor leisure activities could fuel the requirement for home appliances. It is projected that the market for household appliances in Europe could elevate to $5.98 million by 2026. Enhanced accessibility to exceptional camping sites, an upsurge in adventure camping, teamed with increasing disposable income are expected to stir the global household appliances market, henceforth, bolstering the forecast period's market for household appliances.
What are the Market Segments in the Household Appliances Market?
The household appliances market covered in this report is segmented –
1) By Type: Small Electrical Appliance, Household Cooking Appliance, Household Refrigerator And Home Freezer, Household Laundry Equipment, Other Major Household Appliance
2) By Mode: Online, Offline
3) By Application: Cooking, Cleaning, Other Applications
Subsegments:
1) By Small Electrical Appliance: Toasters, Blenders, Coffee Makers, Electric Kettles, Vacuum Cleaners
2) By Household Cooking Appliance: Ovens (Conventional, Microwave, Convection), Stoves (Gas, Electric), Cooktops, Slow Cookers, Rice Cookers
3) By Household Refrigerator And Home Freezer: Top-Freezer Refrigerators, Bottom-Freezer Refrigerators, Side-by-Side Refrigerators, Chest Freezers, Upright Freezers
4) By Household Laundry Equipment: Washing Machines (Front Load, Top Load), Dryers (Electric, Gas), Washer-Dryer Combos
5) By Other Major Household Appliance: Dishwashers, Air Conditioners, Water Heaters, Dehumidifiers, Humidifiers
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What Trends are Shaping the Household Appliances Market Size?
Manufacturers of household devices are integrating LED lights into their products to reduce energy use. LED lights have a lower wattage requirement than CFL or incandescent light bulbs. These manufacturers are focusing on developing products with LED lighting for enhanced visual appeal and decreased energy use. For instance, GE's LED lighting system for refrigerators reduces energy use by 80% compared to halogen lamps. They have launched products like the cafe's French door refrigerators and profile wall ovens, equipped with this lighting. Notably, major companies such as Philip Electronics N.V., Osram Opto, Digital Lumens Inc., and Cree Corporation are some of the big players in the LED lighting production industry.
Who Are the Key Players in the Household Appliances Market?
Major companies operating in the household appliances market include:
• Samsung Electronics Co. Ltd.
• Hitachi Appliances
• LG Electronics
• Panasonic Appliances
• Qingdao Haier Co. Ltd.
• Daikin Industries Ltd
• Haier Smart Home Co. Ltd.
• Gree Electric Appliances
• Toshiba Corporation
• Whirlpool Corporation
• Sharp Corporation
• Bosch-Siemens
• Electrolux AB
• Liebherr Group
• Wolf Appliance
• Candy Group
• Hisense Group
• Groupe SEB SA
• Arçelik Global
• Miele
• Maytag Corporation
• Vestel International
• Fisher & Paykel
• Indesit Company
• Blue Star Limited
• Thermador
• Sub-Zero Group
• DCS Appliances
• Smeg
• Viking Range
• AGA Rangemaster
• Gaggenau
• Bertazzoni S.p.A.
• Dacor Inc.
• American Range
• Asko Appliances
• La Cornue
• Hestan Commercial Corporation
• Lynx Grills
• ILVE Spa
What are the Regional Insights into the Household Appliances Market?
Asia-Pacific was the largest region in the household appliances market in 2024. Western Europe was the second largest region in the household appliances market. The regions covered in the household appliances market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
