What Has Been the Growth Trajectory for the White Goods Market in Recent Years?
The white goods market has seen considerable growth due to a variety of factors.
• The dimensions of the white goods industry have significantly expanded in recent times. It's projected to escalate from a value of $703.69 billion in 2024 to hit a staggering $757.72 billion in 2025, boasting a compound annual growth rate (CAGR) of 7.7%.
The surge during the historical span was fueled by enhanced urbanization, income increment, evolving lifestyles, product replacement cycles, and energy management.
How Does the Forecast Look for the White Goods Market?
The white goods market is expected to maintain its strong growth trajectory in upcoming years.
• The size of the white goods market is anticipated to experience substantial expansion in the forthcoming years, with projections estimating it to reach $1049.45 billion in 2029, boasting a compound annual growth rate (CAGR) of 8.5%.
The projected growth during this estimated period can be associated with the rise in smart home integration, the surge in e-commerce and online shopping, the focus on sustainability and eco-friendliness, and health and hygiene features, plus remote diagnostics and maintenance. The dominant trends for the projected period encompass smart and connected appliances, online retail and e-commerce, digital interfaces and touchscreen controls, remote diagnostics and maintenance, the circular economy, and recycling.
What Are The Leading Drivers Of Growth In The White Goods Market?
The growth of the white goods market is anticipated to be fuelled by the rising consumer uptake of smart home appliances aimed at reducing workloads. These appliances are electronic devices linked to a centralised system which allow remote control or autonomous functioning based on sensor inputs such as light levels, temperature, or activity. They are typically designed to integrate with other smart devices as part of a comprehensive smart home system. With the rising adoption of these smart home appliances, there's an expected considerable boost in demand for white goods. For example, a smart home study published in the Digitized House in May 2022 indicates that approximately 70% of consumers in the US own at least one smart appliance product, with robust sales of these appliances. Moreover, a majority of consumers plan to add more such devices in the future. Therefore, the surge in consumer adoption of smart home appliances will likely propel the white goods market forward.
How Are The Segments Defined Within The Global White Goods Market?
The white goods market covered in this report is segmented –
1) By Type: Cleaning Equipment, Preservation And Cooking Equipment, Heating And Cooling Equipment, Other Types
2) By Application: Offline Sales, Online Sales
3) By Distribution Channel: Super market And Hyper market, Specialty Store, Retail Store, E-commerce, Other Distribution Channels
4) By End User: Private Sector, Domestic, Corporate, Public Sector, Government, Hospitals
Subsegments:
1) By Cleaning Equipment: Washing Machines, Dishwashers, Vacuum Cleaners
2) By Preservation And Cooking Equipment: Refrigerators, Freezers, Ovens, Microwaves
3) By Heating And Cooling Equipment: Air Conditioners, Heaters, Dehumidifiers
4) By Other Types: Water Heaters, Food Processors, Other Kitchen Appliances
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How Are New Trends Expected To Influence The Growth Of The White Goods Market?
Leading firms in the white goods industry are introducing inventive products like vacuum cleaners and self-cleaning robot cleaners to simplify and enhance the effectiveness of domestic cleaning, particularly for those with tight schedules. For instance, in August 2022, Dreame, Ltd, a company from China known for its innovative and superior-quality products, debuted two novel cleaning tools for the home – the Dreame H12 Wet and Dry Vacuum Cleaner, and the Dreame Bot W10 Pro Self-Cleaning Robot Vacuum and Mop. These products are targeted at streamlining house cleaning chores and saving time. Dreame's most advanced technologies are incorporated into these vacuum cleaners, optimizing their cleaning powers and widening their reach. The Dreame H12 Wet & Dry Vacuum Cleaner is capable of both vacuuming and mopping in one stroke, making it perfect for spaces like kitchens and dining areas. The self-cleaning robot cleaner boasts a 4000Pa suction power and comes with a 19.2cm ultra-wide brush for efficient dirt and debris pick-up, equipped with smart self-cleaning features.
Who Are the Key Players in the White Goods Market?
Major companies operating in the white goods market include:
• Blue Star Limited
• Haier Group Corporation
• LG Electronics Inc.
• Samsung Electronics Co. Ltd.
• Amica Wronki Spólka Akcyjna
• Arçelik A.S.
• Robert Bosch GmbH
• Candy Hoover Group S.r.l.
• Dacor Inc.
• Daewoo Electronics Corporation
• AB Electrolux
• Fisher & Paykel Appliances Holdings Limited
• BSH Hausgeräte GmbH
• General Electric Company
• Groupe SEB
• Hisense Group Co. Ltd.
• Hitachi Ltd.
• Whirlpool Corporation
• Liebherr-International AG
• Miele & Cie. KG
• Panasonic Corporation
• Sharp Corporation
• Siemens AG
• Smeg S.p.A.
• Sub-Zero Group Inc.
• Toshiba Corporation
• Vestel Elektronik Sanayi ve Ticaret A.S.
• Vestfrost Solutions A/S
What Is The Most Dominant Region In The White Goods Market?
North America was the largest region in the white goods market in 2024. Asia-Pacific is expected to be the fastest-growing region in the white goods market report during the forecast period. The regions covered in the white goods market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
