In 2024, the market volume of the electric household appliance industry amounted to around **** trillion yuan. The industry's income decreased slightly as a result of the COVID-19 outbreak.

Household Electric Appliances Market Outlook

The global household electric appliances market size was estimated at USD 350 billion in 2023, and it is projected to reach USD 570 billion by 2032, growing at a CAGR of 6.5% during the forecast period. Factors contributing to this robust growth include rapid urbanization, rising disposable incomes, and technological advancements in appliance features. This growth is propelled by an increasing demand for energy-efficient appliances and smart home integration, which are becoming staples in modern households.

One of the primary growth drivers of the household electric appliances market is the significant rise in urbanization. As more people migrate to urban areas, the demand for modern conveniences and time-saving devices escalates. Urban dwellings often necessitate a range of household electric appliances, from refrigerators and washing machines to air conditioners and microwaves. Furthermore, the trend towards smaller living spaces in urban settings increases the demand for compact and multifunctional appliances, further boosting market growth. Additionally, the growing trend of nuclear families and single-person households also propels the demand for various household electric appliances to manage daily chores efficiently.

Technological innovation is another crucial factor driving the growth of the household electric appliances market. The advent of smart appliances that can be controlled via smartphones or voice commands has revolutionized consumer preferences. Innovations such as energy-efficient models, water-saving washing machines, and advanced air purification systems in air conditioners are attracting consumers who are keen on sustainability and convenience. The integration of IoT (Internet of Things) technology in household appliances allows for seamless connectivity and smart home ecosystems, enhancing user experience and driving market growth.

Economic factors like rising disposable incomes also play a significant role in the expansion of the household electric appliances market. As economies grow, particularly in emerging markets, disposable incomes rise, enabling consumers to spend more on home appliances. Additionally, the availability of easy financing options and attractive installment schemes has made it easier for consumers to purchase high-end household appliances. This economic prosperity is coupled with a growing awareness of the benefits of modern appliances, further stimulating market demand.

The rise of Smart Appliances in the Home is a testament to the ongoing technological revolution within the household electric appliances market. These appliances, which include smart refrigerators, ovens, and washing machines, are designed to enhance convenience and efficiency in daily household tasks. They are equipped with advanced features such as remote control via smartphone apps, voice command capabilities, and even self-diagnosing functions that alert users to potential issues. As consumers become more accustomed to technology-driven solutions, the demand for smart appliances is expected to grow, further driving market expansion. This shift towards smarter homes is not only about convenience but also about creating a more connected and efficient living environment.

Regionally, the Asia Pacific is witnessing the fastest growth in the household electric appliances market, driven by large populations, rapid urbanization, and increasing disposable incomes in countries like China and India. North America and Europe also show strong market presence due to high consumer awareness and advanced technological infrastructure. Latin America and the Middle East & Africa are emerging markets with significant potential, driven by growing urbanization and an increasing middle class.

Product Type Analysis

The product type segment within the household electric appliances market is diverse and includes refrigerators, washing machines, air conditioners, microwaves, vacuum cleaners, and others. Each of these product types meets specific consumer needs and plays a crucial role in daily household activities. Refrigerators, for instance, are indispensable in preserving food and preventing spoilage, making them a staple in most homes. Innovations like smart fridges with touchscreens and internet connectivity are gaining popularity, appealing to tech-savvy consumers looking for added convenience and efficiency.

Washing machines are another essential

The Report Covers the UK Major Home Appliances Companies and the market is segmented by Product (Refrigerators, Washing Machines, Freezers, Dryers, Ovens, Hoods, Ranges, and Others) and By Distribution Channels (Supermarkets and Hypermarkets, Specialty Stores, E-Commerce, and Others).

Home Appliance Market report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2018 to 2034

The shipment value of household appliances in Japan was estimated at **** trillion Japanese yen in the fiscal year 2021. Values decreased compared to the previous year, which was marked by increased consumption as people had to stay home due to the spread of the novel coronavirus (COVID-19). Among other things, people used their time to exchange existing home appliances for new ones. As this heightened demand was not sustained in the 2021 fiscal year, the market shrank by *** percent.

The household appliances market

The household appliances market includes various types of appliances used inside the home, such as refrigerators, washing machines, and air conditioners. Historically, household appliances played an important role as symbols of a new middle-class lifestyle that people aspired to at the beginning of Japan’s rapid economic growth phase, which lasted from the mid-***** to the early *****. Today, possession of a wide variety of home appliances is very common among Japanese households. There are a number of electronic goods retailers that dominate the market, such as Yamada Holdings, Bic Camera, and K's Denki. The retail sales value of electric household appliances sold at large-scale specialty retailers showed a steady increase in the latter half of the *****. A breakdown of the sales value of consumer electric appliances shows that electric refrigerators constitute the largest category in the Japanese market, ahead of products such as electric washing machines and ventilating fans.

Effects of foreign competition

Japanese home appliance manufacturers, which are known for producing technologically advanced consumer goods, have come under pressure due to foreign competition in the recent years. Next to lowered prices, this competition has resulted in Japanese companies selling parts of their businesses to foreign competitors, particularly manufacturers from China. In 2012, Panasonic sold Sanyo Electric’s white goods business to the Chinese appliance manufacturer Haier. Sharp was acquired by Foxconn in 2016, the same year that Fujitsu sold its PC business to Lenovo. Toshiba sold its home appliance business to Midea in 2016 and its TV business to Hisense in 2018. One strategy of Japanese manufacturers who opt to continue competing in the market is to focus on developing new technology, such as appliances equipped with Internet of Things (IoT) functions, which turn households increasingly into smart homes. Smart appliances are the largest segment of the smart home market in Japan and constitute a growing business field.

Home Appliances Market was valued at USD 178.63 Billion in 2023 and is projected to reach USD 225.76 Billion by 2031, growing at a CAGR of 2.97% from 2024 to 2031.

Home Appliances Market: Definition/ Overview

Home appliances are electrical or mechanical devices designed to assist in household tasks, enhancing convenience and efficiency in daily life. Common applications include cooking (ovens, microwaves), cleaning (washing machines, vacuum cleaners), and climate control (air conditioners, heaters), significantly improving the quality of living by saving time and effort. As consumer preferences shift towards smart and energy-efficient solutions, the future of home appliances is set to focus on advanced technologies such as Internet of Things (IoT) connectivity, automation, and sustainability.

Global Household Appliances market size is expected to reach $971.15 billion by 2029 at 7.4%, segmented as by type, small electrical appliance, household cooking appliance, household refrigerator and home freezer, household laundry equipment

Report of Household Electric Appliances Market is covering the summarized study of several factors encouraging the growth of the market such as market size, market type, major regions and end user applications. By using the report customer can recognize the several drivers that impact and govern the market. The report is describing the several types of Household Electric Appliances Industry. Factors that are playing the major role for growth of specific type of product category and factors that are motivating the status of the market.

Global Home Appliances Market was valued at USD 490.04 Billion in 2023 and is expected to grow to USD 697.34 Billion by 2029 with a CAGR of 6.22% during the forecast period.

The Small Home Appliances Market Report Segments the Industry Into by Product (Coffee Makers, Food Processors, Grills and Roasters, Electric Kettles, and More), by Distribution Channel (Multi-Brand Stores, Exclusive Brand Outlets, Online, and Other Distribution Channels), and by Geography (North America, South America, Europe, Asia-Pacific, and More). The Market Forecasts are Provided in Terms of Value (USD).

The sale of global household appliances has been growing steadily from 2005 to 2014. In 2015 onwards there was a slowing and in some cases a decrease, in the sales of major domestic appliances around the world. The Coronavirus pandemic, forcing people to stay at home, is likely to be the cause of further interest in outfitting homes as there has been a steady growth since 2019 in sales, culminating in a record sale in 2021

Major appliance sales

Electrical or mechanical devices used in a household are part of the home appliance industry, a billion-dollar industry with growth projections for the coming years. Global consumption of household appliances have reached *** billion U.S. dollars in mid 2021, nearly tripling the value of the market at barely *** million in 2005. Haier Electronics Group, Bosch, Electrolux, LG Electronics, General Electric and Whirlpool Corporation are the leading companies in the industry.

Within this industry, major domestic appliances, which include large machines used at home, is one of the main segments. Sales of major domestic appliances have been fairly consistent since 2013, with its revenue varying between *** and *** billion U.S. dollars. Global sales of washing machines, tumble dryers, dishwashers, refrigerators, freezers, cookers/ovens, hobs, hoods, and microwave ovens are all included in this figure. On the other hand, the global market for semiconductors, a very basic component of a major home appliance, is forecast to grow in the next few years. Revenue of semiconductors market worldwide has increased from *** billion U.S. dollars in 2012 to *** billion U.S. dollars in 2021.

The size of the UK Household Electric Appliances Industry market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 4% during the forecast period. The UK household electric appliances market encompasses a broad range of electrically powered devices designed for use in domestic settings, aimed at enhancing convenience, efficiency, and quality of life. This sector includes essential appliances such as refrigerators, washing machines, dryers, ovens, and dishwashers, which are integral to daily household operations. It also features smaller appliances like toasters, kettles, microwave ovens, and coffee makers, which cater to specific culinary and convenience needs. The market is characterized by technological innovation, with advancements focusing on energy efficiency, smart functionality, and user convenience. Modern household appliances often integrate Internet of Things (IoT) technology, enabling remote control and monitoring through smartphones and other devices. This trend towards smart appliances is driven by consumer demand for improved energy management, enhanced safety features, and personalized user experiences. Consumer preferences in the UK market are influenced by factors such as design aesthetics, functionality, and brand reputation. The rise of e-commerce has further transformed the market, offering consumers a wider range of products and competitive pricing. Additionally, the impact of Brexit and evolving trade policies may influence supply chains and market dynamics in the coming years. Overall, the UK household electric appliances market is dynamic, with ongoing developments driven by technological advancements, sustainability trends, and changing consumer expectations. Key drivers for this market are: The Growth in the Hospitality Sector is Shifting to Commercial Smart Kitchen Appliances, Surge in Urban Population and Rise in Expenditure on Home Renovations Driving Market Growth. Potential restraints include: Concerns About Data Privacy Among End Users Can Impedes Market Growth, High Cost of Maintenance and Upkeep. Notable trends are: Increase in Consumer Spending on Major Home Appliances.

According to Cognitive Market Research, the global Home Appliances market size will be USD 709845.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 283938.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 212953.56 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 163264.40 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 35492.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 14196.90 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031.
The smart home appliances category is the fastest-growing segment of the Home Appliances industry

Market Dynamics of Home Appliances Market

Key Drivers for Home Appliances Market

Increasing Disposable Income and Urbanization: The rise in disposable incomes, along with urban migration and the emergence of nuclear families, is driving the demand for contemporary home appliances. Consumers are prioritizing convenience-oriented products that minimize manual labor and enhance the quality of life, particularly in urban and semi-urban areas.

Smart Home Integration and Automation: The incorporation of IoT and AI technologies in home appliances facilitates remote management, energy efficiency, and automation. Smart refrigerators, washing machines, and ovens are being increasingly embraced for their effectiveness and compatibility with interconnected systems, thereby improving user convenience and control.

Energy-Efficient Product Demand: Concerns regarding the environment and escalating energy prices are fueling the demand for energy-efficient appliances. Government regulations and eco-labeling initiatives are compelling manufacturers to innovate with low-energy, high-performance products, thereby influencing consumer preferences towards sustainability.

Restraint Factor for the Home Appliances Market

High Cost of Smart Appliances: Despite their advantages, smart and energy-efficient appliances frequently come with higher price tags, rendering them less attainable for middle- and lower-income demographics. This pricing disparity hinders widespread adoption, particularly in developing nations.

Product Replacement Cycle: Home appliances generally possess extended life spans, which slows down the frequency of repeat purchases. Consumers tend to postpone the replacement of functional units unless they malfunction, presenting a challenge for sustained market growth, especially for durable goods such as refrigerators and washing machines.

Logistical and After-Sales Challenges: The distribution, delivery, and service infrastructure in rural or remote regions remains insufficient. Issues related to after-sales service and product returns can adversely impact customer satisfaction and brand image, thereby limiting broader market penetration.

Key Trends of the Home Appliances Market

Surge in demand for multifunctional and space-efficient designs: As urban living areas shrink, consumers are increasingly inclined towards compact, modular, and multipurpose appliances such as washer-dryer combinations or countertop dishwashers. Innovation focused on design is essential in urban markets.

Rising impact of e-commerce and direct-to-consumer brands: Online shopping platforms have enhanced the accessibility of appliance purchases. Brands such as Xiaomi, LG, and Samsung are utilizing D2C websites, social commerce, and digital marketing strategies to connect with tech-savvy, value-oriented consumers.

Sustainability and the circular economy influencing product development: Consumers are progressively looking for appliances that possess eco-certifications, exhibit low energy usage, and are recyclable. In response, companies are implementing take-back initiatives, offering extended warranties, and creating repair-friendly designs...

Stores in this industry sell household electrical appliances classified as white goods. Products include washing machines, tumble dryers, refrigerators, freezers and electric cookers. Small domestic appliances such as microwaves, vacuum cleaners, kettles, toasters and irons are also included. Stores that specialise in selling audiovisual, computing and photographic equipment are not covered. Online-only stores with no physical outlets are also excluded.

The global home appliances market size was worth more than USD 739.48 billion in 2024 and is poised to witness a CAGR of more than 6.1%, crossing USD 1.6 trillion revenue by 2037. Cooktop segment is expected to attain 31% share by 2037, driven by increasing demand for kitchen appliances for time-saving, clean cooking, and improving living standards globally.

Global retail sales of home and household appliances are forecast to grow to almost *** billion U.S. dollars in 2021 and surpass the *** billion dollar mark in the upcoming years. Refrigeration appliances sales take up the most significant share of the market, with retail sales of more than ** billion U.S. dollars in 2020. Major and small appliances as main categories The home and household appliances market is split into two main categories: major appliances and small appliances. Major appliances are large machines used at home, including refrigerators, dishwashers, washing machines, tumble dryers, and air-conditioners. The small appliances category includes products used at home, such as food processors, toasters, coffee makers, and more. Leading household manufacturers Major household appliances such as refrigeration appliances, large kitchen appliances, laundry appliances, and air-conditioners make up a significant portion of retail sales worldwide when combined, compared to that of all small home appliances. Therefore, appliance manufacturers such as Whirlpool, Midea, Haier, LG, BSH Home Appliances, and Electrolux, which all generate a sizable share of their revenue from major appliances, are amongst the leading appliances manufacturers worldwide. One notable exception is the French company Groupe SEB, which produces and sells mostly small appliances.

The statistic shows the global consumption value of household appliances from 2013 to 2020. In 2013, the worldwide consumption of household appliances amounted to 428.17 billion U.S. dollars.

The size of the Electric Motors Household Appliances Market was valued at USD 12.07 Billion in 2024 and is projected to reach USD 16.54 Billion by 2033, with an expected CAGR of 4.60% during the forecast period. The Electric Motors Household Appliances Market is the development and integration of electric motors in household appliances like the washing machine, refrigerator, vacuum cleaner, air conditioner, and kitchen equipment. These motors are therefore crucial elements with efficient power conversion to energize appliances. The most salient features of these household electric motors are small size, energy efficiency, reliability, and low noise operation. These motors are being used widely in advanced technologies like BLDC and PMSM. Such motors consume more energy, as they last for a long period compared to other motors. Some of the functions that modern electric motors serve are cooling, heating, cleaning, and automation within the home. Factors driving this market are an increasing consumer desire for energy-efficient products, regulatory constraints on energy use, and continuous advancements in motor technology. Further, increased disposable incomes globally alongside rising urbanizations boost market growth. The embedding of smart technologies is also through inclusion of IoT-enabling motors thereby enhancing performance coupled with remote controlling, making easy and energy-effective. Another more significant driver, in this aspect, includes international focus on sustainability that promotes ecological-friendly and power-efficient motors quickly. Overall, the market is set for strong growth based on technology and penetration of household appliances, with an increasing number of consumers looking at smart and energy-efficient solutions. Recent developments include: The A60 and A60 Pro were launched by FLEXSOLAR on Kickstarter in March 2023. They were specifically designed to offer dependable, portable solar power when on the move and are very light and small. This makes them an ideal choice for camping enthusiasts, holidaymakers or anyone who needs a source of energy that can be taken along. The A60 and A60 Pro have been made with durability in mind, so they are waterproof as well. They have an IP67 waterproof rating assuring their functionality even if there is unexpected rain or incidentally coming into contact with water., The Japanese electric power tools manufacturer Ryobi introduced a solar panel that is foldable with 60 watts of output in October 2023. An ultra-lightweight mobile device, it also has USB-A, USB-C, and barrel cord compatibility for flexible charging possibilities. Additionally, when used alongside a power bank, it can recharge smartphones, tablets, and power banks themselves, as well as speakers and Ryobi batteries. Charging a Ryobi 18 V One+ 2 Ah battery would take less than one hour while using the panel could let you charge your phone within approximately one hour and fifteen minutes at most. Designed to last long and fit various installation sites easily, the solar panel includes four secure eyelets at its corners as well as a kickstand., Bluetti revealed its new SP350 module, which is a portable solar panel generating up to 350W during April of 2022; this component consists of cells that are 23% efficient. When open, it measures about 2400 mm (7.87 ft) x 905 mm but otherwise folds down into about 905 mm x 613 mm (2’01” in) x65mm (2’56”)., In April 2022, EzUrja was backed by C4V from the United States. It supplies lithium-ion cells for EzUrja chargers. These lithium-ion cells are produced by a 1.8 GWh plant in New York., In May 2019, Voltaic Systems launched the solar laptop charging kit with a utility storage solution, among other features. This was expected to help them use their products as competitive tools., In February 2019, SunTactics introduced Charger-Lite, which is a new solar charger that aimed at increasing the number of consumers due to its lower weight and portability., October 2023: Japanese manufacturer of electric power tools Ryobi introduced a foldable solar panel with a power output of 60 watts. For versatile charging, the lightweight mobile device is USB-A, USB-C, and barrel cord compatible. When combined with a power bank, the device is capable of charging smartphones, tablets, power banks, speakers, and Ryobi batteries. A Ryobi 18 V One+ 2 Ah battery can be charged in less than an hour, while a phone can be charged in approximately 1 hour and 15 minutes using the panel. Designed for long-lasting performance and adaptable installation, the solar panel features a kickstand and four secure eyelets at the corners. The 60 W solar panel from Ryobi is backed by a three-year manufacturer's warranty., December 2023: Acer announced that it would be expanding its business and product portfolio in Europe, the Middle East, and Africa by introducing a variety of new solar-powered energy storage solutions that are environmentally sustainable. As a result of the growing demand for sustainable energy, mobile power stations are gaining in popularity. These mobile solar-powered systems provide supplementary power generation while on the move, reserve power in regions prone to storms, and sufficient stored energy to supply a household with electricity for a duration of 24 hours during a blackout.. Key drivers for this market are: DEMAND FOR HVAC IN RESIDENTIAL SECTOR 36, INCREASING AFFORDABILITY OF HOUSEHOLD APPLIANCES 36. Notable trends are: Growing demand for home appliances is driving the market growth.

Global Small Electrical Appliance market size is expected to reach $274.13 billion by 2029 at 9.3%, rural electrification and rising incomes drive growth in the small electrical appliances market