The Home Appliance Market Report is Segmented by Product (major Appliances (refrigerators, Freezers, Dishwashers, Ovens, Air Conditioners, and Other Major Appliances) and Small Appliances (coffee and Tea Makers, Food Processors, Grills and Roasters, Vacuum Cleaners, and Other Small Appliances)), Distribution Channel (multi-Branded Stores, Specialty Stores, Online, and Other Distribution Channels), and Geography (North America, South America, Europe, Asia-Pacific, and the Middle East and Africa). The Report Provides Market Size and Value Forecasts (in USD) for These Segments.

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

Smart and energy-efficient appliances driving consumer demand to Boost Market Growth

The integration of smart technology in appliances, allowing remote control, automation, and connectivity with other devices, is driving consumer interest. This convenience and ability to monitor energy usage in real time contribute to the growing adoption of smart and energy-efficient appliances. While smart and energy-efficient appliances promise long-term savings, the higher upfront costs than traditional appliances can deter price-sensitive consumers from switching. These factors play a significant role in shaping the market growth and consumer adoption of smart and energy-efficient appliances. For instance, Cupforma Natura Solo TM, a sustainable paperboard for paper cups, was introduced by Stora Enso in May 2019. Ice cream packing and hot and cold drinking cups can both be made from this material. It is available without a typical plastic coating layer and is made to allow for complete fiber recovery during recycling.

Increasing purchasing power boosts home appliance sales

Rising purchasing power plays a crucial role in boosting home appliance sales by increasing consumer demand for modern, energy-efficient, and technologically advanced products. Economic growth, urbanization, credit availability, and evolving consumer preferences for high-quality, smart appliances all contribute to the expansion of the home appliance market.

Restraint Factor for the Home Appliances Market

Rising raw material prices increase manufacturing expenses

Rising raw material prices increase manufacturing expenses, impacting various industries through higher production costs, supply chain disruptions, reduced product affordability, inflationary pressures, and quality concerns. Companies often face the dilemma of passing costs to consumers or absorbing them, while smaller firms are particularly vulnerable due to their limited financial flexibility. These restraints make it challenging for industries to maintain competitiveness and profitability in the face of fluctuating raw material markets.

Impact of Covid-19 on the Home Appliances Market

The COVID-19 pandemic significantly impacted the home appliances market, driving increased demand for essential household products. With lockdowns and remote work, consumers prioritized upgrading home appliances such as refrigerators, washing machines, and kitchen gadgets for convenience and hygiene. E-commerce channels surged as physical stores faced restrictions, reshaping purchasing behaviors. However, supply chain disruptions and production slowdowns caused delays in product availability and increased costs. The post-pandemic market remains focused on smart, energy-efficient, and health-oriented appliances. Introduction of the Home Appliances Market

The Home Appliances Market encompasses a wide range of products designed to assist with household tasks, including kitchen, cleaning, and entertainment appliances. This market is driven by increasing consumer demand for convenience, energy efficiency, and smart technology integration. Key segme...

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 433 billion U.S. dollars in mid 2021, nearly tripling the value of the market at barely 130 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 180 and 190 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 291 billion U.S. dollars in 2012 to 613 billion U.S. dollars in 2021.

Explore the Household Appliances Market trends! Covers key players, growth rate 7.4% CAGR, market size $971.15 Billion, and forecasts to 2034. Get insights now!

The Report Covers Manufacturer of Major Home Appliances and it is segmented by type (Refrigerators, Washing Machines, Dishwashers, Cookers and Ovens, freezers), by Distribution Channel, and by Geography.

According to Cognitive Market Research, the global Household Appliance market size is USD 681584.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 6.10% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 272633.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.3% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 204475.26 million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD 156764.37 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.1% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 34079.21 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.
Middle East and Africa held the market of around 2% of the global revenue with a market size of USD 13631.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.1% from 2024 to 2031.
The Refrigerators held the highest Household Appliance market revenue share in 2024.

Market Dynamics of Household Appliance Market

Key Drivers for Household Appliance Market

Busy Lifestyles and Time-Saving Needs to Increase the Demand Globally

In the trendy, rapid-paced world, time is a treasured commodity, and family chores can feel like burdensome limitations. Consequently, there may be a soaring call for appliances that streamline responsibilities, releasing humans from mundane responsibilities. Dishwashers promise spotless dishes with minimum attempt, while robotic vacuums autonomously preserve tidy floors. Smart laundry machines provide convenience by means of automated washing and drying cycles, permitting customers to multitask without sacrificing cleanliness. These time-saving home equipment no longer most effectively ease the strain of busy schedules but also provide individuals with extra money to pursue personal and professional endeavors. As the rhythm of modern existence intensifies, the charm of efficiency-driven improvements continues to develop.

Rising Disposable Income to Propel Market Growth

With rising disposable income globally, clients are increasingly willing to invest in top-rate home equipment that enhances their fine lifestyles at home. This economic freedom empowers individuals to prioritize better-pleasant products boasting advanced capabilities, elevating their domestic stories. From present-day kitchen home equipment ready with contemporary technology to sophisticated home leisure systems, human beings are trying to find gadgets that offer not only functionality but also luxury and comfort. This trend reflects a desire for greater comfort and performance, as well as a willingness to take pleasure in products that promise long-term value and satisfaction. As economic prosperity expands, so does the call for upscale appliances that cater to evolving existence and aspirations.

Restraint Factor for the Household Appliance Market

Environmental Concerns to Limit the Sales

Heightened environmental awareness activates customers to scrutinize the environmental effect of appliances at some point in their lifecycle—from manufacturing to disposal. With a developing emphasis on sustainability, manufacturers face mounting stress to undertake eco-friendly practices and expand electricity-efficient fashions. This shift necessitates innovation in manufacturing tactics to lessen carbon footprints, decrease waste generation, and utilize renewable materials. Moreover, clients have an increasing number of choose appliances with eco-friendly certifications and power-saving features, reflecting a dedication to minimizing environmental harm. By prioritizing sustainability, producers no longer meet patron expectancies but additionally make contributions to worldwide efforts to fight weather trade and preserve natural sources. As environmental recognition keeps forming patron possibilities, the future of equipment layout hinges on selling eco-friendly practices and fostering a greener, more sustainable destiny.

Impact of Covid-19 on the Household Appliance Market

The household appliance marketplace saw considerable impacts of the COVID-19 pandemic. Initially, vast lockdowns disrupted production, delivery chains, and client demand, main to manufacturing delays and inventory shortages. A...

Global retail sales of home and household appliances are forecast to grow to almost 450 billion U.S. dollars in 2021 and surpass the 500 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 90 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 Small Home Appliances Market is Segmented by Product (Vacuum Cleaners, Hair Clippers, Irons, Toasters, Hair Dryers, Coffee Machines, Grills and Roasters, and Other Products), Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online Stores, and Other Distribution Channels), and Geography (North America, Europe, Asia-Pacific, South America, Middle East & Africa). The Report Offers Market Size and Forecasts in Value (USD) for all the Above Segments.

Over the last two observations, the revenue is forecast to significantly increase in all segments. As part of the positive trend, the indicator reaches the maximum value for all three different segments at the end of the comparison period. Particularly noteworthy is the segment Household Appliances, which has the highest value of 0.85 trillion U.S. dollars. Find further statistics on other topics such as a comparison of the revenue in Poland and a comparison of the revenue change in Brazil. The Statista Market Insights cover a broad range of additional markets.

The Kitchen Appliance Market Report is Segmented by Product (refrigerators and Freezers, Dishwashers, Food Processors, Mixers and Grinders, Microwave Ovens, Grills and Roasters, And Water Purifiers), Distribution Channel (multi-Brand Stores, Exclusive Stores, And Online), End User (residential and Commercial), And Geography (North America (United States, Canada, Mexico, And Rest of North America), Europe (United Kingdom, Germany, Italy, And Rest of Europe), Asia-pacific (India, China, Japan, Australia, And Rest of Asia-Pacific), Middle East & Africa (South Africa, United Arab Emirates), And South America (Brazil, Colombia, And Mexico)). The Report Also Covers the Market Sizes and Forecasts for the Kitchen Appliance Market in Value (USD) for all the Above Segments.

China is leading the ranking by revenue in the 'Major Appliances' segment of the household appliances market, recording 99.5 billion U.S. dollars. Following closely behind is India with 34.9 billion U.S. dollars, while Ethiopia is trailing the ranking with 2.6 billion U.S. dollars, resulting in a difference of 97 billion U.S. dollars to the ranking leader, China. Find other insights concerning similar markets and segments, such as a ranking by country regarding per capita sales volume in the small appliances segment of the household appliances market and a ranking by country regarding per capita sales volume in the household appliances market. The Statista Market Insights cover a broad range of additional markets.

In 2023, six household appliances manufacturers worldwide surpassed 10 billion U.S. dollars in revenue with Midea Group leading the ranking with around 41.4 billion U.S. dollars. The other companies with annual revenues north of 10 billion U.S. dollars are Haier Smart Home leading, LG, Whirlpool, BSH Home Appliances, and Electrolux. European and Chinese companies lead the way The major players shown in the global home appliances' industry worldwide are located in Europe and China, with LG (South Korea) and Whirlpool (United States) as the exception. Midea Group and Haier Smart Home are Chinese companies, while BSH Home Appliances, Electrolux, Groupe SEB, and Arcelik are headquartered in Europe. The strong position of some of the European companies stems in part from their long-standing market presence, providing them with strong brand recognition. Home appliances segments The home and household appliances market is made up of two major segments: major and small appliances. The major appliances category includes refrigerators, freezers, stoves, cookers, ovens, washing machines, dryers, and dishwashers, among others. On the other hand, examples of small appliances include coffee machines, food processors, vacuum cleaners, microwaves, and blenders. The overall revenue of household appliances across all categories worldwide is forecast to reach 710 billion U.S. dollars by 2025.

The global home appliances market is expected to rise from USD 739.48 billion in 2024 to USD 1.6 trillion by 2037, registering a CAGR of over 6.1% during the forecast timeline, from 2025 through 2037. Key industry players include Panasonic, Sharp Corporation, Samsung Electronics Co., Ltd., among others.

The Asia Pacific Home Appliances Market Report is Segment by Major Appliances( Refrigerators, Freezers, Dishwashing Machines, Washing Machines, Cookers and Ovens, Other Major Appliances), by Small Appliances (Vacuum Cleaners, Coffee Machines, Irons, Toasters, Grills and Roasters, and Other Small Appliances), by Distribution Channel (Multibrand Stores, Exclusive Stores, Online, and Other Distribution Channels), and by Country (China, India, Japan, South Korea, Australia, New Zealand, Rest of Asia Pacific). The Report Offers Market Size and Forecasts for the Asia Pacific Home Appliances Market in Value (USD) for all the Above Segments.

The global consumer appliances market is anticipated at US$ 419 billion in 2022. Demand is likely to remain high for consumer appliances during the assessment period. This is due to the increased demand for advanced appliances and connected kitchen appliances and garnering US$ 679.8 billion in 2033, recording a CAGR of 4.5% from 2023 to 2033. The market is likely to secure US$ 437.8 billion in 2023.

Data Points	Key Statistics
Consumer Appliances Market Size Value in 2023	US$ 437.8 billion
Consumer Appliances Market Forecast Value in 2033	US$ 679.8 billion
Global Growth Rate	4.5%
Forecast Period	2023 to 2033

Consumer Appliances Market Revenue Analysis from 2018 to 2022 Vs Market Outlook for 2023 to 2033

Historical CAGR (2018 to 2022)	4.0%
Forecasted CAGR (2023 to 2033)	4.5 %

Report Scope

Attribute	Details
Growth Rate	CAGR of 4.5% from 2023 to 2033
Market Value in 2023	US$ 437.8 billion
Market Value in 2033	US$ 679.8 billion
Base Year for Estimation	2022
Historical Data	2018 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Revenue in US$ Billion and CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Equipment Component System Sorting End-Use Load Capacity Throughput Capacity Region
Regions Covered	North America Latin America Western Europe Eastern Europe South Asia and Pacific East Asia Middle East & Africa
Key Countries Profiled	United States Canada Brazil Mexico Germany United Kingdom France Spain Italy Poland Russia Czech Republic Romania India Bangladesh Australia New Zealand China Japan South Korea GCC Countries South Africa Israel Rest of MEA
Key Companies Profiled	AB Electrolux Qingdao Haier Co., Ltd. (Haier) Hitachi, Ltd. LG Electronics Inc. (LG) Midea Group Co., Ltd. (Midea) Panasonic Corporation (Panasonic) Robert Bosch GmbH Samsung Electronics Co., Ltd. Sharp Corporation (Sharp) Whirlpool Corporation

This statistic displays the global market revenue of small domestic appliances from 2009 to 2017. In 2017, the global market generated some 65.2 billion U.S. dollars in revenue. Small domestic appliances include appliances for home comfort, kitchen appliances, and personal care.

Small appliances sales – additional information

The home appliance industry is composed of two main segments: major home appliances and small home appliances. Major domestic appliances include washing machines, dishwashers, refrigerators, freezers and microwave ovens to name a few, while small appliances are, for example, food processors, toasters and slow cookers. The global household appliances market shows growth projections for the coming years, and is forecast to increase its value to just over 588 billion U.S. dollars by 2020.

Sales of small domestic appliances amounted to around 70 billion U.S. dollars worldwide in 2015. In the U.S., Americans spent an average of 105.77 U.S. dollars on small appliances and miscellaneous housewares in 2014. Some categories within the small domestic appliance market are kitchen items such as blender/mixer systems, slow cookers, juice extractors, coffee makers and compact wine coolers. Hair dryers, irons, vacuum are also popular categories within this market. Sales of some of these categories are driven by the release of innovative features, while other categories rely on their basic functionalities as a selling point. For instance, costumers look for new features when shopping for a blender/mixer, or vacuum cleaners. Rice cookers, electric kettles, waffle irons are a few examples of small appliance categories for which sales are not necessarily driven by innovative features, but by their basic functionality.

Smart appliance is a promising trend for these innovation-driven small appliance categories. According to a recent survey about the use of connected devices, consumers are most likely to use smart appliances in the coming years.

The household appliances market is projected to be valued at US$ 707.52 billion in 2023 and is expected to rise to US$ 1,328.11 billion by 2033. The sales of household appliances are expected to grow at a significant CAGR of 6.50% during the forecast period.

Attributes	Details
Household Appliances Market CAGR	6.50%
Household Appliances Market Valuation (2023)	US$ 707.52 billion
Household Appliances Market Valuation (2033)	US$ 1,328.11 billion

Scope of Report

Attribute	Details
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	US$ billion for Value
Key Countries Covered	USA, Canada, Germany, United kingdom, France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa
Key Segments Covered	Size Price Range Functionality End User Sales Channel, Region
Key Companies Profiled	Whirlpool Corporation Samsung Electronics LG Electronics Haier Group Corporation AB Electrolux Panasonic Corporation Midea Group Co., Ltd. Hitachi, Ltd. Robert Bosch GmbH GE Appliances
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing	Available upon Request

This statistic shows the market share of home appliance companies worldwide in 2014. Whirlpool's market share of the global home appliances market stood at 16 percent in 2014.

The global smart home appliances market is expected to be valued at US$ 37.73 billion in 2023. Product demand is being driven by factors, such as the growing penetration of smart homes, rising home improvement projects, and rapid developments in IT and wireless communication.

Data Points	Key Statistics
Smart Home Appliances Market Value (2023)	US$ 37.73 billion
Smart Home Appliances Market Projected Value (2033)	US$ 80.71 billion
Smart Home Appliances Market CAGR (2023 to 2033)	7.9%

The Smart Home Appliance Market Report is Segmented by Product Type (Smart Ovens, Smart Dishwashers, Smart Refrigerators, Smart Cookware and Cooktops, Smart Scale and Thermometers), and Geography (North America, Europe, Asia Pacific, and the Rest of the World). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.