The Household Appliances Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Household Appliances Global Market Report 2024, The household appliances market size has grown strongly in recent years. It will grow from $596.03 billion in 2023 to $644.42 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to increased home renovation, housing market growth, electrification of homes, changing lifestyles, energy efficiency awareness, demographic shifts.
The household appliances market size is expected to see strong growth in the next few years. It will grow to $854.21 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to growing smart home integration, rising middle-class population, health and wellness features, aging population needs, energy storage integration. Major trends in the forecast period include sustainable design, internet of things (iot), voice and ai integration, compact and multi-functional appliances, advanced cooking technologies, customization and personalization.
The rising trend of outdoor parties and cookouts on weekends and holidays is expected to drive the market for household appliances in the forecast period. Rapidly evolving lifestyle along with the increasing outdoor recreational activities would increase the demand for house hold appliances. The Europe household appliances market is expected to grow to $5.98 million by 2026. Increasing access to unique camping sites, and increasing adventure camping, coupled with the rising disposable income would drive the market for household appliances globally, which in turn would boost the market for household appliances in the forecast period.
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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 Covered: Household Type Fans, Household Type Vacuum Cleaners, Other Household Type Small Electric Appliances, Electric Stoves, Microwave Ovens, Barbecues And Grills, Other Household Cooking Appliance, Refrigerators, Freezers, Ice Boxes, Refrigerator/Freezer Combinations, Washing Machines, Ironers, Dryers, Other Household Laundry Equipment, Dishwashers, Waste Disposable Units, Water Heaters, All Other Major Household Appliance
Household appliance manufacturers are embedding LED lights in their products to minimize power consumption. LED lights require lesser wattage as compared to CFL or incandescent light bulbs. Household appliance manufacturers are more focused on introducing products with LED lighting for minimal power consumption and improved visual appearance. For instance, GE’s LED refrigerator lighting system minimizes power consumption by 80% compared to halogen lamps. The company has introduced products such as café’s French door refrigerators and profile wall ovens with this lighting. For instance, some of the major companies manufacturing LED lighting include Philip Electronics N.V., Osram Opto, Digital Lumens Inc., and Cree Corporation.
The household appliances market report table of contents includes:
- Executive Summary
- Household Appliances Market Characteristics
- Household Appliances Market Trends And Strategies
- Household Appliances Market - Macro Economic Scenario
- Global Household Appliances Market Size and Growth
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- Global Household Appliances Market Competitive Benchmarking
- Global Household Appliances Market Competitive Dashboard
- Key Mergers And Acquisitions In Household Appliances Market
- Household Appliances Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Samsung Electronics Co. Ltd.
- Hitachi Appliances
- LG Electronics
- Panasonic Appliances
- Qingdao Haier Co. Ltd.
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In this report, Researchers have analyzed Strength, Weakness, opportunities and threats in the market and provides the unbiased picture of the market with the Qualitative and informative knowledge.
; Panasonic Corporation; BSH Home Appliances Group; Hitachi Appliances, Inc.; Mabe; Midea Group; Miele & Cie.
; SHARP CORPORATION Global Household Appliances Market is expected to rise to an estimated value of USD 764.20 billion by 2026, rising from its initial estimated value of USD 521.59 billion in 2018, registering a CAGR of 4.89% in the forecast period of 2019-2026For In-Depth Review | Get Sample PDF@ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-household-appliances-marketMarket Definition: Global Household Appliances MarketHousehold appliances also known as home or domestic appliances are devices and equipments that have been produced to increase the comfort levels of consumers and provide comfort in household activities such as cooking, cleaning, washing, storage, entertainment.
Based on their functions and capabilities they are either mobile or fixedHousehold Appliances Market Scope and Market SizeGlobal Household Appliances Market By Product (Air Conditioners & Heaters, Laundry Appliances, Dishwashers, Cooking Appliances, Storage Appliances, Entertainment & Infotainment Appliances, Others)Distribution Channel (Supermarkets & Hypermarkets, Retail, E-Commerce, Direct, Others) Top Manufacturers Profiles Operating in the Household Appliances Market : Few of the major competitors currently working in the household appliances market are Whirlpool Corporation; Morphy Richards; LG Electronics; Havells India Ltd.; SAMSUNG; Electrolux; Koninklijke Philips N.V.; Haier lnc.
; SHARP CORPORATION; Aabsal Company; Ariston Thermo SpA; BORK; MIRC ELECTRONICS LIMITED; V-GUARD INDUSTRIES LTD and Teka Group.Household Appliances Market Country Level AnalysisHousehold Appliances Market is analysed and market size insights and trends are provided product & services, sample type, storage type, application, type of biobank and ownership as referenced above.The countries covered in the biobanking 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 in the Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa as a part of Middle East and Africa, Brazil, Argentina and Rest of South America as part of South America.
Also it creates a relationship of the market outlook with Porter Five Force AnalysisThis research report is inclusive concept of the market progression.
