Global Home Appliances Market By Overview
Introduction:
Home Appliances Market was valued at US$ 751.6 Billion in 2024 and is projected to grow at a CAGR of 5.50% to reach US$ 1287.5 Billion by 2034.
Home appliances or household appliances are electric, gas-powered, or electromechanical devices intended to perform a definite task, such as cooking, cleaning, or entertainment etc. that help consumers in everyday activities. There are a variety of products in the home appliances market which includes fridge, washing machines, heaters, TVs, air conditioners, etc.
Drivers and Restraints:
Growing awareness regarding energy-efficient & eco-friendly appliances among individuals coupled with increasing adoption of technologically and innovative advanced products are some of the major factors expected to drive the growth of the home appliances market. Increasing investment in R&D activities to innovate energy-efficient products, changing lifestyle patterns, and product innovations in terms of performance, technology, features, and design, is also projected to boost the growth of the target market to a significant extent. Moreover, inclination towards luxury and tech-savvy appliances, increasing disposable income coupled with the rising number of working women population are some of the other factors fueling the growth of the target market. Further, the development of smart homes is supporting the demand for smart appliances that can be connected to the smartphone and monitored remotely which the current trend is observed in the global market. Growing usage of the mode of connectivity as a separating feature like Bluetooth and Wi-Fi that can be used in and read by smartphones and tablets, giving an innovative way for the growth of the target market. However, lack of awareness along with the high cost associated with home appliances is hampering the growth of the target market.
Segmentation:
The home appliances market is segmented based on product type, distribution channel, and region.
Based on product type, the home appliances market is segmented into kitchen appliances (electric/microwave oven, OTG oven, dishwashers, refrigerators, cooktops and cookware (includes hobs), small cooking appliances, and hoods), washing appliances, cleaning appliances, entertainment appliances, HVAC appliances, other product types. Based on the distribution channel, the target market is segmented into speciality stores and online retail stores.
On the region, the home appliances market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America market is anticipated to dominate the home appliances market in terms of revenue. Factors such as changing consumer preferences, technological advancements in appliances, government initiatives for energy-efficient appliances coupled with improved living standards in countries in the region is also expected to drive the growth of the target market during the forecast period. The global market in Europe estimated for second-highest revenue share followed by markets in the Asia Pacific, Latin America, and Middle East & Africa respectively. The Asia Pacific market is expected to grow at a significant rate, due to emerging economies such as India and China, comprising of the large working population, development in the distribution channel, rising urbanization, coupled with increasing disposable income.
Key Players:
The key players operating the home appliances market includes Newell Brand, Midea Group Co. Ltd., Panasonic Corporation, Samsung Electronics Co. Ltd., AB Electrolux, Hitachi Ltd., Whirlpool Corporation, Haier Group Corporation, Breville Group Limited, and Robert Bosch Gmbh. Prominent players operating in the target market are focusing on strategic partnerships as well as the launching of the products to gain a competitive edge in the target market. For instance in May 2017, Midea Group Co. Ltd signed an agreement with Electrolux, as a long term strategic joint venture in China, for promotion and distribution of premium Germanbr and AEG appliances in the Chinese market.
Detailed Segmentation:
Home Appliances Market, By Product Type:
- Kitchen Appliances
- Electric/Microwave Oven
- OTG Oven
- Dishwashers
- Refrigerators
- Cooktops and Cookware (includes Hobs)
- Small Cooking Appliances
- Hoods
- Washing Appliances
- Cleaning Appliances
- Entertainment Appliances
- HVAC Appliances
- Other Product Types
Home Appliances Market, By Distribution Channel:
- Speciality Stores
- Online Retail Stores
Home Appliances Market, By Region:
- North America
- Middle East & Africa
- Middle East & Africa Home Appliances Market, By Product Type
- Middle East & Africa Home Appliances Market, By Distribution Channel
- Middle East & Africa Home Appliances Market, By Country
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
- Latin America
- Latin America Home Appliances Market, By Product Type
- Latin America Home Appliances Market, By Distribution Channel
- Latin America Home Appliances Market, By Country
- Brazil
- Mexico
- Rest of Latin America
- Asia Pacific
- Asia Pacific Home Appliances Market, By Product Type
- Asia Pacific Home Appliances Market, By Distribution Channel
- Asia Pacific Home Appliances Market, By Country
- China
- India
- Japan
- South Korea
- RestofAsia Pacific
- Europe
- Europe Home Appliances Market, By Product Type
- Europe Home Appliances Market, By Distribution Channel
- Europe Home Appliances Market, By Country
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- North America Home Appliances Market, By Product Type
- North America Home Appliances Market, By Distribution Channel
- North America Home Appliances Market, By Country
- U.S.
- Canada
- Middle East & Africa
Company Profile:
- Newell Brand
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Midea Group Co. Ltd.
- Panasonic Corporation
- Samsung Electronics Co. Ltd.
- AB Electrolux
- Hitachi Ltd.
- Whirlpool Corporation
- Haier Group Corporation
- Breville Group Limited
- Robert Bosch Gmbh
“*” marked represents similar segmentation in other categories in the respective section
Global Home Appliances Market By Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Preview
- Executive Summary
- Key Findings—Global Outlook for Home Appliances Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product Type
- Market Snippet, By Distribution Channel
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Market Segmentation, By Product Type, 2024 – 2034, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
- Y-o-Y Growth Analysis (%), 2024 – 2034
- Segment Trends
- Kitchen Appliances
- Overview
- Market Home Appliances and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Electric/Microwave Oven
- OTG Oven
- Dishwashers
- Refrigerators
- Cooktops and Cookware (includes Hobs)
- Small Cooking Appliances
- Hoods
- Washing Appliances
- Overview
- Market Home Appliances and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Cleaning Appliances
- Overview
- Market Home Appliances and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Entertainment Appliances
- Overview
- Market Home Appliances and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- HVAC Appliances
- Overview
- Market Home Appliances and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Other Product Types
- Overview
- Market Home Appliances and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Overview
- Market Segmentation, By Distribution Channel, 2024 – 2034, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
- Y-o-Y Growth Analysis (%), 2024 – 2034
- Segment Trends
- Speciality Stores
- Overview
- Market Home Appliances and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Online Retail Stores
- Overview
- Market Home Appliances and Forecast (US$ Bn), and Y-o-Y Growth (%), 2024 – 2034
- Overview
- Global Market, By Region, 2024 – 2034, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2024 – 2034
- Y-o-Y Growth Analysis (%), 2024 – 2034
- Regional Trends
- North America
- Market Home Appliances and Forecast (US$ Bn), By Product Type, 2024 – 2034
- Market Home Appliances and Forecast (US$ Bn), By Distribution Channel, 2024 – 2034
- Market Home Appliances and Forecast (US$ Bn), By Country, 2024 – 2034
- U.S.
- Canada
- Europe
- Market Home Appliances and Forecast (US$ Bn), By Product Type, 2024 – 2034
- Market Home Appliances and Forecast (US$ Bn), By Distribution Channel, 2024 – 2034
- Market Home Appliances and Forecast (US$ Bn), By Country, 2024 – 2034
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Home Appliances and Forecast (US$ Bn), By Product Type, 2024 – 2034
- Market Home Appliances and Forecast (US$ Bn), By Distribution Channel, 2024 – 2034
- Market Home Appliances and Forecast (US$ Bn), By Country, 2024 – 2034
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Home Appliances and Forecast (US$ Bn), By Product Type, 2024 – 2034
- Market Home Appliances and Forecast (US$ Bn), By Distribution Channel, 2024 – 2034
- Market Home Appliances and Forecast (US$ Bn), By Country, 2024 – 2034
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Home Appliances and Forecast (US$ Bn), By Product Type, 2024 – 2034
- Market Home Appliances and Forecast (US$ Bn), By Distribution Channel, 2024 – 2034
- Market Home Appliances and Forecast (US$ Bn), By Country, 2024 – 2034
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Newell Brand
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Overview
- Business Strategies
- Midea Group Co. Ltd.
- Panasonic Corporation
- Samsung Electronics Co. Ltd.
- AB Electrolux
- Hitachi Ltd.
- Whirlpool Corporation
- Haier Group Corporation
- Breville Group Limited
- Robert Bosch Gmbh
- Newell Brand
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Home Appliances Market report segments the market been segmented on the basis product type, distribution channel, and region
Growing awareness regarding energy-efficient & eco-friendly appliances among individuals coupled with increasing adoption of technologically and innovative advanced products are some of the major factors expected to drive the growth of the global home appliances market.
North America market is anticipated to dominate the global home appliances market
The leading players operating in the Home Appliances Market includes Newell Brand, Midea Group Co. Ltd., Panasonic Corporation, Samsung Electronics Co. Ltd., AB Electrolux, Hitachi Ltd., Whirlpool Corporation, Haier Group Corporation, Breville Group Limited, and Robert Bosch Gmbh.