Home Appliances Market Analysis | 2021-2026

Market Insights

The Home Appliances Market is estimated to grow from USD 610.5 million in 2020 to USD 845.7 million by 2026 at a healthy CAGR of 5.6% during the forecast period.

Wish to get a free sample? Register Here

What are home appliances?

Home appliances can be broadly classified into three categories, namely major appliances or white goods, consumer electronics, and small appliances. Major appliances are large home appliances used for regular housekeeping tasks such as washing laundry, cooking, food preservation, etc.

Key Players

Key players operating in the home appliances market are-

• Haier (China)
• Whirlpool Corporation (US)
• Samsung Electronics (South Korea)
• LG Electronics (South Korea)
• Bosch (Germany)
• Sony (Japan)
• Midea (China)
• Electrolux (Sweden)
• Philips (Netherlands)
• Panasonic Corporation (Japan).

Market Dynamics

Rising technological developments, rapid urbanization, significant growth in the housing sector, rise in per capita income, and better living standards are some of the key factors boosting the market growth. Also, the surge in need for comfort in household chores and change in consumer lifestyle toward energy-efficient and eco-friendly appliances further augment the product demand. Moreover, favorable government initiatives for energy-efficient appliances in developed economies offer immense growth opportunities to the industry players.

COVID-19 Impact

The COVID-19 outbreak has moderately affected the home appliances industry. The virus outbreak has turned the lives of people worldwide, with the number of cases increasing rapidly. The pandemic disrupted the global supply chain of the major home appliances and consumer electronic brands, thus affecting the market growth.

To get the full scope of the report, Register Here

Segment Analysis

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The home appliances market is segmented into the following categories-

By Product Type:

• Refrigerator
• Air Conditioner & Heater
• Entertainment & Information Appliances
• Washing Machine
• Cleaning Appliance
• Cooktop
• Cooking Range
• Microwave & Oven
• Others

By Distribution Channel Type:

• Supermarket & Hypermarket
• Specialty Stores
• E-Commerce
• Others

By Region:

• North America
• Europe
• Asia-Pacific
• Rest of the World

Product Trends

The home appliances market is classified into refrigerator, air conditioners & heaters, entertainment & information appliances, washing machine, cleaning appliances, cooktops, cooking ranges, microwaves & ovens; and others. The refrigerator segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. Refrigerators are generally operated continuously throughout the year. It has become a vital part of a household and is one of the first appliances, which is purchased once the household income reaches an adequate level, further bolstering segment growth. 

Regional Analysis

The Asia Pacific market accounted for a significant share in 2020 and is expected to grow at a substantial CAGR in the following years. This is mainly ascribed to a rise in household income, an increase in the middle-class population, rapid urbanization, easy access to consumer finance, easy access to goods through the development of retail channels, and changes in lifestyles of the population, further proliferating regional market growth.

To know which region offers the best growth opportunities, Register Here

Target Audience

Here is the list of the group of customers that the market hopes to have the greatest opportunity to convert-

• Distributors
• Suppliers
• Manufacturers
• Logistics organizations
• Government bodies

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What deliverables will you get in this report?

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tool. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with companies across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.