North America Home Appliances Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 82.27 Billion |
| Market Size (2029) | USD 95.98 Billion |
| CAGR (2024 - 2029) | 3.13 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
North America Home Appliances Market Analysis
The North America Home Appliances Market size is estimated at USD 82.27 billion in 2024, and is expected to reach USD 95.98 billion by 2029, growing at a CAGR of 3.13% during the forecast period (2024-2029).
The North American home appliances market is a significant and mature market with a wide range of products catering to various household needs. It includes refrigerators, washing machines, dishwashers, ovens, microwaves, vacuum cleaners, and more. Rising disposable incomes and improving living standards have increased home appliance spending.
The market has witnessed innovations such as smart appliances with internet connectivity, energy-efficient appliances, and advanced features, driving consumer demand. Consumers often replace or upgrade their appliances due to aging, wear and tear, or to take advantage of new features and energy efficiency. Rapid urbanization in North America has resulted in an increasing number of households, creating a demand for home appliances. Online retail platforms have gained popularity, offering consumers convenience and a wide range of options.
North America Home Appliances Market Trends
Small Appliances are Dominating the Market
In contrast to major appliances such as refrigerators, washing machines, dryers, freezers, dishwashers, and microwave ovens, small appliances such as vacuum cleaners, coffee makers, toasters, hairdryers, curlers, kettles, steam units, and fryers are constantly growing. Smart home appliance sales are constantly increasing, owing to factors like their low presence rate in the market, the improving innovation and automation they hold, affordable prices, and the precision they bring to the task at hand. These products ease the working population's lives, which comforts consumers by minimizing their time on tasks.
Increasing Online Sales Driving the Market
The North American home appliances market has witnessed substantial growth in online sales. This trend has been particularly prominent in the home appliances sector. Online shopping offers convenience to consumers, allowing them to browse and purchase home appliances from the comfort of their homes. This convenience factor has appealed to many consumers, from busy professionals to individuals who prefer to avoid crowded stores. Manufacturers and retailers have recognized the importance of online channels and have invested in expanding their e-commerce capabilities to cater to the increasing demand. Overall, the convenience, extensive product selection, competitive pricing, and improved customer experience offered by online sales have been instrumental in driving the growth of the home appliances market in North America.
North America Home Appliances Industry Overview
The North American home appliances market is moderately competitive, with many prominent players operating in the region. Whirlpool Corporation, Electrolux AB, Samsung Electronics, Panasonic Corporation, and LG Electronics are a few of the major players. Market participants engaged in partnerships, and mergers and acquisitions to increase their market share during the study period. During the forecast period, the market offers growth prospects, which are anticipated to intensify competition. However, mid-size to smaller businesses are expanding their market presence by landing new contracts and breaking into untapped sectors thanks to product innovation and technology improvement.
North America Home Appliances Market Leaders
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Whirlpool Corporation
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Electrolux AB
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Samsung Electronics
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Panasonic Corporation
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LG Electronics
*Disclaimer: Major Players sorted in no particular order
North America Home Appliances Market News
- April 2023: To enter the Indian market, American consumer electronics manufacturer Frigidaire partnered with Indian consumer electronics company Ossify.
- January 2022: Exertis expanded in the United States with the acquisition of Almo Corp. DCC Technology, which trades as distributor Exertis, announced its acquisition of Almo Corp. in North America.
North America Home Appliance Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Urbanization is Driving the Market
4.2.2 Rising Disposable Income is Driving the Market
4.3 Market Restraints
4.3.1 Price Sensitivity of Consumers is Restraining the Market
4.3.2 Saturation of the Market, with Availability of Wide Range of Brands and Products
4.4 Market Opportunities
4.4.1 Increasing Trend of Smart Home Technology
4.5 Supply Chain/Value Chain Analysis
4.6 Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Insights into Technological Innovations in the Market
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Major Appliances
5.1.1 Refrigerators
5.1.2 Freezers
5.1.3 Dishwashing Machines
5.1.4 Washing Machines
5.1.5 Cookers and Ovens
5.2 By Small Appliances
5.2.1 Vacuum Cleaners
5.2.2 Small Kitchen Appliances
5.2.3 Hair Clippers
5.2.4 Irons
5.2.5 Toasters
5.2.6 Grills and Roasters
5.2.7 Hair Dryers
5.3 By Distribution Channel
5.3.1 Supermarkets/Hypermarkets
5.3.2 Specialty Stores
5.3.3 E-Commerce Stores
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Analysis
6.2 Company Profiles
6.2.1 Whirlpool Corporation
6.2.2 Electrolux AB
6.2.3 LG Electronics
6.2.4 Samsung Electronics
6.2.5 Panasonic Corporation
6.2.6 Haier Electronics Group Co. Ltd
6.2.7 BSH Hausgeräte GmbH
6.2.8 Arcelik AS
6.2.9 Gorenje Group
6.2.10 Mitsubishi Electric Corporation*
- *List Not Exhaustive
7. MARKET OPPORTUNTIES AND FUTURE TRENDS
8. APPENDIX AND ABOUT US
North America Home Appliances Industry Segmentation
A gadget that helps with household chores like cooking, cleaning, and food preservation is called a home appliance, sometimes known as a domestic appliance, an electric appliance, or a household appliance. The report contains a complete background analysis of the North American home appliances market, which includes an assessment of the industry associations, overall economy, and emerging market trends by segment. Moreover, significant changes in the market dynamics and market overview are covered in the report. The North American home appliances market is segmented by major appliances, which include refrigerators, freezers, dishwashing machines, washing machines, cookers, and ovens; by small appliances, including vacuum cleaners, small kitchen appliances, hair clippers, irons, toasters, grills, and roasters, and hair dryers; and by distribution channel including supermarkets/hypermarkets, specialty stores, and e-commerce stores. The report offers market size and forecast values for the North American home appliances market in USD for the above segments.
| By Major Appliances | |
| Refrigerators | |
| Freezers | |
| Dishwashing Machines | |
| Washing Machines | |
| Cookers and Ovens |
| By Small Appliances | |
| Vacuum Cleaners | |
| Small Kitchen Appliances | |
| Hair Clippers | |
| Irons | |
| Toasters | |
| Grills and Roasters | |
| Hair Dryers |
| By Distribution Channel | |
| Supermarkets/Hypermarkets | |
| Specialty Stores | |
| E-Commerce Stores |
North America Home Appliance Market Research FAQs
How big is the North America Home Appliances Market?
The North America Home Appliances Market size is expected to reach USD 82.27 billion in 2024 and grow at a CAGR of 3.13% to reach USD 95.98 billion by 2029.
What is the current North America Home Appliances Market size?
In 2024, the North America Home Appliances Market size is expected to reach USD 82.27 billion.
Who are the key players in North America Home Appliances Market?
Whirlpool Corporation, Electrolux AB, Samsung Electronics, Panasonic Corporation and LG Electronics are the major companies operating in the North America Home Appliances Market.
What years does this North America Home Appliances Market cover, and what was the market size in 2023?
In 2023, the North America Home Appliances Market size was estimated at USD 79.69 billion. The report covers the North America Home Appliances Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the North America Home Appliances Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Home Appliance Industry Report
The North American home appliance market is a dynamic and evolving industry, characterized by significant growth and innovation. The industry analysis reveals a comprehensive industry overview, detailing the various segments and distribution channels that contribute to the market's expansion. Major appliances, such as refrigerators, freezers, dishwashing machines, washing machines, cookers, and ovens, along with small appliances like vacuum cleaners, small kitchen appliances, hair clippers, irons, toasters, grills and roasters, and hair dryers, are pivotal to the market's structure.
The market share and market size of these segments are critical metrics that highlight the industry's performance. The industry profile and market research provide a deeper understanding of the market dynamics, including industry trends and market outlook. The industry analysis report offers valuable insights into the market's growth rate and the factors driving this growth.
Distribution channels such as supermarkets/hypermarkets, specialty stores, e-commerce stores, and other distribution channels play a significant role in market penetration and accessibility. The industry outlook and market forecast indicate positive trends and potential opportunities for stakeholders.
The report example and report pdf serve as essential tools for industry stakeholders, offering detailed market data, market overview, and market segmentation. These resources help in understanding the market value and the contributions of market leaders.
The industry research and industry reports are instrumental in providing accurate industry statistics and market predictions. The market review and market growth analysis highlight the progress and future potential of the industry.
Overall, the North American home appliance market is poised for continued expansion, driven by innovation, consumer demand, and strategic market segmentation. The comprehensive report provides a detailed and insightful perspective on the industry's current state and future outlook.
