North America Major Home Appliances Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | High |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
North America Major Home Appliances Market Analysis
The North American major home appliances market is valued at USD 79.74 billion and is expected to register a CAGR of greater than 3% during the forecast period.
The Major Home Appliance Market of North America is homogeneous and mature, driven by demand from the growing housing market and rising disposable income. Due to the high cost of manufacturing in the United States, many companies are offshoring products from other countries. Additionally, the appreciation of the US currency has led to more import-driven sales than export-driven. Nevertheless, the growth in disposable income and the expansion of the housing market have mitigated the negative effects associated with the appreciation of the dollar. The major Home Appliances Market in Canada is growing moderately with the rising costs of manufacturing in Canada. Therefore, many manufacturers are shifting their factories to the United States, where the labor is cheap.
An increase in trade tensions between China and the US might restrain the growth of the market. Refrigerator innovations to improve food preservation in a waste reduction effort and variable pressures in dishwashers to improve the cleaning performance are some of the innovations in the market. Manufacturers are innovating new products in the market to remain competitive in the market and introduce people to new products. Moreover, aesthetic innovations such as the expansion of color and painted steel are driving the market further. On taking account of all these factors, the market is expected to grow at a constant rate.
COVID-19 had a considerable impact on the North America Major Home Appliances Market due to the discontinuities in the production of appliances as a result of the stringent norms in major industrial areas. The supply chain was completely disrupted. However, the proportion of online sales of Major Home Appliances has increased significantly.
North America Major Home Appliances Market Trends
Increase in the revenue of Major Home Appliances through Online sales channel over Offline
There has been an increase in the sales of Major Home Appliances through online sales channels in recent years. This is primarily due to the increased penetration rate and usage of the Internet in most of the regions including semi-urban and rural areas across North America. There has also been a rise in e-commerce platforms like Amazon, eBay, Walmart, etc. Also, the prices of the Major Home Appliances through these sites are considerably less than the actual prices. Another major factor for the increase in online sales is due to the current lifestyles of people in North America, where the majority fall under the working category. It reduces the time and there is no requirement for a physical visit to the store, as all different varieties are listed on the online site. The customer can choose the product from the comfort of their home. It is further fuelled by options such as EMI. All these factors are expected to increase the proportion of online sales in the coming years.
Rise in the Average Revenue Per Capita of Major Home Appliances
North America has been a developed country for a long time due to factors like high GDP, a larger proportion of the working population, and rapid urbanization. The improved lifestyles and high income have enabled people in North America to afford Major Home Appliances like refrigerators, televisions, Washing machines, etc. The usage and purchase of these Major Appliances have been high for the past 10 to 20 years. This has resulted in the rise of the Average Revenue Per Capita of Major Home Appliances in North America. The high migration rates in the United States and Canada have further substantiated the growth of the market. As a result, the demand and supply of the Major Appliances were always high. The Average Revenue Per Capita is further expected to grow due to all these factors.
North America Major Home Appliances Industry Overview
The report includes an overview of the top players in the North American major home appliances Market. The market is consolidated with 4 to 5 players occupying major market share. There is growing brand awareness among consumers in the market, and the market is mainly comprised of globalized players. Major Players compete aggressively in the market to produce and sell a wide range of durable consumer goods such as refrigerators, laundry equipment, and dishwashers. Electrolux AB (Frigidaire) products launched the first oven with integrated Air Fry technology. This allowed consumers to make healthier, crispy, and delicious meals while eliminating the need for an expensive, bulky countertop appliance. Following is the list of players: Electrolux AB, Whirlpool Corporation., Maytag, Panasonic Corporation, and Haier Group.
North America Major Home Appliances Market Leaders
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Electrolux AB
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Whirlpool Corporation.
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Maytag
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Panasonic Corporation
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Haier Group
*Disclaimer: Major Players sorted in no particular order
North America Major Home Appliances Market News
- May 2023: Whirlpool Corporation is proud to announce that 7 products among their Whirlpool, Hotpoint, and KitchenAid brands triumphed for exceptional product design by winning the internationally prestigious iF Design Award 2023
- April 2023: Electrolux Group has been recognized for Its innovative and sustainable product design, with more than a dozen appliances winning world-renowned iF Design Awards including a coveted iF Gold Award for the Electrolux 600/AEG 6000 series of paint-free vacuum cleaners.
North America Major Home Appliances 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. INDUSTRY DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain / Supply Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers/Consumers
4.5.2 Bargaining Power of Suppliers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into Technological Advancements in the Industry
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Refrigerators
5.1.2 Freezers
5.1.3 Dishwashing Machines
5.1.4 Washing Machines
5.1.5 Microwave Ovens
5.1.6 Other Products
5.2 By Distribution Channel
5.2.1 Multi-Branded Stores
5.2.2 Exclusive Stores
5.2.3 Specialty Stores
5.2.4 Online
5.2.5 Other Distribution Channels
5.3 By Geography
5.3.1 United States
5.3.2 Canada
5.3.3 Mexico
6. COMPETITIVE LANDSCAPE
6.1 Market Competition Overview
6.2 Company Profiles
6.2.1 Electrolux AB
6.2.2 Haier
6.2.3 Whirlpool Corporation
6.2.4 Panasonic Corporation
6.2.5 Maytag
6.2.6 Fagor America
6.2.7 Hitachi
6.2.8 Philips
6.2.9 Bosch
6.2.10 Midea Group*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
North America Major Home Appliances Industry Segmentation
Major Home Appliances include all the large appliances that are useful for daily household activities, such as refrigerators, televisions, Air conditioners, Washing machines, etc. North America Major Home Appliances Market is segmented By Product (Refrigerators, Freezers, Dishwashing Machines, Washing Machines, Air Conditioners, and Others), By Distribution Channel (Multi-Branded Stores, Exclusive Stores, Specialty Stores, Online and Other Distribution Channels), and By Geography(United States, Canada, and Mexico). The report offers market size and forecasts for the North America Major Home Appliances Market in value (USD) for all the above segments.
| By Product | |
| Refrigerators | |
| Freezers | |
| Dishwashing Machines | |
| Washing Machines | |
| Microwave Ovens | |
| Other Products |
| By Distribution Channel | |
| Multi-Branded Stores | |
| Exclusive Stores | |
| Specialty Stores | |
| Online | |
| Other Distribution Channels |
| By Geography | |
| United States | |
| Canada | |
| Mexico |
North America Major Home Appliances Market Research FAQs
What is the current North America Major Home Appliances Market size?
The North America Major Home Appliances Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in North America Major Home Appliances Market?
Electrolux AB, Whirlpool Corporation., Maytag, Panasonic Corporation and Haier Group are the major companies operating in the North America Major Home Appliances Market.
What years does this North America Major Home Appliances Market cover?
The report covers the North America Major Home Appliances Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the North America Major Home Appliances Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
North America Major Home Appliances Industry Report
Statistics for the 2024 North America Major Home Appliances market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. North America Major Home Appliances analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
North America Major Home Appliances Market Report Snapshots
