US Electronics & Appliance Stores Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | > 2.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
US Electronics & Appliance Stores Market Analysis
The United States Electronics and Appliance Stores Market is expected to register a CAGR of greater than 2% during the forecast period(2024-2029).
The electric appliance market over the period had focused on energy-efficient products and shifted towards sustainable and eco-friendly products. Enabling AI and IOT in electric appliances is revolutionizing the market with new features and controls.
With the advent of COVID-19, there arose a problem of supply chain disruptions in electrical appliances. As with the advent of COVID-19, consumers were spending more time at home, and a need arose for replacing or upgrading their appliances. Freezers and washing machines were among the appliances observing an increase in demand. With COVID-19, the frequency of use of electrical equipment observed a continuous increase; the use of washers and dryers was up by 25%, and the sanitizing cycle on washers was up by 85%. As a result, demand for equipment exceeds supply, causing delivery delays to customers.
As the economies are recovering and supply chains are recovering. Electric appliance stores are observing a steady state between the supply and demand of electric appliances. With the continuous recovery of sales in June 2021, monthly sales of electronics and appliance stores reached USD 8.49 billion, recovering from a decline of USD 3.52 billion in April 2020.
US Electronics & Appliance Stores Market Trends
AI And IOT Enabled Electronic Appliance DrivingUS Electronics and Appliance Stores Market
As firms compete with each other for providing advanced and more comfortable products, AI and IoT are among the innovations that have been incorporated into electrical appliances. Through this innovation, stores are now making available smart washing machines, refrigerators, speakers, and TVs. Similarly, for security systems, there is the availability of a door lock system and a smart camera, and for remote assistance, energy saving, baby monitoring, and robotic cleaners have evolved.
Televisions equipped with AI and IoT technologies were among the smart home devices having the highest penetration rate in 2022, while other devices still have a large gap to be filled.
Large Customer Choice Base Increasing Product Varieties And Sales Of Electronics And Appliance Stores.
During that time, a lot of companies got into the business of making electrical appliances.A wide variety and range of electrical appliances are available in US stores as per customer needs. For people with a high level of income, the latest technology appliances that cost a lot have been made available, and for low-income groups, existing technology appliances have been made available. This increase in the variety of products available has increased the movement of people to electrical appliance stores to buy a product that suits their needs and their pockets.
With this wide variety of product availability, monthly sales of electronic appliance stores in the US observed a recovery after the negative impact of COVID-19 on the market, reaching an average monthly sales level of USD 8.44 billion in 2021. Personal care and electrical appliances observed retail sales of USD 7.5 billion in 2022, indicating a demonstration effect of an increase in their sales from stores as well.
United States Electronics & Appliance Stores Industry Overview
Panasonic, GE Appliances, Aqua, Haier, Whirlpool, Bosch, Midea Group, Hitachi Limited, Candy, Philips, and Toshiba are among the players existing and operating in the United States electronic appliance store market. The stores are focusing on their distribution channels-online, specialty stores, and multi-branded stores-to increase their market share and occupy a large segment of consumer demand.
US Electronics & Appliance Stores Market Leaders
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Haier
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Philips
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Bosch
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GE Appliance
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Whirlpool
*Disclaimer: Major Players sorted in no particular order
US Electronics & Appliance Stores Market News
- In August 2023, GE Appliances, a Haier company, and Google Cloud expanded their partnership to enhance and personalize consumer experiences with generative AI. GE Appliances’ SmartHQ consumer app will use Google Cloud’s generative AI platform, Vertex AI, to offer users the ability to generate custom recipes based on the food in their kitchen with its new feature called Flavorly™ AI.
- November 2022: Whirlpool completes the acquisition of InSinkErator, which is the world's largest manufacturer of food waste disposers and hot water dispensers for home and commercial use. Whirlpool is among the best global kitchen and laundry company with InSink is the world's largest manufacturer of food waste disposers and instant hot water dispensers for home and commercial use.
- On February 2022, Mitsubishi Electric Corporation acquired Computer Protection Technology, Inc. (CPT), headquartered in San Diego, with an aim towards expanding its uninterruptible power supply (UPS) business in North America. CPT is driven to provide personal, honest and reliable Power Protection services with Mitsubishi Electric Corporation serving the North American power systems, data center, rail transportation, and large visual display markets.
US Electronics & Appliance Stores 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 DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers
4.5.2 Bargaining Power of Suppliers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights of Technology Innovations in the Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Hardware Supplier
5.1.2 Security Stores
5.1.3 Consumer Electronic Store
5.2 By Ownership
5.2.1 Retail Chain
5.2.2 Independent Retailer
5.3 By Type of Store
5.3.1 Exclusive Retailers/showroom
5.3.2 Inclusive Retailers/Dealers Store
5.3.3 Online
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Panasonic
6.2.2 GE Appliance
6.2.3 Whirlpool
6.2.4 Bosch
6.2.5 Hitachi Limited
6.2.6 Candy
6.2.7 Phillips
6.2.8 Toshiba
6.2.9 Haier
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
US Electronics & Appliance Stores Industry Segmentation
Stores that sell appliances and electronics to end consumers from fixed point-of-sale locations are known as electronics and appliance stores. The premises where electronics and appliance stores are normally run include space for floor displays and electricity to power product demonstrations.
The United States Electronics And Appliance Stores Market Is Segmented By Type (Hardware Suppliers, Security Stores, Consumer Electronics Stores), By Ownership (Retail Chain, Independent Retailer), And By Type Of Store (Exclusive Retailers/Showrooms, Inclusive Retailers/Dealer Stores, Online). The Report Offers Market Size And Forecasts For The United States Electronics And Appliance Stores Market In Volume (Number Of Stores) And Value (USD) For All The Above Segments.
| By Type | |
| Hardware Supplier | |
| Security Stores | |
| Consumer Electronic Store |
| By Ownership | |
| Retail Chain | |
| Independent Retailer |
| By Type of Store | |
| Exclusive Retailers/showroom | |
| Inclusive Retailers/Dealers Store | |
| Online |
US Electronics & Appliance Stores Market Research FAQs
What is the current United States Electronics and Appliance Stores Market size?
The United States Electronics and Appliance Stores Market is projected to register a CAGR of greater than 2% during the forecast period (2024-2029)
Who are the key players in United States Electronics and Appliance Stores Market?
Haier, Philips, Bosch, GE Appliance and Whirlpool are the major companies operating in the United States Electronics and Appliance Stores Market.
What years does this United States Electronics and Appliance Stores Market cover?
The report covers the United States Electronics and Appliance Stores Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Electronics and Appliance Stores Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
United States Electronics and Appliance Stores Industry Report
Statistics for the 2024 United States Electronics and Appliance Stores market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. United States Electronics and Appliance Stores analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
