US 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 | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
US Home Appliances Market Analysis
The United States Home Appliances Market has achieved approximately a revenue of USD 60 billion and is poised to grow at a CAGR of approximately 3% during the forecast period.
The market for home appliances in the United States is highly saturated, with most of the product categories in home appliances exhibiting a high rate of penetration. Manufacturers are investing heavily in R&D for disruptive innovation, innovating on the size of products, further increasing the number of value-added services of the products. The volume growth of appliances sold was much higher than in the previous several years, indicating the kind of growth to be expected in the next few years in the home appliances market. The invasion of Chinese products in the local market has led to fierce competition and competitive pricing has led to a very active market scenario in the country.
Technological innovation has improved the standard of living of people across the world. An astronomical change in the way things can be observed due to the increased disposable incomes of people and the rapid urbanization trends catching up to the different parts of the world.
The rapid spread of COVID-19 led to serious challenges for most suppliers of manufactured products, including home appliances in the United States, in the form of supply chain disruptions. limited availability of components, restricted labor supply, and other supply chain-related costs are some of the major challenges that the industry witnessed. Post Covid the market has witnessed steady growth in revenue, and sustainable solutions were brought into the market under product innovations.
US Home Appliances Market Trends
The Growth of the Housing Sector is Driving the Market
The housing sector in the United States is likely to generate increased demand for home appliances in the country, thus boosting the future growth prospects of the market. When there is growth in the housing sector, there will be demand for home appliances and the market will continue to grow. The performance of the housing market has a direct impact on the manufacturing of home appliances. Improvement in living standards and the development of the housing sector fosters the growth of the market. Housing activities have always been there, and appliances like these are making life easier hence increasing the demand for these products.
E-Commerce is Driving the Market
The E-commerce segment is expected to witness rapid growth during the forecast period owing to the high penetration of the Internet and smartphones, along with technological advancements, changes in shopping behavior due to digitalization, availability of a wide range of products, and wide range of discounts and offers on online shopping sites. In addition, improvements in after-sales services have provided an impetus to the home appliances market growth. Manufacturers are working with several other companies to ensure timely delivery and installation after the online sales of the product.
US Home Appliances Industry Overview
The report covers major international players operating in the United States Home Appliances Market. In terms of market share, some of the major players currently dominate the market like Whirlpool Corporation, LG Electronics, Electrolux, Samsung, Panasonic, and Haier Electronics Group Co. Ltd. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets.
US Home Appliances Market Leaders
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Whirlpool Corporation
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LG Electronics
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Electrolux
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Samsung
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Panasonic
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Haier
*Disclaimer: Major Players sorted in no particular order
US Home Appliances Market News
- February 2023: Philips Domestic Appliances has appointed Omnicom Media Group (OMG) as its global media agency, covering all the company's appliances in over 100 countries, including kitchen appliances, coffee makers, indoor climate control, clothes steaming, ironing, and floor cleaning appliances. OMG will provide a tailored media platform to support the company's new marketing model.
- January 2023: Samsung has announced the global launch of a new column refrigerators named the Bespoke Infinite Line refrigerator. The company's built-in refrigerator will be available with a choice of fridge, freezer, or wine cellar models.
US 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. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Industry Value Chain Analysis
4.6 Insights On Consumer Behavior Analysis
4.7 Insights on Technology Innovations in the Industry
4.8 Industry Attractiveness: Porter's Five Forces Analysis
4.8.1 Threat of New Entrants
4.8.2 Bargaining Power of Buyers/Consumers
4.8.3 Bargaining Power of Suppliers
4.8.4 Threat of Substitute Products
4.8.5 Intensity of Competitive Rivalry
4.9 Impact of COVID 19 on the Market
5. MARKET SEGMENTATION
5.1 Product
5.1.1 Major Appliances
5.1.1.1 Refrigerators
5.1.1.2 Freezers
5.1.1.3 Dishwashing Machines
5.1.1.4 Washing Machines
5.1.1.5 Cookers and Ovens
5.1.2 Small Appliances
5.1.2.1 Vacuum Cleaners
5.1.2.2 Small Kitchen Appliances
5.1.2.3 Hair Clippers
5.1.2.4 Irons
5.1.2.5 Toasters
5.1.2.6 Hair Dryers
5.1.2.7 Other Small Appliances
5.2 Distribution Channel
5.2.1 Multibrand Stores
5.2.2 Exclusive Stores
5.2.3 Online
5.2.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Samsung Electronics
6.2.2 LG Electronics
6.2.3 Electrolux AB
6.2.4 Whirlpool Corporation
6.2.5 Panasonic Corporation
6.2.6 Haier Electronics Group Co. Ltd
6.2.7 Koninklijke Philips NV
6.2.8 Conair Corporation
6.2.9 Toshiba Corporation
6.2.10 Robert Bosch GMBH*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE OF THE MARKET
8. DISCLAIMER AND ABOUT US
US Home Appliances Industry Segmentation
A complete background analysis of the United States Home Appliances Market, which includes a complete assessment of the market, key players, emerging market trends by segments, significant changes in the market dynamics, and the market overview is covered in the report. The United States home appliances market is segmented by Product (Major Appliances (Refrigerators, Freezers, Dishwashing Machines, Washing Machines, Ovens, Air Conditioners, and Other Major Appliances), Small Appliances (Coffee or Tea Makers, Food Processors, Grills and roasters, Vacuum Cleaners, Other Small Appliances)), and by Distribution Channel (Multibrand Stores, Exclusive Stores, Online, and Other Distribution Channels). The report offers market size and forecasts for the United States Home Appliances Market in value (USD Million) for all the above segments.
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US Home Appliances Market Research FAQs
What is the current United States Home Appliances Market size?
The United States 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 United States Home Appliances Market?
Whirlpool Corporation, LG Electronics, Electrolux , Samsung , Panasonic and Haier are the major companies operating in the United States Home Appliances Market.
What years does this United States Home Appliances Market cover?
The report covers the United States Home Appliances Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the United States Home Appliances Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
US Home Appliances Industry Report
Statistics for the 2024 US Home Appliances market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. US Home Appliances analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
