NEW YORK, Dec. 5, 2022 /PRNewswire/ -- Technavio categorizes the global household appliance market as a part of the household appliances market, the parent market. The global household appliances market includes power and hand tools, including garden improvement tools. The parent market is categorized into two segments, namely major household appliances and small household appliances. The global household appliance market size is estimated to increase by USD 120.36 billion from 2022 to 2027. The market's growth momentum will accelerate at a CAGR of 5.23%.
Global household appliance market - Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines –
- Key purchase criteria
- Adoption rates
- Adoption lifecycle
- Drivers of price sensitivity
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Global household appliance market – Vendor Analysis
Vendor Landscape - The global household appliance market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer household appliances in the market are AB Electrolux, Breville USA Inc., Dyson Ltd., Glen Dimplex Group, Groupe SEB, Hamilton Beach Brands Inc., Hisense International Co. Ltd., Koc Holding AS, LG Electronics Inc., MIDEA Group Co. Ltd., and others.
The global household appliance market is at its growing stage. The key inputs by these vendors include brand, labor, technology, CAPEX, and R&D. The vendors invest heavily in building infrastructure suitable for manufacturing and testing household appliances. In addition, they also emphasize high on technology for innovating products to sustain in the competitive market. Moreover, the deployment of labor is high in the global household appliance market but is expected to witness a decline during the forecast period owing to manufacturing process automation.
Vendor Offerings -
- AB Electrolux: The company offers household kitchen appliances that are designed to be used for domestic applications.
- Breville USA Inc.: The company offers a smart oven air fryer pro which is designed to cook frozen products.
- Dyson Ltd: The company offers a pure hot cool link HP02 purifying heater along with a fan which is designed to be used for cooling and heating the atmospheric air in residential space.
- Hisense International Co. Ltd.: The company offers a 22-quart electric roaster oven which is designed to roast nonveg food products like chicken and fish.
- Koc Holding AS: The company offers RQ 56 WC 452 liter cross-door refrigerator home appliance which is designed for residential purposes.
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Global household appliance market - Segmentation Assessment
Geography Overview
Based on geography, the global household appliance market is segmented into North America, Europe, APAC, South America, and the Middle East and Africa. The report provides actionable insights and an accurate estimation of the contribution of all regions to the growth of the global earphone and headphone market.
- APAC will account for 50% of the global household appliance market in 2022. The market growth in APAC is majorly driven by the growing middle-class population and their rising income, which empowered their spending power on household needs and appliances. Moreover, the evolving urbanization and lifestyle of the population in the region are also driving the market growth. Growing urbanization increased awareness among people about evolving appliances. This has compelled them to switch from traditional cooking, housekeeping, and home care methods to advanced household appliances for home care and other household applications. The rising income and a high standard of living coupled with modernization are also further propelling the demand for premium household appliances, fostering the growth of the focused market in APAC during the forecast period.
Segment Overview
Based on product, the global Household appliance market is segmented major household appliances and small household appliances.
- The market share growth of the segmented major household appliances will be higher than the other segments during the forecast period. Room comfort and water heater appliances witness high demand, which is mainly propelled by the growing adoption of these products among the millennial population residing in urban areas, which characterizes the modern lifestyle. Major appliances such as refrigerators and washing machines witnessed huge demand across the globe in all regions as they became basic and necessary amenities for every household. Another major trend witnessed in the major household appliances segment is reducing household sizes, which increases the growth potential of built-in appliances. Such factors will increase segment growth during the forecast period.
Global Household appliance market – Market Dynamics
- Impactful Driver - The major product innovations introduced in the market are in terms of technology, performance, features, and design. Customers also seek appliances that are capable of performing multiple tasks with minimal resources. To meet such evolving customer needs, vendors are continuously widening their product portfolio as per the growing and varying consumer demand. In addition, with the growing purchasing power and rising disposable income, customers are gradually increasing their spending on household appliances. This has propelled the demand for premium household appliances and led to the growth of the market. The increased demand for premium household appliances has also fueled the investments by vendors for innovating product raw materials and technologies, which have a positive impact on market growth.
- Key Trend - The growing adoption of smartphones and Internet penetration encourages consumers to use smartphones to control their smart appliances. With the widespread Internet penetration all over the world, related industries that are dependent on the Internet are also experiencing massive growth. This increase in the number of smartphones is making it easier for customers to use smart home appliances. With improved network coverage and innovative technologies like 4G, or LTE, 5G data consumption across the world has increased. Thus, the increase in smartphone and Internet penetration is driving the demand for smart home appliances worldwide, fostering the growth of the market during the forecast period.
- Major Challenge - Appliances that are in constant contact with water, such as refrigerators and washing machines, have associated risks of rusting and are made of stainless steel or high-grade plastic materials that make these appliances lightweight and durable. Vendors are doing in-depth R&D and developing innovative and durable materials to extend the operational life of appliances. The long lifespan of such appliances reduces the frequency of product replacements, thereby adversely affecting the year-over-year growth of the market. The market is majorly characterized by replacement sales. Therefore, the factors mentioned above drive and raise the product lifespan of household appliances, thereby restricting frequent sales of household appliances.
Driver, Trends, & Challenges are the factors of market dynamics, which state about
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What are the key data covered in this household appliance market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the Household appliance market between 2023 and 2027
- Precise estimation of the size of the household appliance market size and its contribution to the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the household appliance market industry across APAC, North America, Europe, Middle East and Africa, and South America
- Thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of household appliance market vendors
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Household appliance market Scope |
|
Report Coverage |
Details |
Page number |
171 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast Period |
2023 -2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.23% |
Market growth 2023-2027 |
USD 120.36 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.36 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing contribution |
APAC at 50% |
Key countries |
US, China, Japan, Germany, and France |
Competitive landscape |
Leading Companies, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
AB Electrolux, Breville USA Inc., Dyson Ltd., Glen Dimplex Group, Groupe SEB, Hamilton Beach Brands Inc., Hisense International Co. Ltd. , Koc Holding AS, LG Electronics Inc., MIDEA Group Co. Ltd., Miele and Cie. KG, MIRC Electronics Ltd., Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., TEKA INDUSTRIAL SA, Transform SR Brands LLC, Whirlpool Corp., Haier Smart Home Co. Ltd., and Hitachi Ltd. |
Market dynamics |
Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Browse for Technavio's Consumer Discretionary Market Reports
Table Of Contents:
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global household appliance market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on Global household appliance market 2017 - 2021 ($ billion)
- 4.2 Product Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ billion)
- 4.3 Distribution channel Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ billion)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Product
- 6.1 Market segments
- Exhibit 30: Chart on Product - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Product - Market share 2022-2027 (%)
- 6.2 Comparison by Product
- Exhibit 32: Chart on Comparison by Product
- Exhibit 33: Data Table on Comparison by Product
- 6.3 Major household appliances - Market size and forecast 2022-2027
- Exhibit 34: Chart on Major household appliances - Market size and forecast 2022-2027 ($ billion)
- Exhibit 35: Data Table on Major household appliances - Market size and forecast 2022-2027 ($ billion)
- Exhibit 36: Chart on Major household appliances - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Major household appliances - Year-over-year growth 2022-2027 (%)
- 6.4 Small household appliances - Market size and forecast 2022-2027
- Exhibit 38: Chart on Small household appliances - Market size and forecast 2022-2027 ($ billion)
- Exhibit 39: Data Table on Small household appliances - Market size and forecast 2022-2027 ($ billion)
- Exhibit 40: Chart on Small household appliances - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Small household appliances - Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Product
- Exhibit 42: Market opportunity by Product ($ billion)
7 Market Segmentation by Distribution Channel
- 7.1 Market segments
- Exhibit 43: Chart on Distribution Channel - Market share 2022-2027 (%)
- Exhibit 44: Data Table on Distribution Channel - Market share 2022-2027 (%)
- 7.2 Comparison by Distribution Channel
- Exhibit 45: Chart on Comparison by Distribution Channel
- Exhibit 46: Data Table on Comparison by Distribution Channel
- 7.3 Offline - Market size and forecast 2022-2027
- Exhibit 47: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
- Exhibit 48: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
- Exhibit 49: Chart on Offline - Year-over-year growth 2022-2027 (%)
- Exhibit 50: Data Table on Offline - Year-over-year growth 2022-2027 (%)
- 7.4 Online - Market size and forecast 2022-2027
- Exhibit 51: Chart on Online - Market size and forecast 2022-2027 ($ billion)
- Exhibit 52: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
- Exhibit 53: Chart on Online - Year-over-year growth 2022-2027 (%)
- Exhibit 54: Data Table on Online - Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by Distribution Channel
- Exhibit 55: Market opportunity by Distribution Channel ($ billion)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 57: Chart on Market share by geography 2022-2027 (%)
- Exhibit 58: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 59: Chart on Geographic comparison
- Exhibit 60: Data Table on Geographic comparison
- 9.3 APAC - Market size and forecast 2022-2027
- Exhibit 61: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
- Exhibit 62: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
- Exhibit 63: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 64: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 9.4 Europe - Market size and forecast 2022-2027
- Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.5 North America - Market size and forecast 2022-2027
- Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.6 South America - Market size and forecast 2022-2027
- Exhibit 73: Chart on South America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 74: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 75: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 76: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 9.7 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
- Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
- Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 9.8 China - Market size and forecast 2022-2027
- Exhibit 81: Chart on China - Market size and forecast 2022-2027 ($ billion)
- Exhibit 82: Data Table on China - Market size and forecast 2022-2027 ($ billion)
- Exhibit 83: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 84: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.9 US - Market size and forecast 2022-2027
- Exhibit 85: Chart on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 86: Data Table on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 87: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 88: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.10 Germany - Market size and forecast 2022-2027
- Exhibit 89: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 90: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 91: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 92: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 9.11 Japan - Market size and forecast 2022-2027
- Exhibit 93: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
- Exhibit 94: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
- Exhibit 95: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 96: Data Table on Japan - Year-over-year growth 2022-2027 (%)
- 9.12 France - Market size and forecast 2022-2027
- Exhibit 97: Chart on France - Market size and forecast 2022-2027 ($ billion)
- Exhibit 98: Data Table on France - Market size and forecast 2022-2027 ($ billion)
- Exhibit 99: Chart on France - Year-over-year growth 2022-2027 (%)
- Exhibit 100: Data Table on France - Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 101: Market opportunity by geography ($ billion)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 102: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 103: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 104: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 105: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 106: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 107: Matrix on vendor position and classification
- 12.3 AB Electrolux
- Exhibit 108: AB Electrolux - Overview
- Exhibit 109: AB Electrolux - Business segments
- Exhibit 110: AB Electrolux - Key news
- Exhibit 111: AB Electrolux - Key offerings
- Exhibit 112: AB Electrolux - Segment focus
- 12.4 Breville USA Inc.
- Exhibit 113: Breville USA Inc. - Overview
- Exhibit 114: Breville USA Inc. - Product / Service
- Exhibit 115: Breville USA Inc. - Key offerings
- 12.5 Dyson Ltd.
- Exhibit 116: Dyson Ltd. - Overview
- Exhibit 117: Dyson Ltd. - Product / Service
- Exhibit 118: Dyson Ltd. - Key offerings
- 12.6 Haier Smart Home Co. Ltd.
- Exhibit 119: Haier Smart Home Co. Ltd. - Overview
- Exhibit 120: Haier Smart Home Co. Ltd. - Business segments
- Exhibit 121: Haier Smart Home Co. Ltd. - Key offerings
- Exhibit 122: Haier Smart Home Co. Ltd. - Segment focus
- 12.7 Hamilton Beach Brands Inc.
- Exhibit 123: Hamilton Beach Brands Inc. - Overview
- Exhibit 124: Hamilton Beach Brands Inc. - Product / Service
- Exhibit 125: Hamilton Beach Brands Inc. - Key news
- Exhibit 126: Hamilton Beach Brands Inc. - Key offerings
- 12.8 Hisense International Co. Ltd.
- Exhibit 127: Hisense International Co. Ltd. - Overview
- Exhibit 128: Hisense International Co. Ltd. - Product / Service
- Exhibit 129: Hisense International Co. Ltd. - Key offerings
- 12.9 Hitachi Ltd.
- Exhibit 130: Hitachi Ltd. - Overview
- Exhibit 131: Hitachi Ltd. - Business segments
- Exhibit 132: Hitachi Ltd. - Key news
- Exhibit 133: Hitachi Ltd. - Key offerings
- Exhibit 134: Hitachi Ltd. - Segment focus
- 12.10 LG Electronics Inc.
- Exhibit 135: LG Electronics Inc. - Overview
- Exhibit 136: LG Electronics Inc. - Business segments
- Exhibit 137: LG Electronics Inc. - Key news
- Exhibit 138: LG Electronics Inc. - Key offerings
- Exhibit 139: LG Electronics Inc. - Segment focus
- 12.11 MIDEA Group Co. Ltd.
- Exhibit 140: MIDEA Group Co. Ltd. - Overview
- Exhibit 141: MIDEA Group Co. Ltd. - Business segments
- Exhibit 142: MIDEA Group Co. Ltd. - Key offerings
- Exhibit 143: MIDEA Group Co. Ltd. - Segment focus
- 12.12 Panasonic Holdings Corp.
- Exhibit 144: Panasonic Holdings Corp. - Overview
- Exhibit 145: Panasonic Holdings Corp. - Business segments
- Exhibit 146: Panasonic Holdings Corp. - Key news
- Exhibit 147: Panasonic Holdings Corp. - Key offerings
- Exhibit 148: Panasonic Holdings Corp. - Segment focus
- 12.13 Robert Bosch GmbH
- Exhibit 149: Robert Bosch GmbH - Overview
- Exhibit 150: Robert Bosch GmbH - Business segments
- Exhibit 151: Robert Bosch GmbH - Key news
- Exhibit 152: Robert Bosch GmbH - Key offerings
- Exhibit 153: Robert Bosch GmbH - Segment focus
- 12.14 Samsung Electronics Co. Ltd.
- Exhibit 154: Samsung Electronics Co. Ltd. - Overview
- Exhibit 155: Samsung Electronics Co. Ltd. - Business segments
- Exhibit 156: Samsung Electronics Co. Ltd. - Key news
- Exhibit 157: Samsung Electronics Co. Ltd. - Key offerings
- Exhibit 158: Samsung Electronics Co. Ltd. - Segment focus
- 12.15 TEKA INDUSTRIAL SA
- Exhibit 159: TEKA INDUSTRIAL SA - Overview
- Exhibit 160: TEKA INDUSTRIAL SA - Product / Service
- Exhibit 161: TEKA INDUSTRIAL SA - Key offerings
- 12.16 Transform SR Brands LLC
- Exhibit 162: Transform SR Brands LLC - Overview
- Exhibit 163: Transform SR Brands LLC - Product / Service
- Exhibit 164: Transform SR Brands LLC - Key offerings
- 12.17 Whirlpool Corp.
- Exhibit 165: Whirlpool Corp. - Overview
- Exhibit 166: Whirlpool Corp. - Business segments
- Exhibit 167: Whirlpool Corp. - Key offerings
- Exhibit 168: Whirlpool Corp. - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 169: Inclusions checklist
- Exhibit 170: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 171: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 172: Research methodology
- Exhibit 173: Validation techniques employed for market sizing
- Exhibit 174: Information sources
- 13.5 List of abbreviations
- Exhibit 175: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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