Household Appliance Market to Grow by USD 124.1 Billion (2025-2029),Product Innovation and Advancement Driving Portfolio Expansion and Premiumization, Report with the AI Impact on Market Trends - Technavio

NEW YORK, Jan. 31, 2025 /PRNewswire/ -- Report on how AI is redefining market landscape - The global household appliance market size is estimated to grow by USD 124.1 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of over 5% during the forecast period. Product innovation and advancement leading to portfolio extension and product premiumization is driving market growth, with a trend towards increased adoption of multi- and advanced products. However, fluctuations in raw material prices and operational costs poses a challenge. Key market players include Arcelik A.S., Breville Group Ltd., BSH Hausgerate GmbH, Dyson Group Co., Electrolux group, Glen Dimplex Group., Gorenje Group, Haier Smart Home Co. Ltd., Hamilton Beach Brands Holding Co., LG Corp., MIDEA Group Co. Ltd., Miele and Cie. KG, MIRC Electronics Ltd., Panasonic Holdings Corp., Samsung Electronics Co. Ltd., SEB Developpement SA, TEKA INDUSTRIAL SA, Transform Holdco LLC, and Whirlpool Corp..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

Market Driver

Household appliance market is witnessing significant growth due to changing consumer lifestyle and rising disposable income. Novel technologies like AR/VR, artificial intelligence, and the Internet of Things are transforming traditional appliances into smart devices. Energy efficiency and energy optimization are key trends, with the selection of energy-efficient appliances increasing. Bluetooth, Wi-Fi, and wireless technologies enable remote control and home automation. Product innovation includes robotics, smart sensors, and cloud technology in appliances like refrigerators, air conditioners, and washing machines. E-commerce platforms facilitate online sales, but supply chain disruptions can impact availability. Sustainability is a priority, with an emphasis on eco-friendly and technologically advanced appliances like food processors, grills, and vacuum cleaners. Regulations and international standards, such as those set by the International Telecommunication Union, influence market trends. Consumer spending on household appliances continues to rise in nuclear families, single-person households, and sedentary lifestyles. 

The household appliance market is witnessing a significant trend towards multifunctional products. Consumers are seeking innovative and advanced appliances that can address multiple household applications. Vendors are responding to this demand by offering multifunctional appliances, which provide good value for money. These appliances may be priced higher than traditional appliances, but they offer a high return on investment due to their multiple functions. Multifunctional appliances save time, resources, and eliminate the need to purchase multiple appliances for various applications. They also save space, money, and effort on operations, making them a convenient and cost-effective solution for households. Overall, the market for multifunctional household appliances is growing rapidly as consumers recognize the benefits they offer. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

Market Challenges

• The Household Appliance Market is experiencing significant changes due to novel technologies like AR/VR, artificial intelligence, and the Internet of Things. Consumer lifestyle shifts, such as rising disposable income and the trend towards smaller households, are driving demand for energy-efficient and technologically advanced appliances. Regulations and sustainability concerns are pushing manufacturers to innovate in areas like energy optimization and smart sensors. E-commerce platforms and wireless technologies, including Bluetooth and Wi-Fi, are revolutionizing the way consumers select and purchase appliances. Supply chain disruptions and changing consumer preferences for do-it-yourself pursuits also pose challenges. Product categories like kitchen appliances (microwaves, dishwashers, ovens), cleaning appliances (vacuum cleaners, air purifiers), and food processors (blenders, mixers, juicers) are seeing particular growth. Smart appliances and smart homes are becoming increasingly popular, with robotics and home automation adding to the excitement. Overall, the market is adapting to meet the evolving needs of consumers while navigating the complexities of regulations and technological advancements.
• The household appliance market is influenced by several cost factors. Manufacturing costs, labor costs, and raw material prices significantly impact the final product price. Fluctuations in raw material prices directly affect the profitability of manufacturers. The production of appliances involves the use of various raw materials like steel, iron, plastic, glass, electronic components, petroleum products, and paints. The prices of these materials can change frequently due to international market trends. Procurement of these raw materials includes additional costs such as transportation and logistics, supplier constraints, and delivery delays. Therefore, managing these costs effectively is crucial for maintaining competitiveness in the household appliance market.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview

This household appliance market report extensively covers market segmentation by

• Product
• MHA
• Small Household Appliances
• Distribution Channel
• Offline
• Online
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

1.1 MHA- The Major Household Appliance (MHA) market is the largest contributor to the global household appliance industry. This segment encompasses refrigeration and cooling appliances, large cooking appliances, washing appliances, room comfort appliances, and water heater appliances. In the Asia Pacific region, sales of refrigerators, air conditioners, and washing machines have seen significant growth due to rising disposable income, changing lifestyles, and urbanization. The demand for these appliances has been stagnant in North America and Europe due to market maturity. However, large cooking appliances, water heating appliances, and dishwashers have witnessed high demand in these regions due to modern lifestyles. Replacement sales are a key trend in the MHA market, particularly in North America and Western European countries. The market is also witnessing a shift towards built-in appliances, with dishwashers and refrigerators seeing increased sales in this category. Consumer preference is moving towards water- and energy-efficient products. The key countries driving the MHA market are China, Japan, the UK, and the US. Refrigeration appliances, air conditioners, and washing machines are the major contributors to the market, having become essential amenities for every household. The trend of reducing household sizes is increasing the growth potential of built-in appliances. Key players in the market are focusing on expanding their presence in Eastern European countries to drive sales growth in the region.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

The household appliance market is experiencing significant growth due to the increasing adoption of smart technologies, rising consumer disposable income, and improving living standards. Product innovation is at the forefront of this trend, with energy efficiency and sustainability being key focus areas. Smart appliances, such as Wi-Fi and Bluetooth-enabled dishwashers, microwaves, air conditioners, dryers, toasters, blenders, juicers, kettles, mixers, stoves, freezers, and humidifiers, are becoming increasingly popular. These technologically advanced appliances offer energy optimization, cloud technology, and artificial intelligence capabilities, making household chores more convenient and efficient. Novel technologies like AR/VR and energy-efficient appliances are also gaining traction. However, supply chain disruptions and regulations pose challenges to market growth. Do-it-yourself pursuits, single-person households, and the rise of smart homes are other factors influencing the market. E-commerce channels are increasingly becoming the preferred distribution method for these appliances, catering to changing consumer lifestyles and sedentary habits.

Market Research Overview

The Household Appliance Market is experiencing significant growth due to the changing consumer lifestyle and rising disposable income. Novel technologies such as Artificial Intelligence (AI), AR/VR, and the Internet of Things (IoT) are revolutionizing the industry, making appliances more energy-efficient, intelligent, and convenient. Smart Appliances and Smart Homes are becoming increasingly popular, with Wi-Fi and Bluetooth connectivity enabling remote control and automation. Product Innovation is at the forefront, with technologically advanced appliances such as energy-efficient refrigerators, microwaves, washing machines, dishwashers, vacuum cleaners, and air conditioners, among others, leading the way. Sustainability is also a key factor, with a focus on energy optimization and eco-friendly materials. The market is also being influenced by regulations, supply chain disruptions, and the increasing popularity of single-person households and nuclear families. E-commerce platforms are making it easier for consumers to purchase appliances online, and the addition of home automation and smart sensors is further enhancing the user experience. Overall, the Household Appliance Market is poised for continued growth, driven by consumer spending on improving living standards and the selection of technologically advanced appliances.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Product
• MHA
• Small Household Appliances
• Distribution Channel
• Offline
• Online
• Geography
• APAC
• Europe
• North America
• South America
• Middle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides 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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio