The global household appliances market size was valued at USD 316.0 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.3% from 2021 to 2028. The market growth can be credited to the increasing use of small appliances across the globe for household purposes. Technological advancements in refrigerators are augmenting the market growth. The growing inclination of U.S. consumers towards small kitchen appliances is refueling the market growth. Moreover, a surge in the adoption of AI-based washing machines is expected to boost the market growth. Rising demand for hair dryers in Asia Pacific is anticipated to boost the market growth. Moreover, the growing demand for drip-free pouring cookers in the U.K. is stimulating the market growth. However, the high purchase costs and complex design of dishwashing machines are affecting the market growth. At present, key players are focusing to provide Alexa voice assistance for dishwashing machines. Hence, the market for household appliance is expected to witness significant growth during the forecast period.
The growing investment by LG Electronics to procure compressor-based smart inverter refrigerators is refueling the market growth. Rapidly growing demand for value-added cookers and ovens, coupled with the increasing need for deep freezers among Indian consumers, is driving the industry.
The Covid-19 pandemic had exposed the weakness of the supply chain of household appliances. The pandemic is strongly affecting the manufacturing industries. Supply chain disruption had occurred owing to the national lockdown imposed by several central authorities across the world. Offline trading had hindered owing to the strict government regulation on the import-export trade and international travel ban activities. The Conference Board (U.S.) had released a report, which reflects the decline statistics of the major household appliances.
Powerful suction and versatile range of cleaning accessories of vacuum cleaners had gained traction during the Covid-19 pandemic. The rising concerns over cordless hair clippers are refueling the market growth. The key players in the market are approaching digital portals to boost the sales of household appliances. Electronic digital portals and government bail-out packages are transforming the trade statistics for household appliances, which, in turn, will boost the market growth.
The major appliances segment held the largest revenue share of over 75.0% in 2020 and is expected to register the highest growth rate over the forecast period. A surge in the adoption of seamless and efficient cooktops in the U.S. and Canada is projected to boost the market growth. Demand for cost-efficient chest freezers in Asia Pacific is further escalating the demand for household appliances. The rising trend to adopt multi air flow cooling refrigerators among the consumers in Saudi Arabia and South Africa will enhance the segment growth during the forecast period. The growth of the major appliances segment can also be credited to the growing demand for QuadWash dishwashers among the consumers in France and Germany.
The small appliances segment is expected to witness significant growth during the forecast period. This can be credited to the rising demand for blended drinks among consumers in Europe. Soaring demand for zoom wheel hair clippers is also propelling the market growth. The growing demand for auto cut-off anti-dry protection electric kettles from consumers in France and Germany is fueling the segment growth. Additionally, a surge in the adoption of heat-resistant microwave ovens among consumers in Central and South America is propelling the market growth.
The offline segment held the largest share of more than 70.0% in 2020. This can be attributed to the growing demand for small appliances from consumers in the U.S. and China. The offline segment consists of domestic household appliances stores, supermarkets and hypermarkets, and mid-scale retail appliances stores. Strong customer relationships and faster response time are expected to refuel the market growth during the forecast period.
Domestic appliances shops are supplying diversified products such as dishwashing machines, cookers and ovens, washing machines, grills and roasters, electric kettles, and many other household appliances. Amendment policies for the offline traders and rising disposable income of the consumers in the developing countries will build the network of household appliances stores. The immediate product offering, reliable communication with local suppliers, and effective aftermarket service are the major factors likely to accelerate the demand for household appliances. Supportive measures are taken by the household appliances distributors to provide marketing campaigns for the domestic suppliers. Healthy relationships among suppliers, distributors, and consumers in the offline trading platform will help in boosting the market growth.
The online segment is projected to register the fastest growth rate during the forecast timeline. This growth is attributed to the increased focus of household appliances manufacturers to adopt the e-commerce methodology. Faster buying process, no reach limitations, agile response to buyers, and affordable advertising and marketing are the prime features of online trading. Mobile trading applications, several payment modes, and flexible shopping hours will contribute to the segment growth.
Asia Pacific held the largest revenue share of over 35.0% in 2020 due to the rising demand for jet spray washing machines from emerging economies, such as China and India. A surge in the adoption of major and small appliances in Japan is anticipated to boost the market growth. Increasing demand for small kitchen appliances is refueling the market growth. Moreover, industrial expansion and the growing production of appliances in China are expected to boost the market growth.
The Middle East and Africa is projected to register the highest CAGR of 7.7% from 2021 to 2028. This can be attributed to the increasing demand for i-wave microwave ovens. The emerging trend in Saudi Arabia to adopt cordless technology-based appliances will drive the market demand. The growing adoption of irons, grills and roasters, and coffee machines in South Africa is estimated to escalate the market growth over the forecast period. Moreover, the rising demand for tempered glass shelves refrigerators in the Middle East countries is anticipated to boost the market growth.
The main focus of the companies is to provide intelligent appliances such as interactive refrigerators, smart ovens, and Wi-Fi coffee makers. The key players are focusing to procure an electric single oven range with an infrared grill. Multiple companies are launching ultra-large washing machines with high-end capacity. Product launches such as French Door Refrigerator with Wi-Fi LCD screen are augmenting the growth of the market. Some prominent players in the global household appliance market include: -
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Report Attribute |
Details |
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Market size value in 2021 |
USD 329.61 billion |
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Revenue forecast in 2028 |
USD 474.24 billion |
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Growth Rate |
CAGR of 5.3% from 2021 to 2028 |
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Base year for estimation |
2020 |
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Historical data |
2017 - 2019 |
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Forecast period |
2021 - 2028 |
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Quantitative units |
Revenue in USD million/billion and CAGR from 2021 to 2028 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Type, distribution channel, region |
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Regional scope |
North America, Europe, Asia Pacific, Central & Central & South America, Middle East & Africa |
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Country scope |
U.S.; Canada; U.K.; Germany; France; China; India; Japan; Brazil; Argentina; Saudi Arabia; South Africa |
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Key companies profiled |
AB Electrolux; Dover Corporation; LG Electronics; Whirlpool Corporation; Samsung; Robert Bosch GmbH; Daihan Scientific; ThermoFisher Scientific; Hitachi Ltd.; Liebherr Group; Dyson; Havells India Ltd.; Bajaj Electricals Ltd.; Weber-Stephen Products LLC; The Middleby Corp. |
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Customization scope |
Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global household appliances market report on the basis of type, distribution channel, and region:
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