US Home Appliances Market Size, Analysis, & Forecast 2031
US Home Appliances Market Size, Analysis, & Forecast 2031
Segments - US Home Appliances Market by Types (Washing Machines, Ovens, Air Conditioners, Dishwashing Machines, Refrigerators, and Others), Small Appliances (Hair Dryers, Toasters, Irons, Small Kitchen Appliances, Hair Clippers, Grills & Roasters, Vacuum Cleaners, and Others)Distribution (Online, Multi-brand Stores Exclusive Stores, and Other), and Country (United States) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 - 2031
Upcoming
| Report ID :CG-2415
| 4.9 Rating
| 73 Reviews
| 210 Pages
| Format :
Report Description
US Home Appliances Market Outlook 2031:
The US home appliances market size was valued at USD 55.34 Billion in 2022 and is projected to reach USD 99.20 Billion by 2031, expanding at a CAGR of 6.7% during the forecast period 2023 - 2031. Growth of the market is attributed to the increasing urbanization, growing working population, and emerging demand for smart appliances.
A home appliance is also known as an electric appliance, household appliance, and domestic appliance. A home appliance is a machine which helps in household work such as cleaning, food preservation, and cooking.
The Covid-19 pandemic affected the demand and supply of US home appliances market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
US Home Appliances Market Trends, Drivers, Restraints, and Opportunities
- Increasing consumer purchasing capacity and rapidly growing population is projected to boost the market in the coming years.
- Emerging demand for smart appliances is major factor fueling the market during the forecast period.
- Increasing on-demand laundry services is anticipated to hamper the market growth.
- High maintenance cost is projected to hamper the market growth in the coming years.
- R&D investment and technological advancement in home appliances is projected to create lucrative opportunities for the market players.
Scope of Home Appliances Market Report
The report on the US home appliances market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes |
Details |
|
Report Title |
US Home Appliances Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast |
|
Base Year |
2022 |
|
Historic Data |
2016–2021 |
|
Forecast Period |
2023–2031 |
|
Segmentation |
Types (Washing Machines, Ovens, Air Conditioners, Dishwashing Machines, Refrigerators, and Others), Small Appliances (Hair Dryers, Toasters, Irons, Small Kitchen Appliances, Hair Clippers, Grills & Roasters, Vacuum Cleaners, and Others)Distribution (Online, Multi-brand Stores Exclusive Stores, and Other) |
|
Country Scope |
United States |
|
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
|
Key Players Covered in the Report |
Whirlpool Corporation; LG Electronics; Electrolux; Samsung; Haier |
Home Appliances Market Segment Insights
The refrigerators segment accounts for key share of the market
Based on types, the US home appliances market is segregated into washing machines, ovens, air conditioners, dishwashing machines, refrigerators, and others. The refrigerator segment accounts for a key share of the market. Growth of the market is attributed to increasing living standards of consumers and rising awareness about advantages of home appliances.
The refrigerators segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rising disposable income and changing customers focus on energy-efficient product.
The small kitchen appliances segment accounts for a major share of the market
On the basis of small appliances, the US home appliances market is fragmented into hair dryers, toasters, irons, small kitchen appliances, hair clippers, grills & roasters, vacuum cleaners, and others.
The small kitchen appliances segment is anticipated to hold a major market share during the forecast period. Growth of the market is attributed to increasing demand for advanced & innovative products. However, the toasters segment is anticipated to expand at a rapid pace during the forecast period due to factors such as introduction of smart meters.
The online segment is estimated to hold a major share of the market
On the basis of distribution, the US home appliances market is segregated into online, multi-brand Stores, Exclusive Stores, and Other. The online segment accounts for a key share of the market.
Growth of the market is attributed to increasing investment by emerging countries and rising demand for washing machines. The exclusive store segment is anticipated to expand at a rapid pace during the forecast period due to factors such as changing consumer preference and rising economies.
Segments
The US home appliances market is segmented on the basis of
Types
- Washing Machines
- Ovens
- Air Conditioners
- Dishwashing Machines
- Refrigerators
- Others
Small Appliances
- Hair Dryers
- Toasters
- Irons
- Small Kitchen Appliances
- Hair Clippers
- Grills & Roasters
- Vacuum Cleaners
- Others
Distribution
- Online
- Multi-brand Stores
- Exclusive Stores
- Other
Country
-
United States
Key Players
- Whirlpool Corporation
- LG Electronics
- Electrolux
- Samsung
- Haier
Competitive Landscape
The major players in the US home appliances market include Whirlpool Corporation, LG Electronics, Electrolux, Samsung, and Haier.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and raise their production line of the business in the coming years.
Frequently Asked Questions
Opportunities include R&D investment, technological advancements, and the introduction of innovative and smart home appliances.
Challenges include increasing on-demand laundry services, high maintenance costs, and supply chain disruptions.
Major companies covered in the report include Whirlpool Corporation, LG Electronics, Electrolux, Samsung, and Haier.
The online segment is estimated to hold a major share of the market, with exclusive stores also expected to grow rapidly due to changing consumer preferences.
The market is segmented by types (washing machines, ovens, air conditioners, dishwashing machines, refrigerators, and others), small appliances (hair dryers, toasters, irons, small kitchen appliances, hair clippers, grills & roasters, vacuum cleaners, and others), and distribution channels (online, multi-brand stores, exclusive stores, and others).
The refrigerators segment holds a key share of the market, driven by rising living standards, increased disposable income, and a focus on energy-efficient products.
The Covid-19 pandemic caused supply chain disruptions, production shutdowns, and a temporary decline in market growth, but the launch of vaccines is expected to support recovery and future growth.
Key growth drivers include increasing urbanization, a growing working population, rising consumer purchasing capacity, and emerging demand for smart appliances.
The US home appliances market is expected to reach USD 99.20 billion by 2031, growing at a CAGR of 6.7% from 2023 to 2031.
The US home appliances market was valued at USD 55.34 billion in 2022.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Home Appliances Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Home Appliances Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Home Appliances Market - Supply Chain
4.5. Global Home Appliances Market Forecast
4.5.1. Home Appliances Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Home Appliances Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Home Appliances Market Absolute $ Opportunity
5. Global Home Appliances Market Analysis and Forecast by Region
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Region
5.2.2. Y-o-Y Growth Projections by Region
5.3. Home Appliances Market Size and Volume Forecast by Region
5.3.1. North America
5.3.2. Latin America
5.3.3. Europe
5.3.4. Asia Pacific
5.3.5. Middle East and Africa (MEA)
5.4. Absolute $ Opportunity Assessment by Region
5.5. Market Attractiveness/Growth Potential Analysis by Region
5.6. Global Home Appliances Demand Share Forecast, 2019-2026
6. North America Home Appliances Market Analysis and Forecast
6.1. Introduction
6.1.1. Basis Point Share (BPS) Analysis by Country
6.1.2. Y-o-Y Growth Projections by Country
6.2. North America Home Appliances Market Size and Volume Forecast by Country
6.2.1. U.S.
6.2.2. Canada
6.3. Absolute $ Opportunity Assessment by Country
6.4. Market Attractiveness/Growth Potential Analysis
6.4.1. By Country
6.4.2. By Product Type
6.4.3. By Application
6.5. North America Home Appliances Demand Share Forecast, 2019-2026
7. Latin America Home Appliances Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.1.3. Latin America Average Pricing Analysis
7.2. Latin America Home Appliances Market Size and Volume Forecast by Country
7.2.1. Brazil
7.2.2. Mexico
7.2.3. Rest of Latin America
7.3. Absolute $ Opportunity Assessment by Country
7.4. Market Attractiveness/Growth Potential Analysis
7.4.1. By Country
7.4.2. By Product Type
7.4.3. By Application
7.5. Latin America Home Appliances Demand Share Forecast, 2019-2026
8. Europe Home Appliances Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Europe Average Pricing Analysis
8.2. Europe Home Appliances Market Size and Volume Forecast by Country
8.2.1. Germany
8.2.2. France
8.2.3. Italy
8.2.4. U.K.
8.2.5. Spain
8.2.6. Russia
8.2.7. Rest of Europe
8.3. Absolute $ Opportunity Assessment by Country
8.4. Market Attractiveness/Growth Potential Analysis
8.4.1. By Country
8.4.2. By Product Type
8.4.3. By Application
8.5. Europe Home Appliances Demand Share Forecast, 2019-2026
9. Asia Pacific Home Appliances Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Asia Pacific Average Pricing Analysis
9.2. Asia Pacific Home Appliances Market Size and Volume Forecast by Country
9.2.1. China
9.2.2. Japan
9.2.3. South Korea
9.2.4. India
9.2.5. Australia
9.2.6. Rest of Asia Pacific (APAC)
9.3. Absolute $ Opportunity Assessment by Country
9.4. Market Attractiveness/Growth Potential Analysis
9.4.1. By Country
9.4.2. By Product Type
9.4.3. By Application
9.5. Asia Pacific Home Appliances Demand Share Forecast, 2019-2026
10. Middle East & Africa Home Appliances Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Middle East & Africa Average Pricing Analysis
10.2. Middle East & Africa Home Appliances Market Size and Volume Forecast by Country
10.2.1. Saudi Arabia
10.2.2. South Africa
10.2.3. UAE
10.2.4. Rest of Middle East & Africa (MEA)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Market Attractiveness/Growth Potential Analysis
10.4.1. By Country
10.4.2. By Product Type
10.4.3. By Application
10.5. Middle East & Africa Home Appliances Demand Share Forecast, 2019-2026
11. Competition Landscape
11.1. Global Home Appliances Market: Market Share Analysis
11.2. Home Appliances Distributors and Customers
11.3. Home Appliances Market: Competitive Dashboard
11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
Methodology
Related Reports
Some other reports from this category!
Our Clients
