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Home Appliance Market Size, Share, Statistics & Trends Analysis Report By Type, By Application, By Region, and Segment Forecasts, 2021-2027
Published Date: August 2021
|
Report Code: QYRE-Auto-1992
Home | Market Reports | Home & Garden | Home Appliances
Global Home Appliance Market Insights Forecast to 2025

Home Appliance Market Size, Share, Statistics & Trends Analysis Report By Type, By Application, By Region, and Segment Forecasts, 2021-2027

Code: QYRE-Auto-1992
Report
August 2021
126 Pages
QYResearch
Region: Global,
Description
Table of Content
Tables & Figures

Home Appliance Market Research 2027

In 2020, the global Home Appliance market size was US$ 92990 million and it is expected to reach US$ 141950 million by the end of 2027, with a CAGR of 6.4% during 2021-2027. The increase in replacement sales in developing regions is expected to boost the home appliance market size. 

home appliance industry

Global home appliances market main players include Koninklijke Philips, SEB, Midea, JS Global, Panasonic, etc., totally accounting for about 26%. North America is the largest market, with a share of about 35%. As for the types of products, it can be divided into small household appliances for personal life, small household appliances for daily use, kitchen catering small appliances and bathroom appliances. Kitchen catering small appliances is the largest segment, holding a share of over 43%. 

What is the Home Appliances Market?

A home appliance is an electrical/mechanical machine that accomplishes some household functions, such as cooking or cleaning. Home appliances can be classified into major appliances, small appliances, and consumer electronics.

Additionally, the home appliances market size is estimated to witness substantial growth over the forecast period due to rising economic conditions and drastically changing customer lifestyles. The tendency of consumers towards eco-friendly and energy-efficient home appliances is also influencing the market growth. Product innovation, new product growth, product differentiation, and incorporation of various value-added features are also expected to accelerate consumer demand for home appliance over the next few years.

home appliance market research

Major home appliances spans a variety of devices comprising refrigeration appliances, home laundry appliances, dishwashing appliances, air-conditioning appliances, large and small cooking appliances.

This study analyzes the market position of the Home Appliance Industry, market size, growth rate, potential trends, market factors, opportunities and challenges, risks and barriers to entry, distribution channels, distributors, and Porter's Five Forces Analysis.

Home Appliances Market Segment Review

The refrigerator segment is expected to hold most of the home appliance market share during the forecast period. This is because the refrigerator has become an important part of the household and is one of the first appliances to be purchased after the household income has reached an acceptable amount.

In terms of sales channels, it is widely used in online sales and offline sales. The most common application is in online sale, taking a share over 78%.

Home Appliances Market Share

Home Appliance Market Regional Analysis

North America holds the largest home appliance market share in terms of region. The North American market for home appliances has strong product penetration and is controlled by product substitution.

Due to the growth of the European economy, the market is experiencing an increase in demand for premium built-in or integrated appliances such as ovens, integrated steam feature, versatile induction hobs, integrated hob extractors, and built-in dishwashers, among others. Furthermore, factors such as government policies for energy-efficient appliances in the U.S. and other EU countries are expected to promote the adoption of energy-efficient home appliances.

Asia-Pacific home appliances market is expected to see the highest growth during the forecast period due to an increase in household income, rapid urbanization, increase in the middle-class population, easy access to products through the expansion of retail networks, easy access to consumer finance and a shift in people's lifestyles.

Report Metric

Details

Report Name

Home Appliance Market

The market size value in 2020

92990 Million

The revenue forecast in 2027

141950 Million

Forecast Period 2021 to 2027 CAGR

6.4%

Base year considered

2020

Historical Data for

2021-2027

Forecast units

Value (USD)

Segments covered

Type, End-User, Offerings, and Region

Market BY Type

Refrigerators, Washing Machines, Air Conditioner, Kitchen Appliances, Others

Market BY Application/End-User

Offline Sales, Online Sales

Report coverage

Revenue & volume forecast, company share, competitive landscape, growth factors, and trends

Geographic regions covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Top Major key players in the Home Appliance Market

  • Haier
  • Whirlpool
  • Midea
  • Panasonic
  • Arcelik
  • SAMSUNG
  • SONY
  • LG
  • BSH
  • Hisense
  • Electrolux
  • Philips
  • Gree
  • TCL
  • Changhong
  • SKYWORTH
  • Meling
  • Bosch

Home Appliance Market Segments

Home Appliance Market by Type

  • Refrigerators
  • Washing Machines
  • Air Conditioner
  • Kitchen Appliances
  • Others

Home Appliance Market by Application

  • Offline Sales
  • Online Sales

Frequently Asked Questions About This Report

1. How big is the home appliance market?

Ans. In 2020, the global home appliance market size was US$ 92990 million and it is expected to reach US$ 141950 million by the end of 2027, with a CAGR of 6.4% during 2021-2027.

2. Which region dominated in the global home appliance market share?

Ans. North America is the largest home appliances market, with a share of about 35%.

3. What are the market drivers in the global home appliance market?

Ans. The increase in replacement sales in developing regions is expected to boost the home appliance market size.

4. Who are the leading players in the home appliance market?

Ans. Global home appliance market main players include Koninklijke Philips, SEB, Midea, JS Global, Panasonic, etc., totally accounting for about 26%.

5. What would be the forecast period in the home appliance market report?

Ans. The forecast period for home appliance market is 2021 to 2027.

TABLE OF CONTENT

 

LIST OF TABLES & FIGURES

 

 

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