Global Household Appliances Market

Household Appliances Market Size, Share, Growth Analysis, By Type(Major Appliances, Small Appliances and Smart Home Appliances), By Distribution Channel(Supermarkets & Hypermarkets, Specialty Stores) - Industry Forecast 2024-2031

Report ID: SQMIG25H2027 | Region: Global | Published Date: March, 2024
Pages: 223 | Tables: 63 | Figures: 65

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Household Appliances Market size was valued at USD 684 billion in 2022 and is poised to grow from USD 722.10 billion in 2023 to USD 1114.09 billion by 2031, growing at a CAGR of 5.57% in the forecast period (2024-2031).

The competitive landscape of the household appliances market is characterized by intense rivalry, technological innovation, and shifting consumer preferences. Established industry giants and nimble startups vie for market share in a rapidly evolving ecosystem. 'Samsung Electronics Co., Ltd. (South Korea)', 'Whirlpool Corporation (United States)', 'LG Electronics Inc. (South Korea)', 'Haier Group Corporation (China)', 'Electrolux AB (Sweden)', 'BSH Hausgeräte GmbH (Germany)', 'Panasonic Corporation (Japan)', 'Midea Group Co., Ltd. (China)', 'Toshiba Corporation (Japan)', 'Groupe SEB (France)'

Busy lifestyles and dual-income households drive demand for time-saving and convenient appliances, such as robotic vacuum cleaners, smart ovens, and voice-controlled devices.

Smart Connectivity: Increasing integration of household appliances with smart technologies and the Internet of Things (IoT) is a dominant trend. Consumers seek appliances that can be controlled remotely, offer automation, and provide real-time data monitoring.

North America is predominantly propelled by the substantial inflow of diverse appliances, including refrigerators and washing machines, into the U.S. and Canada, thereby bolstering appliance consumption rates. As the world's largest regional economy, North America is projected to maintain its pivotal role in the economy, particularly in spearheading new technological developments. The region benefits from robust consumer purchasing power, an escalating adoption of intelligent devices, and significant consumer interest in connected home appliances. This synergy is expected to accelerate the uptake of IoT-based appliances.

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Global Household Appliances Market

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