0

Household Appliance Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2021-2025

  • Published: Aug 2021
  • Pages: 120
  • SKU: IRTNTR44899
Technavio

Enjoy complimentary customisation on priority with our Enterprise License!

Safe and Secure SSL Encrypted

info
close
  • Single User:

    Quick and easy buy and download option

  • Enterprise:

    Flexible option - Complimentary customization included

2500 USD

The household appliance market share is expected to increase by USD 89.50 billion from 2020 to 2025, and the market's growth momentum will decelerate at a CAGR of 4%.

This household appliance market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers household appliance market segmentation by product (major household appliances and small household appliances), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and MEA). The household appliance market report also offers information on several market vendors, including AB Electrolux, Haier Smart Home Co. Ltd., Hitachi Ltd., LG Electronics Inc., MIDEA GROUP, Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Transform SR Brands LLC, and Whirlpool Corp. among others.

What will the Household Appliance Market Size be During the Forecast Period?

Household Appliance Market Size

Download the Free Report Sample to Unlock the Household Appliance Market Size for the Forecast Period and Other Important Statistics

 

Household Appliance Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a negative impact on the market growth during and post-COVID-19 era. The product innovation and advancement leading to portfolio extension and product premiumization are notably driving the household durables market growth, although factors such as fluctuations in raw material prices and operational costs may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the household appliance industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Household Appliance Market Driver

One of the key factors driving growth in the household appliance market is product innovation and advancement leading to portfolio extension and product premiumization. The competition in the global household appliance market is getting more intense over the years. This has compelled the vendors operating in the global household appliance market to continually engage in R&D and innovation to sustain themselves in the competitive market environment. With the growing purchasing power and rising disposable income, customers are gradually increasing their spending on household appliances. This has propelled the demand for premium household appliances and led to the growth of the global household appliance market. The increased demand for premium household appliances has also fueled the investments by vendors for innovating product raw materials and technologies, which have a positive impact on the performance of appliances and reforming the interior aesthetic appeal of households. This growth in the product premiumization and product line extension, coupled with the growing customer expenditure on household appliances, will drive the value sales in the global household appliance market.

Key Household Appliance Market Trend

The increased adoption of multi-functional and advanced products is another factor supporting the household appliance market share growth. Multi-functional products offered in the market can address more than one household application, thereby providing good value for money. The multifunctional household appliances are priced higher than other household appliances, but consumers are increasingly seeking multi-functional household appliances, as they give a high return on investment over conventional household appliances. Multi-functional products are perceived to save time and resources for customers. They also eliminate the need to purchase different products for various applications. To address the growing demand for multi-functional household appliances, vendors are continuously innovating to remain competitive, high customer attention, expand the customer base, and generate demand for products. An increase in the number of such multifunctional offerings in the global household appliance market drives the adoption of such products.

Key Household Appliance Market Challenge

The fluctuations in raw material prices and operational costs will be a major challenge for the household appliance market during the forecast period. The market price of appliances depends on various factors such as manufacturing costs, labor costs, prices of raw materials, transportation, and marketing costs. Fluctuations in prices of raw materials directly impact the price of products or the profit margins of manufacturers. The procurement of raw materials includes add-on costs such as transportation and other necessary services, constraints of suppliers, and the inability to maintain favorable arrangements with suppliers for adequate and timely delivery of raw materials. Fluctuation in prices of petroleum affects the transportation costs of raw materials and that of the final products. The market is competitive and has the presence of several international and local vendors. The market also has counterfeit products. Such factors restrict vendors from increasing the prices of end-products as it has an associated risk of decline in the consumer base. Hence, vendors usually reduce their profit margins, thereby affecting operational costs and R&D. Therefore, fluctuating prices of raw materials pose a challenge to manufacturers operating in the global household appliance market to produce efficient and innovative household appliances at affordable prices.

This household appliance market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global household appliance market as a part of the global household durables market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the household appliance market during the forecast period.

Who are the Major Household Appliance Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • AB Electrolux
  • Haier Smart Home Co. Ltd.
  • Hitachi Ltd.
  • LG Electronics Inc.
  • MIDEA GROUP
  • Panasonic Corp.
  • Robert Bosch GmbH
  • Samsung Electronics Co. Ltd.
  • Transform SR Brands LLC
  • Whirlpool Corp.

 

This statistical study of the household appliance market encompasses successful business strategies deployed by the key vendors. The household appliance market is fragmented and the vendors are deploying growth strategies such as emphasizing technology for innovating products to compete in the market.

Product Insights and News

  • AB Electrolux - Household Appliance The company offers household appliances such as wall ovens, microwaves, dishwashers, refrigerators, and more.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The household appliance market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Household Appliance Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the household appliance market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the household durables market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Household Appliance Market?

Household Appliance Market Market segmentation by region

For more insights on the market share of various regions Request a FREE sample now!

53% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for household appliances in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The growing middle-class population and their rising income, which empowered their spending power on household needs and appliances will facilitate the household appliance market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The COVID-19 outbreak resulted in slow growth in the household appliance market in the region. The outbreak severely impacted countries like China and India. The imposition of lockdowns to contain the spread of the disease resulted in non-essential services being postponed, and this led to the closure of shops and manufacturing facilities. With social distancing guidelines and the closing of stores, very few people were buying household appliances. Thus, the market witnessed a decline in growth in 2020, which will result in slow growth during the forecast period.

What are the Revenue-generating Product Segments in the Household Appliance Market?

Household Appliance Market Segmentation

To gain further insights on the market contribution of various segments Request a FREE sample

The household appliance market share growth in the major household appliances segment will be significant during the forecast period. Appliances such as refrigerators, air conditioners, and washing appliances witnessed the highest sales in APAC owing to the growing disposable income and changing lifestyle of the population coupled with rising urbanization. These factors led to an increase in awareness about these appliances among people and enabled them to spend on them. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the household appliance market size and actionable market insights on post COVID-19 impact on each segment.

 

Household Appliance Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 4%

Market growth 2021-2025

USD 89.50 billion

Market structure

Fragmented

YoY growth (%)

21.36

Regional analysis

APAC, Europe, North America, South America, and MEA

Performing market contribution

APAC at 53%

Key consumer countries

China, the US, Japan, Germany, and France

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

AB Electrolux, Haier Smart Home Co. Ltd., Hitachi Ltd., LG Electronics Inc., MIDEA GROUP, Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Transform SR Brands LLC, and Whirlpool Corp.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Request for a FREE sample

What are the Key Data Covered in this Household Appliance Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive household appliance market growth during the next five years
  • Precise estimation of the household appliance market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the household appliance industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of household appliance market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Household durables

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ billion)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces analysis 2020 & 2025
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by Product

    • 5.1 Market segments
      • Exhibit 15: Product - Market share 2020-2025 (%)
    • 5.2 Comparison by Product
      • Exhibit 16: Comparison by Product
    • 5.3 Major household appliances - Market size and forecast 2020-2025
      • Exhibit 17: Major household appliances - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 18: Major household appliances - Year-over-year growth 2020-2025 (%)
    • 5.4 Small household appliances - Market size and forecast 2020-2025
      • Exhibit 19: Small household appliances - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 20: Small household appliances - Year-over-year growth 2020-2025 (%)
    • 5.5 Market opportunity by Product
      • Exhibit 21: Market opportunity by Product

    6 Market Segmentation by Distribution channel

    • 6.1 Market segments
      • Exhibit 22: Distribution channel - Market share 2020-2025 (%)
    • 6.2 Comparison by Distribution channel
      • Exhibit 23: Comparison by Distribution channel
    • 6.3 Offline - Market size and forecast 2020-2025
      • Exhibit 24: Offline - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 25: Offline - Year-over-year growth 2020-2025 (%)
    • 6.4 Online - Market size and forecast 2020-2025
      • Exhibit 26: Online - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 27: Online - Year-over-year growth 2020-2025 (%)
    • 6.5 Market opportunity by Distribution channel
      • Exhibit 28: Market opportunity by Distribution channel

    7 Customer landscape

    8 Geographic Landscape

    • 8.1 Geographic segmentation
      • Exhibit 30: Market share by geography 2020-2025 (%)
    • 8.2 Geographic comparison
      • Exhibit 31: Geographic comparison
    • 8.3 APAC - Market size and forecast 2020-2025
      • Exhibit 32: APAC - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 33: APAC - Year-over-year growth 2020-2025 (%)
    • 8.4 Europe - Market size and forecast 2020-2025
      • Exhibit 34: Europe - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 35: Europe - Year-over-year growth 2020-2025 (%)
    • 8.5 North America - Market size and forecast 2020-2025
      • Exhibit 36: North America - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 37: North America - Year-over-year growth 2020-2025 (%)
    • 8.6 South America - Market size and forecast 2020-2025
      • Exhibit 38: South America - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 39: South America - Year-over-year growth 2020-2025 (%)
    • 8.7 MEA - Market size and forecast 2020-2025
      • Exhibit 40: MEA - Market size and forecast 2020-2025 ($ billion)
      • Exhibit 41: MEA - Year-over-year growth 2020-2025 (%)
    • 8.8 Key leading countries
      • Exhibit 42: Key leading countries
    • 8.9 Market opportunity by geography
      • Exhibit 43: Market opportunity by geography ($ billion)

    9 Drivers, Challenges, and Trends

    • 9.1 Market drivers
      • 9.2 Market challenges
        • 9.3 Market trends

          10 Vendor Landscape

          • 10.1 Overview
            • Exhibit 45: Vendor landscape
          • 10.2 Landscape disruption
            • Exhibit 46: Landscape disruption
            • Exhibit 47: Industry risks

          11 Vendor Analysis

          • 11.1 Vendors covered
            • Exhibit 48: Vendors covered
          • 11.2 Market positioning of vendors
            • Exhibit 49: Market positioning of vendors
          • 11.3 AB Electrolux
            • Exhibit 50: AB Electrolux - Overview
            • Exhibit 51: AB Electrolux - Business segments
            • Exhibit 52: AB Electrolux - Key news
            • Exhibit 53: AB Electrolux - Key offerings
            • Exhibit 54: AB Electrolux - Segment focus
          • 11.4 Haier Smart Home Co. Ltd.
            • Exhibit 55: Haier Smart Home Co. Ltd. - Overview
            • Exhibit 56: Haier Smart Home Co. Ltd. - Business segments
            • Exhibit 57: Haier Smart Home Co. Ltd. - Key offerings
            • Exhibit 58: Haier Smart Home Co. Ltd. - Segment focus
          • 11.5 Hitachi Ltd.
            • Exhibit 59: Hitachi Ltd. - Overview
            • Exhibit 60: Hitachi Ltd. - Business segments
            • Exhibit 61: ?Hitachi Ltd. - Key news
            • Exhibit 62: Hitachi Ltd. - Key offerings
            • Exhibit 63: Hitachi Ltd. - Segment focus
          • 11.6 LG Electronics Inc.
            • Exhibit 64: LG Electronics Inc. - Overview
            • Exhibit 65: LG Electronics Inc. - Business segments
            • Exhibit 66: LG Electronics Inc. - Key news
            • Exhibit 67: LG Electronics Inc. - Key offerings
            • Exhibit 68: LG Electronics Inc. - Segment focus
          • 11.7 MIDEA GROUP
            • Exhibit 69: MIDEA GROUP - Overview
            • Exhibit 70: MIDEA GROUP - Business segments
            • Exhibit 71: MIDEA GROUP - Key offerings
            • Exhibit 72: MIDEA GROUP - Segment focus
          • 11.8 Panasonic Corp.
            • Exhibit 73: Panasonic Corp. - Overview
            • Exhibit 74: Panasonic Corp. - Business segments
            • Exhibit 75: ?Panasonic Corp. - Key news
            • Exhibit 76: Panasonic Corp. - Key offerings
            • Exhibit 77: Panasonic Corp. - Segment focus
          • 11.9 Robert Bosch GmbH
            • Exhibit 78: Robert Bosch GmbH - Overview
            • Exhibit 79: Robert Bosch GmbH - Business segments
            • Exhibit 80: ?Robert Bosch GmbH - Key news
            • Exhibit 81: Robert Bosch GmbH - Key offerings
            • Exhibit 82: Robert Bosch GmbH - Segment focus
          • 11.10 Samsung Electronics Co. Ltd.
            • Exhibit 83: Samsung Electronics Co. Ltd. - Overview
            • Exhibit 84: Samsung Electronics Co. Ltd. - Business segments
            • Exhibit 85: Samsung Electronics Co. Ltd. - Key offerings
            • Exhibit 86: Samsung Electronics Co. Ltd. - Segment focus
          • 11.11 Transform SR Brands LLC
            • Exhibit 87: Transform SR Brands LLC - Overview
            • Exhibit 88: Transform SR Brands LLC - Product and service
            • Exhibit 89: Transform SR Brands LLC - Key offerings
          • 11.12 Whirlpool Corp.
            • Exhibit 90: Whirlpool Corp. - Overview
            • Exhibit 91: Whirlpool Corp. - Business segments
            • Exhibit 92: Whirlpool Corp. - Key offerings
            • Exhibit 93: Whirlpool Corp. - Segment focus

          12 Appendix

          • 12.1 Scope of the report
            • 12.2 Currency conversion rates for US$
              • Exhibit 94: Currency conversion rates for US$
            • 12.3 Research methodology
              • Exhibit 95: Research Methodology
              • Exhibit 96: Validation techniques employed for market sizing
              • Exhibit 97: Information sources
            • 12.4 List of abbreviations
              • Exhibit 98: List of abbreviations

            Research Framework

            Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

            TechnavioINFORMATION SOURCES

            Primary sources

            • Manufacturers and suppliers
            • Channel partners
            • Industry experts
            • Strategic decision makers

            Secondary sources

            • Industry journals and periodicals
            • Government data
            • Financial reports of key industry players
            • Historical data
            • Press releases
            Technavio

            TechnavioDATA ANALYSIS

            Data Synthesis

            • Collation of data
            • Estimation of key figures
            • Analysis of derived insights

            Data Validation

            • Triangulation with data models
            • Reference against proprietary databases
            • Corroboration with industry experts
            Technavio

            TechnavioREPORT WRITING

            Qualitative

            • Market drivers
            • Market challenges
            • Market trends
            • Five forces analysis

            Quantitative

            • Market size and forecast
            • Market segmentation
            • Geographical insights
            • Competitive landscape
            Interested in this report?
            Get your sample now!
            Household Appliance Market market growth will increase by $89.5 billion during 2021-2025.
            The household appliance market market is expected to grow at a CAGR of 4.44% during 2021-2025.
            Technavio has segmented the household appliance market market by product (Major household appliances and Small household appliances) ,distribution channel (Offline and Online) , and geography (APAC, Europe, North America, South America, and MEA).
            AB Electrolux, Haier Smart Home Co. Ltd., Hitachi Ltd., LG Electronics Inc., MIDEA GROUP, Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Transform SR Brands LLC, Whirlpool Corp. are a few of the key vendors in the household appliance market market.
            APAC will register the highest growth rate of 52.58% among the other regions. Therefore, the household appliance market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
            The key factors driving the household appliance market market growth are:
            • Product innovation and advancement leading to portfolio extension and product premiumization
            • increased adoption of integrated smart home technology
            The household appliance market market vendors should focus on grabbing business opportunities from the major household appliances segment as it accounted for the largest market share in the base year.
            • What are the key global market and the regional market share?
            • What are the revenue-generating key market segments?
            • What are the key factors driving and challenging this market’s growth?
            • Who are the key market vendors and their growth strategies?
            • What are the latest trends influencing the growth of this market?
            • What are the variables influencing the market growth in the primary regions?
            • What are the factors influencing the growth of the parent market?
            • Off-the-shelf research reports
            • Reports can be tailored to meet the customer's needs
            • Trusted by more than 100 fortune 500 organizations
            • Information about the market's key drivers, trends, and challenges
            • Parent market analysis
            • Every week, 50,000 people visit our subscription platform
            • Detailed vendors report with competitive landscape
            • Covid-19 impact and recovery analysis
            • Data on revenue-generating market segments
            • Details on the market shares of various regions
            • Five-force market analysis

            Certified ISO 9001 : 2015

            We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.

            We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.

            Safe and Secure SSL Encrypted
            Technavio

            info
            close
            • Single User:

              Quick and easy buy and download option

            • Enterprise:

              Flexible option - Complimentary customization included

            2500 USD

            Technavio Get the report (PDF) sent to your email within minutes.

            Subscribe & Save

            Get lifetime access to our
            Technavio Insights

            Customized Report as per your Business Needs

            • Our analysts will work directly with you and understand your needs
            • Get data on specified regions or segments, competitor and Vendors
            • Data will be formatted and presented as per your requirements
            • We offer $1000 worth of FREE customization at the time of purchase

            Let us help you make report more suited to your requirements.

            • Get a competitive breakdown as per your niche industry
            • Customize the data with various metrics that meet your business prerequisite
            • Understand Revenue Sources, Customers and many more
            • Details on Market Share
            • These customizations are done in a short amount of time by our analysts and industry experts
            Technavio
            Enquire Before Buying
            17,000 reports available | Plans starting from just 5,000 USD | Get FREE trial>>