The home appliance industry – which includes electrical or mechanical devices used in a household – is a multi-billion dollar industry, with global sales of major and small appliances amouting to more than 270 billion euros in 2019. The overall appliances market is forecast to grow further over the next few years to more than 450 billion U.S. dollars in value by 2023.
The leading companies in the industry include the Chinese Haier Electronics Group, the U.S.-based Whirlpool, the German BSH Home Appliances Group, the Swedish company Electrolux, and the South Korean multinational giant LG Electronics.
 

Household appliances market segments
The home appliance industry is divided into two sectors: major domestic appliances and small domestic appliances. The first category includes large machines used at home, such as, freezers, stoves, and washing machines. Sales of major appliances generated an estimated 183 billion U.S. dollars in revenue in 2019. The second category, small domestic appliances, includes products such as food processors, toasters and coffee makers, to name a few.

Growth outlook - Smart kitchen & vaccum robots
A growing and promising sub-market within the home appliance industry is the smart appliance market. Washing machines, refrigerators and room air-conditioners are projected as the main appliance categories within the smart appliances market worldwide in 2020. The smart kitchen market alone is forecast to grow from around 15 billion U.S. dollars today to more than 30 billion U.S. dollars worldwide by 2025. Vaccum consumer robots are another poduct category in the broader household appliances market expected to show strong growth in the future.