HOME & HOUSEHOLD APPLIANCES FACTS
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.
Global retail sales of home and household appliances are forecast to grow to almost 450 billion U.S. dollars in 2021 and surpass the 500 billion dollar mark in the upcoming years. Refrigeration appliances sales take up the most significant share of the market, with retail sales of more than 90 billion U.S. dollars in 2020.
Major and small appliances as main categories
The home and household appliances market is split into two main categories: major appliances and small appliances.
Major appliances are large machines used at home, including refrigerators, dishwashers, washing machines, tumble dryers, and air-conditioners. The small appliances category includes products used at home, such as food processors, toasters, coffee makers, and more.
Leading household manufacturers
Major household appliances such as refrigeration appliances, large kitchen appliances, laundry appliances, and air-conditioners make up a significant portion of retail sales worldwide when combined, compared to that of all small home appliances. Therefore, appliance manufacturers such as Whirlpool, Midea, Haier, LG, BSH Home Appliances, and Electrolux, which all generate a sizable share of their revenue from major appliances, are amongst the leading appliances manufacturers worldwide. One notable exception is the French company Groupe SEB, which produces and sells mostly small appliances.
Source : Statista