The global market for Electric Household Appliances is estimated at 1.6 Billion Units in 2023 and is projected to reach 2.1 Billion Units by 2030, growing at a CAGR of 4.2% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the electric household appliances market is driven by several factors. Increasing urbanization and the rising disposable incomes of consumers have led to higher demand for modern, efficient, and technologically advanced appliances. The trend towards smaller, nuclear families has also spurred the need for compact and multifunctional appliances that save space and provide versatile solutions. Consumer awareness of energy conservation and the benefits of eco-friendly appliances is propelling the demand for energy-efficient models. Technological advancements, such as the integration of AI and machine learning, are enhancing the functionality of appliances, making them more intuitive and user-friendly. For instance, AI-powered refrigerators can manage inventory and suggest recipes based on available ingredients, while washing machines equipped with machine learning can optimize wash cycles for better results. Additionally, government regulations and incentives promoting energy efficiency and reducing carbon footprints are encouraging both consumers and manufacturers to adopt and develop greener appliances. The increasing prevalence of e-commerce has also made it easier for consumers to access a wide range of products, compare features and prices, and make informed purchasing decisions. These factors, combined with the ongoing innovation in appliance technology, are driving robust growth in the electric household appliances market, making it one of the most dynamic and rapidly evolving sectors in the consumer goods industry.
The growth in the electric household appliances market is driven by several factors. Increasing urbanization and the rising disposable incomes of consumers have led to higher demand for modern, efficient, and technologically advanced appliances. The trend towards smaller, nuclear families has also spurred the need for compact and multifunctional appliances that save space and provide versatile solutions. Consumer awareness of energy conservation and the benefits of eco-friendly appliances is propelling the demand for energy-efficient models. Technological advancements, such as the integration of AI and machine learning, are enhancing the functionality of appliances, making them more intuitive and user-friendly. For instance, AI-powered refrigerators can manage inventory and suggest recipes based on available ingredients, while washing machines equipped with machine learning can optimize wash cycles for better results. Additionally, government regulations and incentives promoting energy efficiency and reducing carbon footprints are encouraging both consumers and manufacturers to adopt and develop greener appliances. The increasing prevalence of e-commerce has also made it easier for consumers to access a wide range of products, compare features and prices, and make informed purchasing decisions. These factors, combined with the ongoing innovation in appliance technology, are driving robust growth in the electric household appliances market, making it one of the most dynamic and rapidly evolving sectors in the consumer goods industry.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Major Household Appliances segment, which is expected to reach 1.2 Billion Units by 2030 with a CAGR of a 4.7%. The Small Household Appliances segment is also set to grow at 3.7% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at 422.7 Million Units in 2023, and China, forecasted to grow at an impressive 7.2% CAGR to reach 438.7 Million Units by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Electric Household Appliances Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Electric Household Appliances Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Electric Household Appliances Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as AB Electrolux, GE Appliances, Groupe SEB, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 151 Featured):
- AB Electrolux
- GE Appliances
- Groupe SEB
- Haier Group
- Hamilton Beach Brands Inc.
- Hitachi Appliances Inc.
- Jarden Consumer Solutions
- LG Electronics
- Miele & CIE, KG
- Mitsubishi Electric Corp.
- Panasonic Corp.
- Samsung Electronics Co., Ltd.
- Whirlpool Corp.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISCANADAITALYSPAINRUSSIAREST OF EUROPESOUTH KOREAREST OF ASIA-PACIFICARGENTINABRAZILMEXICOREST OF LATIN AMERICAIRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EASTIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
JAPAN
CHINA
EUROPE
FRANCE
GERMANY
UNITED KINGDOM
ASIA-PACIFIC
AUSTRALIA
INDIA
LATIN AMERICA
MIDDLE EAST
AFRICA
Companies Mentioned
- AB Electrolux
- GE Appliances
- Groupe SEB
- Haier Group
- Hamilton Beach Brands Inc.
- Hitachi Appliances Inc.
- Jarden Consumer Solutions
- LG Electronics
- Miele & CIE, KG
- Mitsubishi Electric Corp.
- Panasonic Corp.
- Samsung Electronics Co., Ltd.
- Whirlpool Corp.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 248 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value in 2023 | 1.6 Billion Units |
| Forecasted Market Value by 2030 | 2.1 Billion Units |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
