Cordless Appliances Market Report 2024

The cordless appliances market size has grown strongly in recent years. It will grow from $40.63 billion in 2023 to $43.92 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth during the historic period can be attributed to several factors, including a rising consumer preference for convenience and portability, expansion in the home improvement and renovation sector, improvements in safety and performance features, increased disposable income and spending on household goods, and greater adoption of smart home technology.

The cordless appliances market size is expected to see strong growth in the next few years. It will grow to $60.26 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth during the forecast period can be attributed to several factors, including the rising trend of home automation and smart home integration, expansion into emerging markets with growing middle-class populations, increased focus on health and hygiene, and government incentives and regulations promoting energy-efficient appliances. Major trends expected during this period include the integration of advanced sensors and AI for enhanced functionality, the development of multi-use and versatile cordless appliances, a focus on sleek and ergonomic design improvements, the use of sustainable and recyclable materials, and advancements in wireless charging technologies.

The growing demand for smart home solutions is anticipated to boost the growth of the cordless appliance market. Smart home solutions encompass various technologies and systems that integrate multiple devices and appliances within a home to improve convenience, comfort, security, energy efficiency, and automation. The increasing desire for convenience and automation, which allows remote control of home systems, is driving this demand. Technological advancements and better connectivity also make these solutions more accessible and attractive. Cordless appliances are favored in smart homes due to their convenience and seamless integration with automation systems, which offer flexibility and reduce cable clutter. For example, a report by techUK, a UK-based tech industry membership association, indicated in November 2022 that 77% of UK adults would own at least one connected home device, up from 67% pre-pandemic, reflecting a 1% increase since 2021. Additionally, the proportion of 'advanced adopters' - those owning over three connected home devices - rose to 26% in 2022 from 24% in 2021. Consequently, the rise in smart appliances is expected to drive the growth of the cordless appliance market.

Leading companies in the cordless appliances market are focusing on incorporating advancements in wireless technology, such as wireless charging, to simplify the user experience by eliminating cables and connectors. Wireless charging allows devices to be charged simply by placing them on compatible charging pads, enhancing convenience and flexibility. For instance, in May 2023, Klipsch Group Inc., a US-based company known for its audio equipment, including speakers and headphones, introduced the T5 II ANC true wireless stereo (TWS) earphones. These earphones cater to the growing demand for advanced features such as active noise cancellation (ANC) and wireless charging. They also feature Bragi's AI-powered gesture controls for intuitive operation and are designed with redesigned drivers and Dirac HD sound technology for superior audio quality. This launch highlights Klipsch’s strategy to compete in the premium TWS earphone market with innovative features and high-quality audio performance.

In June 2023, ABB Ltd., a Switzerland-based automation company, acquired Eve Systems GmbH for an undisclosed amount. This acquisition is set to enhance ABB's offerings in energy-efficient and smart home solutions, addressing the increasing demand for retrofitting existing buildings. Eve Systems GmbH, based in Germany, specializes in manufacturing smart home products, particularly cordless appliances.

Major companies operating in the cordless appliances market are Samsung Electronics Co. Ltd., Hitachi Ltd., LG Electronics Inc., Panasonic Corporation, Midea Group, Haier Group Corporation, Whirlpool Corporation, Koninklijke Philips N.V., BSH Home Appliances Group, Black+Decker Inc., Electrolux AB, Dyson Ltd, Makita Corporation, Miele & Cie. KG, SharkNinja Operating LLC, iRobot Corporation, Breville Group, Hoover Company, Bissell Inc., Hamilton Beach Brands Holding Company, Vitamix, Blendtec, Cuisinart, Russell Hobbs Limited, Wacaco, Oster, Tineco Intelligent Technology Co. Ltd., Megachef.

North America was the largest region in the cordless appliances market in 2023. The regions covered in the cordless appliances market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the cordless appliances market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Cordless appliances are household or personal devices that operate without needing a direct electrical cord or plug connection to a power outlet. Instead, they rely on internal batteries or wireless charging systems. This design provides greater convenience, mobility, and flexibility, allowing users to operate these appliances without being limited by the length of a power cord or the need to be near an outlet.

The main types of cordless appliances include vacuum cleaners, mixers, blenders, electric kettles, coffee makers, choppers, electric shakers, lamps, table fans, and other similar devices. For instance, a cordless vacuum cleaner uses rechargeable batteries to clean floors and surfaces, offering improved maneuverability and ease of use, making it ideal for quick and efficient cleaning in various home environments. These appliances are distributed through online and offline channels, with end users including both residential and commercial sectors.

The cordless appliances market research report is one of a series of new reports that provides cordless appliances market statistics, including cordless appliances industry global market size, regional shares, competitors with an cordless appliances market share, detailed cordless appliances market segments, market trends and opportunities, and any further data you may need to thrive in the cordless appliances industry. This cordless appliances market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The cordless appliance market consists of sales of cordless vacuum cleaners, cordless drills, and cordless blenders. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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