Press release
2025-2034 Household Appliances Market Roadmap: Insights for Competitive Advantage
Household Appliances Market
What Is the Expected CAGR for the Household Appliances Market Through 2025?
In the past few years, the household appliances market has experienced robust growth. Experts predict a rise from $671.66 billion in 2024 to $729.08 billion in 2025, showcasing a compound annual growth rate (CAGR) of 8.5%. Factors such as an uptick in home remodeling, housing market expansion, higher home electrification, evolving lifestyles, energy efficiency consciousness, and demographic changes can explain the growth seen in the historical period.
What's the Projected Size of the Global Household Appliances Market by 2029?
The market for household appliances is predicted to experience substantial expansion in the coming years. It is projected to reach $971.15 billion in 2029, with a compound annual growth rate (CAGR) of 7.4%. Factors contributing to this growth in the forecast period include the increase in smart home integration, a growing middle-class demographic, health and wellness capabilities, demands from an aging population, and the integration of energy storage. Forecast period trends in this market include sustainable design, the internet of things (IoT), integration of voice and AI, compact and multi-functional devices, cutting-edge cooking technologies, and a focus on customization and personalization.
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Top Growth Drivers in the Household Appliances Industry: What's Accelerating the Market?
The growing popularity of outdoor gatherings and barbeques during weekends and holidays is predicted to spur the household appliances market during the forecast period. The quickly changing lifestyle coupled with the surge in outdoor recreational activities could amplify the requirement for household appliances. The market for household appliances in Europe is projected to swell to $5.98 million by 2026. Greater accessibility to distinct camping locales, as well as an increase in adventure camping, teamed with a rise in disposable income, is predicted to push the global market for household appliances. This would further propel the household appliances market during the predicted period.
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What Trends Will Shape the Household Appliances Market Through 2029 and Beyond?
Producers of household appliances have begun integrating LED lights into their units to reduce energy use. LED lights draw less current compared to CFL or incandescent light bulbs. These manufacturers are making a concerted effort to launch goods with LED lighting to cut down on power usage and enhance aesthetic appeal. For example, the LED lighting system in GE's refrigerators decreases power usage by 80% versus halogen lights. The business has rolled out goods like café's French door refrigerators and profile wall ovens with such lighting systems. Renowned companies like Philip Electronics N.V., Osram Opto, Digital Lumens Inc., and Cree Corporation, for instance, are among the top producers of LED lights.
What Are the Main Segments in the Household Appliances Market?
The household appliances market covered in this report is segmented -
1) By Type: Small Electrical Appliance, Household Cooking Appliance, Household Refrigerator And Home Freezer, Household Laundry Equipment, Other Major Household Appliance
2) By Mode: Online, Offline
3) By Application: Cooking, Cleaning, Other Applications
Subsegments:
1) By Small Electrical Appliance: Toasters, Blenders, Coffee Makers, Electric Kettles, Vacuum Cleaners
2) By Household Cooking Appliance: Ovens (Conventional, Microwave, Convection), Stoves (Gas, Electric), Cooktops, Slow Cookers, Rice Cookers
3) By Household Refrigerator And Home Freezer: Top-Freezer Refrigerators, Bottom-Freezer Refrigerators, Side-by-Side Refrigerators, Chest Freezers, Upright Freezers
4) By Household Laundry Equipment: Washing Machines (Front Load, Top Load), Dryers (Electric, Gas), Washer-Dryer Combos
5) By Other Major Household Appliance: Dishwashers, Air Conditioners, Water Heaters, Dehumidifiers, Humidifiers
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Which Top Companies are Driving Growth in the Household Appliances Market?
Major companies operating in the household appliances market include Samsung Electronics Co. Ltd., Hitachi Appliances, LG Electronics, Panasonic Appliances, Qingdao Haier Co. Ltd., Daikin Industries Ltd, Haier Smart Home Co. Ltd., Gree Electric Appliances, Toshiba Corporation, Whirlpool Corporation, Sharp Corporation, Bosch-Siemens, Electrolux AB, Liebherr Group, Wolf Appliance, Candy Group, Hisense Group, Groupe SEB SA, Arçelik Global, Miele, Maytag Corporation, Vestel International, Fisher & Paykel, Indesit Company, Blue Star Limited, Thermador, Sub-Zero Group, DCS Appliances, Smeg, Viking Range, AGA Rangemaster, Gaggenau, Bertazzoni S.p.A., Dacor Inc., American Range, Asko Appliances, La Cornue, Hestan Commercial Corporation, Lynx Grills, ILVE Spa
Which Regions Will Dominate the Household Appliances Market Through 2029?
Asia-Pacific was the largest region in the household appliances market in 2024. Western Europe was the second largest region in the household appliances market. The regions covered in the household appliances market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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