US Major Home Appliances Market Size
| Study Period | 2019 - 2028 |
| Base Year For Estimation | 2022 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2019 - 2021 |
| CAGR | > 2.50 % |
| Market Concentration | Medium |
Major Players.webp)
*Disclaimer: Major Players sorted in no particular order |
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US Major Home Appliances Market Analysis
The United States Major Home Appliances Market is estimated at USD 29.1 billion in the current year and is poised to grow at a CAGR of greater than 2.5% during the forecast period.
The rapid spread of COVID-19 across the world led to serious challenges for most suppliers of manufactured products, including large home appliances in the United States, in the form of supply chain disruptions. Limited availability of components, restricted labor supply, and other supply chain-related costs are some of the major challenges that the industry witnessed.
The United States major home appliance market has been growing for the past several years, and improvement in lifestyle is also one of the key factors. The market is concentrating more on designing innovative and user-friendly products to provide the consumer with energy-efficient and smart products.
The major home appliances market is expected to exhibit moderate growth in the coming years due to the rise in disposable incomes coupled with rapid urbanization, leading to enhanced consumer spending. Technological advancements have led to the development of appliances like refrigerators, washing machines, and dishwashers. They are expected to drive the growth of the home appliances market during the forecast period, and there is a rapid growth in major home appliances. The United States is a mature and homogenous market for home appliances with high product penetration. Consumers generally opt for modern and stylish home appliances that complement their living standards.
The increasing online sales over the past few years are expected to play a major role in the growth of the market throughout the forecast period. Over the recent five years, the online sales of major home appliances grew steadily, as both rising e-commerce sales and recovering construction activity boosted the demand for industrial goods. The weak product differentiation has led to industry players' focus on brand value, energy efficiency, and technological innovation. The wave of IoT and smart homes is driving the adoption of smart and advanced appliances.
US Major Home Appliances Market Trends
This section covers the major market trends shaping the US Major Home Appliances Market according to our research experts:
Rising Residential Housing is Driving the Market for Major Home Appliances
With an increase in residential housing, demand for major home appliances is increased to push the production data moderately high. The performance of the housing market has a direct impact on the manufacturing of major home appliances. The residential housing sector in the United States will likely generate increased demand for major home appliances, thus boosting the market's prospects. Additionally, increasing home renovation activities in the country may drive the demand for major appliances in the short term.
The United States home improvement industry is stronger than it has been in over ten years and encompasses the sale of building materials, appliances, decor, and other home enhancements, and the services offered by contractors, tradespeople, and other workers who help build, install, modify, and upgrade homes. The new housing construction is one of the primary factors determining the demand for new refrigerators and freezers in the country. Though most households already have one or more refrigerators at home, due to the rapid technological developments in the industry, most customers are willing to trade their old ones with new models more frequently.
Refrigerator Segment is Taking Largest Share in the Market
A refrigerator is an appliance used for food storage in cold temperatures to help food stay fresh longer. The refrigerator has become an essential part of a household and is one of the first appliances purchased once the household income reaches an adequate level. The refrigerator market is the major contributor to the United States major home appliance market. Refrigerators are used to preserve edible items at different temperatures, and the introduction of advanced refrigerators provided with smart technologies is expected to drive the market in the future. The residential sector primarily drives the demand for refrigerators, and improved living standards have led to a demand for major home appliances in the United States.
US Major Home Appliances Industry Overview
The report covers major international players operating in the United States Major Home Appliances Market. Regarding market share, some major players currently dominate the market. Major players operating in the market are LG Electronics, Haier Group, Whirlpool Corporation, Midea Group, Samsung Electronics, Bosch, Electrolux AB, Gorenje Group, Panasonic Corporation, Arcelik AS, among others.
US Major Home Appliances Market Leaders
Whirlpool
Haier
LG
Bosch
Samsung Electronics
*Disclaimer: Major Players sorted in no particular order
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US Major Home Appliances Market News
- In Nov 2022 - Lowe's expands its assortment of premium appliances through a new partnership with Miele. Their partnership with Miele reaffirms Lowe's commitment to ensuring that they have new, high-quality offerings across all price points.
- In June 2021 - GE Appliances (GEA), a Haier company, continued its US manufacturing expansion with a USD 5 million investment in its Selmer, Tennessee Monogram Refrigeration subsidiary to begin production of new Zoneline vertical terminal air conditioners, or VTACs, commonly used in hotels and private residential facilities.
US Major Home Appliances Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Value Chain / Supply Chain Analysis
4.5 Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers/Consumers
4.5.2 Bargaining Power of Suppliers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Insights on Current Trends and Innovations in the Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Refrigerators
5.1.2 Freezers
5.1.3 Air-Conditioners
5.1.4 Dishwashers
5.1.5 Washing Machines
5.1.6 Ovens
5.1.7 Others
5.2 By Distribution Channel
5.2.1 Multi-Branded Stores
5.2.2 Exclusive Brand Outlets
5.2.3 Online
5.2.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 LG Electronics
6.2.2 Haier Group
6.2.3 Whirlpool Corporation
6.2.4 Midea Group
6.2.5 Samsung Electronics
6.2.6 Bosch
6.2.7 Electrolux AB
6.2.8 Gorenje Group
6.2.9 Panasonic Corporation
6.2.10 Arcelik AS*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
US Major Home Appliances Industry Segmentation
A complete background analysis of the United States Major Home Appliances Market, which includes an assessment of the economy, and emerging market trends by segments, significant changes in the market dynamics, and the market overview, is covered in the report. The United States Major Home Appliances Market is segmented by Product (Refrigerators, Freezers, Air-Conditioners, Dishwashers, Washing Machines, Ovens, and Others) and by Distribution Channel (Multi-Branded Stores, Exclusive Brand Outlets, Online, and Other Distribution Channels). The report offers market size and forecasts in value (USD Billion) for all the above segments.
| By Product | |
| Refrigerators | |
| Freezers | |
| Air-Conditioners | |
| Dishwashers | |
| Washing Machines | |
| Ovens | |
| Others |
| By Distribution Channel | |
| Multi-Branded Stores | |
| Exclusive Brand Outlets | |
| Online | |
| Other Distribution Channels |
US Major Home Appliances Market Research FAQs
What is the current United States Major Home Appliances Market size?
The United States Major Home Appliances Market is projected to register a CAGR of greater than 2.5% during the forecast period (2023-2028).
Who are the key players in United States Major Home Appliances Market?
Whirlpool, Haier, LG, Bosch and Samsung Electronics are the major companies operating in the United States Major Home Appliances Market.
US Major Home Appliances Industry Report
Statistics for the 2023 US Major Home Appliances market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. US Major Home Appliances analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
