Market Size of North America Small Home Appliances Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Small Home Appliances Market Analysis
The North American Small Home Appliances Market generated revenue of USD 42 billion in the current year, and it is poised to achieve a CAGR of more than 3.5% for the forecast period.
Post-COVID, there is a marginal impact on the small home appliances market in North America. However, traveling activities and an increase in commercial activities led to growth in the market. This is due to the increase in the proportion of online sales to that of offline sales. However, the supply chain was disrupted, and the production was discontinued in the years 2020 and 2021. The already available goods were majorly sold through online mode.
North America held more than 25% of the market globally in the production of small home appliances in the current year. The simplified lifestyle and convenience are adding to the growth of the small home appliances market in the North American region. The growth has slowed in the past few years when compared to other regions globally. However, the growth in the North American region is driven by growth in various categories of small home appliances, including vacuum cleaners, small kitchen appliances, and air purifiers. Product configurations with advanced controls are the leading trends within the small domestic appliance market. Consumers' desire for simplification is driving the demand for small home appliances market in the North American region.
- Small appliances with IoT and connectedness with mobile systems, apps that make consumer life convenient, are a major force driving the market. Multifunctional small appliances with new features are expected to influence the growth of the small domestic appliance market in a positive direction. However, there is a considerable challenge for the manufacturers to synchronize a balance between the prices and the latest features, which are expected from the customer's point of view. Hence, the major players are working on different strategies to make the products more appealing to the customers. The market is expected to grow at a constant rate in the coming years.
