Market Size of United States Electronics and Appliance Stores Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR (2024 - 2029) | > 2.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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US Electronics & Appliance Stores Market Analysis
The United States Electronics and Appliance Stores Market is expected to register a CAGR of greater than 2% during the forecast period(2024-2029).
The electric appliance market over the period had focused on energy-efficient products and shifted towards sustainable and eco-friendly products. Enabling AI and IOT in electric appliances is revolutionizing the market with new features and controls.
With the advent of COVID-19, there arose a problem of supply chain disruptions in electrical appliances. As with the advent of COVID-19, consumers were spending more time at home, and a need arose for replacing or upgrading their appliances. Freezers and washing machines were among the appliances observing an increase in demand. With COVID-19, the frequency of use of electrical equipment observed a continuous increase; the use of washers and dryers was up by 25%, and the sanitizing cycle on washers was up by 85%. As a result, demand for equipment exceeds supply, causing delivery delays to customers.
As the economies are recovering and supply chains are recovering. Electric appliance stores are observing a steady state between the supply and demand of electric appliances. With the continuous recovery of sales in June 2021, monthly sales of electronics and appliance stores reached USD 8.49 billion, recovering from a decline of USD 3.52 billion in April 2020.
