US Major Home Appliances Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 33.44 Billion |
| Market Size (2029) | USD 38.64 Billion |
| CAGR (2024 - 2029) | 2.93 % |
| Market Concentration | Low |
Major Players
*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 size is estimated at USD 33.44 billion in 2024, and is expected to reach USD 38.64 billion by 2029, growing at a CAGR of 2.93% during the forecast period (2024-2029).
The changing consumer lifestyle and growing economic pressure increased the growth rate of the primary major home appliance industry in the United States. The increasing adoption of advanced technology also boosts the growth of the market. The penetration of digital technologies initiated the development of energy-efficient appliances, which help perform functions with less energy consumption. Factors like rising disposable income, improving living standards, and the need for comfort are the primary drivers of the growth of major home appliances in the United States.
The increasing penetration of distribution channels such as specialty stores, brand outlets, e-commerce, and supermarkets contributes to the growth of the United States' primary home appliance industry. The demand for major household appliances like dishwashers, washing machines, and mixer grinders increased due to consumers' sedentary, busy lifestyles.
The United States manufacturers have integrated advanced technologies like artificial intelligence, AR/VR, the Internet of Things, and robotics in significant home appliances to enhance consumer experience and boost the market's growth. Regularly introducing new home products with the latest advanced and innovative features increases consumers' demand and promotes sales of major home appliances.
US Major Home Appliances Market Trends
Increased Adoption of Multi and Advanced Products Driving the Market for Major Home Appliances
There is an increased demand for multi-purpose and advanced household products because it saves customers time and resources. Multifunctional products provide multiple household applications, and they are also cost-effective. Multifunctional home appliances also save space, money, and effort, giving convenience and better results.
The US major home appliance manufacturers continuously innovate to stay competitive, increase customer awareness, expand their customer base, and improve product demand. The increasing production of multifunctional home appliances is a growing trend in the major home appliance markets in the United States.
Product Innovation and Advancement Drives the Market
Factors like increased innovation, technological advancements in major home appliances, and changing consumer preferences lead to the demand for innovative household products. Therefore, market players continuously research, develop, and innovate to survive in the competitive market.
Market players manufacture innovative, intelligent, and eco-friendly major home appliance products. These products are more expensive than traditional household appliances. Because of the limited time for household activities, people demand intelligent, efficient, and easy-to-use home appliances, resulting in product premiumization. Therefore, these factors increase the market growth.
US Major Home Appliances Industry Overview
The US major home appliances market is fragmented. The market players have made significant investments in R&D efforts to bring state-of-the-art home appliances incorporating technology such as the Internet of Things, artificial intelligence, and other technologies. Major players operating in the market are Haier Group, LG Electronics, Samsung Electronics, and Bosch, and Whirlpool Corporation.
US Major Home Appliances Market Leaders
Whirlpool
Haier
LG
Bosch
Samsung Electronics
*Disclaimer: Major Players sorted in no particular order
US Major Home Appliances Market News
- April 2023: Haier launched an innovative super drum washing machine with intelligent voice control, and the excellent drum ensures effective washing performance.
- November 2022: Lowe, a retail company specializing in home improvement situated in America, expanded its assortment of premium appliances through a new partnership with Miele (a German manufacturer of high-end domestic appliances and commercial equipment). This partnership aimed to ensure new, high-quality offerings across all price points.
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
4.2.1 Shifts in Consumer Preferences and Lifestyle Changes Drives the Market's Growth
4.2.2 Demand for Time Saving Solutions Drives the Market's Growth
4.3 Market Restraints
4.3.1 Supply Chain Disruptions
4.3.2 High Cost of Maintenance
4.3.2.1
4.3.3 Market Oppurtunities
4.3.3.1 Technological Advancements in Major Home Appliances
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
5.2 By Distribution Channel
5.2.1 Multi-Branded Stores
5.2.2 Exclusive Brand Outlets
5.2.3 Online
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 OPPORTUNTIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
US Major Home Appliances Industry Segmentation
A home appliance is a domestic, electric, or household appliance. It is a machine that assists consumers in household chores such as cooking, cleaning, and preservation. The US major home appliances market is segmented into segments: product type and distribution channel. The market is segmented by products: refrigerators, freezers, air-conditioners, dishwashers, washing machines, and ovens. The market is segmented by distribution channel into multi-branded stores, exclusive brand outlets, and online. The report offers the market size in value terms in USD for all the abovementioned segments.
| By Product | |
| Refrigerators | |
| Freezers | |
| Air-conditioners | |
| Dishwashers | |
| Washing Machines | |
| Ovens |
| By Distribution Channel | |
| Multi-Branded Stores | |
| Exclusive Brand Outlets | |
| Online |
US Major Home Appliances Market Research FAQs
How big is the United States Major Home Appliances Market?
The United States Major Home Appliances Market size is expected to reach USD 33.44 billion in 2024 and grow at a CAGR of 2.93% to reach USD 38.64 billion by 2029.
What is the current United States Major Home Appliances Market size?
In 2024, the United States Major Home Appliances Market size is expected to reach USD 33.44 billion.
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.
What years does this United States Major Home Appliances Market cover, and what was the market size in 2023?
In 2023, the United States Major Home Appliances Market size was estimated at USD 32.46 billion. The report covers the United States Major Home Appliances Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the United States Major Home Appliances Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
US Major Home Appliances Industry Report
Statistics for the 2024 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 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
