Household Appliances Manufacturing Market Report 2024 (Global Edition)

Global Household Appliances Manufacturing Market Report 2024 Market Size Split by Product (Refrigerator, Air Conditioner and Heater, Entertainment and Information Appliances, Washing Machine, Dish Was...

Household Appliances Manufacturing Market Report Description

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Household Appliances Manufacturing Market Insights Video

Competitive Landscape of the Household Appliances Manufacturing Market

In the household appliances manufacturing market's competitive landscape, numerous key competitors are driving innovation and growth. Companies focus on expanding their global reach, leveraging e-commerce platforms, and forming strategic partnerships. Sustainable practices and customer-centric designs are also prioritized to meet evolving consumer demands and environmental regulations.

January 2024: Bosch Home Appliances has unveiled the introduction of a fresh range of countertop Fully Automatic Espresso Machines. This remarkable line of products has been recognized as a CES 2024 Innovation Award Honoree in the smart home category. (Source: https://www.businesswire.com/news/home/20240108689404/en/Bosch-Announces-New-Line-of-Fully-Automatic-Espresso-Machines-at-CES)

Top Companies Market Share in Household Appliances Manufacturing Industry: (In no particular order of Rank)

• Whirlpool Corporation (US.)
• Samsung Electronics Co. Ltd. (South Korea)
• Haier Inc. (China)
• Bajaj Electricals Ltd (India)
• Koninklijke Philips N.V. (South Korea)
• IFB Appliances (India)
• KENT (India)
• Eureka Forbes Ltd. (India)
• Panasonic Holdings Corporation (Japan)
• Orient Electric (India)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.

Regional Analysis of the Household Appliances Manufacturing Market

Which Region Dominates the Household Appliances Manufacturing Market in 2024?

According to Cognitive Market Research, North America currently dominates the household appliances manufacturing market, and the region is expected to have significant growth during the projected period. This is due to the region's rising consumer demand for energy-efficient and smart appliances, fueled by increasing environmental awareness and technological advancements. The growing trend of smart homes, coupled with higher disposable incomes, also contributes to the market's expansion in the region.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). This is due to rising urbanization, increasing disposable incomes, and growing consumer demand for advanced and energy-efficient appliances. Technological advancements, such as smart home integration and IoT connectivity, further boost market growth by enhancing convenience and efficiency for consumers.

The current report Scope analyzes Household Appliances Manufacturing Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Household Appliances Manufacturing Market

According to Cognitive Market Research, the global household appliances manufacturing market size was estimated at USD 745845.2 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 298338.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the household appliances manufacturing market with a market size of USD 235388.75 million in 2024 and is projected to grow at a CAGR of 5.0% during the forecast period. The US market's shifting consumer preference towards online shopping.
• The Canada household appliances manufacturing market had a market share of USD 35800.57 million in 2024 and is projected to grow at a CAGR of 6.0% during the forecast period. Canada’s development of various technologies.
• The Mexico household appliances manufacturing market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 27148.77 million in 2024.

Europe Household Appliances Manufacturing Market

According to Cognitive Market Research, the global household appliances manufacturing market size was estimated at USD 745845.2 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 223753.56 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.5% from 2024 to 2031.

• The United Kingdom household appliances manufacturing market had a market share of USD 37590.60 million in 2024 and is projected to grow at a CAGR of 6.3% during the forecast period. In the UK, household appliances manufacturing sales witness an upswing due to the advancements in technology.
• The France household appliances manufacturing market is projected to witness growth at a CAGR of 4.7% during the forecast period, with a market size of USD 20585.33 million in 2024.
• According to Cognitive Market Research, the German household appliances manufacturing market size was valued at USD 44303.20 million in 2024 and is projected to grow at a CAGR of 5.7% during the forecast period. In Germany, household appliance manufacturing surged due to the increased focus on the major market players.
• The Italy household appliances manufacturing market is projected to witness growth at a CAGR of 4.9% during the forecast period, with a market size of USD 19242.81 million in 2024.
• The Russia household appliances manufacturing market is projected to witness growth at a CAGR of 4.5% during the forecast period, with a market size of USD 34681.80 million in 2024.
• The Spain household appliances manufacturing market is projected to witness growth at a CAGR of 4.6% during the forecast period with a market size of USD 18347.79 million in 2024
• The Luxembourg household appliances manufacturing market is projected to witness growth at a CAGR of 5.6% during the forecast period, with a market size of USD 6936.36 million in 2024.
• The Portugal household appliances manufacturing market is projected to witness growth at a CAGR of 5.3% during the forecast period, with a market size of USD 4698.82 million in 2024.
• The Greece household appliances manufacturing market is projected to witness growth at a CAGR of 5.8% during the forecast period, with a market size of USD 2685.04 million in 2024.
• The Rest of Europe's household appliances manufacturing market is projected to witness growth at a CAGR of 4.2% during the forecast period, with a market size of USD 34681.80 million in 2024.

Asia Pacific Household Appliances Manufacturing Market

According to Cognitive Market Research, the global household appliances manufacturing market size was estimated at USD 745845.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 171544.40 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2031.

• According to Cognitive Market Research, the China household appliances manufacturing market size was valued at USD 77194.98 million in 2024 and is projected to grow at a CAGR of 8.5% during the forecast period. Household appliance manufacturing surged in China due to the increased focus of the major market players.
• The Japan household appliances manufacturing market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 23673.13 million in 2024.
• The India household appliances manufacturing market had a market share of USD 20585.33 million in 2024 and is projected to grow at a CAGR of 10.8% during the forecast period. India's innovations in energy efficiency, and smart home technology.
• The South Korean household appliances manufacturing market is projected to witness growth at a CAGR of 8.1% during the forecast period, with a market size of USD 8920.31 million in 2024.
• The Australian household appliances manufacturing market is projected to witness growth at a CAGR of 8.7% during the forecast period, with a market size of USD 11836.56 million in 2024.
• The South East Asia household appliances manufacturing market is projected to witness growth at a CAGR of 10.0% during the forecast period, with a market size of USD 12179.65 million in 2024.
• The Rest of Asia Pacific Household Appliances Manufacturing market is projected to witness growth at a CAGR of 8.8% during the forecast period, with a market size of USD 116.34 million in 2024.

South America Household Appliances Manufacturing Market

According to Cognitive Market Research, the global household appliances manufacturing market size was estimated at USD 745845.2 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 37292.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil household appliances manufacturing market size was valued at USD 15961.09 million in 2024 and is projected to grow at a CAGR of 7.0% during the forecast period. Household appliances manufacturing flourished in Brazil due to rising awareness of smart home solutions.
• Argentina's household appliances manufacturing market had a market share of USD 6265.10 million in 2024 and is projected to grow at a CAGR of 7.3% during the forecast period. Argentina's expansion of e-commerce platforms.
• Colombia household appliances manufacturing market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 3319.01 million in 2024.
• Peru household appliances manufacturing market is projected to witness growth at a CAGR of 6.6% during the forecast period, with a market size of USD 3057.97 million in 2024.
• Chile household appliances manufacturing market is projected to witness growth at a CAGR of 6.7% during the forecast period, with a market size of USD 2685.04 million in 2024.
• The Rest of Latin America's household appliances manufacturing market is projected to witness growth at a CAGR of 5.5% during the forecast period, with a market size of USD 6004.05 million in 2024.

Middle East and Africa Household Appliances Manufacturing Market

According to Cognitive Market Research, the global household appliances manufacturing market size was estimated at USD 745845.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 14916.90 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.

• The GCC Countries' household appliances manufacturing market is projected to witness growth at a CAGR of 7.5% during the forecast period, with a market size of USD 6384.43 million in 2024. Household appliance manufacturing sales flourish due to the presence of major market players.
• The Egypt household appliances manufacturing market is projected to witness growth at a CAGR of 7.0% during the forecast period, with a market size of USD 1566.27 million in 2024.
• The South Africa household appliances manufacturing market is projected to witness growth at a CAGR of 7.7% during the forecast period, with a market size of USD 2356.87 million in 2024. Household appliance manufacturing sales flourished in South Africa due to a growing preference for e-commerce.
• The Turkey household appliances manufacturing market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 1282.85 million in 2024.
• The Nigeria household appliances manufacturing market is projected to witness growth at a CAGR of 5.8% during the forecast period, with a market size of USD 1566.27 million in 2024.
• The Rest of the MEA household appliances manufacturing market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 1760.19 million in 2024.

Household Appliances Manufacturing Market Analysis

Household Appliances Manufacturing Market Product Segment Analysis

According to Cognitive Market Research, the entertainment & information appliances segment holds the largest share of the market due to increased consumer demand for smart and energy-efficient devices. Technological advancements, rising disposable incomes, and a growing preference for convenience and connectivity further boost market growth, influencing both innovation and production in the sector.

In the household appliances manufacturing market, microwaves have been expanding at a rapid pace due to technological advancements, increased demand for energy-efficient appliances, and a focus on convenience. Innovations in microwave features, such as smart controls and energy-saving modes, fuel market growth as consumers seek enhanced functionality and efficiency in their daily lives.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Household Appliances Manufacturing Industry. Request a Free Sample PDF!

Household Appliances Manufacturing Market Distribution Channel Segment Analysis

According to Cognitive Market Research, the specialty store segment holds the largest share of the market due to the increasing consumer demand for energy-efficient and smart home products. Specialty stores, offering a curated selection and expert advice, contribute significantly by enhancing consumer experience and showcasing advanced features, thus fueling market growth through personalized service and targeted product offerings.

In the household appliances manufacturing market, e-commerce has been expanding at a rapid pace due to growing e-commerce adoption. Online platforms enhance consumer access and convenience, driving demand for diverse appliances. E-commerce offers a broader range of products and competitive pricing, fostering market growth as consumers increasingly prefer online shopping for their household needs.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

Author's Conclusion