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Global Market Size of Retail Household Appliances (2017-2021, $ Billion)

Industry: Electrical And Electronics Specialists
Current: Market Sizing & Shares

The Household Appliances segment globally reached a value of $306 billion in 2021
US and Japan contributes 12% and 8% respectively to the global market size in the household appliances segment
The compound annual growth rate for household appliances saw a growth of 3.7% for the period 2017-2021

The Household Appliance segment is a widely popular selling product category in the retail industry. The segment is categorized into different products which include household cooking appliances, household refrigerators, household laundry, and small cooking equipment.

The Household Appliances segment globally reached a value of $306 billion in 2021, witnessing an increase of 6% from the previous year this was mainly on account of growth in the retail product categories. China remained the market leader in the Household Appliances segment with a share of 18% of the global market size.

This is followed by US and Japan which contributes 12% and 8% respectively to the global market size in the household appliances segment.

The growth in household appliances globally is mainly on account of rising disposable income coupled with restrictions due to COVID-19 supporting the demand for household appliances.

Moreover, nations across the globe saw further improvement in the overall demand post-pandemic Covid-19. Moreover, both brick & mortar and online businesses resumed their operations after being under restrictions for a period of almost two years.

The compound annual growth rate for household appliances saw a growth of 3.7% for the period 2017-2021. This was primarily on account of improved consumer spending on lifestyle products has increased and is expected to witness growth further in the near term on the back of the recovery from the pandemic across nations.

The major Consumer Appliances players which have a strong dominance in the global markets include Whirlpool, Haier, and Samsung Electronics. Key players who have gained global acceptance in the consumer appliances market mainly come from China and US.

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