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Top 5 Countries in Retail Household Appliances by Market Size (2021, $ Billion)

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

China is the market leader for retail consumer appliances with a market size reaching $54 billion in 2021
Key players from South Korea and Germany in household appliances include Samsung Electronics, Siemens, and Bosch
South Korea and Germany stood in fourth and fifth positions through their contribution of 7% and 5% respectively

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.

China is the market leader for retail consumer appliances with a market size reaching $54 billion in 2021. China saw a significant increase of 15% in its market size from the previous year owing to increased demand for household products due to pandemic restrictions that restricted the outdoor movement of people.

Moreover, 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.

South Korea and Germany stood in fourth and fifth positions through their contribution of 7% and 5% respectively.

Key players from South Korea and Germany in household appliances include Samsung Electronics, Siemens, and Bosch.

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.

Overall, Consumer spending on retail 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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