"Assisting You in Establishing Data Driven Brands"

Home Appliances Market Size, Share & Industry Analysis, By Type (Major Appliances {Refrigeration Equipment, Cooking Appliances, Washing & Drying Equipment, Heating & Cooling Appliances, and Others}, Small Appliances [Coffeemakers, Food Processors, Humidifiers, Microwave Ovens, and Others], and Smart Home Appliances), By Distribution Channel (Supermarkets & Hypermarkets, Specialty Stores, Online/E-commerce, and Others), and Regional Forecast, 2024-2032

Last Updated: May 13, 2024 | Format: PDF | Report ID: FBI107020



Play Audio Listen to Audio Version

The global home appliances market size was valued at USD 708.15 billion in 2023 and is projected to grow from USD 743.56 billion in 2024 to USD 1,203.11 billion by 2032, exhibiting a CAGR of 6.20% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with home appliances experiencing lower-than-anticipated-anticipated demand across all regions compared to pre-pandemic levels. Based on our analysis, the global market exhibited a decline of 4.65% in 2020 as compared to 2019.

The improving quality of life of individuals worldwide, high consumer spending, including per capita income and shifting consumer demands are some factors that propel home appliance market growth. Work from home culture became popular during the pandemic, contributing to the rising demand for white goods globally. In 2020, people spent their time at home, which encouraged them to redesign and modify their home spaces, which helped in increasing the demand for home appliances. Growing population and rising consumer spending power, particularly in developing countries, have encouraged diverse lifestyles, driving market growth. Also, technological advancements have led to the development of smart appliances, which are more energy-efficient and offer cutting-edge features that lure consumers and boost overall market growth.

Companies are focusing on implementing agile operations, accelerating digital transformation, and establishing variable cost structures to emerge from the pandemic stronger. The coronavirus pandemic pushed consumers toward e-commerce websites due to the temporary closure of physical stores. This factor has significantly increased online purchases of home appliances after the COVID-19 outbreak.

Home Appliances Market Trends

Growing Traction for Smart Home Appliances to Influence Consumer Behavior

Intelligent home appliances use advanced technologies, such as artificial intelligence, the Internet of Things, touchless tech, and integrated smart home tech, that give users several benefits such as safety, security, and convenience for their homes. The high potential for growth in electronic appliances with innovative features due to the growing demand from high-tech users worldwide is boosting the market growth of smart home appliance.

Furthermore, moving from singular to multi-functionality is a new trend for smart appliances, positively impacting the home appliances market. Growth in urbanization has led people to move into smaller spaces, which means less and less counter space availability for the latest kitchen appliances. This has prompted manufacturers to combine multi-functionality into a single appliance, helping consumers save space and add cost. For instance, Samsung’s Family Hub Fridge serves as a primary communication center for the home, allowing families to create schedules and also alert them of what they might need to add to their grocery list. Additionally, home appliance trends highlight wellness features. Cooking appliances, such as sous vide, air frying and steaming, offer the advantages of drawing out flavors, requiring less fat or oil and salt, and preserving healthful nutrients.

Request a Free sample to learn more about this report.

Home Appliances Market Growth Factors

Increase in Consumer Spending Power and Rising Disposable Income to Offer Impetus to Market Growth

A home appliance is an electric appliance that assists in household functions such as cooking, washing, and cleaning, among other homemaking tasks. Purchase of white goods, such as refrigerators, cooking appliances, and washing appliances, heating & cooling appliances, is attributable to rising levels of disposable incomes, growing global population, and improving living standards of the population. The growing expenditure power of consumers led to a great demand for such appliances. Brand-new white goods such as refrigerators, washing machines, air-conditioner (AC), and cooking appliances are expensive and can be afforded by a population with high disposable income.

Shifting Consumer Demand toward Technology and Environment-friendly Products is Likely to Impede Demand

Tech-savvy consumers are ready to invest in smart home appliances that improve their lives. The rapidly growing number of internet users has changed consumer behavior and the retail landscape for this industry. New technology developments for intelligent and energy-efficient appliances are crucial factors that increased the market value in 2021. Major home appliance manufacturers are highly focused on introducing efficient appliances with intelligent services that maximize energy savings to provide sustainable solutions for users. For instance, in February 2021, Panasonic Holdings Corp., a Japanese company, announced the expansion of its AI-enabled appliances, including connected refrigerators, air conditioners, and washing machines in India.


Global Semiconductor Chip Shortage to Restrain Market Expansion

The global chip shortage began before the pandemic that disrupted several industries worldwide. The global chip shortage was prompted during the pandemic due to higher demand for electronic products and disruption in the supply chains throughout. Microchips allow appliances to have advanced functions such as connecting with other intelligent devices or innovative home systems that permit individuals to control appliances using smartphones. Increased demand for consumer electronics caused a struggle in the supply chain due to microchip shortage in the market that negatively affected the electronics industry. According to the Consumer Electronics and Appliances Manufacturers Association (CEAMA), several manufacturers of consumer electronic products are facing bottlenecks in manufacturing and many companies have fallen behind in terms of export.

Home Appliances Market Segmentation Analysis

By Type Analysis

Trend for Smart Homes Coupled with Digitization across Households to Encourage Major Appliances Segment Growth

Based on type, the market is segmented into major appliances, small appliances, and smart home appliances. Major appliances segment dominated the market in 2021.

The demand for household appliances has developed into a global industry. With increasing disposable income, bigger spaces, and access to electricity, household appliances are now more affordable for a large share of the worldwide population to assist in day-to-day household chores. Connected devices evolved into the market and most appliances are connected to the internet to automate activities with less human intervention.

The recent trend of smart homes, coupled with the increasing focus of major companies to develop and launch innovative and connected home appliances, is expected to fuel the market's growth. Demand for smart white goods is driven by various factors such as the rising penetration of smart homes, increasing home development projects, and rapid IT and wireless communication developments. Rising home improvement projects in countries such as the United States, Canada, and Germany are making their way for different innovative products for residential applications. The product segment contributed a market share of 11.10% in 2021 in the global market and is poised to grow continuously over the forecast period.

To know how our report can help streamline your business, Speak to Analyst

By Distribution Channel Analysis

Due to COVID-19 Response, Online Segment to Dominate the Market in the Future

On the basis of distribution channel, the market is divided into supermarkets & hypermarkets, specialty stores, online/e-commerce, and others.

The specialty stores segment held a significant home appliances market share in 2023, accounting for more than 45% of global sales. The segment is predicted to grow steadily over the forthcoming years. specialty stores offer customers specialized services along with various discounts and coupon codes.

Though the specialty stores segment held the biggest market share in 2023, the online retail segment is also anticipated to grow at the fastest rate. Online platforms have become popular as they provide doorstep delivery with free shipping and easy exchange & return offers to capture the market share and increase appliance sales. Another major factor for the increase in online sales is the rapidly changing lifestyles of consumers, where the majority fall under the working category and have hectic schedules. The customer can choose the product from the comfort of home, reducing time, and there is no requirement to go in person, as all different products are listed on the website and applications. The rise in online sales is further fueled by options such as EMI and finance facilities.


Based on geography, the global market is categorized into Europe, North America, South America, Asia Pacific, and the Middle East & Africa.

North America Home Appliances Market Size, 2023 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample

North America is primarily driven by the enormous import of a variety of appliances, including refrigerators and washing machines in the U.S. and Canada, thereby supporting the consumption rate of these appliances. It is the world's largest regional economy and is anticipated to remain a key region in the global economy for the predictable future, mainly for developing new technologies. The high spending power of consumers, rising adoption of smart devices, and significant consumer demand for connected home appliances will propel the consumption rate of IoT-based appliances in the region.

To know how our report can help streamline your business, Speak to Analyst

According to the data presented by the Consumer Technology Association in 2019, 28.6 million units of connected home products were sold in the U.S. compared to 24 million units in 2018. In terms of household appliances such as refrigerators that work all day, consumers prefer refrigerators that are energy savers. Precise size and capacity of appliances are highly looked for when buying appliances such as freezers, refrigerators, and dishwashers. High efficiency, enhanced design, and enhanced-insulated appliances are gaining traction in the market.

In Asia Pacific, rising consumers' demand from middle-income groups for energy-efficient appliances will offer newer market growth opportunities. In 2020, according to the data presented by the China Household Electrical Appliances Association, online retail sales of washers & dryers in China reached USD 1,645.85 million, 5.6% up over the previous year. Shifting consumer trends toward premium-quality white goods and the growing middle-class population in countries such as China and India will drive market growth. The growing population in China and India will lead to more household appliances such as washing machines and refrigerators supporting the product demand.

The rising residential infrastructural construction and consumers showing interest in appliances will increase the consumption rate of household appliances among the Western European population, thereby fueling the market growth rate. The growing demand for innovative products and the popularity of technologically advanced home appliances are expected to drive the market.

List of Key Companies in Home Appliances Market

Innovative Product Features and Affordable Prices by Market Players to Help Gain Competitive Advantage

The leading companies in the white goods market have been focusing on new brands, product launches, and partnerships for expansion of the market. Key players progressively focus on launching innovative white goods to attract new consumers and boost product sales. For instance, in September 2022, Samsung Electronics launched its all-new bespoke refrigerator with 10 customizable and ultra-luxurious color combinations. In May 2022, Hisense, a white goods and electronics manufacturer, launched its new range of Wi-Fi-enabled smart home appliances in the Middle East.  

Manufacturers emphasize on new technologies to develop innovative products, increase their customer base, and generate more revenue. Some companies also focus on mergers and acquisitions to expand their product portfolio. For instance, in February 2022, Crompton Greaves Consumer Electricals announced the acquisition of Butterfly Gandhimathi Appliances Ltd., a small household appliances manufacturer, to strengthen its small domestic appliances category.



  • September 2023: BSH Home Appliances Pvt. Ltd, a global home appliance leader, launched its new range of fully automatic All Round Carefront load washing machines. With the launch of these products, Bosch continues its commitment to providing innovative solutions that ease daily tasks and enhances the lives of its customers.

  • January 2023: Electronics company Samsung launched new products to its customizable home appliances lineup, including Bespoke AI Oven and a wider selection of Bespoke refrigerator types. With the customizable designs and latest kitchen innovations, these new Bespoke category appliances work seamlessly with SmartThings to offer unmatched convenience and savings.

  • September 2022: Samsung launched its new range of semi-automatic washing machines with innovative features such as auto restart, rat protection, and an air turbo drying system.

  • August 2022: Haier China and the Investment Authority of Egypt signed a memorandum of understanding to construct an industrial complex in Egypt for USD 130 million to manufacture home appliances.

  • August 2022: Maytag, a brand by Whirlpool, launched a new laundry washer-dryer system specifically designed to remove pet hair from towels, blankets, clothes, and other household fabric items.

  • July 2022: Samsung Electronics Singapore launched new dishwashers designed for convenient, hygienic, and efficient cleaning. The products are available with smart features that assist users in controlling, monitoring, and personalizing dishwashing experiences.

  • August 2020, IFB Appliances launched two new front-load washing machines, Senator Smart Touch and Senator VXS, in the high-end segment for Indian consumers.


An Infographic Representation of Home Appliances Market

To get information on various segments, share your queries with us

The research report analyzes the market in-depth and highlights crucial aspects such as prominent companies, product types, sales channels, market dynamics. Besides this, the report provides insights into the key market trends and highlights significant industry developments. In addition to the aspects mentioned earlier, the report encompasses several factors contributing to the market's growth.

To gain extensive insights into the market, Request for Customization

Report Scope & Segmentation



Study Period


Base Year


Estimated Year


Forecast Period


Historical Period


Growth Rate

CAGR of 6.20% from 2024 to 2032


Value (USD Billion)


By Type

  • Major Appliances

    • Refrigeration Equipment

    • Cooking Appliances

    • Washing & Drying Equipment

    • Heating & Cooling Appliances

    • Others

  • Small Appliances

    • Coffeemakers

    • Food Processors

    • Humidifiers

    • Microwave Ovens

    • Others

  • Smart Home Appliances

By Distribution Channel

  • Supermarkets & Hypermarkets

  • Specialty Stores

  • Online/E-commerce

  • Others

By Region

  • North America (By Type, Distribution Channel, and Country)

    • U.S.

    • Canada

    • Mexico

  • Europe (By Type, Distribution Channel, and Country)

    • Germany

    • U.K.

    • France

    • Italy

    • Spain

    • Rest of Europe

  • Asia Pacific (By Type, Distribution Channel, and Country)

    • China

    • India

    • Japan

    • Australia

    • Rest of Asia Pacific

  • South America (By Type, Distribution Channel, and Country)

    • Brazil

    • Argentina

    • Rest of South America

  • Middle East & Africa (By Type, Distribution Channel, and Country)

    • UAE

    • South Africa

    • Rest of Middle East & Africa

Frequently Asked Questions

Fortune Business Insights says that the worldwide market size was USD 708.15 billion in 2023 and is anticipated to reach USD 1,203.11 billion by 2032.

In 2023, the global market value stood at USD 708.15 billion.

Ascending at a CAGR of 6.20%, the global market will exhibit steady growth over the forecast period (2024-2032).

By type, the major appliances segment is expected to dominate the market throughout the forecast period (2022-2029).

The growing demand for technological and energy-efficient home appliances is accelerating market growth.

Whirlpool Corporation, Samsung, Haier Inc., Koninklijke Philips N.V., and Panasonic Holdings Corporation are the leading players worldwide.

North America dominated the global market in 2023.

The rising trend of smart home and consumer’s demand for connectivity among home and user along with the expanding number of brands producing a wide range of home appliances are surging the product demand.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • 2019-2032
  • 2023
  • 2019-2022
  • 223

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.