Small Domestic Appliances Market Size, Share & COVID-19 Impact Analysis, By Product Type (Kitchen Appliances, Floor Cleaning Appliances, Garment Care Appliances, and Others), By Application (Household, Hotels & Restaurants, Hospitals, and Others), By Distribution Channel (Specialty Stores, Brand Stores, Online, and Others), and Regional Forecast, 2023-2030

The global small domestic appliances market size was valued at USD 185.49 billion in 2022. The market share is projected to grow from USD 193.83 billion in 2023 to USD 271.23 billion by 2030, exhibiting a CAGR of 4.92% during the forecast period.

Small home appliances are extensively used in houses, with which consumers can more effectively perform indoor activities cooking, cleaning, and personal grooming. These devices greatly help save the time and effort required for activities. Small appliances are available in different categories, such as manual, semi-automatic, and automatic, and are sold in supermarkets, hypermarkets, electronic specialty stores, and other online platforms. The increasing industrialization in several developing countries like India, South Korea, Brazil, UAE, and others is resulting in an increase in the number of households, amplifying the demand for household appliances. Moreover, key market players continuously invest in R&D activities to innovate new and attractive products, thus, fostering the market size.

COVID-19 IMPACT

Disturbances In The Supply Chains  During COVID-19 Hampered Market Growth

The COVID-19 crisis seriously impacted the overall product demand for small electronic appliances. The prevalence of various lockdowns around the world has, in turn, resulted in the closure of the production plants of appliances in all the regions, thus, creating an imbalance between the supply and demand of the products. The labour shortages in developing countries such as India, Saudi Arabia, Argentina, Bangladesh, Vietnam, and others reduced the production volume of the manufacturing units, thus hindering the market growth of small household devices. In addition, the closure of speciality stores, mega shops, and other electronic outlets owing to the multiple shutdowns in almost all countries has further hampered the market growth during 2020.

On the contrary, the COVID-19 pandemic has also generated significant business prospects for domestic players to gain the advantage of supply chain disruptions at the international level. Brands retrieval approaches, product diversification, and competitive pricing strategies have further provided an opportunity for the local manufacturers of the appliance market. However, while offline channels have been highly affected, online channels saw a demand boom during the pandemic.

LATEST TRENDS

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Inclination of Consumers towards Smart and Intelligent Home Appliance Products Influence Consumption Trends

The rising demand for home technology amongst consumers for the Internet of Things (IoT) and smart home technology is one of the key trends that have emerged recently. Smart home appliances are devices connected to the Internet or Bluetooth and controlled or monitored by remote commands from a smartphone, tablet, or other devices. Furthermore, rapid technological development and the modern lifestyle of individuals are expected to drive the adoption of smart home appliances.

Tech-savvy consumers know the latest technology and are willing to invest in connected home solutions to improve their lives and reduce stress. Additionally, manufacturers of smart home appliances are launching products, including smart water purifiers, water heaters, and smart vacuum cleaners, to meet the growing consumer demand for automated devices. Smart home devices also offer security and health support to consumers. For instance, products such as water purifiers provide real-time TDS monitoring or display the status of filters and RO membranes in real-time, and products such as IoT-enabled air coolers and air purifiers are fitted with pollutant tracking capabilities to make indoor air cleaner to breathe healthier.

DRIVING FACTORS

Rapid Urbanization in Developing Regions to Favor Market Growth

Rapid urbanization in emerging nations such as China, India, Japan, France, Brazil, and other countries is expected to boost the demand for domestic appliances. Most developing countries are experiencing explosive population growth along with infrastructural development supported by the government. Hence, increasing construction of households and commercial places is projected to drive the market's growth. According to the data of the World Bank in 2019, 56% of the world's population was dwelling in urban areas in 2019 and it is expected to reach 68% by 2050, around two-thirds of the world population.

Shift in Consumer Demand towards Home Refurbishments to Augment Market Size

The increasing prevalence of home remodelling and renovation among consumers and increasing demand for premium and branded home appliance products are anticipated to drive the demand for small domestic appliance products. Furthermore, consumers' shift towards sustainable appliances that would be energy-efficient and less environmentally harmful is expected to propel market growth.

RESTRAINING FACTORS

High Frequency of Repair & Maintenance of Small Household Appliances to Hamper Sales of the Product

Small household appliances require high repair and maintenance as they are prone to regular use, mainly in the household sector. Small home appliances such as microwaves, iron, dishwasher, coffee makers, juicers, and others do not have a longer life span, which as a result, calls for frequent repairing activities for those products. This, in turn, is further expected to restrain the market growth of small domestic devices.

SEGMENTATION

By Type Analysis

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Wide Variety of Products  to Trigger Demand for Kitchen Appliances

Based on the type, the global market is divided into kitchen appliances, garment care appliances, floor cleaning appliances, and others. e. The kitchen appliances segment is expected to dominate the market as they are widely used in various sectors, including households, restaurants, educational institutions, and other commercial places.

The kitchen appliances segment held a market share of 52.90% in 2022 in the overall small household market and is projected to grow constantly over the small domestic appliances market forecast period.

By Application Analysis

Regular Uses of Small Appliances in Households to Trigger the Demand

In terms of application, the global market is segmented into households, hotels & restaurants, hospitals, and others. The household segment is anticipated to dominate the global market of small home appliances, as most domestic appliances are used in residential sectors for daily activities.

The household segment captured the highest market share n in 2022. The segment is estimated to increase continuously at a CAGR of 5.36% in the near term.

By Distribution Channel Analysis

Availability of a Wide Variety of Brands in Specialty Stores to Increase the Growth of Products

Based on the distribution channel, the global market of small domestic appliances is segmented into speciality stores, brand stores, online, and others. The segment of speciality stores is expected to lead the market during the projection period owing to the accessibility of a range of electronic brands that help consumers select from different product categories.

The speciality store segment reached a highest market share in 2022, along with a CAGR of 4.95% over the forecasting period. Besides, online channels are estimated to increase at the highest growth rate shortly due to the increasing internet penetration in all the regions.

REGIONAL INSIGHTS

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

The Asia Pacific region will likely dominate the market with a share of 34.61% in 2022. The growing population in the region, coupled with the increasing construction of commercial and residential buildings in countries such as India, China, Japan, South Korea, Bangladesh, and others, has fostered the demand for small household appliances. Furthermore, the continuous evolution of small domestic players in the regions to offer reasonably priced appliance products is further expected to boost the market demand.

The increasing trend of home refurbishments and renovation owing to the rising disposable income of the European population is likely to augment the market's demand. Moreover, large manufacturers of home appliances are continuously investing in R&D activities to launch new products, which as a result, propels the growth of the appliance market in Europe.

The North American market of domestic appliances has experienced various prospects in the last few years owing to the increasing consumption of luxury and premium electronic products in the region. Moreover, the presence of well-established electronic brands in the U.S. has further provided an opportunity for the market to implement new product launches and business expansion in recent times, which has led to an increase in the revenue of the overall market.

The South American market of small domestic appliances is expected to grow at a CAGR of 4.61% in the forecast period, owing to the rapid industrialization and urbanization in Brazil and Argentina, among others. The growing establishment of mega stores and speciality stores of electronics in the countries has further improved the region's market condition, hence fostering the region’s demand.

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The rising initiatives of the government to facilitate infrastructural development by implementing several household construction policies have contributed to the growth of the domestic appliance market in the Middle East and Africa. Moreover, the rising consumer awareness regarding the appliance products' benefits and the increasing online platform to offer products at fair prices are projected to augment the region’s demand.

KEY INDUSTRY PLAYERS

Rising Preference for AI-based Home Appliances to Provide Opportunity for the Overall Market Growth

Consumers' demand always varies, depending on the changing needs and trends. The increasing demand for smart and intelligent home appliances and eco-friendly traits is further creating opportunities for manufacturers to launch new and sustainable products to meet the rising demand of consumers. Moreover, the key & major players in the market constantly focus on expansion, acquisition, and product launches to gain a competitive share in the entire market of small home appliances and thus snowball the market’s growth.

LIST OF KEY COMPANIES PROFILED:

• Panasonic Corporation (Japan)


• Samsung Electronics Co., Ltd. (South Korea)


• Whirlpool Corporation (U.S.)


• Electrolux AB (Sweden)


• Midea Group (China)


• Haier Appliances (China)


• BSH Hausgeräte GmbH (Germany)


• IFB Home Appliances (India)


• Hitachi, Ltd. (Japan)


• GE Appliances (U.S.)

KEY INDUSTRY DEVELOPMENTS:

• May 2022 - Whirlpool Corporation announced the launch of its new marketing organization, WoW Studios (World of Whirlpool Studios), in the U.S., and consists of a multidisciplinary creative team that will work across the company’s brand portfolio, including KitchenAid, Whirlpool, Maytag, JennAir, and Amana brands.


• November 2020- Panasonic Corporation declared its partnership with an e-commerce platform Flipkart to help boost its sales in its appliances, including washing machines, refrigerators, air conditioners, and others. This partnership is expected to have a significant impact on capturing the appliances market.


• July 2021 - Hitachi Global Life Solutions and Arçelik launched a new joint venture, ‘Arçelik Hitachi Home Appliances’ to expand its manufacturing, sales, and after-sales service for Hitachi branded home appliances in other countries of Asia Pacific, outside Japan.


• January 2020 - Electrolux AB announced the launch of its new kitchen suite of appliances, including a Double Wall Oven equipped with new features & technology to support culinary exploration.


• January 2023- GE Appliances launched a range of induction cooktop sets equipped with smart technologies like temperature control, heat monitoring and others.

REPORT COVERAGE

An Infographic Representation of Small Domestic Appliances Market

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The small domestic appliances report analyzes the market and highlights important aspects such as well-known companies, product types, and distribution channels. Additionally, the research report provides insight into key market trends and highlights key industry developments. In addition to the aspects above, the report includes several factors contributing to the market's growth.

Report Scope & Segmentation