U.S. Household Appliances Market Size, Share & Trends Analysis Report By Product (Cooktop, Cooking Range, Microwave, And Oven, Mixer, Grinder, And Food Processor), By Distribution Channel- Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2022-2030

The U.S. Household Appliances market size was valued at US$ 52.69 billion in 2021 and is expected to hit US$ 93.15 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.9% from 2022 to 2030.

Growth Factors:

The rise in people's disposable income levels in the U.S. is expected to be a driving force in the market expansion. Rapid urbanization is projected to have a beneficial impact on the U.S. market growth.

The rapid spread of COVID-19 across the globe posed major issues in the form of supply chain disruptions for most manufacturers, including large home appliances in the United States. Limited component availability, labor shortages, and other supply chain-related issues are some of the primary challenges that most industry players are currently focused on.

Consumers were compelled to reconsider their priorities, adjust their buying patterns, and develop new habits. Consumers are increasingly buying appliances online, according to various reports, as they adopt social distancing. In the case of larger home appliances like refrigerators, stoves, dishwashers, dryers, and 0thers, the pandemic has had an impact on purchasing behavior. Do-it-yourself pursuits such as decorating, cooking, sewing, and arts and crafts have gained popularity among stay-at-home moms.

The market will grow due to various growth drivers such as an increase in single-person households, a rise in disposable income, an increase in the number of smart homes, growth of the millennial population, a rise in the online sales of small household appliances, and an increase in the demand for smart sensors and energy optimization.

Various market trends such as cloud technology, rising artificial intelligence technology, accelerating adoption of the Internet of Things (IoT), growing social media influence, and the introduction of innovative small household appliances will contribute to the growth of the U.S. market. For instance, in October 2020, Spring USA launched a new LoPRO induction range series, which is lightweight and designed for durability. This product features high-grade polymer housing and tempered glass on top.

Few companies penetrated the U.S. market by strengthening their supply chain. This strategy enhanced operations smoothly. The transportation of raw materials to manufacturers and the final products to the customer is expected to attract more customers. For Instance, in April 2021, Panasonic Corporation acquired a U.S. Supply chain software company, Blue Yonder for USD 7.1 billion. This acquisition will help Panasonic to expand in the U.S.

Report Scope of the U.S. Household Appliances Market

COVID-19 Impact Assessment on Market Landscape

Product Insights

The cooktop, cooking range, microwave, and oven segment held the largest revenue share of over 30.0% in 2021. The real estate market in the U.S. is expected to observe growth in demand for kitchen appliances owing to the desire to save time and effort. Furthermore, increased disposable income and improved living standards are some of the other factors that would drive the demand for cooktops, cooking ranges, microwaves, and ovens in the U.S. during the forecast period.

The air conditioner segment is anticipated to expand at a CAGR of 7.3% from 2022 to 2030. Rising temperatures and rising middle-class income levels are expected to propel the air conditioner segment growth during the projected period. Construction operations, together with the rising people's living standards, will give growth prospects for the category.

Distribution Channel Insights

The brick and mortar segment held the largest revenue share of over 65.0% in 2021. Most consumers prefer brick-and-mortar stores for buying household appliances due to the exclusive offerings by product specialists and after-sale services. There are many brick-and-mortar stores such as Target, Walmart, and Old Navy in the U.S. regarding household and kitchen appliances. These are more likely experience stores that provide the consumers a hands-on experience of how the product works.

These stores provide various options to the customers as well. Many brands have opened their experience stores in the U.S. in order to gain traction among customers. For instance, in February 2019, Samsung Electronics Co. Ltd. launched the first-ever experience retail stores for the U.S. market in three locations which are New York, California, and Texas. This strategy allowed the customers to try out new products and experience them.

The e-commerce segment is projected to register the fastest CAGR of 7.3% from 2022 to 2030. Rising internet penetration amongst consumers and target marketing done by companies to reach all customer touchpoints are likely to fuel the growth of this segment. The rapid expansion of e-commerce, along with the growing digitalization, especially among the young and millennial population at a global level, is driving the online sales of household appliances in the U.S. Additionally, easy payment transactions and the busy lifestyles of consumers are driving the online sales of the products.

According to eMarketer, in 2020, consumer electronics and computers, which were bought online, accounted for 49.5% of the total retail sales in the U.S. Many U.S. consumers bought the products through online retailers such as Amazon and Walmart in record numbers.

Key Companies & Market Share Insights

The market includes both international and domestic participants. Key market players focus on strategies such as innovation and new product launches to enhance their portfolio offering in the market. For instance, in February 2021, Wolf Appliance, Inc. launched four new innovations such as the Wolf induction range, wolf dual fuel range, Wolf E-series built-in Ovens, and under-counter refrigeration in a virtual showcase.

Moreover, in February 2021, Whirlpool Corporation showcased its latest appliance innovations in Kitchen and laundry appliances in the 2021 NAHB international Builder’s show through virtual experience. Similarly, in November 2019, LG Electronics introduced an enhanced ThinQ app to present consumers with a more enriching smart home experience embodying the AI strategy. The LG ThinQ app provides more seamless management of LG smart home appliances and expanded services to customers in the U.S. and other countries as well. Some prominent players in the U.S. household appliances market include: -

• Dongbu Daewoo Electronics
• Electrolux
• Fisher & Paykel Appliances Holdings Ltd.
• Frigidaire
• GE Appliances
• Haier Group Corporation
• LG Electronics
• Panasonic Corporation
• Philips Electronics
• Robert Bosch GmbH
• SAMSUNG
• SMEG
• Whirlpool Corporation

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at U.S. for the period of 2017 to 2030

• By Product
• Water Heater
• Dishwasher
• Refrigerator
• Cooktop, Cooking Range, Microwave, and Oven
• Vacuum Cleaner
• Mixer, Grinder, and Food Processor
• Washing Machine
• Air Conditioner
• By Distribution Channel
• Brick & Mortar
• E-commerce

Key Points Covered in U.S. Household Appliances Market Study:

• Growth of U.S. Household Appliances in 2022
• Market Estimates and Forecasts (2017-2030)
• Brand Share and Market Share Analysis
• Key Drivers and Restraints Shaping Market Growth
• Segment-wise
• Competition Mapping and Benchmarking
• Recommendation on Key Winning Strategies
• COVID-19 Impact on Demand for U.S. Household Appliances and How to Navigate
• Key Product Innovations and Regulatory Climate
• U.S. Household Appliances Consumption Analysis
• U.S. Household Appliances Production Analysis
• U.S. Household Appliances and Management