Household Appliances - Japan

Japan

Japan's Household Appliances market is projected to generate a revenue of US$24.88bn in 2024.
This market is anticipated to grow annually at a rate of 3.10% (CAGR 2024-2028).
Among the various segments in the market, the largest one is Major Appliances, with a market volume of US$17.60bn in 2024.
Comparing this to other countries globally, in China leads in terms of revenue generation, reaching US$160bn in 2024.
When considering the total number of households, the per household revenue in Japan's Household Appliances market is estimated to be US$440.40 in 2024.
Online sales are expected to contribute 38.2% of the total revenue in the Household Appliances market by 2024.
As for the market volume, it is projected to reach 135.5m pieces by 2028.
However, a slight decline of -0.0% in volume growth is expected in 2025.
Lastly, the average volume per household in Japan's Household Appliances market is forecasted to be 2.40pieces in 2024.
Japan's household appliance market is witnessing a surge in demand for smart home appliances, driven by the country's advanced technology and quest for convenience.

Key regions: Europe, Worldwide, United States, United Kingdom, India

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Analyst Opinion

The transition to more innovative and energy-efficient technology for use in households is the major driving force behind the growth of the Household Appliances market. The market is propelled by two segments. On the one hand, there is the Major Appliances segment, comprising appliances such as refrigerators, cookers, and ovens, which come with a higher price tag but are replaced less often. On the other hand, there is the Small Appliances segment, which contributes the most to volume sales. Small appliances come with a shorter lifespan, and, in most cases, consumers are easily swayed, willing and happy to exchange their small appliance for a newer model.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on Household Appliances.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, trade data, national statistical office data, third-party studies and reports, survey results from our primary research (e.g., the Statista Global Consumer Survey), as well as performance factors. In addition, we use relevant key market indicators and data from country-specific associations, such as number of households, consumer spending, and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques, such as exponential trend smoothing, for instance. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). GCS data is reweighted for representativeness.