Appliance companies U.S. market share - additional information
The U.S. home appliance industry is a vast market with an estimated 55.7 million units of major kitchen and laundry appliances shipped in the United States in 2013. Based on its market share of 30.4 percent, Whirlpool Corporation was the largest appliance producer in the United States in the second quarter of 2013. Although the Michigan-based company’s market share has fallen from 35.9 percent since 2008, it has maintained its position as the market leader because Whirlpool’s closest competitor, General Electric, has also seen its share fall from 18.9 percent in 2008 to 15.9 percent in the second quarter of 2013. In contrast, LG and Samsung have seen their market shares rise significantly in the same time period.
Whirlpool Corporation was founded in 1911 and, as of 2013, employs around 70,000 people across the globe. The company’s revenue amounted to over 18.75 billion U.S. dollars in 2013, the highest it has been since 2008. General Electric, the second largest appliance manufacturer in the U.S., employed around 307,000 people worldwide in 2013 and generated 146 billion U.S. dollars in revenue, a fall from the 180 billion U.S. dollar revenue in 2008.
Although Whirlpool is the leading appliance producer in the United States, it is only the second largest household appliance company worldwide based on sales in 2013. Whirlpool’s sales of 18.8 billion U.S. dollars in 2013 were eclipsed by those of the Midea Group, whose sales reached 19.6 billion U.S. dollars. Midea is a privately held Chinese company, headquartered in Guangdong, which employs approximately 110,000 people worldwide as of 2014.