Home Appliance Industry - Statistics & Facts

Home Appliance Industry - Statistics & Facts

Statistics and facts about the Home Appliance Industry

The home appliance industry – which includes electrical or mechanical devices used in a household – is a multi-billion dollar industry, as the consumption of household appliances worldwide is forecast to generate nearly 590 billion U.S. dollars in revenues by 2020. Shipment of home appliances worldwide is projected to increase from 583 million units in 2013 to 700 million units by 2017. Leading companies of this industry include the Chinese Haier Electronics Group, the U.S.-based Whirlpool, the German Bosch and Siemens Group, the Swedish company Electrolux, and the South Korean multinational giant LG Electronics.

The home appliance industry is divided into two sectors: major domestic appliances and small domestic appliances. The first category includes large machines used at home, freezers, stoves, washing machines are examples of large or major home appliances. The second category, small domestic appliances, includes products such as food processors, toasters and coffee makers, to name a few. Sales of small domestic appliances worldwide amounted to around 70 billion U.S. dollars in 2015.

A growing and promising sub-market within the home appliance industry is the smart appliance market. According to a survey about connected devices, survey respondents are most likely to use smart appliances in the coming years. Forecasts show that the value of the smart appliances market is set to increase from 509 million U.S. dollars to about 26.15 billion U.S. dollars by 2019. In line with these figures, the installed base of connected things in smart homes is also projected to increase from an estimate of 174.3 million in 2015 to just over a billion by 2018. Asia Pacific is expected to lead the global market, accounting for 35 percent of the smart appliance global market share by 2020. Europe is projected to hold 30 percent of the market share, closely followed by North America, with an estimated share of 27 percent in the same year.

Picture: freeimages.com / lilieks

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