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. 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. Sales of major appliances generated almost 190 billion U.S. dollars in revenue in 2016. The second category, small domestic appliances, includes products such as food processors, toasters and coffee makers, to name a few.
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