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. 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.

A growing and promising sub-market within the home appliance industry is the smart appliance market. Washing machines, refrigerators and room air-conditioners are projected as the main appliance categories within the smart appliances market worldwide. By 2020, China is forecast to be the major market for smart connected major home appliances as the country is projected to account for almost half of the global market by that time.

Picture: freeimages.com / lilieks

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