The home appliance industry includes electrical or mechanical devices used in a household. The industry is worth several hundred billion U.S. dollars annually, with projection to grow in the coming years. North America, particularly the U.S., is a valuable market for the industry, as household appliances consumption in the U.S. and Canada is forecast to jump from 84.43 billion U.S. dollars in 2014 to nearly 115 billion U.S. dollars by 2020. The Chinese Haier Electronics Group, the American companies General Electric and Whirlpool Corporation, the German Bosch and Siemens Group, the Swedish Electrolux, and the South Korean LG Electronics are the leading household appliances manufacturers worldwide. GE and Whirlpool lead their domestic market as they are the most recognized home appliance brands in the United States.
The home appliance industry is composed of two main sectors, the major domestic appliances and small domestic appliances. Large machines used at home, such as freezers, stoves, washing machines, are part of the major domestic appliance category. Shipments of major home appliances in the U.S. are forecast to reach the highest figure to date in 2016, when 75.5 million units are projected to the shipped in the country.
Within the major home appliance sector, the kitchen and laundry segment is one of the main categories in the U.S. market. Shipments of major kitchen and laundry appliances in the U.S. are forecast to grow from around 52 million units in 2012 to nearly 65 million by 2017. Refrigerators and freezers is also an important segment within this market, as shipments of refrigerators are forecast to pass the 11 million unit mark by 2017, while shipments of freezers in the country are projected to total 1.68 million in the same year. Other important segments of this industry include washing machines, dishwashers as well as oven and ranges. Small domestic appliances, the second category of this industry, include products such as food processors, toasters and coffee makers.
A growing segment within the household appliance industry is the smart appliance market. The smart appliance market in the U.S. is projected to grow at a rapid pace in the coming years, and is estimated to bring in revenue of around 5.4 billion U.S. dollars in 2015, a significant increase from the 2011 figure when this market was valued at 1.4 billion U.S. dollars. Led by the U.S., North America is forecast to hold 27 percent of the smart appliance market share in 2020, and is projected to have an installed base of more than 30 million smart home systems.
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