Major appliances for kitchen and washing
The major appliance industry is divided into two main product segments: major kitchen appliances and major laundry appliances. The first category includes large kitchen appliances, such as freezers, refrigerators, stoves and ovens. Retail sales of refrigerators alone generated an estimated 128 billion U.S. dollars in revenue in 2022. The second category – laundry appliances – includes products such as washing machines and dryers. In 2022, washing machines had a retail value of more than 65 billion U.S. dollars. There the Asia market played the biggest part, accounting for more than half of all revenue across the world.Which companies lead the market?
The companies leading the industry include the U.S.-based Whirlpool, the South Korean multinational giant LG Electronics, the Midea Group from China, the BSH Home Appliances Group in Germany, and the Swedish company Electrolux. Despite the international presence of these leading companies, they all generate a significant portion of their revenue in their home market and are often their country’s most recognized brand. In South Korea, the most purchased washing machine brand is LG Electronics, with over 50 percent market share. In Sweden, understandably, Electrolux has the largest share of the market. Overall, close to one in three consumers pay attention to the brand when buying household appliances.
