Authored By: Sarah
14 Nov 2023

Billion-Dollar Household Appliance Market Analysis | Market to record USD 88.61 Bn revenue growth through 2023-2027

Market Recovery and Growth Projections 2023-2027

From 2022 to 2027, the size of the Household Appliance Market is expected to grow by USD 120.36 billion, or 5.23% CAGR. China projected an annual revenue of USD 88.61 billion in 2017, holding the greatest market share.

Leading names such as AB Electrolux, Haier Smart Home Co. Ltd., Hitachi Ltd., LG Electronics Inc., MIDEA GROUP, Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Transform SR Brands LLC, and Whirlpool Corp. are some of the major market participants when it comes to Household Appliance Market, that comes with a wide range of offerings for the consumers.

Household Appliance Market: Market Segments and Growth Forecasts

This research report will provide insights into the current market share of each segment along with growth projections for the next five years across APAC, Europe, North America, South America, Middle East and Africa - US, China, Japan, Germany, France

  • Market is segmented by Product (Major household appliances and Small household appliances), Distribution Channel (Offline and Online), and Geography (APAC, Europe, North America, South America, and MEA).
  • 50% of the market growth will originate from APAC during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Household Appliance Market size.

Billion-Dollar Household Appliance Market Analysis | Market to record USD 88.61 Bn revenue growth through 2023-2027

Snapshot of Household Appliance Market

Household Appliance Market: Trends, Drivers, Challenges

A thorough impact analysis of the numerous trends, factors, and obstacles that are anticipated to affect market growth throughout the projected period is also provided in our study. 

  • The development of the household appliance market will be significantly aided by product innovation that results in portfolio expansion and product premiumization.
  • Throughout the projected period, the market will rise primarily due to the rising adoption of integrated smart home technology.
  • A challenge that must be overcome en route to success is the volatility of raw material prices and operating expenses.

The global landscape and market segments are thoroughly analyzed by Technavio's study. It provides information on the many development elements and obstacles that could hinder market expansion as well. Find out more about the market dynamics, trends, and factors that are most likely to affect the market under consideration in our report's extensive study.

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