Major home appliances market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation - Technavio

NEW YORK, Jan. 13, 2023 /PRNewswire/ -- According to Technavio, the global major home appliances market size is estimated to grow by USD 89.95 billion from 2023 to 2027. The market is estimated to grow at a CAGR of 4.9% during the forecast period. APAC will account for 51% of the market's growth during the forecast period - For more Insights on market size Request a sample report

Global major home appliances market - Five forces
The global major home appliances market is fragmented, and the five forces analysis covers– 

• Bargaining Power of Buyers 
• The threat of New Entrants
• Threat of Rivalry
• Bargaining Power of Suppliers
• Threat of Substitutes
• Interpretation of porter's five models helps to strategize the business, for entire details – buy the report!

Global major home appliances market – Customer landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global major home appliances market - Segmentation assessment

Segment overview
Technavio has segmented the market based on the product (refrigerators and freezers, washing and drying appliances, heating and cooling appliances, and cooking appliances), distribution channel (offline and online), and geography (APAC, Europe, North America, South America, and Middle East and Africa). 

• The market share growth of refrigerators and freezers will be higher than the other segments during the forecast period. The expansion of the market is being influenced by the increase in consumer expenditure as well as the launch of technologically improved models within the category. Furthermore, the modern living standards of customers and their fast-paced lifestyles, which make it challenging for them to keep track of the food products stored in their refrigerators, are two factors that have increased the need for smart refrigerators.

Geography overview
By geography, the global major home appliances market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global major home appliances market.

• APAC will account for 51% of the market's growth during the forecast period. The rising middle-class population and the increasing income of people, which encourage them to spend more on household appliances, are primarily responsible for the market expansion in the area. Additionally, the evolving urbanization and changing lifestyle of the local population are fueling the expansion of the regional market.

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Global major home appliances market– Market dynamics

Key factor driving market growth

• Innovation and product launches are notably driving market growth.
• In the global home appliance market, technology, performance, functionality, and design make up the majority of new product innovations. Customers are also looking for gadgets that use the least amount of resources while performing a variety of functions.
• Suppliers are always enhancing their product lineup to satisfy the developing and shifting client demand. To ensure that the product sells well, some merchants also employ powerful marketing techniques and present tempting discounts.
• Rapidly developing technology has made it necessary to improve product quality and user-friendly design. As a result, versatile compact home automation systems with easy-to-use software platforms are becoming more common. All of these factors will contribute to the market's expansion throughout the forecasted period.

Leading trends influencing the market 

• Smart and connected appliances gaining traction is an emerging trend in the market.
• Growing consumer preference for smart gadgets to streamline daily tasks is a significant element anticipated to contribute to the market's optimistic growth prospects throughout the forecast period.
• The industry is additionally impacted by the rise in consumer purchasing power, the rise in nuclear families, the popularity of modular kitchens, and changes in eating patterns, among other factors.

Major challenges hindering the market growth

• Fluctuations in raw material prices and operating costs is a major challenge impeding the market.
• Home appliance market prices are influenced by a variety of factors, including labor expenses, raw material costs, distribution costs, and marketing expenditures. In order to compete in the fierce market, vendors must invest in R&D to upgrade their products with the newest technologies.
• The price of raw materials is another major obstacle for manufacturers because it immediately affects the cost of the final product and can lower their profit margins.
• The cost of transporting raw materials and finished goods is also impacted by changes in oil prices. Thus, fluctuations in prices may hamper market growth during the forecast period.

Driver, Trend & Challenges are the factor of market dynamics that states about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this major home appliances market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the major home appliances market between 2023 and 2027
• Precise estimation of the size of the major home appliances market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the major home appliances market across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of major home appliances market vendors

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Related Reports:

France Home Appliances Market by Product, and Distribution Channel - Forecast and Analysis 2023-2027: The home appliances market in France is estimated to grow at a CAGR of 4.46% between 2022 and 2027. The size of the market is forecast to increase by USD 3.62 billion. The innovation and product launch driving growth is notably driving the market growth, although factors such as fluctuations in raw material prices and operational costs may impede the market growth.

Smart Kitchen Appliance Market by Product, Distribution Channel, and Geography - Forecast and Analysis 2023-2027: The smart kitchen appliance market is estimated to grow at a CAGR of 13.4% between 2022 and 2027. The size of the market is forecast to increase by USD 13,293.08 million. The ease of use and convenience offered by smart kitchen appliances are notable driving the market growth, although factors such as lack of product and technology awareness, especially in developing regions may impede the market growth.

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Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global major home appliances market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global major home appliances market 2017 - 2021 ($ billion)

• 4.2 Product Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ billion)

• 4.3 Distribution Channel Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments 
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Refrigerators and freezers - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Refrigerators and freezers - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Refrigerators and freezers - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Refrigerators and freezers - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Refrigerators and freezers - Year-over-year growth 2022-2027 (%)

• 6.4 Washing and drying appliances - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Washing and drying appliances - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Washing and drying appliances - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Washing and drying appliances - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Washing and drying appliances - Year-over-year growth 2022-2027 (%)

• 6.5 Heating and cooling appliances - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Heating and cooling appliances - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Heating and cooling appliances - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Heating and cooling appliances - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Heating and cooling appliances - Year-over-year growth 2022-2027 (%)

• 6.6 Cooking appliances - Market size and forecast 2022-2027
• Exhibit 46: Chart on Cooking appliances - Market size and forecast 2022-2027 ($ billion)
• Exhibit 47: Data Table on Cooking appliances - Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Chart on Cooking appliances - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Cooking appliances - Year-over-year growth 2022-2027 (%)

• 6.7 Market opportunity by Product 
• Exhibit 50: Market opportunity by Product ($ billion)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments 
• Exhibit 51: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 52: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 53: Chart on Comparison by Distribution Channel
• Exhibit 54: Data Table on Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027
• Exhibit 55: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027
• Exhibit 59: Chart on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel
• Exhibit 63: Market opportunity by Distribution Channel ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 65: Chart on Market share by geography 2022-2027 (%)
• Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 67: Chart on Geographic comparison
• Exhibit 68: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027
• Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027
• Exhibit 97: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027
• Exhibit 101: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 France - Market size and forecast 2022-2027 
• Exhibit 105: Chart on France - Market size and forecast 2022-2027 ($ billion)
• Exhibit 106: Data Table on France - Market size and forecast 2022-2027 ($ billion)
• Exhibit 107: Chart on France - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on France - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 109: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 110: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 112: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 113: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 114: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 115: Matrix on vendor position and classification

• 12.3 AB Electrolux. 
• Exhibit 116: AB Electrolux. - Overview
• Exhibit 117: AB Electrolux. - Business segments
• Exhibit 118: AB Electrolux. - Key news
• Exhibit 119: AB Electrolux. - Key offerings
• Exhibit 120: AB Electrolux. - Segment focus

• 12.4 Frigidaire 
• Exhibit 121: Frigidaire - Overview
• Exhibit 122: Frigidaire - Product / Service
• Exhibit 123: Frigidaire - Key offerings

• 12.5 General Electric Co. 
• Exhibit 124: General Electric Co. - Overview
• Exhibit 125: General Electric Co. - Business segments
• Exhibit 126: General Electric Co. - Key news
• Exhibit 127: General Electric Co. - Key offerings
• Exhibit 128: General Electric Co. - Segment focus

• 12.6 Glen Dimplex Europe Holdings Ltd. 
• Exhibit 129: Glen Dimplex Europe Holdings Ltd. - Overview
• Exhibit 130: Glen Dimplex Europe Holdings Ltd. - Product / Service
• Exhibit 131: Glen Dimplex Europe Holdings Ltd. - Key offerings

• 12.7 Haier Smart Home Co. Ltd. 
• Exhibit 132: Haier Smart Home Co. Ltd. - Overview
• Exhibit 133: Haier Smart Home Co. Ltd. - Business segments
• Exhibit 134: Haier Smart Home Co. Ltd. - Key offerings
• Exhibit 135: Haier Smart Home Co. Ltd. - Segment focus

• 12.8 Hisense International Co. Ltd. 
• Exhibit 136: Hisense International Co. Ltd. - Overview
• Exhibit 137: Hisense International Co. Ltd. - Business segments
• Exhibit 138: Hisense International Co. Ltd. - Key offerings
• Exhibit 139: Hisense International Co. Ltd. - Segment focus

• 12.9 LG Electronics Inc. 
• Exhibit 140: LG Electronics Inc. - Overview
• Exhibit 141: LG Electronics Inc. - Business segments
• Exhibit 142: LG Electronics Inc. - Key news
• Exhibit 143: LG Electronics Inc. - Key offerings
• Exhibit 144: LG Electronics Inc. - Segment focus

• 12.10 MIDEA Group 
• Exhibit 145: MIDEA Group - Overview
• Exhibit 146: MIDEA Group - Business segments
• Exhibit 147: MIDEA Group - Key offerings
• Exhibit 148: MIDEA Group - Segment focus

• 12.11 Miele and Cie. KG 
• Exhibit 149: Miele and Cie. KG - Overview
• Exhibit 150: Miele and Cie. KG - Product / Service
• Exhibit 151: Miele and Cie. KG - Key offerings

• 12.12 MIRC Electronics Ltd. 
• Exhibit 152: MIRC Electronics Ltd. - Overview
• Exhibit 153: MIRC Electronics Ltd. - Key offerings

• 12.13 Panasonic Holdings Corp. 
• Exhibit 154: Panasonic Holdings Corp. - Overview
• Exhibit 155: Panasonic Holdings Corp. - Business segments
• Exhibit 156: Panasonic Holdings Corp. - Key news
• Exhibit 157: Panasonic Holdings Corp. - Key offerings
• Exhibit 158: Panasonic Holdings Corp. - Segment focus

• 12.14 Robert Bosch GmbH 
• Exhibit 159: Robert Bosch GmbH - Overview
• Exhibit 160: Robert Bosch GmbH - Business segments
• Exhibit 161: Robert Bosch GmbH - Key news
• Exhibit 162: Robert Bosch GmbH - Key offerings
• Exhibit 163: Robert Bosch GmbH - Segment focus

• 12.15 Samsung Electronics Co. Ltd. 
• Exhibit 164: Samsung Electronics Co. Ltd. - Overview
• Exhibit 165: Samsung Electronics Co. Ltd. - Business segments
• Exhibit 166: Samsung Electronics Co. Ltd. - Key news
• Exhibit 167: Samsung Electronics Co. Ltd. - Key offerings
• Exhibit 168: Samsung Electronics Co. Ltd. - Segment focus

• 12.16 Transform SR Holding Management LLC 
• Exhibit 169: Transform SR Holding Management LLC - Overview
• Exhibit 170: Transform SR Holding Management LLC - Product / Service
• Exhibit 171: Transform SR Holding Management LLC - Key offerings

• 12.17 Whirlpool Corp. 
• Exhibit 172: Whirlpool Corp. - Overview
• Exhibit 173: Whirlpool Corp. - Business segments
• Exhibit 174: Whirlpool Corp. - Key offerings
• Exhibit 175: Whirlpool Corp. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 176: Inclusions checklist
• Exhibit 177: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 178: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 179: Research methodology
• Exhibit 180: Validation techniques employed for market sizing
• Exhibit 181: Information sources

• 13.5 List of abbreviations 
• Exhibit 182: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

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