China Smart Home Appliances Market Size & Outlook, 2022-2030
- Consumer Goods
- Consumer Electronics & Appliances
- Smart Home Appliances Market Outlook
- Consumer Electronics & Appliances
China Smart Home Appliances Market, 2017-2030 (US$M)
Global Market
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China smart home appliances market highlights
- The China smart home appliances market generated a revenue of USD 3,877.0 million in 2022 and is expected to reach USD 8,970.2 million by 2030.
- The China market is expected to grow at a CAGR of 11.1% from 2023 to 2030.
- In terms of segment, smart air purifiers was the largest revenue generating product in 2022.
- Smart Air Purifiers is the most lucrative product segment registering the fastest growth during the forecast period.
Smart home appliances market data book summary
| Market revenue in 2022 | USD 3,877.0 million |
| Market revenue in 2030 | USD 8,970.2 million |
| Growth rate | 11.1% (CAGR from 2022 to 2030) |
| Largest segment | Smart air purifiers |
| Fastest growing segment | Smart Air Purifiers |
| Historical data | 2017 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Smart Washing Machines, Smart Air Purifiers, Smart TV |
| Key market players worldwide | Whirlpool Corp, LG Electronics Inc ADR, Haier Smart Home Co Ltd ADR, Samsung Electronics Co Ltd, Panasonic Holdings Corp, Robert Bosch Engineering & Business Solutions, Electrolux AB ADR, Koninklijke Philips NV, GE Aerospace, Xiaomi Corp Class B |
Other key industry trends
- In terms of revenue, China accounted for 13.4% of the global smart home appliances market in 2022.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China smart home appliances market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 8,970.2 million by 2030.
Owing to the COVID-19 pandemic, the home appliances industry in China confronted an insufficient production capacity; however, as the influence of the virus receded, the industry started gaining momentum again and, eventually, came back to its pre-COVID-19 routine.
In addition, as information published in April 2020, China’s Research Institute of the Ministry of Commerce informed that the market for home appliances in the country is projected to go through a concentrated period of renewal; hence, it is expected to benefit smart home appliances as well as healthy home appliances market in the upcoming years.
Moreover, continuous product launches have also been driving the smart home appliances market in China. For instance, in March 2021, at the Appliance & Electronics World Expo (AWE) held in Shanghai, a China-based home appliance company, Haier, announced the launch of a smart refrigerator.
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Smart Home Appliances Market Scope
Smart Home Appliances Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Koninklijke Philips NV | View profile | 73,712 | Philips Center, Amstelplein 2, Amsterdam, Netherlands, 1096 BC | www.philips.com |
| Panasonic Holdings Corp | View profile | 230,025 | 1006, Oaza Kadoma, Kadoma-shi, Osaka, Japan, 571-8501 | holdings.panasonic |
| GE Aerospace | View profile | 125,000 | One Financial Center, Suite 3700, Boston, MA, United States, 02111 | www.geaerospace.com |
| Xiaomi Corp Class B | View profile | 33,627 | Anningzhuang Road, Xiaomi Campus, Haidian District, Beijing, China, People's Republic of | www.mi.com |
| Samsung Electronics Co Ltd | View profile | 124,804 | 129, Samsung-ro, Yeongtong-gu, Gyeonggi-do, Suwon-si, Korea, Republic of, 443-742 | www.samsung.com |
| LG Electronics Inc ADR | View profile | 35,111 | Twin Tower 128, Yeoui-daero, Yeongdeungpo-gu, Seoul, Korea, Republic of, 07336 | www.lge.co.kr |
| Electrolux AB ADR | View profile | 41,869 | Street Goransgatan 143, Stadshagen, Stockholm, Sweden, SE-105 45 | www.electroluxgroup.com |
| Haier Smart Home Co Ltd ADR | View profile | 112,458 | Haier Industrial Park, Laoshan District, Shandong Province, Qingdao, China, People's Republic of, 266101 | smart-home.haier.com/cn |
| Whirlpool Corp | View profile | 59,000 | 2000 North M-63, Benton Harbor, MI, United States, 49022-2692 | www.whirlpoolcorp.com |
| Robert Bosch Engineering & Business Solutions | View profile | 10001+ | Bangalore, Karnataka, India, Asia | www.bosch-india-software.com |
China Smart Home Appliances Market Outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to Smart Home Appliances Market Outlook will help companies and investors design strategic landscapes.
Smart Air Purifiers was the largest segment with a revenue share of 34.95% in 2022.
Horizon Databook has segmented the China smart home appliances market based on smart washing machines, smart air purifiers, smart tv covering the revenue growth of each sub-segment from 2017 to 2030.
Owing to the COVID-19 pandemic, the home appliances industry in China confronted an insufficient production capacity; however, as the influence of the virus receded, the industry started gaining momentum again and, eventually, came back to its pre-COVID-19 routine.
In addition, as information published in April 2020, China’s Research Institute of the Ministry of Commerce informed that the market for home appliances in the country is projected to go through a concentrated period of renewal; hence, it is expected to benefit smart home appliances as well as healthy home appliances market in the upcoming years.
Moreover, continuous product launches have also been driving the smart home appliances market in China. For instance, in March 2021, at the Appliance & Electronics World Expo (AWE) held in Shanghai, a China-based home appliance company, Haier, announced the launch of a smart refrigerator.
- China Smart Home Appliances Market Product Outlook (Revenue, USD Million , 2017-2030)
- Smart Washing Machines
- Smart Air Purifiers
- Smart TV
- Others
- China Smart Home Appliances Market Distribution Channel Outlook (Revenue, USD Million , 2017-2030)
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Horizon Databook provides a detailed overview of country-level data and insights on the China Smart Home Appliances Market Outlook, including forecasts for subscribers. This country databook contains high-level insights into China Smart Home Appliances Market Outlook from 2017 to 2030, including revenue numbers, major trends, and company profiles.
China Smart Home Appliances Market, 2017-2030 (US$M)
China smart home appliances market statistics, by product, 2017-2030 (US$M)
