U.S. Household Appliances Market Size, Share & Trends Analysis Report By Product (Water Heater, Dishwasher, Refrigerator, Washing Machine, Air Conditioner), By Distribution Channel, By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The U.S. household appliances market size was estimated at USD 55.34 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 6.7% from 2023 to 2030. The rise in people's disposable income levels is expected to be a driving force in the market's expansion. The pace of urbanization is rapidly expanding, which is projected to have a beneficial impact on the household appliances market. COVID-19's rapid spread across the globe posed major issues in the form of supply chain disruptions for most manufacturers, including large home appliances in the United States. Limited component availability, labor shortages, and other supply chain-related issues are some of the primary challenges that most industry players are currently focused on.

Furthermore, consumers were compelled to reconsider their priorities, adjust their buying patterns, and develop new habits. Consumers are increasingly buying appliances online, according to various reports, as they adopt social distancing. In the case of larger home appliances like refrigerators, stoves, dishwashers, dryers, and the like, the pandemic has had an impact on purchasing behavior. Do-it-yourself pursuits, such as decorating, cooking, sewing, and arts and crafts, have gained popularity among stay-at-home moms.

The market will grow due to various growth drivers such as an increase in single-person households, an increase in disposable income, an increase in the number of smart homes, an increase in the millennial population, an increase in online sales of small household appliances, an increase in the demand for smart sensors, an increase in the demand for energy optimization, and so on.

Various market trends, such as cloud technology, rising artificial intelligence technology, accelerating adoption of the Internet of Things (IoT), growing social media influence, and the introduction of innovative small household appliances, will all contribute to the growth of the US household appliances market. For instance, In October 2020, Spring USA launched new LoPRO induction range series of lightweight and designed for durability. This product features high-grade polymer housing and tempered glass on top.

Few companies penetrated the U.S. market by strengthening their supply chain. This strategy enhanced operations smoothly. The transportation of raw materials to manufacturers and the final products to the customer is expected to attract more customers. For Instance, In April 2021, Panasonic Corporation acquired the U.S. Supply chain software company, Blue Yonder, for USD 7.1 billion. This acquisition will help Panasonic to expand in the U.S.

Product Insights

The cooktop, cooking range, microwave, and oven segment is projected to account for a 31.0% share of global revenue in 2030. The U.S. real estate market is expected to witness a growth in demand for kitchen appliances, owing to the desire to save time and effort. Furthermore, increased disposable income and improved living standards are some of the other factors that would drive the demand for cooktops, cooking ranges, microwaves, and ovens in the U.S. during the forecast period.

The air conditioner segment is anticipated to grow at a CAGR of 7.5% from 2023 to 2030. Rising temperatures and rising middle-class income levels are expected to propel the growth of the air conditioner product sector upward during the projection period. Construction operations, together with rising people's living standards, will provide growth prospects for the category.

Distribution Channel Insights

The brick & mortar segment made the largest contribution to the market with a revenue share of over 77.5% in 2022. Most consumers prefer brick & mortar stores when buying household appliances due to the exclusive offerings by product specialists and after-sale services. There are many brick & mortar stores such as Target, Walmart, and Old Navy in the U.S. regarding household and kitchen appliances. These are more likely to be experienced stores that provide the consumers with a hands-on experience of how the product works.

These stores provide various options to the customers as well. Many brands have opened their experienced stores in the U.S. to gain the attention of customers.For instance, in February 2019, Samsung Electronics Co. Ltd launched its first-ever experience retail stores for the U.S. market in three locations which are New York, California, and Texas. This strategy allowed the customers to try out new products and experience them.

The e-commerce channel is projected to register a CAGR of 7.9% from 2022 to 2030. Rising internet penetration and target marketing done by companies to reach all customer touchpoints are likely to fuel the growth of this segment. The rapid expansion of e-commerce, along with growing digitalization, especially among the young and millennial population at a global level, is driving the online sales of household appliances in the U.S. Additionally, easy payment transactions and busy lifestyles of consumers are driving the online sales of the products.

Regional Insights

The growth of the housing sector across the Southeast U.S. region is expected to increase the demand for various household appliances, which will further drive the U.S. household appliances market’s growth. The region is expected to hold. For instance, according to Florida Realtors’ Chief Economist Dr. Brad O’Connor, 528,000 homes in Florida were sold in 2021, registering a 19% increase as compared to sales in 2020.

A rise in consumer spending across the Southeast U.S. region is expected to boost the growth of the household appliances market. Furthermore, according to Phoebe Fleming, Director of Research, Orlando Economic Partnership, consumer spending in Florida increased by 22.9% in 2021 as compared to 2020. The region is expected to accelerate at a CAGR of 8.2% during the forecast period.

Key Companies & Market Share Insights

The market includes both international and domestic participants. Key players focus on strategies such as innovation and new product launches in retail about household appliances in the U.S. to enhance their portfolio offerings in the market.

• In September 2022, the most sophisticated robot vacuum and mop, the Roomba ComboTM j7+, was launched by Robot Corporation, a pioneer in consumer robots, coupled with smart iRobot OS 5.0 upgrades. This robot vacuum is intended for active families with a variety of carpets, rugs, and hard floors as well as those looking for a robot vacuum that can also mop.

• In March 2022, Samsung Electronics launched a new model of its Bespoke French Door refrigerator at CES 2022. The new line combines unique and customizable designs with Samsung's latest storage and cooling innovations to provide consumers with the refrigerator they've always wanted with the convenience they truly require. Families can choose from 12 stylish glass and steel finishes to complement their kitchen, while the SpaceMax technology ensures they can comfortably store all of their groceries for all types of cooking.

• In February 2022, Spectrum Brand Holdings Inc., a leading global branded consumer products and home essentials company, announced that it had signed a definitive agreement to acquire the home appliances and cookware categories of Tristar Products, Inc. (the “Tristar Business”) for USD 325 million

• In February 2022, LG Electronics launched a new device in the dishwashing category, with features like QuadWash Pro and Dynamic Heat Dry technologies, designed with a multitude of engineering enhancements to offer consumers smarter cleaning innovation and the ultimate convenience.

• In January 2022, DaanTech, a new startup launched The Bob at the CES 2022. It is a countertop space-saving dishwasher. A UV-C cleaning cycle is an optional extra feature on the Bob. In this mode, the washer does not use water, but rather UV-C rays to disinfect items that cannot be wet, such as phones, keys, and wallets. Consumers would be thrilled to see it presented as a tabletop appliance rather than a separate machine.

• In January 2022, with its new LG WashTower and washer and dryer pair, LG Electronics (LG) demonstrated a smarter, more seamless way to do laundry. LG's enhanced Artificial Intelligence Direct Drive (AI DD) technology, proven steam technology, and an array of functions make washing and drying clothes more convenient than ever before. The new laundry pair delivers customized performance with LG's enhanced AI DD technology, which can sense load size, fabric type, and the level of soiling of a clothing article, automatically adding the appropriate amount of detergent and adjusting the wash style for optimal cleaning.

• In December 2021, FOTILE, a global leader in household appliances, launched a new flagship series of combination countertop ovens called “ChefCubii”. The product features three steam modes: bake mode, air fryer mode, and dehydrator mode.

• In May 2021, Bespoke Home 2021, a new virtual platform and global showcase for Samsung Home Appliances, was launched by Samsung Electronics. The event celebrated the global expansion of the Bespoke refrigerator lineup, as well as the upcoming global launch of the Bespoke Kitchen package, new lifestyle appliances, and integrated IoT solutions—all of which can be more personalized, flexible, and intelligent.

• In May 2021, Whirlpool Corporation collaborated with VTEX, a multinational tech company that provides a global, fully integrated end-to-end commerce solution, to play a key role in Whirlpool’s digital commerce strategy.

• In April 2021, Panasonic Corporation acquired Blue Yonder, the leading end-to-end, digital fulfillment platform provider, for USD 7.1 billion. This acquisition was aimed at helping Panasonic expand in the U.S.

• In February 2021, Whirlpool Corporation virtually displayed its latest appliance innovations in kitchen and laundry appliances at the 2021 NAHB International Builder’s Show (IBSx).

Some prominent players in the U.S. household Appliances market include:

• Whirlpool Corporation

• Electrolux AB

• Fisher & Paykel Appliances Holdings Ltd.

• Frigidaire

• GE Appliances

• Haier Group

• LG Electronics

• Panasonic Corporation

• Robert Bosch GmbH

• Samsung Electronics Co., Ltd.

• SMEG S.p.A.

• Miele & Cie. KG

• iRobot Corporation

U.S. Household Appliances Market Report Scope

U.S. Household Appliances Market Report Segmentation

This report forecasts revenue growth at the country level and provides an analysis of the latest trends and opportunities in each of the sub-segment from 2017 to 2030. For this study, Grand View Research has segmented the U.S. household appliances market report based on product type, distribution channel, and region: 

• Product Outlook (Revenue, USD Billion, 2017 - 2030)

  • Water Heater

  • Dishwasher

  • Refrigerator

  • Cooktop, Cooking Range, Microwave, and Oven

  • Vacuum Cleaner

  • Mixer, Grinder, and Food Processor

  • Washing Machine

  • Air Conditioner

• Distribution Channel Outlook (Revenue, USD Billion, 2017 - 2030)

  • Brick & Mortar

  • E-Commerce

• Regional Outlook (Revenue, USD Billion, 2017 - 2030)

  • Northeast

  • Southeast

  • Southwest

  • Midwest

  • West