Household Appliances - G20

The revenue in the Household Appliances market in 2024 is estimated to be US$334.80bn.
It is projected to grow annually by 4.74% (CAGR 2024-2029).
The largest segment in the market is Major Appliances, with a market volume of US$201.50bn in 2024.
When comparing globally, in China generates the highest revenue in the Household Appliances market, reaching US$160bn in 2024.
In terms of the total number of households, each household is expected to generate US$346.70 in revenue in 2024.
Online sales are expected to contribute 34.8% of the total revenue in the Household Appliances market by 2024.
The market volume is projected to reach 2.5bn pieces by 2029.
In 2025, the Household Appliances market is expected to experience a volume growth of 1.4%.
The average volume per household in the market is anticipated to be 2.41pieces in 2024.
It is worth noting that these figures and insights pertain to the Household Appliances market, which is a significant segment within the G20 countries.
In the United States, the trend in the household appliances market is a growing demand for energy-efficient and smart appliances.

Key regions: Europe, Worldwide, United States, United Kingdom, India

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Analyst Opinion

The transition to more innovative and energy-efficient technology for use in households is the major driving force behind the growth of the Household Appliances market. The market is propelled by two segments. On the one hand, there is the Major Appliances segment, comprising appliances such as refrigerators, cookers, and ovens, which come with a higher price tag but are replaced less often. On the other hand, there is the Small Appliances segment, which contributes the most to volume sales. Small appliances come with a shorter lifespan, and, in most cases, consumers are easily swayed, willing and happy to exchange their small appliance for a newer model.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on Household Appliances.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, trade data, national statistical office data, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global Survey), as well as performance factors. In addition, we use relevant key market indicators and data from country-specific associations, such as number of households, consumer spending, and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques, such as exponential trend smoothing, for instance. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Survey data is reweighted for representativeness.