The global major appliances market size was valued at USD 245.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 5.5% from 2021 to 2028. This can be credited to the soaring demand for technologically advanced French door-based refrigerators products across the globe. The rising trend to adopt dishwashing machines is estimated to showcase the fastest growth rate over the assessment period. A surge in the adoption of cost-efficient chest-freezers in Asia Pacific is further anticipated to boost market growth. Moreover, the rising demand for freestanding cookers in the U.K. to provide precise temperature control is refueling market growth.
High demand for multi-air flow cooling refrigerators products is supporting the growth of the market for major appliances. Moreover, the rising demand for express freezing technology-based freezers in the U.S is stimulating market growth during the forecast period. However, higher price ranges of major appliances and the government regulation regarding CFC gas may obstruct the growth. At present, key players are focusing to provide glass protection technology for dishwashing machines. Hence the market is expected to perform well during the forecast period.
Growing investment from the German-based Siemens to procure Alexa voice assistance-based dishwashing machines are refueling market growth. Rapidly growing demand for cooktops and cooking ranges in China is anticipated to boost the growth of the market for major appliances. The growing demand for built-in cookers among consumers in India is driving the industry.
The global coronavirus pandemic had gravely affected the world economy. The COVID-19 crisis has shaken the global trade and the supply chain activities of the consumer goods sector. The market for major appliances had been strongly hampered during the COVID-19 era. This can be attributed to the national lockdown imposed by several government authorities across the globe. Trade activities of the distributors, traders, and the local suppliers were plunged owing to the strict government regulations enforced during the national lockdown.
Technologically advanced inverter-based microwave ovens had gained traction during the covid-19 pandemic. The rising concern for the drip-free pouring-based cookers is refueling market growth. The key players of the market are approaching online sales technology to boost the sales of the major appliances. These e-commerce portals are transforming the commercial outlook for the major appliances product which in turn will propel market growth.
The cookers and ovens segment dominated the market for major appliances and accounted for the highest revenue share of 55.0% in 2020. The growing adoption of seamless and efficient cooktops in North America owing to reduce the use of LPG. The growing adoption of the dual heat sensor-based induction cooktop in the U.S. is escalating the demand for major appliances. The rising trend to adopt the Bakelite knob control-based cooktops from the consumers of India and South Africa will further enhance the segmental growth during the assessment period.
The dishwashing machines segment will register the highest growth over the forecast period. This can be credited to the growing demand for quad wash-based dishwasher products from the consumers of Europe. Intensive Plus 70degree, Express Sparkle, LED Display are the prime features of the dishwashing machine. Freezers, washing machines, and refrigerators also reflect significant market growth during the forecast period. This can be credited to the rising demand for smart technology-based major appliances across the globe.
The offline segment dominated the market for major appliances and accounted for the largest revenue share of more than 70.0% in 2020. This can be attributed to the growing demand for deep freezers product from the consumers of the U.S. and U.K. The offline segment consists of the domestic major appliances stores, mid-scale appliances shops, supermarkets, and hypermarkets. Strong customer relationship with the local consumers will propel market growth during the forecast period.
Domestic appliances shops are supplying diversified product portfolios such as refrigerators, freezers, dishwashing machines, washing machines, and cookers and ovens. Economic transformation and the rising disposable income of the emerging economy such as China and India will build the network of appliances stores. The immediate product offering and hard cash-based offline transaction service are the major factor to accelerate the demand for major appliances through the platform of offline trading. Supportive measures taken by the major appliances manufacturers to support the affordable appliances product for the domestic distributors will help to boost market growth.
The online segment is projected to register the fastest growth during the forecast timeline. This growth is owing to the increased focus of major appliances manufacturers to adopt the E-commerce methodology. Seamless research options, easily accessible trading, ease and convenience, cost-effectiveness, and zero-dependency on the local consumers are the prime features of online trading. Mobile trading applications, web or browser-based platforms, and computer software will contribute to enhance market growth.
Asia Pacific made the largest contribution in the major appliance market and accounted for a revenue share of over 35.0% in 2020. This is due to the increasing demand for jet-spray-enabled washing machines from the consumer of China and India. Consumers in India are inclining towards the turbo wash technology for better washing performance. The market share of Japan is driven by the rising consumption rate of refrigerators and freezers. Ease of accessibility of major appliances products at a local appliances shop will contribute to boost market growth.
In Middle East & Africa, the market for major appliances is projected to witness a CAGR of 8.4 % from 2021 to 2028. This can be attributed to the increasing demand for spray arm rotation-based dishwashing machines from the consumers of Saudi Arabia and South Africa. The emerging trend in South Africa is to embrace the adaptive cooling system. The growing adoption of freezers, washing machines, and cooktops in Saudi Arabia is estimated to escalate market growth over the forecast period. Moreover, the rising demand for double door freezers and tempered glass shelves-based refrigerators will further boost market growth.
Companies' main focus is to provide intelligent appliances with advanced sensor features such as automatic alerts prior to food spoilage, reed sensor, and temperature sensor. The prime key players are focusing to support the control for humidity detection, gas, and gesture control. MOV technology is used by the key players to protect the equipment as the uncertain voltage surges. Multiple companies are launching premium dishwashing machines products to capture major share in the market. Some of the prominent players in the major appliances market include:
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Report Attribute |
Details |
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Market size value in 2021 |
USD 256.5 billion |
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Revenue forecast in 2028 |
USD 374.0 billion |
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Growth Rate |
CAGR of 5.5% from 2021 to 2028 |
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Base year for estimation |
2020 |
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Historical data |
2017 - 2019 |
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Forecast period |
2021 - 2028 |
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Quantitative units |
Revenue in USD million and CAGR from 2021 to 2028 |
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Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
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Segments covered |
Type, distribution channel, and region |
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Regional scope |
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa |
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Country scope |
U.S.; Canada; U.K; Germany; France; Rest of Europe; China; India; Japan; Rest of Asia Pacific; Brazil; Argentina; Rest of Central & South America; Saudi Arabia; South Africa; Rest of Middle East & Africa |
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Key companies profiled |
AB Electrolux; Dover Corporation; LG Electronics; Whirlpool Corporation; Samsung; Robert Bosch GmbH; Daihan Scientific; ThermoFisher Scientific; Hitachi Ltd.; Liebherr Group; GROUPE SEB; Zwilling; Fissler; Koninklijke Philips N.V.; WMF Group; Haier Group |
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Customization scope |
Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional, and segment scope. |
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Million Insights has segmented the global major appliances market on the basis of type, distribution channel, and region:
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