North America Major Home Appliances Market Size (2024 - 2029)

The North American major home appliances market is characterized by its mature and homogeneous nature, with growth driven by the expanding housing market and increasing disposable income. Despite challenges such as high manufacturing costs and trade tensions, the market's expansion is supported by innovations in product design and functionality, as well as a shift towards import-driven sales due to currency appreciation. The market's dynamics are further influenced by the impact of COVID-19 on production and supply chains, leading to a significant rise in online sales.

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Market Size of North America Major Home Appliances Industry

North America Major Home Appliances Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 3.00 %
Market Concentration High

Major Players

North America Major Home Appliances Market Major Players

*Disclaimer: Major Players sorted in no particular order

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North America Major Home Appliances Market Analysis

The North American major home appliances market is valued at USD 79.74 billion and is expected to register a CAGR of greater than 3% during the forecast period.

The Major Home Appliance Market of North America is homogeneous and mature, driven by demand from the growing housing market and rising disposable income. Due to the high cost of manufacturing in the United States, many companies are offshoring products from other countries. Additionally, the appreciation of the US currency has led to more import-driven sales than export-driven. Nevertheless, the growth in disposable income and the expansion of the housing market have mitigated the negative effects associated with the appreciation of the dollar. The major Home Appliances Market in Canada is growing moderately with the rising costs of manufacturing in Canada. Therefore, many manufacturers are shifting their factories to the United States, where the labor is cheap.

An increase in trade tensions between China and the US might restrain the growth of the market. Refrigerator innovations to improve food preservation in a waste reduction effort and variable pressures in dishwashers to improve the cleaning performance are some of the innovations in the market. Manufacturers are innovating new products in the market to remain competitive in the market and introduce people to new products. Moreover, aesthetic innovations such as the expansion of color and painted steel are driving the market further. On taking account of all these factors, the market is expected to grow at a constant rate.

COVID-19 had a considerable impact on the North America Major Home Appliances Market due to the discontinuities in the production of appliances as a result of the stringent norms in major industrial areas. The supply chain was completely disrupted. However, the proportion of online sales of Major Home Appliances has increased significantly.

North America Major Home Appliances Industry Segmentation

Major Home Appliances include all the large appliances that are useful for daily household activities, such as refrigerators, televisions, Air conditioners, Washing machines, etc. North America Major Home Appliances Market is segmented By Product (Refrigerators, Freezers, Dishwashing Machines, Washing Machines, Air Conditioners, and Others), By Distribution Channel (Multi-Branded Stores, Exclusive Stores, Specialty Stores, Online and Other Distribution Channels), and By Geography(United States, Canada, and Mexico). The report offers market size and forecasts for the North America Major Home Appliances Market in value (USD) for all the above segments.

By Product
Refrigerators
Freezers
Dishwashing Machines
Washing Machines
Microwave Ovens
Other Products
By Distribution Channel
Multi-Branded Stores
Exclusive Stores
Specialty Stores
Online
Other Distribution Channels
By Geography
United States
Canada
Mexico
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North America Major Home Appliances Market Size Summary

The North American major home appliances market is characterized by its maturity and homogeneity, driven by factors such as the expanding housing market and increasing disposable income. The market is experiencing a shift in manufacturing dynamics, with companies offshoring production due to high manufacturing costs in the United States and Canada. This has led to a rise in import-driven sales, although the appreciation of the US dollar has not significantly hindered market growth. Innovations in appliance technology, such as advancements in refrigeration and dishwasher performance, alongside aesthetic enhancements, are propelling the market forward. Despite challenges like trade tensions with China, the market is expected to maintain a steady growth trajectory.

The COVID-19 pandemic significantly impacted the market, disrupting supply chains and production. However, it also accelerated the shift towards online sales channels, driven by increased internet penetration and the convenience of e-commerce platforms. The high income levels and urbanization in North America have facilitated the adoption of major home appliances, contributing to a rise in average revenue per capita. The market is dominated by a few key players, including Electrolux AB, Whirlpool Corporation, Maytag, Panasonic Corporation, and Haier Group, who compete vigorously to offer a diverse range of durable consumer goods. Recent accolades for product design and innovation highlight the competitive and dynamic nature of the market.

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North America Major Home Appliances Market Size - Table of Contents

  1. 1. INDUSTRY DYNAMICS AND INSIGHTS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

    3. 1.3 Market Restraints

    4. 1.4 Value Chain / Supply Chain Analysis

    5. 1.5 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.5.1 Bargaining Power of Buyers/Consumers

      2. 1.5.2 Bargaining Power of Suppliers

      3. 1.5.3 Threat of New Entrants

      4. 1.5.4 Threat of Substitute Products

      5. 1.5.5 Intensity of Competitive Rivalry

    6. 1.6 Insights into Technological Advancements in the Industry

    7. 1.7 Impact of COVID-19 on the Market

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Product

      1. 2.1.1 Refrigerators

      2. 2.1.2 Freezers

      3. 2.1.3 Dishwashing Machines

      4. 2.1.4 Washing Machines

      5. 2.1.5 Microwave Ovens

      6. 2.1.6 Other Products

    2. 2.2 By Distribution Channel

      1. 2.2.1 Multi-Branded Stores

      2. 2.2.2 Exclusive Stores

      3. 2.2.3 Specialty Stores

      4. 2.2.4 Online

      5. 2.2.5 Other Distribution Channels

    3. 2.3 By Geography

      1. 2.3.1 United States

      2. 2.3.2 Canada

      3. 2.3.3 Mexico

North America Major Home Appliances Market Size FAQs

The North America Major Home Appliances Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)

Electrolux AB, Whirlpool Corporation., Maytag, Panasonic Corporation and Haier Group are the major companies operating in the North America Major Home Appliances Market.

North America Major Home Appliances Market Report Snapshots

North America Major Home Appliances Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)