U.S. Household Appliances Market (By Product: Water Heater, Dishwasher, Refrigerator, Washing Machine, Air Conditioner; By Distribution Channel) - Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2023-2032

The U.S. household appliances market was valued at USD 55.38 billion in 2022 and it is predicted to surpass around USD 106.42 billion by 2032 with a CAGR of 6.75% from 2023 to 2032.

Key Pointers

• The cooktop, cooking range, microwave, and oven segment is projected to account for a 32% share of revenue in 2032. 
• The air conditioner segment is anticipated to grow at a CAGR of 7.55% from 2023 to 2032. 
• The brick & mortar segment made the largest contribution to the market with a revenue share of over 78% in 2022.
• The e-commerce channel is projected to register a CAGR of 7.94% from 2022 to 2032. 

Report Scope of the U.S. Household Appliances Market

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 32% share of revenue in 2032. 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 7.55% from 2023 to 2032. 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 78% 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 7.94% from 2022 to 2032. 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 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.

U.S. Household Appliances Market Segmentations:

By Product 

• Water Heater
• Dishwasher
• Refrigerator
• Cooktop, Cooking Range, Microwave, and Oven
• Vacuum Cleaner
• Mixer, Grinder, and Food Processor
• Washing Machine
• Air Conditioner

By Distribution Channel 

• Brick & Mortar
• E-Commerce