PUBLISHER: Grand View Research | PRODUCT CODE: 1679463
PUBLISHER: Grand View Research | PRODUCT CODE: 1679463
The global household appliances market size was estimated at USD 503.03 billion in 2024 and is expected to expand at a CAGR of 5.2% from 2025 to 2030. The global household appliances industry is driven by rising urbanization, increasing disposable incomes, and growing demand for energy-efficient solutions. Stricter government regulations and eco-conscious consumers are pushing manufacturers toward sustainable, long-lasting appliances. The integration of smart technology and IoT enhances convenience, while home renovation trends boost demand for stylish, high-performance products. Additionally, e-commerce expansion makes appliances more accessible, and government incentives further promote eco-friendly innovations, fueling market growth worldwide.
The consumer penetration of household appliances is increasing globally, driven by rising urbanization and higher disposable incomes. Consumers are prioritizing durability, aesthetics, and connectivity, leading to greater adoption of modern refrigerators, ovens, washing machines, and dishwashers. Additionally, stringent energy regulations and sustainability initiatives, such as EU Ecodesign rules, are encouraging the shift toward eco-friendly, long-lasting appliances. The ongoing home renovation boom and technological advancements are further fueling market expansion, making household appliances more accessible and essential worldwide.
The rise in household appliance ownership globally is driven by several factors beyond income growth and urbanization. Declining appliance costs due to improved manufacturing efficiencies and economies of scale have made products more affordable. Electrification in rural areas is expanding access to modern appliances in previously underserved regions. Additionally, changing consumer lifestyles, including busier schedules and a focus on convenience, are increasing demand for automated home solutions. The rise of dual-income households has also fueled the need for time-saving appliances like dishwashers and robotic vacuums. Lastly, aggressive marketing strategies and financing options from retailers and manufacturers have made it easier for consumers to purchase high-end and smart appliances.
Energy efficiency has become a key priority for homeowners and property managers, given the significant impact that major household appliances have on overall energy consumption. As a result, the growing focus on energy optimization is expected to drive market growth, with consumers increasingly replacing older, less efficient models with newer, energy-saving options.
To support this transition, the European Commission introduced three new initiatives in 2024 aimed at enhancing energy efficiency and eco-design standards for household products across the EU. As part of these efforts, a new web portal has been launched to provide accessible information on energy efficiency and regulatory compliance for consumers, manufacturers, and retailers. Additionally, new rules under EU Regulation (EU/2024/994) have been implemented to ensure the accuracy and reliability of online energy-labelled product information. These regulations require suppliers to verify their identity via eIDAS when registering products in the European Product Registry for Energy Labelling (EPREL), thereby enhancing transparency and compliance.
Furthermore, appliances like refrigerators, which can account for up to 14% of a home's energy use, have seen substantial efficiency improvements, with new models consuming less than a third of the energy of older ones. As a result, global standards such as Energy Star have become key indicators for consumers. These standards are continually updated to reflect technological advancements, leading to increased adoption. While energy-efficient appliances may have a higher upfront cost, they offer long-term savings on electricity bills, making them highly attractive in markets worldwide.
Although online shopping is on the rise, the majority of customers still prefer to buy household appliances from physical stores, with home centers being the most popular option, according to The Home Improvement Research Institute. Nevertheless, the future of appliance purchasing presents various opportunities, as online platforms like Amazon, Best Buy, and Costco attract consumers with their convenience and delivery services. For smaller local and regional distributors, having a strong online presence is essential. By incorporating features such as product comparison tools and outstanding customer service, they can distinguish themselves in a competitive landscape. Furthermore, brands like Samsung are enhancing their in-store experience by launching experiential retail locations where customers can engage with products before making a purchase.
Global Household Appliances Market Report Segmentation
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global household appliances market report on the basis of product, type, distribution channel, and region.