Vacuum, Fan & Small Household Appliance Manufacturing in the US - Industry Market Research Report

Vacuum, Fan & Small Household Appliance Manufacturing in the US - Industry Market Research Report

Vacuum, Fan & Small Household Appliance Manufacturing in the US

Vacuums, fans and other small household appliances remain essential components of households across the country. The performance of small appliance manufacturers is inextricably linked to the performance of the housing market, as consumers enjoy replacing and upgrading appliances when they move into their new homes. Housing starts have been on the rise, but the price of housing is climbing as well, pricing more consumers out of buying a home. Many homes are being held vacant as investment properties, which may keep the value of houses high, but it significantly cuts into appliance manufacturers' revenue. Repeated interest rate hikes levied to combat rising inflation have made it more difficult for consumers to finance large purchases, pushing housing further out of reach. The struggles brought on by the outbreak of the COVID-19 pandemic cut into revenue as production slowed, even though more consumers were focusing their spending on their living situations. Altogether, revenue has been falling at a CAGR of 2.7% to $4.0 billion over the past five years, including an estimated decline of 1.2% in 2023 alone.

Operators in this industry primarily manufacture small electric appliances and housewares. Industry products include blenders, coffee makers, blow-dryers, portable heaters and electric floor-care equipment such as vacuum cleaners, floor waxers and polishers. The industry excludes manufacturers of major household appliances (e.g. refrigerators, convection ovens, dishwashers and microwaves) as well as air conditioners.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.