North America Major Home Appliances Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

North America Major Home Appliances Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The major Household appliance manufacturing is highly globalized. The major home appliance market of North America is homogeneous and matured, is 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 imports 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.

Canadian large home appliance market is growing moderately with rising costs of manufacturing in Canada. Therefore, many manufacturers are shifting their factories to the United States where cheap labors are available.

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 new 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 innovation such as expansion of color, painted steels, are driving the market further. For instance, Electrolux (Frigidaire) in 2019 introduced a fully customizable refrigerator drawer that fully converts from refrigerator to freezer.

Key Market TrendsRanges and Ovens Large Appliances are Growing

Ranges and Ovens category is projected to have higher growth in the North American market as compared to other large appliances. The increasing trend of modular kitchen is driving the growth of this segment. Convection ovens dominated the market, while grill ovens are expected to show a higher growth rate in the North American market large Appliance market. There are large shipments of electric ranges in the market in the last few years. Ovens have a comparatively higher penetration in North American home appliances whereas ranges have low penetration in the market. Freestanding ranges and ranges with a combination of ovens are gaining popularity in the market.

Rise in Consumption of Major Household Appliances

Trends in the consumption of major household appliances in North America are on the rise. Household appliances such as refrigerators work for 24 hours a day for households so consumers are preferring for appliances that are energy savers. Accurate size and capacity of appliances are highly looked upon while buying appliances such as refrigerators, freezers, dishwashers, etc. High efficiency, superior design, and better-insulated appliances are gaining traction in the market.

Competitive Landscape

The market is consolidated with 4-5 players occupying major market share. There is growing brand awareness among consumers in the market and the market is mainly comprised of globalized players. Players compete aggressively in the market to produce and sell a wide range of durable consumer goods such as refrigerators, laundry equipment, and dishwashers.

Electrolux AB (Frigidaire) products launched the first oven with integrated Air Fry technology. This allowed consumers to make healthier, crispy, and delicious meals while eliminating the need for an expensive, bulky countertop appliance.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned
 
Electrolux AB
Haier Electronics Group Co. Ltd
Whirlpool Corporation
Panasonic Corporation
Maytang
Fagor America
Hitachi, Ltd.
Koninklijke Philips
Midea Group
Robert Bosch*

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