Major Appliances Market Size, Share & Trends Analysis Report By Product (Washing Machines, Cooktops, Cooking Ranges, Microwaves & Ovens, Dishwashers, Refrigerators), By Type, By Distribution Channel, By Region, And Segment Forecasts, 2025 - 2030

Major Appliances Market Size & Trends

The global major appliances market size was estimated at USD 395.09 billion in 2024 and is projected to grow at a CAGR of 4.5% from 2025 to 2030. The U.S. Bureau of Labor Statistics' Producer Price Index (PPI) for Major Household Appliance Manufacturing indicated a significant surge in industry prices from mid-2021 to mid-2022, followed by stabilization through the end of 2022. Over the last 18 months, manufacturing costs for major household appliances have shown a consistent upward trend. Dominant players in this industry, including Samsung, LG, General Electric, and Whirlpool, are experiencing these shifts.

According to the Home Improvement Research Institute's (HIRI) June 2024 Retail Selector report, major household appliances have emerged as the highest spending category in home improvement projects in 2024. The median expenditure for a single purchase is approximately USD 1,000, surpassing costs associated with kitchen remodeling, flooring, and windows or doors. The growing integration of smart devices within residential settings is driving consumer interest, particularly as these appliances become more user-friendly and interconnected.

Energy efficiency is a key consideration for homeowners and property managers alike, given the substantial impact that major household appliances have on a residence's energy consumption. This focus on energy optimization is expected to fuel market growth as individuals look to replace older, less efficient models with newer, energy-saving options. Innovation in the appliance sector has been robust, with the number of patents granted for home appliances doubling over the past decade in Europe, according to APPLiA’s 2022-2023 Statistical Report. Notably, the energy consumption of home appliances has decreased by 50% over the past 20 years, with modern refrigerators now using only a quarter of the energy they once did.

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.

Despite the rise of online shopping, most customers still prefer purchasing major appliances in physical stores, with home centers being the most popular retail choice, as per The Home Improvement Research Institute. However, the future of appliance purchasing offers various avenues, with online channels like Amazon, Best Buy, and Costco attracting customers through convenience and delivery options. For smaller local and regional distributors, maintaining a competitive online presence is crucial. By offering features like product comparison tools and superior customer service, they can stand out in a crowded market. In addition, some brands, such as Samsung, are enhancing the in-store experience by opening experiential retail locations where customers can physically interact with products before purchasing.

Product Insights

Refrigerators accounted for a revenue share of 25.0% in 2024. Refrigerators are a key segment in the major appliances market due to their integral role in modern lifestyles, especially in developed regions like North America and Europe. The widespread adoption of refrigeration has transformed diets by increasing fresh food consumption and reducing reliance on preservation methods like fermentation. However, this shift has also introduced challenges, such as increased food waste at the household level and environmental concerns linked to refrigerants like HFCs. As countries worldwide develop cold chains, refrigerators continue to be crucial, both as essential household items and as targets for innovation to mitigate their environmental impact.

Furthermore, in developing regions like Bangladesh, the demand for refrigerators is rising significantly, driven by increased electrification, growing purchasing power, and the availability of affordable, locally manufactured options (The Business Standard, 2024).

The air conditioners market is expected to grow at a CAGR of 6.5% from 2025 to 2030. Record-breaking summer temperatures in the U.S. have significantly increased the demand for air conditioners, especially in heatwave-prone areas like Washington DC. As triple-digit temperatures persist, HVAC contractors are overwhelmed with a surge in air-conditioning replacements and emergency repairs, often struggling with supply-chain issues and extended work hours. The global air conditioning industry has grown and, in the U.S., aging units from the post-2008 housing boom are now failing, further fueling demand. In addition, the push for energy-efficient cooling solutions and upcoming EPA regulations are driving sustained growth, as hotter summers are expected to continue.

Moreover, the demand for air conditioners in the African region is rapidly increasing too, driven by factors such as population growth, urbanization, rising disposable incomes, and improving economic conditions. As air conditioning shifts from a luxury to a necessity in the face of a hotter climate, countries like Ghana, Kenya, Nigeria, and Tanzania are witnessing strong growth in the market. Despite challenges such as economic fluctuations and import restrictions, the region's appeal to investors remains strong, particularly from Chinese and South Korean manufacturers. The air conditioning industry in Africa is poised for significant expansion, with a growing focus on training and specialist knowledge to support the adoption of more advanced HVAC systems.

Type Insights

Conventional appliances accounted for a revenue share of 93.4% in 2024, due to their affordability, simplicity, and reliability. They provide straightforward functionality without the added cost and complexity of smart features, making them a cost-effective choice for many households. These appliances are valued for their ease of use, as they do not rely on firmware updates or tech support, offering a no-fuss experience. While they may lack the sleek aesthetics and advanced features of smart models, conventional appliances deliver dependable performance and durability. For those who prioritize practicality and budget, traditional appliances offer a solid, time-tested solution that continues to meet everyday needs efficiently.

The smart appliances market is expected to grow at a CAGR of 5.9% from 2025 to 2030. The rising demand for smart major appliances is driven by a growing desire for convenience, efficiency, and connectivity in managing household tasks. As technology advances, consumers increasingly seek appliances that integrate seamlessly into their busy lifestyles, offering remote control and automation through smartphone apps. Smart appliances, such as refrigerators, cooking ranges, washing machines, and air conditioners, provide enhanced features like energy consumption tracking, predictive maintenance, and real-time performance monitoring, which appeal to those looking for both practicality and sustainability. The ability to control and monitor these devices remotely not only simplifies daily routines but also supports energy efficiency and cost savings, making them an attractive choice for modern consumers. As technology continues to evolve, the appeal of smart appliances is expected to grow, reflecting a broader trend toward embracing innovative solutions for a more connected and efficient home.

Distribution Channel Insights

Sales through electronic stores accounted for a revenue share of 44.4% in 2024 in the major appliances market. Electronic stores have emerged as a prominent distribution channel in the major appliances market due to their unique ability to blend traditional retail strengths with modern technological advancements. Established Indian retailers like Vijay Sales, Croma, and Reliance Digital have demonstrated resilience and adaptability in the face of rising e-commerce competition. These stores offer a comprehensive shopping experience that combines the tactile benefits of in-store shopping with the convenience of online access. With an extensive range of high-quality appliances, expert staff, and personalized customer service, they provide a more immersive and informative shopping experience than many online platforms. The physical presence of these stores allows consumers to interact with the products, receive immediate assistance, and benefit from instant purchases and service.

Sales of major appliances through online channels are expected to grow with a CAGR of 5.4% from 2025 to 2030. The major appliances market is witnessing significant growth in the online channel, driven by a shift in consumer behavior toward digital shopping. According to Adtaxi's 2024 Ecommerce Survey, 78% of Americans are now comfortable purchasing major appliances online, an increase from 73% reported the previous year. This growing acceptance reflects broader trends in online shopping, where convenience and the ability to compare products and prices easily have become paramount. With 93% of American adults engaging in online shopping and a notable increase in daily online shoppers, the online channel has become a critical platform for major appliances, offering an efficient way to reach a vast audience.

Regional Insights

The North America major appliances market is expected to grow at a CAGR of 2.9% from 2025 to 2030. The North America major appliances market is characterized by its maturity and homogeneity, primarily driven by demand from a growing housing industry and increasing disposable incomes. In the U.S., the high costs associated with manufacturing have prompted many companies to offshore their production to other countries. This shift has been further influenced by the strengthening of the U.S. dollar, resulting in a market that relies more on imports than exports. Despite these challenges, the rise in disposable income and the robust housing industry have helped offset some of the adverse effects of the stronger dollar.

U.S. Major Appliances Market Trends

The major appliances market in the U.S. is expected to grow at a CAGR of 2.7% from 2025 to 2030. The growing number of households in the U.S. significantly contributes to the rising demand for major appliances like washing machines, dishwashers, refrigerators, air conditioners, and microwaves & ovens. According to data released by the U.S. Census Bureau and the Department of Housing and Urban Development, the sales of new single‐family houses were at a seasonally adjusted annual rate of 662,000 in February 2024, 14.3% above the revised rate of 625,000 in February 2023.

Europe Major Appliances Market Trends

The Europe major appliances market is expected to grow at a CAGR of 3.2% from 2025 to 2030.European consumers are becoming increasingly conscious of energy efficiency and environmental impact. This awareness has fueled demand for energy-efficient appliances that reduce electricity consumption and lower carbon footprint. The European Union's stringent regulations on energy efficiency, such as the Energy Labeling Regulation and the Ecodesign Directive, have further encouraged the adoption of energy-efficient appliances.

Asia Pacific Major Appliances Market Trends

The Asia Pacific major appliances market accounted for a revenue share of 44.6% in 2024. The region is home to some of the fastest-growing cities globally, with countries like China, India, Indonesia, and Vietnam experiencing substantial urban expansion. This urban growth is often accompanied by a surge in housing and infrastructure development, which in turn drives demand for household appliances. As more people move to urban areas, the need for modern homes equipped with essential appliances increases. Newly built apartments and houses are often designed to accommodate contemporary lifestyles, requiring appliances that offer convenience, efficiency, and space-saving solutions. This trend is particularly evident in densely populated cities where living spaces are often smaller, necessitating the use of compact and multifunctional appliances.

Key Major Appliances Company Insights

Many manufacturers are integrating IoT technology to develop smart appliances that connect with mobile apps or virtual assistants (like Amazon Alexa and Google Assistant). This allows users to control appliances remotely, monitor energy consumption, and receive maintenance alerts. Furthermore, to appeal to design-conscious consumers, companies are offering customizable options, such as interchangeable panels and color options. Modular designs allow consumers to upgrade parts of their appliances without needing to replace the entire unit.

Recent Developments

• In March 2024, Miele Professional, a global provider of cutting-edge, commercial-grade appliances, launched MasterLine, an innovative series of dishwashers tailored to cater to the varied requirements of both residential and commercial clientele. MasterLine redefines benchmarks for hygiene assurance, efficiency, and convenience, offering robust cleaning capabilities across dual levels, swift cycle times, and a wide range of optional accessories.

• In February 2024, LG Electronics Inc. unveiled the 14-person LG Dios Objet Collection Dishwasher, aimed at optimizing space efficiency and convenience. This new product is offered in three variations: built-in models with product heights of 10 cm and 15 cm from the kitchen floor, as well as a freestanding option. Its design eliminates the need for separate installation work, providing customers with customizable choices to suit their kitchen interior requirements.

• In January 2024, Whirlpool Corporation disclosed its collaboration with One Energy to integrate onsite wind and solar power systems into its operations in Findlay and Clyde, Ohio. Presently, the company boasts nine onsite wind turbines across four Ohio plants located in Findlay, Marion, Greenville, and Ottawa. Together, these turbines cater to 22 percent of the electrical requirements for these facilities. The newly announced projects are among the most substantial behind-the-meter renewable energy endeavors in the U.S. Upon completion, they will guarantee that the Clyde and Findlay plants derive a minimum of 70 percent of their energy needs from onsite renewable sources.

Major Appliances Market Report Scope

Global Major 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 major appliances market report based on product, type, distribution channel, and region.

• Product Outlook (Revenue, USD Million, 2018 - 2030)

  • Washing Machines

  • Cooktops

  • Cooking Ranges

  • Dishwashers

  • Refrigerators

  • Air Conditioners

  • Microwaves & Ovens

  • Vacuum Cleaners

• Type Outlook (Revenue, USD Million, 2018 - 2030)

  • Conventional Appliances

  • Smart Appliances

• Distribution Channel Outlook (Revenue, USD Million, 2018 - 2030)

  • Hypermarkets & Supermarkets

  • Electronic Stores

  • Exclusive Brand Outlets

  • Online

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia & New Zealand

    • South Korea

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa