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Report
North America Small Home Appliances - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029
Market Report I 2024-02-17 I 160 Pages I Mordor Intelligence
The North American Small Home Appliances Market generated revenue of USD 42 billion in the current year, and it is poised to achieve a CAGR of more than 3.5% for the forecast period.
Post-COVID, there is a marginal impact on the small home appliances market in North America. However, traveling activities and an increase in commercial activities led to growth in the market. This is due to the increase in the proportion of online sales to that of offline sales. However, the supply chain was disrupted, and the production was discontinued in the years 2020 and 2021. The already available goods were majorly sold through online mode.
North America held more than 25% of the market globally in the production of small home appliances in the current year. The simplified lifestyle and convenience are adding to the growth of the small home appliances market in the North American region. The growth has slowed in the past few years when compared to other regions globally. However, the growth in the North American region is driven by growth in various categories of small home appliances, including vacuum cleaners, small kitchen appliances, and air purifiers. Product configurations with advanced controls are the leading trends within the small domestic appliance market. Consumers' desire for simplification is driving the demand for small home appliances market in the North American region.
Key Highlights
-Small appliances with IoT and connectedness with mobile systems, apps that make consumer life convenient, are a major force driving the market. Multifunctional small appliances with new features are expected to influence the growth of the small domestic appliance market in a positive direction. However, there is a considerable challenge for the manufacturers to synchronize a balance between the prices and the latest features, which are expected from the customer's point of view. Hence, the major players are working on different strategies to make the products more appealing to the customers. The market is expected to grow at a constant rate in the coming years.
North America Small Home Appliances Market Trends
Increase in the North America Small Appliances Average Volume per Capita
The increase in the number of households, along with hectic lifestyles, is leading to the demand for Small Home Appliances in the US market. Urbanization is also undeniably a major factor substantiating the growth of the market. Innovation, performance, and premiumization in the making of small domestic appliances are leading to the growth of the market and subsequently increasing the demand for small home appliances. Small home appliances that are portable and allow easy cooking with efficient time utilization will lead to higher sales in the upcoming years. Moreover, government regulation and mandatory use of energy-efficient appliances will facilitate the growth of energy-efficient small home appliances, including cookers, vacuum cleaners, rice cookers, and other small home appliances.
Gradual Increase in the Online sales of Small Home Appliances in North America
There has been a constant increase in the online sales of small home appliances in North America. The major reason for this is the rise of e-commerce platforms like Amazon, eBay, etc. The higher proportion of the working class in the contemporary years has led to improved lifestyles. As a result, online shopping has become a rescue option as it saves time and effort compared to offline shopping. Notably, the e-commerce platforms have come up with attractive options like EMI and discounts, which made online shopping even more appealing to a wide range of customers. The online platforms also offer a wide variety of products without compromise, compared to the offline shopping experience. All these factors are expected to further push the market in the coming years.
North America Small Home Appliances Industry Overview
The Small Domestic appliances market in North America is competitive in nature and has high fragmentation. Innovative design and differentiation of products can help manufacturers capture the market. New technologies introduction will lead companies to introduce more products to the market. Small Startups are entering the market and innovating new products to reap the benefits of rising consumption of appliances in the market. The market concentration is low. Some major players include Whirlpool Corporation, Dyson, Electrolux AB, BSH, and Mabe. The report offers Market size and forecasts for the North American Small Home Appliances Market in value (USD Billion) for all the above segments.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 INDUSTRY DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Urbanization Booming the Sector
4.2.2 Modular Kitchens are Leading the Market
4.3 Market Restraints
4.3.1 High Cost of Appliances
4.4 Market Opportunities
4.4.1 Technological Advancement is Helping the Market
4.5 Value Chain / Supply Chain Analysis
4.6 Industry Attractiveness - Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Insights of Technology Innovations in the Market
4.8 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 By Product
5.1.1 Vacuum Cleaners
5.1.2 Food Processors
5.1.3 Coffee Makers
5.1.4 Irons
5.1.5 Toasters
5.1.6 Grills and Roasters
5.1.7 Hair Dyers
5.1.8 Other Small Home Appliances
5.2 By Distribution Channel
5.2.1 Multi-Branded Stores
5.2.2 Exclusive Stores
5.2.3 Specialty Stores
5.2.4 Online
5.2.5 Other Distribution Channels
5.3 By Geography
5.3.1 United States
5.3.2 Canada
5.3.3 Mexico
6 COMPETITIVE LANDSCAPE
6.1 Market Competition Overview
6.2 Company Profiles
6.2.1 Whirlpool
6.2.2 Dyson
6.2.3 Electrolux AB
6.2.4 BSH
6.2.5 Mabe
6.2.6 Bosch
6.2.7 Samsung
6.2.8 Panasonic
6.2.9 LG
6.2.10 GE*
7 MARKET FUTURE TRENDS
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