World Market for Major Appliances

February 2022

2021 was another volatile year that ended with retail sales exceeding 2019 levels. Major appliances continued to be in demand within a low interest rate environment. As the year ended, supply chain issues and inflation curtailed demand somewhat. Towards the end of 2021, after focusing on hygiene for two years, companies pivoted and started refocusing on long-term environmental sustainability in their products and operations. CES2022 was all about sustainability and innovation.

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Key Findings

A renewed focus on sustainability

With the focus on hygiene gradually fading after two years of the pandemic, companies are refocusing on long-term environmental sustainability in their products and operations. The near-term goal includes being carbon neutral in their own operations, while the longer-term goal is to reduce their products’ impact on the environment.

Interoperability

The last two years saw announcements from the Connectivity Standards Alliance (Matter) and Home Connectivity Alliance (HCA) on initiatives to make the smart home a seamless experience for consumers. Both alliances are working towards common standards for device-to-device and cloud-to-cloud interoperability. Promising a more seamless experience integrating products from different brands and unlocking value-added features.

Cross-industry collaboration

Appliance companies have been forming partnerships and pursuing M&A deals to increase the value added of their products. Partnerships with meal kit companies enable a consumer to cook a greater variety of healthy recipes with greater precision and less food waste.

Migration from gas to electric and induction cooking

There is a growing disagreement in the US over the use of natural gas in new homes and commercial buildings. Regulators cannot agree on whether natural gas can be considered a green energy source. This has led to states enacting laws for and against natural gas piping to homes and commercial buildings. Ultimately, in the long term, consumers are trending towards induction and vitroceramic built-in hobs.

Omnichannel and D2C sales trending for major appliances

Chinese e-commerce platforms see major appliances as one of their next big growth drivers. In 2020, online sales of appliances exceeded those in retail stores for the first time. E-commerce platforms are working closely with appliance companies to make the purchase of small and major appliances online frictionless.

Scope

introduction

Examining five trends shaping major appliances in 2021
The market exceeded 2019 levels in 2021
Major appliances: growth and per household consumption by category
Overview: region size and growth by category in 2021
Overview: category size and growth by region in 2021
Chinese e-commerce platforms see appliances as a growth sector
Asia Pacific consumers continue to buy from the big five companies
Chinese and Korean companies benefit from supply chain challenges
Spotlight on Haier and its pivot to scenario-based ecosystems in China
Fotile Kitchenware and Robam Group are two standout growth companies
Examining five trends shaping major appliances in 2021
1. A renewed focus on sustainability
1. Samsung’s SmartThings Energy provides the ability to view detailed home energy usage
1. Companies used their CES2022 airtime to talk about sustainability
2. Interoperability standards have emerged
2. Interoperability standards have emerged
3. Cross-industry collaboration
3. A growing level of partnerships in the kitchen
4. Migration from gas to electric and induction cooking
4. No consensus on the “green” status of natural gas in the US
5. Omnichannel and D2C sales increasing for major appliances
5. Online share of consumer appliances in China exceeded 50% in 2020 for the first time
Global snapshot of dishwashers
Global snapshot of home laundry appliances
Global snapshot of large cooking appliances
Global snapshot of microwaves
Global snapshot of refrigeration appliances
Regional snapshot: Asia Pacific
Regional snapshot: North America
Regional snapshot: Latin America
Regional snapshot: Western Europe
Regional snapshot: Middle East and Africa
Regional snapshot: Eastern Europe
Regional snapshot: Australasia

Consumer Appliances

Consumer Appliances is the aggregation of major appliances and small appliances. Major appliances are an aggregate of the following categories: refrigeration appliances, home laundry appliances, dishwashers, large cooking appliances and microwaves. Small appliances are an aggregation of the following categories: food preparation appliances, small cooking appliances, vacuum cleaners, irons, personal care appliances, heating appliances and air treatment appliances.

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