$7.2bn
$XXX.Xm
12,060
116
$XXX.Xm
Revenue for major smart appliance manufacturers has surged, driven by decreasing prices and increased accessibility, which have enabled these products to penetrate a broader market. Rising incomes have further fueled demand, making consumers more willing to invest in luxury items like smart appliances. Although high input prices boosted revenue by allowing manufacturers to pass costs onto consumers, soaring interest rates have tempered growth by reducing downstream demand in the housing market. The pandemic has also supported revenue expansion in 2020 and 2021. Interest rates have soared as the Federal Reserve has been combatting inflation. This has raised the cost of borrowing, reducing downstream demand from the housing market and negatively impacting revenue. Overall, revenue for major smart appliance manufacturers is expected to surge at a CAGR of 23.4% to $7.2 billion over the five years to 2024, including a 27.0% increase in 2024 alone, with profit climbing as well.
Industry revenue has grown at a CAGR of 23.4 % over the past five years, to reach an estimated $7.2bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Haier Group Corporation | 413.0 | 30.4 | 7.4 | |
Whirlpool Corp | 368.8 | 25.0 | 6.8 | |
Electrolux AB | 268.7 | 0.5 | 0.2 |
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Industry revenue is measured across several distinct product and services lines, including Smart cooking appliances, Smart refrigerators and freezers and Smart laundry equipment. Smart cooking appliances is the largest segment of the Major Smart Appliance Manufacturing in the US.
Smart household cooking appliances decline in market share
Companies in this industry manufacture major smart household cooking appliances, refrigerators, freezers, laundry equipment and other major electrical and nonelectrical smart household appliances.
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NAICS 33522 - Major Smart Appliance Manufacturing in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Revenue has surged due to the adoption of major smart appliances. Rising incomes and high input prices have also boosted the industry. The trend reflects broader economic imp...
Learn about an industry's products and services, markets and trends in international trade.
Rising input prices have enabled manufacturers to pass on higher costs to consumers. This shift has increased the revenue share for smart refrigerators and smart laundry equi...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Californians seek the newest smart appliances, driving high demand. The state's tech industry influences this trend, making the West region attractive for manufacturers. Smar...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Smart appliance manufacturers face intense competition. Major players compete mainly on price and quality to capture market share. The industry is dominated by a few large co...
Learn about the performance of the top companies in the industry.
The four largest major smart appliance manufacturers control over 80.0% of the industry's revenue. High barriers to entry and frequent acquisitions maintain this strong marke...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Manufacturers aren't specifically regulated but must adhere to general laws. These include environmental regulations, data privacy rules, and product safety laws. Failure to ...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Homebuying has declined as high-interest rates have increased the cost of borrowing. Weak downstream demand from the housing market has influenced profit performance.
Including values and annual change:
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Key data sources in the US include:
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The market size of the Major Smart Appliance Manufacturing in the US industry in United States is $7.2bn in 2024.
There are 116 businesses in the Major Smart Appliance Manufacturing in the US industry in United States, which has grown at a CAGR of 7.4 % between 2019 and 2024.
The market size of the Major Smart Appliance Manufacturing in the US industry in United States has been growing at a CAGR of 23.4 % between 2019 and 2024.
Over the next five years, the Major Smart Appliance Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Major Smart Appliance Manufacturing market in United States are Haier Group Corporation, Whirlpool Corp and Electrolux AB
Manufacturing smart refrigerators and Manufacturing smart laundry equipment are part of the Major Smart Appliance Manufacturing in the US industry.
The company holding the most market share in United States is Haier Group Corporation.
The level of competition is high and steady in the Major Smart Appliance Manufacturing in the US industry in United States.