The US Small Household Appliances Market
Description
The US Small Household Appliances Market (by Category, Product, & Distribution Channel): Insights and Forecast with Potential Impact of COVID-19 (2022-2027)
Market Insight:
Small Domestic Equipment, often known as SDA or Small Household Appliances, are portable versions of electrical appliances. Examples include cooking appliances, food processing/preparation appliances, personal care, floor care, and a range of other small appliances. Room air conditioners (including window air conditioners and packaged terminal air conditioners), packaged terminal heat pumps, dehumidifiers, under-the-counter ice makers, vending machines, and drinking water coolers that are fully manufactured, charged, and hermetically sealed in a factory with five (5) pounds or less of refrigerant are examples of small appliances.
Rapid adoption of IOT technology driving smart small household appliances, as well as increased consumer knowledge regarding the evolution and use of cutting-edge technological items such as humidifiers, would have an influence on demand for the US small household appliances market in the coming years. The US small household appliances market is expected to reach US$27.17 billion in 2023, growing at a CAGR of 5.02% during the forecast period. Also, the US small household appliances market by volume is likely to rise to 410.66 million by 2023, at a CAGR of 1.58%, during the projected period.
Segment Covered:
- By Category: In terms of category, the report provides the bifurcation of the US small household appliances market into four segments: Cooking, Home Environment, Food Preparation, and Personal Care. Cooking segment held largest market share. Rise in urban population, growth in adoption of methods to conserve natural resources and reduce negative impact on the environment are considered the major factors that encouraged cooking appliances in the US small household appliances industry.
- By Product: On the basis of product, the US small household appliances market is segregated into ten segments: Small kitchen appliances, Vacuum Cleaners, Grills & roasters, Coffee machines, Microwave ovens, Irons, Hair clippers, Toasters, Hair dryers and Electric Kettles. Small kitchen appliances accounted for highest share in the US small household appliances market, due to rise in demand from consumers, surging urban population, growing number of single person household, rising urge of consumers to learn new cooking skills, paved favorable conditions for the growth of small kitchen appliances market. The US small household appliances market volume is also segmented on the basis of products. Where Small kitchen appliances held the almost 50% share of the market and is expected to grow in the future due to the rising living standards, growing consumer purchasing power, growing popularity of smart home & kitchen appliances in the region.
- By Distribution Channel: Further, the report splits the US small household appliances market into two distribution channel: Online and Other. Online channel occupied the maximum share in the market and is expected to grow at a significant CAGR. The online sales of small household appliances experienced an increase, during the ongoing COVID-19 pandemic. The US online small household appliance sales surged due to the emergence of numerous e-commerce website which offer attractive deals & discounts. In addition, the online purchase offers home delivery and easy return of products which make online shopping more reliable and convenient for millennial as well as for the working class population.
Growth Drivers
- Growing Number of Single-Person Households
- Growth in Number of Smart Homes
- Rising Millennial Population
- Surging Online Sales of Small Household Appliances
- Increased Tariffs on Raw Materials
- Rising Privacy Threats
- Cloud Technology
- Integration of Artificial Intelligence Technology
- Surge in Adoption of Internet of Things (IoT)
- Introduction of Innovative Small Household Appliances
- Driver: Growing Number of Single-Person Households
- Challenge: Increased Tariffs on Raw Materials
- Trend: Cloud Technology
The COVID-19 Analysis:
The outbreak of Coronavirus illness harmed the US small household appliance sector in 2020, as governments around the world instituted lockdowns. The dip in 2020 was not as severe, and the market recovered in 2021 as a result of increased consumer spending, an increase in the number of single-person households, the launch of new businesses, and so on. The market is likely to grow in the future as many companies introduce novel tiny household appliances and the sector makes extensive use of artificial intelligence and cloud computing.
Analysis of Key Players:
The US small household appliances market is fragmented with the presence of a large number of players majorly dominating worldwide. Key players of the US small household appliances market are:
- Samsung Electronics Co., Ltd.,
- Haier Group Corporation,
- LG Electronics Inc.,
- Whirlpool Corporation,
- Panasonic Corporation,
- Newell Brands Inc.,
- Electrolux AB,
- Robert Bosch GmbH,
- Spectrum Brands,
- Koninklijke Philips N.V.,
- Hamilton Beach Brands Holding Company
- Dyson Limited,
- Smeg SpA
Table of Contents
152 Pages
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