Global Household Cooking & Appliance Manufacturing - Market Research Report (2014-2029)
New York, United States
Last Updated: July 2024
C2521-GLRevenue
$594.1bn
Past 5-Year Growth
Profit
$XX.Xbn
Employees
1m
Businesses
1,855
Wages
$XX.Xbn
Global Household Cooking & Appliance Manufacturing industry analysis
Buoyed by rising demand for appliances among developing economies, household cooking and appliance manufacturers have grown over the past five years. Alongside the effects of the pandemic, companies have endured rising competition as brand owners are expected to continue outsourcing manufacturing operations to improve efficiency and achieve a lower cost of production. A strong recovery following earlier disruptions helped cushion industry growth, helping raise manufacturers' sales and profit. Global industry revenue is expected to rise at a CAGR of 0.8% to $594.0 billion through the end of 2024, with forecast growth of 2.2% in the current year.
Trends and Insights
- Global income growth will bolster the industry over the next five years. Competition and consolidation will persist as top companies increase their market shares. Expect leading firms to expand aggressively in response to rising incomes.
- Retailers and wholesalers dominate the appliance market. Most household appliance purchases are made through these channels, which remain consumers' primary choice. This trend underscores the significant influence of these intermediaries on consumer decisions.
- China leads the world in manufacturing establishments. Its vast population and thriving export market drive its manufacturing dominance, making China a crucial player in global production and supply chains.
- Companies compete on price and quality. Brand reputation influences consumer choices, pushing firms to improve products. Continuous innovation is critical for competitiveness, ensuring relevance and appeal in the market.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 0.8 % over the past five years, to reach an estimated $594.1bn in 2024.
Trends and Insights
Rising GDP of developing countries and growth in advanced economies have driven revenue
- The Global Household Cooking and Appliance Manufacturing industry has experienced steady growth in recent years, primarily driven by increased household spending and home-building activity.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Improving global economic conditions expected to drive growth
- As global economic performance stabilizes, consumer spending on household appliances will rise, fueling industry growth.
Biggest companies in the Global Household Cooking & Appliance Manufacturing
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Midea Group Co. Ltd. | 25,095.1 | N/A | N/A | |
Samsung Electronics Co. Ltd. | 20,426.2 | N/A | N/A | |
Whirlpool Corporation | 19,842.6 | N/A | N/A |
To view the market share and analysis for all 6 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Laundry appliances, Refrigerators and freezers and Cooking appliances. Laundry appliances is the largest segment of the Global Household Cooking & Appliance Manufacturing.
Trends and Insights
Major household appliances make up most global revenue
- This category includes refrigerators and freezers, laundry appliances, and dishwashers.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Global Repair of Personal and Household Goods
Complementors
- Global Semiconductor & Electronic Parts Manufacturing
- Global Consumer Electronics Manufacturing
- Global Engineering Services
International industries
- Vacuum, Fan & Small Household Appliance Manufacturing in the US
- Major Household Appliance Manufacturing in the US
- Barbecue & Grill Manufacturing in the US
- Food Processor & Blender Manufacturing in the US
- Water Heater Manufacturing in the US
Table of Contents
About this industry
Industry definition
Operators in the Global Household Cooking and Appliance Manufacturing industry manufacture both major and small electric appliances for household use. Products manufactured by the industry include laundry equipment, refrigerators, freezers, dishwashers, irons, food mixers, humidifiers and shavers.
What's included in this industry?
Manufacturing household cooking appliances Manufacturing household laundry equipmentManufacturing household refrigeratorsManufacturing household freezersManufacturing household electric dishwashersManufacturing household electric garbage disposal unitsManufacturing household vacuum cleanersManufacturing portable electric heatersManufacturing household water heatersManufacturing small household electric appliances (e.g. irons, food mixers, humidifiers and shavers)Companies
Midea Group Co. Ltd.Samsung Electronics Co. Ltd.Whirlpool CorporationPurchase this report to view all 6 major companies in this industry.
Related Terms
MAJOR HOUSEHOLD APPLIANCESMALL HOUSEHOLD APPLIANCESPACE HEATERPerformance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Global income growth will bolster the industry over the next five years. Competition and consolidation will persist as top companies increase their market shares. Expect lead...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Retailers and wholesalers dominate the appliance market. Most household appliance purchases are made through these channels, which remain consumers' primary choice. This tren...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
China leads the world in manufacturing establishments. Its vast population and thriving export market drive its manufacturing dominance, making China a crucial player in glob...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Business Locations Charts
- Share of global output by region in 2024
- Share of population compared to output in each region in 2024
- Data tables
- Share of global output by region in 2024
- Detailed analysis
- Geographic spread of the industry across Global, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
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.
Analyst insights
Companies compete on price and quality. Brand reputation influences consumer choices, pushing firms to improve products. Continuous innovation is critical for competitiveness...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Given the size and scope of the global market for household appliances, there are no major players. Larger players may dominate different regions, but none are estimated to c...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Midea Group Co. Ltd.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Samsung Electronics Co. Ltd.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Whirlpool Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 3 additional companies
Detailed analysis
- Description and key data for Midea Group Co. Ltd., and factors influencing its performance in the industry
- Description and key data for Samsung Electronics Co. Ltd., and factors influencing its performance in the industry
- Description and key data for Whirlpool Corporation, and factors influencing its performance in the industry
- Description, key data and performance trends for 3 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Companies faced notable revenue volatility due to pandemic disruptions and a robust economic recovery. Production and trade were severely impacted, causing instability. The s...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Purchase costs have surged due to supply chain issues and inflation. Companies are countering these hikes with better production methods and increased prices. Enhanced effici...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources globally include:
- United Nations Comtrade
- Organization for Economic Cooperation & Development
- World Bank
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Global Household Cooking & Appliance Manufacturing industry in Global in 2024?
The market size of the Global Household Cooking & Appliance Manufacturing industry in Global is $594.1bn in 2024.
How many businesses are there in the Global Household Cooking & Appliance Manufacturing industry in 2024?
There are 1,855 businesses in the Global Household Cooking & Appliance Manufacturing industry in Global, which has declined at a CAGR of 1.4 % between 2019 and 2024.
Has the Global Household Cooking & Appliance Manufacturing industry in Global grown or declined over the past 5 years?
The market size of the Global Household Cooking & Appliance Manufacturing industry in Global has been growing at a CAGR of 0.8 % between 2019 and 2024.
What is the forecast growth of the Global Household Cooking & Appliance Manufacturing industry in Global over the next 5 years?
Over the next five years, the Global Household Cooking & Appliance Manufacturing industry in Global is expected to grow.
What are the biggest companies in the Global Household Cooking & Appliance Manufacturing market in Global?
The biggest companies operating in the Global Household Cooking & Appliance Manufacturing market in Global are Midea Group Co. Ltd., Samsung Electronics Co. Ltd. and Whirlpool Corporation
What does the Global Household Cooking & Appliance Manufacturing in Global include?
Manufacturing household cooking appliances and Manufacturing household laundry equipment are part of the Global Household Cooking & Appliance Manufacturing industry.
Which companies have the highest market share in the Global Household Cooking & Appliance Manufacturing in Global?
The company holding the most market share in Global is Midea Group Co. Ltd..
How competitive is the Global Household Cooking & Appliance Manufacturing industry in Global?
The level of competition is high and steady in the Global Household Cooking & Appliance Manufacturing industry in Global.
