$24.5bn
$X.Xbn
42,102
144
$X.Xbn
A volatile housing market has shaped the performance of major appliance manufacturers. The pandemic interrupted growth, as exports slumped and construction markets were restricted. The market recovered rapidly as the year wore on. The robust housing market in 2021 supported manufacturer growth, while rising interest rates later cooled this expansion. Concurrently, the appreciation of the US dollar led to a drop in export sales and an increase in import penetration. As a result, the industry's revenue has been decreasing at a CAGR of 0.5% and is expected to reach $24.5 billion by the end of 2024, with slight weakness anticipated with a 2.8% dip in 2024 alone. Profit margins are set to experience similar volatility.
Industry revenue has declined at a CAGR of 0.5 % over the past five years, to reach an estimated $24.5bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
Whirlpool Corp | 5,187.1 | 433.2 | 8.4 | |
Electrolux AB | 4,330.6 | 190.6 | 4.4 | |
Haier Group Corporation | 3,388.7 | 230.1 | 6.8 |
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Industry revenue is measured across several distinct product and services lines, including Cooking appliances , Refrigerators and home freezers and Laundry equipment. Cooking appliances is the largest segment of the Major Household Appliance Manufacturing in the US.
Cooking appliances continue to dominate the market
Major household appliance manufacturers produce major household cooking appliances, refrigerators and home freezers, household laundry equipment and other major electrical and nonelectrical household appliances like dishwashers, garbage disposal units, water heaters and trash compactors. Small cooking appliances (e.g. hot plates), fans, vacuums and electric irons are not included.
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NAICS 33522 - Major Household 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.
Shifts in interest rates have created volatility for manufacturers. Low-interest rates in recent years boosted growth as the housing market boomed. However, recent rate hikes...
Learn about an industry's products and services, markets and trends in international trade.
Cooking appliance sales have climbed. Cooking appliances comprise the largest segment for manufacturers. Tax credits in the Inflation Reduction Act for ENERGY STAR-certified ...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
The Great Lakes and Southeast are close to large ports, providing easy access to imports and transports. The Great Lakes region allows for easy access to Canada, while the So...
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.
The household manufacturing sector is fiercely competitive. Companies contend on various fronts, including pricing, features, quality, design, performance, service, brand rep...
Learn about the performance of the top companies in the industry.
Whirlpool has expanded its market share through strategic mergers and acquisitions. In November 2022, the company completed its acquisition of InSinkErator, the world’s large...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Manufacturing must comply with various environmental and safety laws. These include federal, state, or local licenses for wastewater discharges, air emissions, and hazardous ...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Profit inched up despite headwinds. While domestic manufacturers have faced climbing import penetration, the increased sale of smart appliance products has increased profit.
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 Household Appliance Manufacturing in the US industry in United States is $24.5bn in 2024.
There are 144 businesses in the Major Household Appliance Manufacturing in the US industry in United States, which has grown at a CAGR of 2.7 % between 2019 and 2024.
The market size of the Major Household Appliance Manufacturing in the US industry in United States has been declining at a CAGR of 0.5 % between 2019 and 2024.
Over the next five years, the Major Household Appliance Manufacturing in the US industry in United States is expected to grow.
The biggest companies operating in the Major Household Appliance Manufacturing market in United States are Whirlpool Corp, Electrolux AB and Haier Group Corporation
Household cooking appliances manufacturing and Household refrigerator and home freezer manufacturing are part of the Major Household Appliance Manufacturing in the US industry.
The company holding the most market share in United States is Whirlpool Corp.
The level of competition is high and increasing in the Major Household Appliance Manufacturing in the US industry in United States.