How big is the Appliance Market | Share & Value Report

Q: What is the projected size of the appliance market by 2031?

The appliance market is forecast to exceed USD 98.5 billion by 2031.

Q: What is the expected CAGR of the appliance market?

The appliance market is set to grow at a compound annual growth rate of 8.7% over the forecast period.

Q: What are the major companies in the appliance market?

Haier Smart Home Co., Ltd., LG Electronics Inc., Whirlpool Corporation, Samsung Electronics Co., Ltd., and Electrolux AB are the major companies in the appliance market.

Q: Which appliances are seeing the fastest adoption globally?

Smart refrigerators and high-efficiency washing machines are currently leading adoption, especially in developed markets.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

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How big is the Appliance Market | Global Market Size & Expansion 2025

Code: MTA5120

Publication Date: Jul 2025

How Big Is the Appliance Market?

According to 绿帽社 internal database and industry insights, the appliance market was valued at USD 74.2 billion in 2024 and is estimated to exceed the valuation of USD 98.5 billion by 2031, exhibiting a CAGR of 8.7% during the forecast period.

This expansion is influenced by rising consumer spending, a strong shift toward energy-efficient and smart home appliances, increasing urbanization, and the availability of multi-functional appliances catering to modern lifestyles. The growing middle-class population across emerging economies further boosts household appliance penetration, while technology-driven innovations continue to redefine product offerings.

Growth Factors of the Appliance Market

Increasing adoption of IoT-enabled smart appliances across residential and commercial segments.
Rapid urban population growth, especially in Asia-Pacific and Latin America, expanding appliance demand.
Rising consumer focus on energy-efficient and eco-friendly solutions.
Technological innovations in kitchen and cleaning appliances with features like AI-based operations.
Expansion of e-commerce and omnichannel retail, offering competitive pricing and convenient access.
Government initiatives and rebates on sustainable appliances encouraging faster replacements.

Appliance Market Trends

The appliance industry is experiencing significant transformation due to the rise of connected ecosystems, where appliances can interact with each other and be controlled remotely. From voice-enabled air conditioners to app-integrated refrigerators, brands are prioritizing seamless user experiences. Additionally, the market is witnessing a growing trend of modular, space-saving appliances catering to compact urban living, while sustainability remains at the forefront with recyclable materials and longer-lasting product designs.

Emerging Developments in Appliance Market

The appliance market is undergoing rapid transformation driven by technological advancements and changing consumer lifestyles. Smart and connected appliances, powered by IoT and AI, are becoming mainstream, enabling predictive maintenance, usage analytics, and remote control through mobile apps. Integration with smart home ecosystems like Alexa and Google Assistant is enhancing user convenience. There is also a rising emphasis on sustainability, with manufacturers focusing on energy-efficient technologies and eco-friendly materials.