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In 2024, China was the leading country for major appliance shipments globally, with more than *** million units traded. Europe and North America ranked second and third, with ** million and ** million units traded in the same year, respectively. Besides China, major appliance shipments decreased in 2024 across all included countries except for Russia, which saw the number of traded units increase by over *** million. Overall, some 760 million units of major appliances were sold globally in 2024.

Refrigerators rule the global home appliance industry

Major home appliances, which include refrigerators, washing machines, cookers and ovens, air conditioners, and freezers, account for over ** percent of the global appliance industry. In 2024, refrigerators held the largest share in the market segment, with revenues surpassing *** billion U.S. dollars. Following refrigerators, cookers/ovens and air conditioners were the next largest segments in the major appliances market, respectively. By 2028, the market segment for cookers and ovens is projected to overtake refrigerators as the largest segment in the market.

Major companies

Companies based in Asia have a strong presence in the global home appliances industry. Three of the top five largest global players in the home appliances industry were located in this region, including multinational giants such as Midea and Haier Smart Home in China and LG Electronics in South Korea. Other leading companies globally include U.S.-based Whirlpool, the German BSH Home Appliances Group, and the Swedish company Electrolux.