Daniel Slotta
Research expert covering Greater China
Home & household appliances - statistics & facts
Since the first caveman lit a crude fire and cooked his first meal, to the smart cooking ranges of today, humans have been advancing their domestic equipment to make their lives easier. The home appliance industry, which includes electrical or mechanical devices used in a household, is a multi-billion-dollar industry with global retail sales expected to generate around 670 billion U.S. dollars in 2024. The overall appliance market is forecast to grow further over the next few years to more than 800 billion U.S. dollars in value by 2028. The leading companies in the industry include the Chinese Haier Electronics Group, the U.S.-based Whirlpool, the German BSH Home Appliances Group, the Swedish company Electrolux, and the South Korean multinational giant LG Electronics.
