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Major Household Appliances - US - February 2016

"Bolstered by improvement in the overall economy, sales of most types of major appliances stabilized after the end of the recession in 2009 and then started to gain ground in 2013 with further improvement in the housing and home renovation markets. Opportunities to help to accelerate sales further exist in catering to an increasingly wide array of lifestyle-related interests and needs and by promoting the increased efficiency that the newest generation of appliances provides."
- John Owen, Senior Household Analyst

This report discusses the following key topics:

  • Improvement in housing and overall economy boosts appliance sales 
  • Multiple purchases increasingly the norm, opportunity for add-on sales
  • Replacement provides sales base; other factors drive trends

For the purposes of this report, Mintel defines the major appliance market as including the following categories:

  • Clothes washers
  • Clothes dryers
  • Refrigerators
  • Freezers
  • Dishwashers
  • Ranges
  • Ovens
  • Cooktops
  • Microwaves

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Table of contents

  1. Overview

    • What you need to know
      • Definition
      • Executive Summary

        • The issues
          • Improvement in housing and overall economy boosts appliance sales
            • Figure 1: Total US sales and fan chart forecast of major household appliances, at current prices, 2010-20
          • Multiple purchases increasingly the norm, opportunity for add-on sales
            • Figure 2: Type(s) of appliance purchased, November 2015
          • Replacement provides sales base; other factors drive trends
            • Figure 3: Main reasons for most recent purchase, November 2015
          • The opportunities
            • Young adults active, omnichannel appliance shoppers
              • Figure 4: Shopping behaviors, by age, November 2015
            • Younger washer/dryer shoppers drawn to innovations in practicality
              • Figure 5: Interest in washer/dryer features, by age, November 2015
            • Capacity and convenience especially important in larger households
              • Figure 6: Interest in refrigerator/freezer features, by household size, November 2015
            • What it means
            • The Market – What You Need to Know

              • Improvement in housing and overall economy boosts appliance sales
                • All three segments benefit from rising market
                  • Replacement most common motivation among several factors
                  • Market Size and Forecast

                    • Improvement in housing and overall economy boosts appliance sales
                      • Figure 7: Total US sales and fan chart forecast of major household appliances, at current prices, 2010-20
                      • Figure 8: Total US sales and forecast of major household appliances, at current prices, 2010-20
                  • Market Breakdown

                    • All three segments benefit from rising market
                      • Figure 9: Sales of major household appliances, by segment, 2010-15
                  • Market Factors

                    • Replacement most common motivation among several factors
                        • Figure 10: Main reason for most recent purchase, November 2015
                      • Rising consumer confidence could push appliance market higher
                        • Figure 11: University of Michigan Index of Consumer Sentiment, 2010-15
                      • Home ownership rate slips
                        • Figure 12: Homeownership rate, by age of householder, 2010-15
                    • Key Players – What You Need to Know

                      • Capacity
                        • Flexibility
                          • Smart appliances
                            • Smaller appliances for smaller spaces
                            • What’s Working?

                              • Capacity
                                • Flexibility
                                • What’s Struggling?

                                  • Smart appliances
                                  • What’s Next?

                                    • Smaller appliances for smaller spaces
                                      • Smart appliances getting smarter
                                      • The Consumer – What You Need to Know

                                        • Multiple purchases increasingly the norm, opportunity for add-on sales
                                          • Replacement provides sales base; other factors drive trends
                                            • Appliance purchasers take an active, omnichannel approach to shopping
                                              • For washers and dryers, water- and energy-efficiency draws greatest interest
                                                • Capacity and flexibility are key themes for refrigerators
                                                  • For cooking appliances, a focus on speed
                                                  • Major Appliance Purchase Incidence

                                                    • Multiple purchases increasingly the norm, opportunity for add-on sales
                                                      • Incidence of fridge/freezer purchases reflects lifestyle priorities
                                                        • Figure 13: Type(s) of appliance purchased, November 2015
                                                      • Younger buyers purchase more appliances
                                                        • Figure 14: Type(s) of appliance purchased, by age, November 2015
                                                      • Higher-ticket purchases include more appliances
                                                        • Figure 15: Type(s) of appliance purchased, by amount spent on most recent purchase, November 2015
                                                    • Main Reasons for Most Recent Appliance Purchase

                                                      • Replacement provides sales base; other factors drive trends
                                                        • Window of opportunity to promote energy savings
                                                          • Figure 16: Main reason for most recent purchase, November 2015
                                                        • Replacement less likely to be a factor in high-ticket purchases
                                                          • Appliances as lifestyle enhancements
                                                            • Figure 17: Main reason for most recent purchase, by amount spent, November 2015
                                                        • Major Appliance Shopping Behaviors

                                                          • Appliance purchasers take an active, omnichannel approach to shopping
                                                            • Figure 18: Shopping behaviors, November 2015
                                                          • Young adults active, mobile appliance shoppers
                                                            • Figure 19: Shopping behaviors, by age, November 2015
                                                        • Interest in Washer/Dryer Features

                                                          • Highest water- and energy-efficiency ratings generate greatest interest
                                                            • Figure 20: Interest in washer/dryer features, November 2015
                                                          • Younger shoppers drawn to innovations in practicality
                                                            • Figure 21: Interest in washer/dryer features, by age, November 2015
                                                        • Interest in Oven/Range Features

                                                          • A focus on speed
                                                            • Figure 22: Interest in oven/range features, November 2015
                                                          • Heavy spenders especially likely to prioritize capacity and speed
                                                            • Figure 23: Interest in oven/range features, by amount spent on most recent purchase, November 2015
                                                        • Interest in Refrigerator/Freezer Features

                                                          • Capacity and flexibility are key themes for refrigerators
                                                            • Figure 24: Interest in refrigerator/freezer features, November 2015
                                                          • Capacity and convenience especially important in larger households
                                                            • Figure 25: Interest in refrigerator/freezer features, by household size, November 2015
                                                        • Appendix – Data Sources and Abbreviations

                                                          • Data sources
                                                            • Sales data
                                                              • Fan chart forecast
                                                                • Consumer survey data
                                                                  • Abbreviations and terms
                                                                    • Abbreviations
                                                                      • Terms
                                                                      • Appendix – Market

                                                                          • Figure 26: Total US sales and forecast of major household appliances, at inflation-adjusted prices, 2010-20
                                                                          • Figure 27: Total US sales of washers and dryers, at current prices, 2010-15
                                                                          • Figure 28: Total US sales of refrigerators, freezers, and dishwashers, at current prices, 2010-15
                                                                          • Figure 29: Total US sales of ranges, ovens, cooktops, and microwaves, at current prices, 2010-15

                                                                      Companies Covered

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                                                                      Major Household Appliances - US - February 2016

                                                                      £3,277.28 (Excl.Tax)