US Major Household Appliances Market Report 2022
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Description
This report provides comprehensive and current information and analysis of the US Major Household Appliances market including US Major Household Appliances market size, anticipated market forecast, relevant market segmentation, and industry trends for the Major Household Appliances market in the US.
Current market landscape
While the pandemic brought attention to the household category in a positive way, challenges have bubbled up as well. Nearly one in five adults report some type of issue and derailment from their original plan during their most recent appliance purchase and others simply delayed purchase altogether – reflecting the negative impact the pandemic and subsequent supply chain issues had on this market. The result is pent-up demand that will support an uptick in growth in the near term.
Future market trends in US major household appliances
As makers and marketers regain footing and rebuild inventory levels, there’s opportunity to focus on how new products can mirror consumers’ lifestyle through health/ wellness, technology, and style.
Read on to discover more about the US Major Household Appliances consumer market, read our DIY Home Improvement Retailing – US – 2022, or take a look at our other House and Home market research reports.
Quickly understand the major household appliances market
- Incidence of ownership and repertoire of appliances owned as well as intent to purchase.
- Most recent purchase experience of major household appliances.
- Factors that drove most recent purchase appliance.
- Purchase location.
- Procurement method of most recent purchase – online vs in-store as well as attitudes toward online shopping.
Covered in this major household appliances market report
Market includes: Clothes washers • Clothes dryers • Refrigerators (refrigerator freezer combinations and refrigerators without a freezer) • Freezers • Ovens • Cooktops (stand-alone) • Microwaves (stand-alone microwaves and built-in microwaves).
Expert analysis from a specialist in major household appliances market research
This report, written by Jennifer White Boehm, a leading analyst in the BPCH sector, delivers in-depth commentary and analysis to highlight current trends and add expert context to the numbers.
The pandemic provided the impetus for Americans to use their home differently, which has in turn created new perspective for what is important when purchasing a major household appliance. Buying an appliance is more than a purchase based on a need. Stylish designs, smart functionality, health/wellness, sustainability and efficacy are all points of interest that industry players must consider. As makers and marketers regain footing and rebuild inventory levels, it’s important to focus on how new products can improve the consumer’s quality of life.
Jennifer White Boehm
Director, BPCH Reports
Table of Contents
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Overview
- What you need to know
- This Report looks at the following areas
- Definition
- Market context
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Executive Summary
- Top takeaways
- Market overview
- Figure 1: Total US sales and fan chart forecast of major household appliance market, at current prices, 2016-26
- Figure 2: Major household appliance category outlook, 2022-27
- Opportunities and challenges
- Replacement drives purchase
- Figure 3: Appliance purchase drivers – Replace broken appliance, 2020-21
- Pent-up demand fuels intent to purchase
- Figure 4: Repertoire of major household appliances – Plan to own, 2021
- Supply chain issues derail purchase plan for many shoppers
- Figure 5: Recent appliance purchase experience, 2021
- Smart appliances offer upgrade opportunity
- Figure 6: Attitudes toward smart appliances, 2021
- Innovative efforts can tap into wellness and customization trends
- Leveraging online experiences
- Figure 7: Appliance purchase channel, 2017-21
- Key consumer insights
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Market Size and Forecast
- Pandemic provides catalyst for growth but limited by supply chain issues
- Figure 8: Total US sales and fan chart forecast of major household appliances market, at current prices, 2016-26
- Figure 9: Total US retail sales and forecast of major household appliances, at current prices, 2016-26
- Spending on household appliances rises significantly in wake of pandemic
- Figure 10: Average household spending on major household appliances, 2016-21
- Pandemic provides catalyst for growth but limited by supply chain issues
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Segment Performance
- COVID-19 fuels growth in all segments
- Figure 11: Sales of major household appliances, by segment, 2021
- Figure 12: Total US retail sales of major household appliances, by segment, at current prices, 2019 and 2021
- COVID-19 fuels growth in all segments
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Market Factors
- Pandemic-induced supply chain issues limits market
- Pandemic boosts at-home food sales
- Figure 13: Sales of food at home and away from home, 2010-21
- Shifts in homeownership impacts market
- Figure 14: Homeownership rate, 2008-18
- Figure 15: Repertoire of major household appliances – Plan to own, by select demographics, 2021
- Families have stronger category engagement
- Figure 16: Households by presence of own children, 2010-20
- Falling confidence and inflation have negative implications
- Figure 17: Consumer Sentiment Index, 2010-21
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Competitive Strategies and Market Opportunities
- Smart appliance space: advancements focus on seamless convenience
- Figure 18: Attitudes toward smart appliances, 2021
- Playing into health and wellness
- Manufacturers pledge to address sustainability
- Customization has never been more important
- Smart appliance space: advancements focus on seamless convenience
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The Major Appliance Consumer – Fast Facts
- Fact 1: pandemic influences purchase behavior of major appliances
- Fact 2: style edges out smart features
- Fact 3: in-person shopping dominates
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Appliance Ownership and Intent to Purchase
- Inventory issues create pent-up demand
- Figure 19: Major household appliance ownership, 2020-21
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- Figure 20: Intent to purchase, 2020-21
- Majority own four or more types of household appliances
- Figure 21: Repertoire of major household appliances – Currently own, 2021
- Multiple purchases will support larger household, new life stage needs
- Figure 22: Repertoire of major household appliances – Plan to own, by select demographics, 2021
- The move to remote work facilitated purchases and demand
- Figure 23: Repertoire of major household appliances – Plan to own, by work from home status, 2021
- Inventory issues create pent-up demand
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Most Recent Appliance Purchase and Experience
- Nearly half of purchases occurred within past year
- Figure 24: Most recent appliance purchase, 2021
- Figure 25: Most recent appliance purchase, by appliance ownership and intent to purchase – Plan to own, 2021
- Most got what they were looking for
- Figure 26: Recent appliance purchase experience, 2021
- Fewer expectations delivered a better purchase experience for older adults
- Figure 27: Recent appliance purchase experience, by age, 2021
- Parents indicate more frustrations during most recent purchase experience
- Figure 28: Recent appliance purchase experience, by parental status, 2021
- Nearly half of purchases occurred within past year
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Appliance Purchase Drivers
- Replacement underpins sales, upgrade trends continue
- Figure 29: Appliance purchase drivers, 2020-21
- Desire over need drives young adults to purchase appliances
- Figure 30: Appliance purchase drivers, by age, 2021
- Many factors drive purchasing decisions for families
- Figure 31: Appliance purchase drivers, by parental status, 2021
- Work from home drives replacement needs
- Figure 32: Appliance purchase drivers, by work status, 2021
- Replacement underpins sales, upgrade trends continue
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Attitudes toward Appliances
- Smart appliances viewed favorably, yet still out of reach
- Figure 33: Attitudes toward appliances, 2021
- Style and smart features can be leveraged to attract 35-44 year olds
- Figure 34: Attitudes toward appliances, by age, 2021
- Parents most likely to agree smart features add value
- Figure 35: Attitudes toward appliances, by parental status, 2021
- Smart appliances viewed favorably, yet still out of reach
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Appliance Purchase Location
- A slight reversal of channel trends
- Figure 36: Appliance purchase channel, 2017-21
- Young adults drive the online shopping trend
- Figure 37: Appliance purchase channel, by age, 2021
- Home improvement retailers dominate sales
- Figure 38: Appliance purchase location, 2021
- A slight reversal of channel trends
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Attitudes toward Shopping for Major Appliances Online
- Enhanced visuals needed for online to capture shoppers’ trust
- Figure 39: Attitudes toward shopping for major appliances online, 2021
- Men are more accepting of online shopping
- Figure 40: Attitudes toward shopping for major appliances online, by gender, 2021
- Younger adults value the online shopping experience
- Figure 41: Attitudes toward shopping for major appliances online, by age, 2021
- Parents turn to online shopping for convenience
- Figure 42: Attitudes toward shopping for major appliances online, by parental status, 2021
- Enhanced visuals needed for online to capture shoppers’ trust
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Appendix – Data Sources and Abbreviations
- Data sources
- Sales data
- Forecast
- Consumer survey data
- Abbreviations and terms
- Abbreviations
- Terms
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Appendix – The Market
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- Figure 43: Total US retail sales and forecast of major household appliances, at inflation-adjusted prices, 2016-26
- Figure 44: Total US retail sales of major household appliances, by segment, at current prices, 2016-26
- Figure 45: Total US retail sales of washers and dryers, at current prices, 2016-26
- Figure 46: Total US retail sales of washers and dryers, at inflation-adjusted prices, 2016-26
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- Figure 47: Total US retail sales of refrigerators, freezers, and dishwashers, at current prices, 2016-26
- Figure 48: Total US retail sales of refrigerators, freezers, and dishwashers, at inflation-adjusted prices, 2016-26
- Figure 49: Total US retail sales of ranges, ovens, cooktops, and microwaves, at current prices, 2016-26
- Figure 50: Total US retail sales of ranges, ovens, cooktops, and microwaves, at inflation-adjusted prices, 2016-26
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About the report
This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.
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Data
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