Major Household Appliance Manufacturing in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: September 2024
NAICS 33522Revenue
$24.5bn
Past 5-Year Growth
Profit
$X.Xbn
Employees
42,102
Businesses
144
Wages
$X.Xbn
Major Household Appliance Manufacturing in the US industry analysis
A volatile housing market has shaped the performance of major appliance manufacturers. The pandemic interrupted growth, as exports slumped and construction markets were restricted. The market recovered rapidly as the year wore on. The robust housing market in 2021 supported manufacturer growth, while rising interest rates later cooled this expansion. Concurrently, the appreciation of the US dollar led to a drop in export sales and an increase in import penetration. As a result, the industry's revenue has been decreasing at a CAGR of 0.5% and is expected to reach $24.5 billion by the end of 2024, with slight weakness anticipated with a 2.8% dip in 2024 alone. Profit margins are set to experience similar volatility.
Trends and Insights
- Shifts in interest rates have created volatility for manufacturers. Low-interest rates in recent years boosted growth as the housing market boomed. However, recent rate hikes have slowed residential construction and, consequently, growth for manufacturers.
- Cooking appliance sales have climbed. Cooking appliances comprise the largest segment for manufacturers. Tax credits in the Inflation Reduction Act for ENERGY STAR-certified appliances like stoves will bolster growth.
- The Great Lakes and Southeast are close to large ports, providing easy access to imports and transports. The Great Lakes region allows for easy access to Canada, while the Southeast represents a major population center and is close to Mexico.
- The household manufacturing sector is fiercely competitive. Companies contend on various fronts, including pricing, features, quality, design, performance, service, brand reputation, and warranty length. This intense rivalry spans numerous global players and brands.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 0.5 % over the past five years, to reach an estimated $24.5bn in 2024.
Trends and Insights
The performance of major household appliance manufacturers has moved in line with the housing market
- The performance of major household appliance manufacturers has closely tracked the housing market's trends. Significant changes in housing demand have had a direct impact on appliance sales.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
High interest rates and input costs shape appliance manufacturing
- As interest rates remain high, major appliance manufacturers will face declines as consumers reduce their spending on new appliances alongside new homes.
Biggest companies in the Major Household Appliance Manufacturing in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Whirlpool Corp | 5,187.1 | 433.2 | 8.4 | |
Electrolux AB | 4,330.6 | 190.6 | 4.4 | |
Haier Group Corporation | 3,388.7 | 230.1 | 6.8 |
To view the market share and analysis for all 10 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Cooking appliances , Refrigerators and home freezers and Laundry equipment. Cooking appliances is the largest segment of the Major Household Appliance Manufacturing in the US.
Trends and Insights
Cooking appliances continue to dominate the market
- Household cooking appliances include electric ranges, ovens, surface cooking units, gas ranges, and cooking equipment.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- Vacuum, Fan & Small Household Appliance Manufacturing in the US
- Food Processor & Blender Manufacturing in the US
Complementors
- Heating & Air Conditioning Equipment Manufacturing in the US
- Vacuum, Fan & Small Household Appliance Manufacturing in the US
- Electrical Equipment Manufacturing in the US
- Battery Manufacturing in the US
International industries
- Global Household Cooking & Appliance Manufacturing
- Major Household Appliance Manufacturing in Canada
- Household Appliance Manufacturing in Australia
- Electrical Appliance Manufacturing in the UK
- Household Refrigerator and Freezer Manufacturing in China
Table of Contents
About this industry
Industry definition
Major household appliance manufacturers produce major household cooking appliances, refrigerators and home freezers, household laundry equipment and other major electrical and nonelectrical household appliances like dishwashers, garbage disposal units, water heaters and trash compactors. Small cooking appliances (e.g. hot plates), fans, vacuums and electric irons are not included.
What's included in this industry?
Household cooking appliances manufacturingHousehold refrigerator and home freezer manufacturingHousehold laundry equipment manufacturingDishwasher manufacturingGarbage disposal unit manufacturingElectric and nonelectric water heater manufacturingMicrowave oven manufacturingCompanies
Whirlpool CorpElectrolux ABHaier Group CorporationPurchase this report to view all 10 major companies in this industry.
Related Terms
LINEAR MOTORAPPLIANCE LABELING RULEENERGY STARSMART APPLIANCEIndustry Code
NAICS 33522 - Major Household Appliance Manufacturing in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Shifts in interest rates have created volatility for manufacturers. Low-interest rates in recent years boosted growth as the housing market boomed. However, recent rate hikes...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Cooking appliance sales have climbed. Cooking appliances comprise the largest segment for manufacturers. Tax credits in the Inflation Reduction Act for ENERGY STAR-certified ...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
The Great Lakes and Southeast are close to large ports, providing easy access to imports and transports. The Great Lakes region allows for easy access to Canada, while the So...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
The household manufacturing sector is fiercely competitive. Companies contend on various fronts, including pricing, features, quality, design, performance, service, brand rep...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Whirlpool has expanded its market share through strategic mergers and acquisitions. In November 2022, the company completed its acquisition of InSinkErator, the world’s large...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Whirlpool Corp's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Electrolux AB's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Haier Group Corporation's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of revenue, market share and profit margin trend for 7 additional companies
Detailed analysis
- Description and key data for Whirlpool Corp, and factors influencing its performance in the industry
- Description and key data for Electrolux AB, and factors influencing its performance in the industry
- Description and key data for Haier Group Corporation, and factors influencing its performance in the industry
- Description, key data and performance trends for 7 additional companies
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Manufacturing must comply with various environmental and safety laws. These include federal, state, or local licenses for wastewater discharges, air emissions, and hazardous ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Profit inched up despite headwinds. While domestic manufacturers have faced climbing import penetration, the increased sale of smart appliance products has increased profit.
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Major Household Appliance Manufacturing in the US industry in United States in 2024?
The market size of the Major Household Appliance Manufacturing in the US industry in United States is $24.5bn in 2024.
How many businesses are there in the Major Household Appliance Manufacturing in the US industry in 2024?
There are 144 businesses in the Major Household Appliance Manufacturing in the US industry in United States, which has grown at a CAGR of 2.7 % between 2019 and 2024.
Has the Major Household Appliance Manufacturing in the US industry in United States grown or declined over the past 5 years?
The market size of the Major Household Appliance Manufacturing in the US industry in United States has been declining at a CAGR of 0.5 % between 2019 and 2024.
What is the forecast growth of the Major Household Appliance Manufacturing in the US industry in United States over the next 5 years?
Over the next five years, the Major Household Appliance Manufacturing in the US industry in United States is expected to grow.
What are the biggest companies in the Major Household Appliance Manufacturing in the US market in United States?
The biggest companies operating in the Major Household Appliance Manufacturing market in United States are Whirlpool Corp, Electrolux AB and Haier Group Corporation
What does the Major Household Appliance Manufacturing in the US in United States include?
Household cooking appliances manufacturing and Household refrigerator and home freezer manufacturing are part of the Major Household Appliance Manufacturing in the US industry.
Which companies have the highest market share in the Major Household Appliance Manufacturing in the US in United States?
The company holding the most market share in United States is Whirlpool Corp.
How competitive is the Major Household Appliance Manufacturing in the US industry in United States?
The level of competition is high and increasing in the Major Household Appliance Manufacturing in the US industry in United States.
