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United States Major Home Appliances Market - Growth, Trends and Forecasts (2020 - 2025)

United States Major Home Appliances Market - Growth, Trends and Forecasts (2020 - 2025)

  • May 2020
  • 166 pages
  • ID: 5916377
  • Format: PDF
  • Mordor Intelligence LLP
Up to $975 off Until Aug 10th 2020

Summary

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United States major home appliance market has been growing for the past several years and improvement in lifestyle is also one of the key factors. United States home appliance market is concentrating more in designing innovative and user-friendly products to provide the consumer better. Home appliances are used for the various day to day functions like cooking, cleaning, purifying, food preservation and major home appliances are the large machines usually used in the bedrooms, bathrooms, halls, and in the kitchen. When there is growth in the housing sector, there will be demand for the home appliances and the market will continue to grow.

Major home appliances market is expected to exhibit considerable growth in the coming years owing to the rise in disposable incomes coupled with rapid urbanization which has led to an enhanced consumer spending. Technological advancements have led to the development of appliances like refrigerators, washing machine, and dishwasher and are expected to drive the growth of home appliances market during the forecast period and there is a rapid growth in major home appliances. United States is a matured and homogenous market for home appliances with high product penetration. Consumers generally opt for modern and stylish home appliances which complement their living standards and market is introducing products equipped with advanced features to cater their demands.

Key Market Trends
Raising Residential Housing is Driving the Market for Major Home Appliances

GE Appliances and Whirlpool are well-known brands to produce major home appliances. With an increase in residential housing, demand for major home appliances is increased to push the production data moderately high. The performance of the housing market has a direct impact on the manufacturing of major home appliances. The residential housing sector in the United States is likely to generate increased demand for major home appliances in the country, thus boosting the future growth prospects of the market.

Refrigerator Segment is Taking Largest Share in the Market

A refrigerator is an appliance used for food storage in cold temperatures to help food stay fresh longer. The refrigerator has become an essential part of a household and is one of the first appliances that is purchased once the household income reaches an adequate level. The refrigerator market is the major contributor in the United States major home appliance market. Refrigerators are used to preserve edible items at a range of different temperatures and the introduction of advanced refrigerators provided with smart technologies is expected to drive the market in the future. The demand for refrigerators is primarily driven by the residential sector and improved standards of living thus led to a demand for major home appliances market in the United States.

Competitive Landscape
The report covers major international players operating in the United States Major Home Appliances Market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.

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