Haridwar Today

The US household appliance market has shown remarkable growth in recent years, and this trend is expected to continue at an impressive Compound Annual Growth Rate (CAGR) of 5.2% from 2021 to 2028, according to a new market research report by Grand View Research. The demand for household appliances, driven by factors such as increasing disposable income, changing lifestyles, and technological advancements, is projected to reach a market value of USD 58.33 billion by 2023.

Over the past decade, the US household appliance market has witnessed significant growth, primarily due to the rising urbanization and population growth. The increasing number of households, coupled with a growing emphasis on convenience and efficiency, has fueled the demand for advanced household appliances. Additionally, the trend of smart homes and the integration of Internet of Things (IoT) technology into appliances have further accelerated market growth.

The kitchen appliances segment holds the largest market share, accounting for over 40% of the total revenue in 2020. This can be attributed to the increasing popularity of cooking shows, the rise in food delivery services, and the growing health-consciousness among consumers. The demand for refrigerators, stoves, ovens, and other kitchen appliances is expected to remain robust in the coming years. Additionally ancillary product spaces such as appliance cleaners like dishwasher descalers and long term service plans have seen tremendous growth alongside this macro trend.

The heating, ventilation, and air conditioning (HVAC) equipment segment is also witnessing significant growth. With the increasing need for energy-efficient solutions and a focus on sustainability, consumers are investing in smart HVAC systems that offer better control, enhanced comfort, and reduced energy consumption. The HVAC equipment market is expected to register a CAGR of 5.8% from 2021 to 2028.

Furthermore, the washing machine and dryer segment is expected to experience substantial growth during the forecast period. As consumers seek appliances that simplify their daily chores and provide convenience, the demand for technologically advanced washing machines and dryers is increasing. The introduction of energy-efficient and water-saving models has further boosted market growth in this segment.

Some of the prominent players operating in the US household appliance market include Whirlpool Corporation, LG Electronics Inc., Samsung Electronics Co., Ltd., Haier Group Corporation, and Electrolux AB, among others.

About ACTIVE

ACTIVE is a leading manufacturer of eco-friendly cleaning products based out of Minneapolis, Minnesota. ACTIVE’s product line includes cleaning and deodorizing tablets for washing machines, dishwashers, and garbage disposals and concentrated laundry detergent sheets and foaming hand soap tablets.

Media Contact
Company Name: ACTIVE
Contact Person: Jessica Anders
Email: Send Email
Phone: 952 206 5455
Address:3147 California St NE
City: Minneapolis
State: Minnesota
Country: United States
Website: https://useactive.com/