DUBLIN–(BUSINESS WIRE)–The report “The United States Small Household Appliances Market: Analysis by Category, Product, Distribution Channel, Size and Forecast with COVID-19 Impact Analysis and Forecast to 2027” has been added to from ResearchAndMarkets.com offer.
In 2021, the US Small Appliances Market was valued at US$24.64 Billion and is projected to reach US$33.05 Billion by 2027. The US Small Appliances Market volume was 398, 04 million in 2021 and is expected to reach 437.30 million in 2027. .
Rapid adoption of IOT technology resulting in smart small home appliances, increased consumer awareness on the evolution and use of latest technology products such as humidifiers, would impact the US market demand for small appliances in the years to come. The US small household appliances market is expected to grow at a CAGR of 5.01%, during the forecast period 2022-2027. Additionally, the US small appliances market volume is expected to grow at a CAGR of 1.58%.
Market Segmentation Analysis:
By Category: The report divides the US small appliance market into four categories: kitchen, home environment, food preparation and personal care. The kitchen segment held nearly 31% market share in 2021.
By Product: According to the report, the US small appliance market is divided into ten products: small kitchen appliances, vacuum cleaners, grills and roasters, coffee machines, microwave ovens, irons, hair clippers, grill -bread, hairdryers and electric kettles. Small kitchen appliances accounted for more than 30% of the U.S. small appliance market in 2021, driven by rising consumer demand, growing urban population, growing number of single person households , consumers’ growing desire to learn new cooking skills, favorable conditions for the growth of the small kitchen appliance market.
The US small appliance market volume is also segmented on the basis of product. Where small kitchen appliances held nearly 50% market share and is expected to grow in the future owing to rising living standards, rising consumer purchasing power and rising popularity smart home and kitchen appliances in the region.
By Distribution Channel: The report divides the U.S. small home appliance market into two distribution channels: online and other. The online channel held a 21% share of the market share in 2021 and is expected to grow at a CAGR of 10.63%.
Drivers of Growth: Due to busy schedules and lack of time to manage day-to-day activities, an increasing number of people in the United States prefer a residence with advanced facilities such as a dishwasher, grinders, coffee maker , etc. to save time. In addition, the market is expected to increase owing to growing number of single-person households, increasing urban population, growing number of smart homes, increasing millennial population, improving online sales of small household appliances, growing demand for smart sensors, growing demand for energy optimization, etc.
Challenges: Rising tariffs on raw materials such as steel and aluminum have restricted the home appliance market in the historical period. Steel and aluminum are mainly used in the manufacture of several components of household appliances such as vacuum cleaners, coffee machines, microwave ovens, toasters, etc. The other challenge facing the US small appliances market is the compromise of candidate information etc.
Trends: A major trend that is accelerating in the US small appliance market is cloud technology. The evolution and rise of cloud technology has supported and enriched smart home technology. In the proposed method, the technology collects and stores information from a small home appliance like dishwasher, coffee machines, etc., and sends the information to the cloud server for storage. More market trends are believed to augment the growth of the U.S. small household appliances market over the forecast period, including rise in artificial intelligence technology, surge in adoption of the Internet of Things (IOT), the growing influence of social media, the introduction of innovative small home appliances, etc.
Main topics covered:
3. Analysis of the American market
4. Impact of COVID-19
5. Market dynamics
6. Competitive landscape
7. Company Profiles
Haier Group Company
Brands Newell Inc.
Samsung Electronics Co., Ltd.
LG Electronics Inc.
Robert Bosch GmbH
Koninklijke Philips NV
Hamilton Beach Brands holding company
For more information about this report visit https://www.researchandmarkets.com/r/u10oj6