For a long time, the cure for diabetes type 1 and type 2 has relied on agonizing insulin shots for patients or insulin infusion via mechanical pumps. Regarding this, experts have been creating artificial pancreatic beta cells with the he…
Small Domestic Equipment, or SDA or Small Household Appliances as they are commonly known in the industry, are portable kinds of electrical appliances. Cooking appliances, food processing/preparation appliances, personal care, floor care, and a variety of other tiny appliances are examples. Small appliances include refrigerators and freezers designed for home use, room air conditioners (including window air conditioners and packaged terminal air conditioners), packaged terminal heat pumps, dehumidifiers, under-the-counter ice makers, vending machines, and drinking water coolers that are fully manufactured, charged, and hermetically sealed in a factory with five (5) pounds or less of refrigerant. In 2021, the US small household appliances market was valued at US$24.64 billion, and is probable to reach US$33.05 billion by 2027. The US small household appliances market volume stood at 398.04 million in 2021 and is expected to grow to 437.30 million in 2027.
Rapid adoption of IOT technology driving smart small household appliances, growth in consumer awareness about the evolvement and use of latest technology products like humidifiers, would impact demand for the US small household appliances market in the coming years. The US small household appliances market is projected to grow at a CAGR of 5.01%, during the forecast period of 2022-2027. Also, the US small household appliances market volume is estimated to increase at a CAGR of 1.58%.
Market Segmentation Analysis:
By Category: The report splits the US small household appliances market into four category: Cooking, Home Environment, Food Preparation, and Personal Care. Cooking segment held almost 31% of the market share in 2021. Rise in urban population, growth in adoption of methods to conserve natural resources and reduce negative impact on the environment are considered the major factors that encouraged cooking appliances in the US small household appliances industry.
By Product: According to the report, the US small household appliances market is segregated into ten products: Small kitchen appliances, Vacuum Cleaners, Grills & roasters, Coffee machines, Microwave ovens, Irons, Hair clippers, Toasters, Hair dryers and Electric Kettles. Small kitchen appliances accounted for above 30% share in the US small household appliances market in 2021, due to rise in demand from consumers, surging urban population, growing number of single person household, rising urge of consumers to learn new cooking skills, paved favorable conditions for the growth of small kitchen appliances market.
The US small household appliances market volume is also segmented on the basis of products. Where Small kitchen appliances held the almost 50% share of the market and is expected to grow in the future due to the rising living standards, growing consumer purchasing power, growing popularity of smart home & kitchen appliances in the region.
By Distribution Channel: The report splits the US small household appliances market into two distribution channel: Online and Other. Online channel held a share of 21% of the market share in 2021 and is expected to grow at a CAGR of 10.63%. The online sales of small household appliances experienced an increase, during the ongoing COVID-19 pandemic. The US online small household appliance sales surged due to the emergence of numerous e-commerce website which offer attractive deals & discounts. In addition, the online purchase offers home delivery and easy return of products which make online shopping more reliable and convenient for millennial as well as for the working class population
The US Small Household Appliances Market Dynamics:
Growth Drivers: Due to busy schedules and lack of time to manage daily routine activities, an increasing number of people in the US are preferring residence with advanced facilities such as, dishwasher, grinders, coffee maker, etc. to save time. Further, the market is expected to increase due to growing number of single-person households, surging urban population, growth in number of smart homes, rising millennial population, improved surging online sales of small household appliances, surging smart sensors demand, rising demand for energy optimization, etc.
Challenges: Increased tariffs on raw materials such as steel and aluminum restrained the market for household appliances in the historic period. Steel and aluminum are predominantly used in manufacture of several household appliance components such as vacuum cleaners, coffee machines, microwave ovens, toasters, etc. The other challenge that the US small household appliances market face is candidate's information compromised, etc.
Trends: A major trend gaining pace in the US small household appliances market is cloud technology. The evolvement and rise in cloud technology have supported and enriched the smart home technology. In the proposed method, the technology collects and stores information of small home appliance like dishwasher, coffee machines, etc., and sends the information to the cloud server for storage. More trends in the market are believed to augment the growth of the US small household appliances market during the forecasted period include rising artificial intelligence technology, surge in adoption of internet of things (IOT), growing influence of social media, introduction of innovative small household appliances, etc.
Impact Analysis of COVID-19 and Way Forward:
The outbreak of Coronavirus illness harmed the US small household appliance sector in 2020, as governments around the world instituted lockdowns. The dip in 2020 was not as severe, and the market recovered in 2021 as a result of increased consumer spending, an increase in the number of single-person households, the launch of new businesses, and so on. The market is likely to grow in the future as many companies introduce novel tiny household appliances and the sector makes extensive use of artificial intelligence and cloud computing.
Competitive Landscape and Recent Developments:
The US small household appliances market is fragmented with the presence of a large number of players majorly dominating worldwide. Key players of the US small household appliances market are:
Haier Group Corporation
Newell Brands Inc.
Samsung Electronics Co., Ltd.
LG Electronics Inc.
Whirlpool Corporation
Panasonic Corporation
Electrolux AB
Robert Bosch GmbH
Spectrum Brands
Koninklijke Philips N.V.
Dyson Limited
Smeg SpA
Hamilton Beach Brands Holding Company
Small household appliances market participants are mostly focused on product advancements through the implementation of advanced technologies. Signing partnerships, contracts, joint ventures, and financial agreements around the world allow the company to preserve its brand identity on a global scale. Whirlpool, for example, announced a new line of Neo Fresh Glassdoor Frost-Free refrigerators and expanded its product selection on April 2nd, 2022. Whirlpool Corporation also commits to real-world action toward a low-carbon future with the US Department of Energy on March 11th, 2022.