Dublin, Nov. 08, 2022 (GLOBE NEWSWIRE) -- The "The US Small Household Appliances Market: Analysis By Category, By Product, By Distribution Channel, Size & Forecast with Impact Analysis of COVID-19 and Forecast up to 2027" report has been added to ResearchAndMarkets.com's offering.
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.
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%.
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.
Key Topics Covered:
1. Executive Summary
2. Introduction
3. The US Market Analysis
4. Impact of COVID-19
5. Market Dynamics
6. Competitive Landscape
7. Company Profiles
Companies Mentioned
- 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
For more information about this report visit https://www.researchandmarkets.com/r/enr8vp
