The U.S.household appliances market is
forecasted to reach USD 59.76 billion by 2025, according to a new report by
Grand View Research, Inc. The market is anticipated to grow owing to the
increased technological advancements in the appliances including water heaters,
dishwashers, refrigerators, cooktops, cooking ranges, microwaves, ovens, vacuum
cleaners, mixers, grinders, food processors, washing machines, air
conditioners, and heaters.
The companies in the U.S. household
appliances market are investing heavily in designing innovative and user-friendly
products to cater the consumer better and gain a larger market share in an
extremely competitive market scenario. The companies focus on integrating the
Internet of Things (IoT) platform with the products that enable the users to
control and monitor the household appliances through mobile applications. For
instance, in December 2017, LG Electronics Inc. announced its plan to create
ThinQ which will use artificial intelligence (AI) in all its household devices.
LG ThinQ products will be competent to use deep learning and communicate with
the users. Further, LG Electronics Inc. announced the launch of its smart air
purifier for homes. LG PuriCare comprises fine dust sensors, voice recognition,
and DeepThinQ technology for cleaner air.
The company has also integrated Near Field
Communication (NFC) tagging technology with their appliances, which is a set of
standards to establish radio communication for smart phones with other devices.
Using this technology, the user can download and control the washing machine
programs such as cold wash, baby care, and wool through their smart phones. The
company developed TrueSteam technology for washing machines which enables steam
softener, steam fresh, and allergy care features. This technology reduces water
consumption and helps to eliminate allergens and sterilizes bacteria.
Access
Research Report of U.S. Household
Appliances Market @ https://www.grandviewresearch.com/industry-analysis/us-household-appliances-market
Further key findings from the report suggest:
· By product type, the cooktop, cooking
range, microwave, and oven segment is expected to account for the largest
revenue share by 2025, registering an estimated CAGR of around 3% over the
forecast period.
· By 2025, the brick & mortar
distribution channel is projected to account for around 86% of the total market
revenue share.
· By distribution channel the e-commerce
segment is expected to grow substantially at a higher CAGR of around 9% over
the forecast period.
· The dishwasher segment in the U.S. was
valued at around USD 4.30 billion in 2016.
· The mixer, grinder, & food processor
segment by product type is anticipated to witness the highest CAGR over the
forecast period.
· Other major players in the U.S. household
appliances market include Electrolux, Frigidaire, Philips Electronics, and
SMEG.
Grand View Research has segmented the
market for U.S. household appliances into product type and distribution
channel.
U.S. Household Appliances Product Type
Outlook (Revenue, USD Billion; 2014 - 2025)
·
Water heater (boiler/geyser)
·
Dishwasher
·
Refrigerator
·
Cooktop, cooking range, microwave, &
oven
·
Vacuum cleaner
·
Mixer, grinder, & food processor
·
Washing machine
·
Air conditioner & heater
U.S. Household Appliances Distribution
Channel Outlook (Revenue, USD Billion; 2014 - 2025)
·
Brick & Mortar
·
E-commerce
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research
reports, customized research reports, and consulting services. To help
clients make informed business decisions,
we offer market intelligence studies ensuring relevant and fact-based research
across a range of industries, from technology to chemicals, materials and
healthcare.
For More
Information: www.grandviewresearch.com
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