White Goods Market

Global White Goods Market Size (2023 to 2028)

The global white goods market is expected to grow at a CAGR of 8.8% from 2023 to 2028 and the market size is predicted to be valued at USD 1248.02 billion by 2028 from USD 818.6 billion in 2023.

Traditionally, white goods are available only in white, which refers to large home appliances or heavy consumer durables. Nowadays, white goods are also available in different colors. Home appliances such as washing machines, refrigerators, cookers, blenders, air fryers, freezers, and others usually fall under white goods. In general, these appliances reduce the effort of humans. There are wide applications of white goods in day-to-day life. The entry of new players across the world is making the white goods market undergo a significant transformation.

Global White Goods Market Drivers:

The prevalence of adopting smart appliances among consumers, especially in developed and developing countries, is propelling the growth in the white goods market. Growing expenditure and a rising economy are additionally boosting the demand for the white goods market growth. White goods are improving life standards, that are why many people are adopting smart home appliances like dishwashers, washing machines and others, which is leveraging the growth rate of the market. Key players are heavily investing in the manufacturing of various applications in favor of the end-user, which is accelerating the white goods market growth. Some industries like hospitals & clinics are widely using some of the white goods, which is likely to bolster the growth rate of the market. Before the exchange of the old applications with the advanced ones, is greatly influenced the growth rate of the white goods market. Increasing dual-working families across the world are enhancing the demand for white goods. The emergence of IoT everywhere is increasing the growth rate of the white goods market. Growing competition between the small-scale industries is setting up growth opportunities for the white goods market.

Global White Goods Market Restraints:

However, the high cost of installation and maintenance of the latest applications is hindering the global market growth. Growing prices of raw materials due to fluctuations in the supply chain are declining the growth rate of the white goods market. In addition, stringent rules and regulations by the government in approving new applications are slowly degrading the demand of this market. Lack of complete knowledge of the availability of different applications in undeveloped countries is a major challenging factor for the market players.

Impact of COVID-19 on the white goods market:

COVID-19 is a deadly disease that ruined many lives. The global economy was completely flattered due to the sudden outburst of the pandemic at the end of 2019. The lockdown and ban on flights disrupted the supply chain and hampered the shares of the white goods market in 2020. From the start of 2021, the world is slowly getting into a previous position where all activities were resumed. Still, many people are permitted to work from home. COVID-19 is a boom for the white goods market. The sales of various home appliances increased drastically during the pandemic. Also, many customers are replacing the old appliances with new ones, which increases the demand for white goods.

REPORT COVERAGE:

This research report on the global white goods market has been segmented sub-segmented into the following categories.

White Goods Market - By Product:

• Air Conditioners
• Refrigerator
• Microwave Oven
• Dishwasher
• Washing Machine
• Others

The air conditioners segment is leading with the highest shares in recent years. The increasing urban population and growing prevalence of air conditioners due to climatic changes are leveraging the demand of this segment. The demand for AC applications is from the commercial and residential areas. The refrigerator segment is next in holding the prominent shares.

White Goods Market - By End-User:

• Residential
• Commercial 

The residential segment is anticipated to reach the highest value in the coming years, whereas the commercial segment is forecasted to hit the highest CAGR during the forecast period 2022 - 2027. The residential segment is estimated to reach USD 575.6 million by 2026.

White Goods Market - By Distribution Channel:

• Supermarket & Hypermarket
• Specialty Store
• Retail Store
• E-commerce 
• Others

The supermarket & hypermarket segment is dominating the shares owing to rising demand to improve living standards. The specialty store segment is next in holding significant shares. The E-commerce segment is gaining traction over the shares of the market for a few years. The specialty store segment shares are expected to grow at a CAGR of 7.3% during the forecast period.

White Goods Market - By Region:

• North America 
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

North America is ruling with the highest shares of the white goods market. The growing economy and rapid adoption of the latest technology are likely to propel the demand of the white goods market revenue. Also, prior to the advanced technological applications in urban areas is flourishing the white goods market grew. It is expected that North America's white goods market shares will continue at the same rate in the coming years.

The Asia Pacific is following North America in ruling the dominant shares of the white goods market with the increasing population and growing expenditure on interior design. Creating awareness through digital advertisements and the launch of innovative products at lower prices are significantly fueling the demand of the white goods market.

Europe is accounted to have the highest CAGR by the end of 2026. High per capita income and the increasing prevalence to install home appliances for a better lifestyle are promoting the growth rate of the white goods market in Europe.

Latin America and the Middle East & Africa are anticipated to have minimal growth opportunities in the coming period.

KEY MARKET PLAYERS:

Alliance Laundry System LLC, Haier Group Corporation, AB Electrolux, Blue Star Limited, LG Electronics Inc., IFB Industries Ltd, Havells India Limited, The Middleby Corporation, Whirlpool Corporation and Koninklijke Philips N.V. are some of the prominent companies in the global white goods market.