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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global White Goods Market Outlook
The global white goods market stood at a value of around USD 763.45 billion in 2023. The market is further expected to grow at a CAGR of 7.8% in the forecast period of 2024-2032 to attain a value of around USD 1,500.91 billion by 2032.
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Increasing Sales of Refrigerator to Bolster the Growth of the White Goods Industry
Based on product, the refrigerator segment accounts for a significant share in the market and is likely to witness a steady growth in the forecast period. This can be attributed to the durability and long-lasting characteristics of the product. A refrigerator has become an important part of the household as it helps keep the food items fresh and safe, so that the nutritional value of the product is not lost. This is driving the growth of the segment. Meanwhile, the air conditioner segment is anticipated to grow at a considerable rate in the forecast period owing to the rising disposable income and subsequent increase in product demand in emerging nations.
The Asia Pacific Accounts for a Significant Share in the White Goods Industry
The Asia Pacific accounts for a significant share in the market and is anticipated to grow at a healthy rate in the forecast period. The market growth in the region can be attributed to the increasing living standards in countries like India and China, among others. The structural shift towards smart appliances in these countries is likely to be a major factor driving the market growth. In addition, the market is expected to be aided by the growing competition among the electronic device manufacturers in the region to provide improved products.
White Goods: Market Segmentation
White goods are defined as the major appliances or large electronic machines that are used to accomplish tasks such as cooking, food preservation, and cleaning, among others in the household and commercial or industrial spaces.
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Based on product, the market is divided into:
- Air Conditioner
- Refrigerator
- Washing Machine
- Dishwasher
- Microwave Oven
- Others
On the basis of end use, the industry is segmented into:
- Residential
- Commercial
The different distribution channels of the product include:
- Hypermarkets and Supermarkets
- Speciality Store
- Retail Store
- Online
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Demand for White Goods in the Residential Sector to Boost the Growth of the White Goods Industry
The global market for white goods is driven by the growing demand for electronic devices such as refrigerators, washing machines, dishwashers, and others in the residential sector. These products are cost-effective, durable, efficient, and have the potential to bolster the housekeeping activities and ease the job of the caretaker. These factors have been contributing to the growth of the market globally. The growing dependence on technology, increasing disposable income in emerging nations, and the rapid advancements in the electronic industry are expected to provide a further impetus to the market growth in the forecast period.
Key Industry Players in the Global White Goods Market
The report gives a detailed analysis of the following key players in the global white goods market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Alliance Laundry Systems LLC
- Blue Star Limited
- Electrolux AB
- Haier Group Corporation
- LG Electronics Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by End Use |
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| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
White Goods Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global white goods market attained a volume of nearly USD 763.45 billion.
The market is estimated to witness a healthy growth at a CAGR of 7.8% in the forecast period of 2024-2032.
The major drivers of the market include the increasing disposable income, rapid advancements in the electronic industry, increasing living standards, structural shift towards smart appliances, and growing competition among the electronic device manufacturers.
The key trends guiding the market growth include the growing demand for electronic devices and technological advancements and innovations.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The various products included in the white goods market report are air conditioner, refrigerator, washing machine, dishwasher, and microwave oven, among others.
Residential and commercial are the different end-uses of the product.
Hypermarkets and supermarkets, speciality store, retail store, and online, among others, are the significant distribution channels of the product.
The major players in the market are Alliance Laundry Systems LLC, Blue Star Limited, Electrolux AB, Haier Group Corporation, and LG Electronics Inc., among others.
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