White Goods Market Size, Share, Industry, Forecast and outlook (2023-2030)

Global White Goods Market is segmented By Type (Cleaning Equipment (Washing and Laundry Machine, Vacuum Cleaners, Others), Sewing Machines, Preservation & Cooking Equipment (Refrigerators, Microwave, Oven and OTG, Food Processors/Juicer/Juicer-Mixer-Grinder (JMG), Others), Heating & Cooling Equipment (Air Conditioners, Fans, Coolers, Others), Others), By End-User (Household, Hospitals & Clinics, Drycleaners & Cleaning Agencies, Hospitality Industry (Hotels and Resorts, Bars and Restaurant, Others), Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

White Goods Market Overview

[180 Pages Report] The Global White Goods Market is expected to grow at a CAGR of 7.1% during the forecasting period 2023-2030. White goods are large electrical goods used in the home, including refrigerators, cookers, blenders, air fryers, washing machines, freezers, tumble driers, dishwashers, geysers, and air conditioners. These kitchen appliances are used to reduce human efforts in day-to-day life. The applications of these white goods include, Cooking & preserving various types of food and beverages, Washing & drying clothes in households and hospitals, Providing heating & cooling systems with fans, Air conditioners, Steam systems and Coolers.

White Goods Market Summary and Scope

White Goods Market Dynamics and Trends

The global white goods market driven by rising demand and sale of home appliances with a surge in people's disposable income. Further increasing disposable income with a surge in urbanization and growing demand for human comfort have propelled the white goods market as white goods such as air conditioning, coolers, and fans demand is increasing rapidly due to changing environmental conditions.

Rising of the consumer's goods such as refrigerators, air-conditioning due to climate change globally

White goods such as heating, ventilation, and air conditioning systems demand are increasing rapidly due to the surge in disposable income and growing urban population demand globally. For instance, as per our world data in 2019, the global urban population reached 4.2 billion, which is more than 50% of the global population, and is projected to reach around 6 billion by 2045. It created a massive demand for refrigerators, air-conditioning systems, and air cooling systems globally.

Further rising sales of consumer electronics and home appliances in the developing and most populous countries have propelled this white goods market growth. As per the India Brand Equity Foundation (IBEF) report in 2019, the Indian appliance and consumer electronics (ACE) market is valued at around USD 10.93 billion and is projected to reach USD 21.18 billion by 2025.

Growing demand for electronic home appliances such as televisions, LCDs, air conditioning, and, among others, growing production facilities in developing countries has propelled the growth of this market.

Further growing demand for energy saving in the home appliances and consumer electronics goods with the increasing sale of equipment such as television, refrigerators, LCDs, etc., have propelled the white goods market. As per the India Brand Equity Foundation (IBEF) report in 2019, the television industry in India reached an estimated US$ 11.26 billion in 2019 and is projected to reachUS$ 13.66 billion by 2021.

The import of televisions in India increased by 15% annually, which reached the highest-ever level of 15 million in 2019. During the first quarter of 2020, the electronics, domestic appliances, and air conditioner market in India reached around US$ 0.86 billion, US$ 1.80 billion, and US$ 2.56 billion, respectively. Also, as per the Energy Government Organization, Air Conditioning equipment represented sales close to US$ 100 billion with increasing sales to 100 million units per year to the global market. It created a massive demand for white goods in India and globally.

Growing demand launching of several advanced technology-based such as artificial intelligence, IoT, etc., by the leading players may create a massive opportunity for this White Goods Market growth.

The launch of advanced technology such as AI and IoT-based equipment for home appliances by the leading players may create a massive opportunity for this market's growth.

Also, increasing demand for AI-based refrigeration systems has propelled the white goods market growth. For instance, on 14th January 2020, Axiom Exergy has received more than one million dollars for the Axiom Cloud, a software platform that uses artificial intelligence to solve some of the largest energy and maintenance problems that grocery chains face.

The Company provided AI-based to customers, including Arcticom, Whole Foods Market, Clima-Tech, and other North American supermarket chains and maintenance providers. Further, on 9th March 2020, Elanpro launched IoT-enabled connected refrigerators and AI vending machines. The company entered into a strategic alliance agreement with Vendekin, with a Pune-based vending eco-system startup.

COVID-19 Impact Analysis on White Goods Market

The global white goods market has shown slight declination due to the Covid-19 pandemic, as several leading manufacturing industries were closed. Several countries have restricted production activities during the covid-19 pandemic. Further, demand for consumer electronics and home appliances also declined due to low demand in June 2020. The home appliances price also decreased due to the covid-19 pandemic.

However, the demand for white goods is slightly increased in August 2020, as several leading manufacturers started production. The leading manufacturers of white goods have planned the investment and launched energy-efficient products for households and increased home equipment production due to growing demand. For instance, on 3rd April 2020, Hitachi launched its latest AC solutions range with an energy-efficient and expandable Inverter. Further, increasing demand for medical devices during the covid-19 pandemic created massive white goods market opportunities. For instance, on 15th July 2020, in support and to address the Covid-19 emergency, Whirpool Corporation began the production of the mechanical ventilator Breath4U and two individual protection devices, a PAPR respirator and a PPE (personal protective equipment) face shield in at its industrial site in Cassinetta di Biandronno (VA). Further demand for white goods will increase as soon as the pandemic is over.

White Goods Market Segmentation Analysis

The global white goods are segmented on type, end-user, and region. Based on Type into Cleaning Equipment, Sewing Machines, Preservation & Cooking Equipment, Heating & Cooling Equipments. Based on End-User the market divided into Household, Hospitals & Clinics, Drycleaners & Cleaning Agencies, Hospitality Industry and, Others.

Rising demand for cleaning equipment due to a surge in the prevalence of Covid-19 infection cases globally. In terms of product, the global white goods are bifurcated into cleaning equipment, sewing machines, preservation & cooking equipment, heating & cooling equipment, etc. Among these, cleaning equipment had the highest market share in 2019, primarily due to the surge in the prevalence of the Covid-19 cases globally.

For instance, as per the Worldometer as of 1st December 2020, around 66.5 million infected cases of Covid-19 were reported, whereas 1.4 million deaths were due to the spread of the coronavirus. Thus to reduce the spreading of this infectious disease, cleaning equipment demand has been increased astoundingly globally.

Sewing machines, preservation & cooking equipment, heating & cooling equipment segments are also growing faster, primarily due to a surge in demand for refrigerators, Air cooling, and heating systems due to climate change and rising consumer spending on comfortable things globally. For instance, as per the international institute of refrigeration (IIR) estimation in 2018, the total number of operable refrigeration, air-conditioning, and heat pump systems globally accounted around US$ 3 billion. Global annual sales of such equipment are reached around US$ 300 billion. It created a massive demand for the white goods market globally.

Increasing demand for eco-friendly products with the surge in government support and initiatives have propelled the market for household growth for the white goods market.

The global white goods market is segmented into households, hospitals & clinics, dry cleaners & cleaning agencies, the hospitality industry, and others based on the end-user. The household has the highest market share due to rising demand by the urban population due to surge in disposable income, rising consumer awareness towards eco-friendly & energy-efficient appliances in the developing and the most populous countries such as China and India.

For instance, as per the Customer Experience Board Organization report, the global household appliances market reached around US$ 590 billion in the second quarter of 2020, and total worldwide shipments of these household equipment increased from 583 million units in 2013 to 700 million units by 2017.

White Goods Market Geographical Share

Asia-Pacific holds the largest market share in the global white goods market.

Asia-Pacific region is dominating the global White Goods market accounted for the largest market share in 2019 due to several manufacturing companies' presence, growing industrialization, and rising investment by the region's leading players, followed by North America Europe. Increasing demand for refrigerators and air conditioning units in the Asia-Pacific region due to a surge in disposable income and rising production facilities is a significant factor driving the market. For instance, as per the International Energy Agency Organization in 2019, China's air conditioning sales reached around 688 million units, followed by India with 42 million units.

Further, as per the India Brand Equity Foundation report in 2018, India's refrigerator market is valued at around US$ 3.03 billion and is projected to reach US$ 5.34 billion by 2022. Further, the production of refrigerators in India reached 11.88 million units, increased by 3 % year-on-year in 2018. Thus, it created a massive demand for the white goods market in developing countries. Similarly, North America is also growing faster due to the increasing launching of advanced technology-based equipment with a surge in government support and initiatives and rising demand by residential households.

White Goods Companies and​​​​​​​ Competitive Landscape

The white goods market is highly segregated with local and global small and large scale leading players. Some of the major players contributing to the growth of the market include Johnson Controls, Whirlpool Corporation, Panasonic Corporation, IFB Industries, Samsung, Sharp Corporation, LG Electronics, Hitachi, Ltd, Robert Bosch GMBH, Symphony Limited, Blue Star Limited, ARÇELIK A.S., Godrej & Boyce Mfg. Co. Ltd., AB Electrolux, Haier Inc., Midea Group, Siemens, TCL Corporation, Mitsubishi Electric Corporation, and others.

The leading players are launching new products, expanding production capacity, and going through mergers, collaborations, acquisitions, and contributing to the growth of the white goods market globally. For instance, on 24th December 2019, Mitsubishi Electric Corporation launched a new high-performance intelligent power module (IPM) SLIMDIPTM-W, which will enable washing machines, air conditioners, and various small-capacity motor drives to achieve reduced motor noise and consume less power. Sales of the SLIMDIP-W started on 15th January 2020. Also, on 8th August 2019, Hitachi launched high-end frost-free refrigerators and washing machines in India.

Whirlpool Corporation:

Overview: Whirlpool Corporation is a kitchen and laundry appliances manufacturing company with approximately US $20 billion annual sales. The company is headquartered at Benton Charter Township, Michigan, United States, and was founded in 1911. The company employed more than 77,000 employees and 59 manufacturing and technology research centres in 2019.

The company's marketed brand names include Indesit, Whirlpool, Maytag, KitchenAid, Consul, Brastemp, Bauknecht, Amana, and JennAir brands in nearly every country globally.

Product Portfolio: The company product portfolio of white goods includes:

• Washer and dryers, refrigerators, cooktops, wall ovens, microwaves, dishwashers, hoods, freezers, beverage & wine centres, ice makers, water filters, and compactors

Key Development in the White Goods Industry

1. 10th September 2020: Whirlpool of India, a subsidiary of Whirlpool Corporation, the world's leading kitchen & laundry home appliance company, launches Intellifresh Pro, India's most advanced Bottom Mount Refrigerator powered by advanced Adaptive Intelligence Technology with a capacity ranging between 325L and 355L in Omega Steel and Steel Onyx finish.
2. On 17th March 2020, Whirlpool has launched the latest 3D Cool Inverter Air Conditioners range. This equipment is designed with 3D Cool Technology, which provides 60% faster cooling during the summer season of 50 degrees.

The global white goods market report would provide access to an approx: 77 market data tables, 54 figures, and 180 pages.