White Goods Market: Global Industry Analysis and Forecast (2023-2029)

White Goods Market size was valued at US$ 484.5 Bn. in 2022. Refrigerator, one of the segments in our report dominated the White Goods Market.
White Goods Market Overview:
White Goods are large electrical goods and comprise major household appliances. Any electrical, gas-powered, or electrochemical devices such as refrigerators, cookers, blenders, air fryers, washing machines, freezers, tumble driers, dishwashers, geysers, and air conditioners. A majority of white goods are ideally painted in a white enamel finish. Though these products are available in diverse colors, they are still recognized as white goods.To know about the Research Methodology :- Request Free Sample Report
White Goods Market Dynamics:
ncreasing disposable income, rise in urbanization, and demand for human comfort is increasing swiftly owing to changing environmental surroundings. These factors are driving the market growth of the white goods market.

Growing demand for energy saving in white goods and increase in the sale of goods has led to growing production facilities for home appliances in developing countries has propelled the market growth of white goods.

Artificial Intelligence and Internet of Things-based products with advanced technology is creating new opportunities for the market and AI-based refrigerator has boosted the market growth of white goods.

The rise in high living standards and the need for comfort is pursuing consumers to upgrade their existing appliances to smarter versions as they offer ease, diminish efforts, and save time. Effectiveness, sustainability, stylish design, and smart functionality are the factors are driving the white goods market.

Technological advancements have led to the development of smart appliances. Product differentiation and integration of numerous value-added benefits such as Wi-Fi and Bluetooth can be used in or accessed by smartphones and tablets. The improvement in network infrastructure and internet penetration. Consumers are increasingly opting for wireless and technologically advanced products for convenience. These factors are driving the demand for white goods increasingly.

Sustainability and energy efficiency products with high-quality materials and aesthetically pleasing designs combined with innovative and diverse functionalities. Design is one of the major aspects while buying products. These are the factors increasing the sale of goods and driving the market growth.

Market trends and challenges are analyzed and compiled in the report. The data of 2022 is considered for a better understanding of the client. Moreover, Analytics of the market is based on real numbers of past years from 2018 to 2022 with market forecast until 2029.
White Goods Market Segment Analysis:
By Product, Refrigerators dominated the market with a 27 % share in 2022. A safe, easy, and convenient way to preserve food and food products and increasing nuclear families are the factors driving the market growth of the segment. The availability of smart and energy-efficient refrigerators is also contributing to the demand of the segment.

The air conditioner is expected to grow at a CAGR of 6 % through the forecast period. Increasing global warming is worsening the weather conditions, growing urbanization and commercial multiplexes, smart cities, green buildings are rising exponentially. These factors are expected to drive the growth of air conditioners through the forecast period.

By Distribution Channel, Specialty stores dominated the market with a 35 % share in 2022. Focus on a single type of product category, easy to compare the features and looks with various brands are driving the growth of the segment in the market. After-sales services, availability of spare parts, etc. are also driving the market growth.

E-commerce is expected to grow at a CAGR of 7% through the forecast period. High penetration of the internet and smartphone, technological advancements, home delivery, return policy, etc. are the factors expected to drive the market growth through the forecast period.
White Goods Market Regional Insights:
Asia Pacific Region dominated the market with a 40 % share in 2022. The presence of major manufacturers increased investment, and rising industrialization are the factors driving the market growth in this region. Growing standard of living, rise in disposable income and high spending on home improvement are surging demand for white goods. Rising population, awareness about smart cities, and smart integrated appliances in countries like china, japan, India, etc. are driving the growth of the white goods market in the Asia Pacific region.

North America is expected to drive the market with a CAGR of 4 % through the forecast period. also Increasing launching of advanced technology and surge in government support and initiatives and rising demand of goods in households are the major factors expected to drive the market growth through the forecast period.The objective of the report is to present a comprehensive analysis of the White Goods market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the White Goods market dynamics, structure by analyzing the market segments and projecting the White Goods market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the White Goods market make the report investor’s guide.
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Global White Goods Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 484.5 Bn.


Forecast Period 2023 to 2029 CAGR:
4%
Market Size in 2029:
US $ 637.6 Bn.


 Segments Covered:
by Type
CLEANING EQUIPMENT
PRESERVATION & COOKING EQUIPMENT
HEATING & COOLING EQUIPMENT
OTHERS


by Applications
Household
Drycleaners & Cleaning
Hospitals & Clinics
Others


by Distribution channel
Supermarket and Hypermarket
Specialty Store
Retail Store
E-commerce
others



White Goods Market, by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
White Goods Market  Key Players are:
1. Whirlpool Corporation
2. Panasonic Corporation
3. IFB Industries
4. Samsung
5. Sharp Corporation
6. LG Electronics
7. Hitachi, Ltd
8. Robert Bosch GMBH
9. Symphony Limited
10. Blue Star Limited
11. ARÇELIK A.S.
12. Godrej & Boyce Mfg. Co. Ltd.
13. AB Electrolux
14. Haier Inc.
15. Midea Group
16. Siemens
17. TCL Corporation
18. Mitsubishi Electric Corporation
19. Johnson Controls

FAQ: 

1] What segments are covered in the White Goods Market report?
Ans. The segments covered in the White Goods Market report are based on the Product and Distribution Channel.

2] Which region is expected to hold the highest share in the White Goods Market?
Ans. Asia Pacific Region is expected to hold the highest share in the White Goods Market.

3] What is the market size of the White Goods Market by 2029?
Ans. The market size of the White Goods Market by 2029 is US $ 637.6 Bn.

4] Who are the top key players in the White Goods Market?
Ans. 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, Johnson Controls.

5] What was the market size of the White Goods Market in 2022?
Ans. The market size of the White Goods Market in 2022 was US $ 484.5 Bn.