Appliance Repair and Maintenance NAICS 811412

May 28, 2025 - Slower Growth Forecast

• Sales for the US appliance repair and maintenance services industry are projected to grow at a CAGR of 1.9% between 2025 and 2029, slower than the overall economy‘s anticipated growth, according to a forecast from Inforum and the Interindustry Economic Research Fund, Inc. Appliance repair and maintenance are part of the “other services sector,” which is driven by consumer spending, along with expenditure by businesses. Consumer sentiment is expected to improve in the forecast period, which bodes well for the various services industries, including appliance repair and maintenance. Many segments of the other services sector are recovering from a downturn during the pandemic. Factors that may limit consumer spending during the forecast period include higher tariffs on consumer goods.
• According to a report by the Professional Service Association, the appliance service industry is approaching repairs and maintenance differently due to the advancement of smart diagnostics and predictive maintenance driven by technology. The new tools allow technicians to assess appliance problems remotely before arriving on-site and provide real-time performance data and fault codes, which improve efficiency and more accurate diagnoses. Using wireless digital multimeters and thermal imaging cameras to detect issues ahead of time has helped to improve first-visit resolution rates by 35%. Predictive maintenance uses the captured data to anticipate possible failures, allowing for scheduled proactive repairs and maintenance, less downtime, optimization of maintenance schedules, and extending the lifespan of appliances. Samsung has introduced a new AI-powered “pre-care notification” system in limited areas, which monitors appliance usage and condition and diagnoses potential issues before breakdowns occur.

• Appliance repair shops are starting to notify customers that the cost of replacement parts and components will rise due to new tariffs imposed by the Trump administration and rising production costs. Trump’s tariffs include a tariff on steel and aluminum imports and tariffs on imported goods from China, Mexico, and Canada, among others. ProFix Appliance Service, for example, informed consumers that as a manufacturer-authorized service provider, it must abide by all manufacturer pricing, noting “This means that when the cost of a part increases, it directly impacts repair estimates.” ProFix said it had already received notice from two manufacturers that price increases would take effect in March. In an analysis by Yale Appliance, consumer costs rose by 12% for washing machines and related appliances from tariffs during Trump's first term. Supply chain disruptions also marked the period as manufacturers were forced to seek alternative suppliers or absorb the higher costs.
• Consumer confidence levels, an indicator of discretionary spending, fell in April 2025 month over month, dropping by 7.9 points, according to the Consumer Confidence Index from the Conference Board. Consumer confidence levels have fallen for five consecutive months, reaching levels not seen since the beginning of the COVID pandemic, according to The Conference Board, which publishes the monthly index. In addition, the final index of consumer sentiment from the University of Michigan dropped 8% in April 2025 from the previous month, according to CFO Dive. An index measuring consumers’ expectations for the future fell nearly a third since January, the steepest three-month percentage decline since the 1990 recession. According to survey director Joanne Hsu, “Consumers perceived risks to multiple aspects of the economy, in large part due to ongoing uncertainty around trade policy and the potential for a resurgence of inflation looming ahead.”