Household Appliance Manufacturers


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Industry Profile Report

Dive Deep into the industry with a 25+ page industry report (pdf format) including the following chapters

Industry Overview Current Conditions, Industry Structure, How Firms Operate, Industry Trends, Credit Underwriting & Risks, and Industry Forecast.

Call Preparation Call Prep Questions, Industry Terms, and Weblinks.

Financial Insights Working Capital, Capital Financing, Business Valuation, and Financial Benchmarks.

Industry Profile Excerpts

Industry Overview

The 280 household appliance manufacturers in the US produce both major appliances and small electrical appliances for home use by consumers. In the major appliance category, primary products include cooking equipment (stoves, ovens, ranges), laundry equipment, refrigerators, freezers, dishwashers, and water heaters. Small electrical appliances encompass a wide range of products, including can openers, food preparation equipment, fans, hair dryers, and vacuum cleaners.

Dependence on Construction Activity

New residential construction and people moving from one house to another drive demand for household appliances.

Demand for Connected Appliances

Manufacturers are responding to rising consumer interest in appliances that feature internet connectivity, or smart appliances.

Industry size & Structure

The average US household appliance manufacturer operates out of a single location, employs about 250 workers, and generates revenue of about $100 million annually.

    • The US household appliance manufacturing industry consists of about 280 companies that employ about 70,000 workers and generate about $28 billion annually.
    • The industry is highly concentrated; the top 20 companies account for about 93% of industry revenue.
    • Major companies include Bosch, Electrolux, Haier, LG, Samsung, and Whirlpool. Of these, only Whirlpool is headquartered in the US, but all have US manufacturing facilities. Whirlpool, in turn, has substantial operations outside the US. Supply chains for household appliances typically span multiple countries.
    • The major household appliance manufacturing segment accounts for 84% of industry revenue and 82% of industry employment.
                                    Industry Forecast
                                    Household Appliance Manufacturers Industry Growth
                                    Source: Vertical IQ and Inforum

                                    Recent Developments

                                    Mar 22, 2024 - Wage Growth Outstrips Pricing
                                    • Producer prices for household appliances increased slightly year-over-year in Q4, but price growth was mostly flat in 2023, according to the Bureau of Labor Statistics (BLS). However, BLS data show that significant industry wage growth in Q4 was more than four times higher than the rate of pricing growth. If appliance manufacturers can’t raise prices while wages are increasing, margins may suffer. Appliance manufacturer employment increased slightly in Q4 year-over-year, according to the BLS.
                                    • The National Association of Home Builders (NAHB) expects the residential remodeling market to remain flat in 2024 compared to 2023, then grow by about 2% in 2025. Remodeling is supported by a lack of existing homes on the market, high homeowner equity, and the aging of US housing stock. However, finding skilled labor is still a challenge for remodelers. Kitchen remodels are a key demand driver for new appliance purchases.
                                    • Sales of existing US homes increased by 9.5% in February from January but were down 3.3% year-over-year, according to the National Association of Realtors (NAR). NAR chief economist Lawrence Yun said, "Additional housing supply is helping to satisfy market demand. Housing demand has been on a steady rise due to population and job growth, though the actual timing of purchases will be determined by prevailing mortgage rates and wider inventory choices." Existing home sales help drive demand for household appliances. Homeowners often replace appliances before putting their house on the market, and buyers typically do remodels and upgrade appliances before moving in.
                                    • Home builder confidence improved in March amid a lack of existing homes on the market and moderating mortgage rates that remained below 7%, according to the National Association of Home Builders (NAHB). Home builder sentiment, as measured by the NAHB/Wells Fargo Housing Market Index (HMI), rose three points to 51 in March 2024, which marked the highest HMI reading since July 2023 and the fourth consecutive month of strengthening confidence. Any HMI reading over 50 indicates that more builders see conditions as good than poor. The NAHB said that while lower interest rates have improved affordability and drawn more buyers back to the market, 2024 could bring supply-side headwinds, including shortages of workers, materials, and available lots. Home builders are significant buyers of major household appliances.
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