The Top 5 Major Home Appliance Brands in the World
Seoul, South Korea
General Electrics Co.
Fairfield, Connecticut, USA
Sources: Euromonitor International. Top 5 of Anything research.
List Notes: Data is for the year 2009 ranked according to market share.
Share on Social Media:
The impact of the global economic recession was forecasted to cause global shipments of home appliances to fall by 8% in 2009. Countries in Western and Eastern Europe were projected to see the steepest drop in appliance shipments while Latin America, Africa, and parts of Asia were forecasted to outperform the global average. (a.)
The market for semiconductors in major home appliances will grow to over $1.5 billion by 2013 as penetration of displays, touch controls, and variable speed motor control rises. (a.)
Euromonitor International's rankings place Haier's refrigeration appliances and Haier's home laundry appliances first by global brand name, with 10.4% and 8.4% retail volume market share respectively, up 3.7 point and 1.5 point from 2008. (b.)
In 2009, consumer appliances in China recorded single-digit growth, which was slightly lower than the growth in 2008, mainly due to the economic slowdown. Small appliances continued to see rapid growth in 2009 in spite of the financial crisis. On the one hand, players launched low-end brands to attract price-sensitive consumers. On the other, increased living standards continued to drive up demand for small appliances in Chinese households. Niche products such as tabletop ovens experienced remarkable growth over the review period. Compared with the lacklustre performance in mass market large kitchen appliances, high-end refrigerators and washing machines saw robust growth in urban areas in China. More players had their eye on exploring the high end of the market, and concentrated on developing premium products such as side-by-side or three-door refrigerators, and tumble drum washing machines. This trend is in line with rising disposable incomes and increasing consumer sophistication. (b.)
Despite the federal government's attempts to spur banks to lend and to provide incentives for first-time home buyers, the number of new homes purchased fell in 2009 for the third consecutive year. While the average unit price of small appliances is far lower than that of major appliances, rising unemployment levels and the consequent declines in household discretionary incomes contributed to declines in volume and value sales of the small appliances industry. The two largest manufacturers of major appliances in the US, Whirlpool Corp and General Electric Co (GE), both unveiled some of their plans to manufacture their appliances to be smart-grid compatible. Smart appliances are able to ascertain when energy use is at its peak and therefore delay their function until energy use has fallen. While both of these companies cite 2015 as a target for when their appliances will all be manufactured with smart technology, smart meters as well as pricing structures for peak and non-peak energy times are still needed to make this a reality in the US. (c.)
Top 5 facts sources:
IMS Research. (2009). "The World Market for Major Home Appliances". Retrieved October 23, 2010.
Euromoniter International. (2010). "Consumer Appliances in China". Retrieved October 23, 2010.
Euromoniter International. (2010). "Consumer Appliances in the US". Retrieved October 23, 2010.