Midea is the leading player in the global consumer appliances market, with top three places in a number of categories, including leading air treatment products and microwaves. The Chinese company is also one of the main drivers of the smart home trend, launching AI-driven products in both consumer appliances and beyond. One area it could look to improve on is continuing to lessen its dependence on its home market, targeting dynamic countries in Asia as well as other parts of the world.

In a challenging 2023, with high inflationary pressures, Electrolux AB experienced a decline in sales. However, with growth in refrigeration appliances and strong brand rankings in various markets, the company may be able to achieve future growth over the forecast period, taking advantage of its special focus on design and sustainability, with key categories expected to increase in demand, in both major and small appliances.

LG Corp has demonstrated resilient growth by focusing on sustainable and innovative home solutions, thriving despite a decline in industry unit sales due to post-pandemic normalisation and inflation. By offering appliances that combine luxury, functionality and energy efficiency, LG aligns with modern sustainable home solutions. The company's strength in major appliances has propelled its transformation into a smart life solutions leader through servitisation, enhancing accessibility and market

The Chinese vacuum cleaner market is the most competitive and innovative. Brands are known to launch two new models a year, trying to out-innovate each other. These brands are now at the leading edge of technological innovation in self-cleaning wet and dry vacuum cleaners. Read this briefing to find out more about how these brands are revolutionising the vacuum cleaner industry.

In 2023, small appliances saw growth, as consumers replaced their small appliances purchased during the pandemic, especially as many continue to adopt hybrid or remote working. The industry has strong growth prospects over the forecast period, with trends such as smart home and AI-enabled features enhancing consumers’ experience at home. Furthermore, manufacturers are going beyond just selling products by providing continuous service options throughout the appliance’s life cycle.

Industry stakeholders are increasingly debating between sustainability and technology leadership strategies in the appliances market. As margins continue to shrink, leadership in either category is critical to maintain continued competitiveness. In this briefing, we will debate the merits of both approaches and find a potential path to sustained growth and profitability for companies.

Whirlpool Corp is a top 10 manufacturer of consumer appliances globally, and its strength lies in major appliances in the North American market. The firm lost market share due to challenges meeting the COVID-19-induced surge in demand and has restructured its operations to focus on regions best positioned for growth moving forward. The firm faces stiff competition from private label brands and players in the premium space which have differentiated with design-forward and smart appliances.

Arçelik AS is global consumer appliances manufacturer, originating in Turkey. With 12 brands, 30 production facilities and 82 subsidiaries, the company is present in almost all continents. The strongest segment for the company is major appliances in the EMEA region. To maintain and scale up its position, the company is involved in several prominent M&A activities, and invests aggressively in technology and R&D to address consumer needs and help society around the globe.

Haier Group is a world leader in consumer appliances. It realised strong growth over the past years despite the pandemic-related adversities with a multi-brand, connectivity-focused strategy. It has the potential of not only penetrating more markets with competitive products but also revolutionising smart home with its pioneering Three-winged Bird initiative. Haier is set to continue cashing in its technological prowess and brand dominance as a disruptor of the industry from the global south.

After falling for two years, Asia Pacific sales of small appliances recorded positive, albeit very modest, growth in 2022, with the dynamic Indian market helping to offset the continued declines being seen in China and Japan. Stronger growth rates are expected over the forecast period, with Asia Pacific consumers looking for devices that offer them convenience and, where possible, multifunctionality. Smart and connected devices are also expected to enjoy increasing demand in the coming years.

Western Europe saw a clear spike in sales of small appliances in 2020, when Coronavirus (COVID-19) hit the region, as consumers were cooking and eating more at home, and looking for products that helped make this easier for them. Further growth was seen in 2021, with the pandemic still present in the region, but sales will slip into reverse in 2022, as society normalises, with only modest performances expected in the rest of the forecast period