Home Appliances Market size was over USD 739.48 billion in 2024 and is anticipated to cross USD 1.55 trillion by 2037, witnessing more than 5.9% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of home appliances is estimated at USD 774.38 billion.
This boost is anticipated by the slated demand for affordability, and the growth in the economic conditions, along with the continuously changing consumer lifestyle acts as a major growth driver for the rise in the appliances rental market share. According to a report by the World Economic Outlook in 2023, global growth is projected to fall to 2.9% in 2023 from 3.4 % in 2022 but is estimated to rise to 3.1% in 2024.
Author Credits: Parul Atri
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