Home Appliance Services Market Report 2024 (Global Edition)

Global Home Appliance Services Market Report 2024 Market Size Split by Type Outlook: (Refrigerators repair, Ovens repair, Washers repair, Dryers repair, Others), by Application Outlook: (Personal, Ent...

Home Appliance Services Market Report Description

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Home Appliance Services Market Insights Video

Competitive Landscape of the Home Appliance Services Market

Major businesses with a large number of local and regional service providers control the majority of the market. These competitors concentrate on offering prompt, effective, and practical home appliance services for a variety of appliances, such as freezers, ovens, washers, dryers, and more. These days, businesses are assessing the market by pursuing their preferred tactics, which include collaborations, expansions, investments, mergers & acquisitions, and new product creations. Furthermore, using the reputation of the brand, providing authorized repairs and authentic replacement parts, giving extensive coverage plans, and emphasizing customer pleasure through superior service quality are some strategies. In order to draw in and keep clients, local and regional service providers frequently provide individualized and tailored services, foster enduring connections with clients through word-of-mouth recommendations, and charge affordable prices.

April 2024: In order to provide customized installation, upkeep, and repair services for Samsung appliances, Samsung announced the debut of its "Bespoke Home Service" in the US. (Source: https://news.samsung.com/global/samsung-introduces-latest-home-appliance-lineup-featuring-enhanced-connectivity-and-ai-capabilities-at-the-welcome-to-bespoke-ai-global-launch-event ) April 2023: The Midea Group Co. declared its intention to purchase Electrolux in order to compete in the consumer markets for different appliances, including kitchen appliances, washing machines, air conditioners, and refrigerators, in North America and Europe. (Source: https://m.economictimes.com/news/international/business/chinas-midea-is-said-to-make-takeover-approach-to-electrolux/amp_articleshow/99890229.cms )

Top Companies Market Share in Home Appliance Services Industry: (In no particular order of Rank)

• BJ's Appliance Repair (United States)
• Prompt Appliance Repair Solutions (United States)
• Bosch (Germany)
• GE Appliances (United States)
• LG (South Korea)
• Multi Appliance (United States)
• Siemens (Germany)
• Charlie's Appliance Repair (United States)
• Sai appliance service center (India)
• Abt Electronics (United States)
• ACME (India)
• Platinum Mechanical Services (United States)
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*List of Second Tier Companies, List of Third Tier/ Start-up Companies (Inquire with sales executive) Request Any Company Profile for Preview Purpose OR Data Validation!

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Regional Analysis of the Home Appliance Services Market

Which Region Dominates the Home Appliance Services Market in 2024?

According to Cognitive Market Research, North America currently dominates the Home Appliance Services market, and the region is expected to have significant growth during the projected period. The region's need for specialized repair and maintenance services has increased as a result of the widespread use of smart and linked home appliances. Because of people's hectic schedules and more disposable income, the market has grown significantly as a result of people looking for expert services for appliance maintenance.

Which Region is Expanding at the Fastest CAGR?

Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR) because of the Asia Pacific region's fast urbanization, rising disposable incomes, and the increasing adoption of intelligent and energy-efficient appliances. In countries like China, India, and Japan, there is a growing need for home appliances, which is increasing the demand for installation, maintenance, and repair services.

The current report Scope analyzes Home Appliance Services Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com

• North America (United States, Canada, Mexico)
• Europe (United Kingdom, France, Germany, Italy, Russia, Spain, Sweden, Denmark, Netherlands, Switzerland, Belgium)
• Asia-Pacific (China, Japan, Korea, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest of APAC)
• South America (Brazil, Argentina, Colombia, Peru, Chile, Rest of South America)
• Middle East and Africa (Saudi Arabia, Turkey, Nigeria, UAE, Egypt, South Africa, GCC Countries, Rest of MEA)

The above graph is for illustrative purposes only.

North America Home Appliance Services Market

According to Cognitive Market Research, the global Home Appliance Services market size was estimated at USD 745812.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 298325.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.

• According to Cognitive Market Research, the US had a major share in the Home Appliance Services market with a market size of USD 235378.43 million in 2024 and is projected to grow at a CAGR of 4.5% during the forecast period as a result of rising levels of urbanization and disposable income.
• The Canada Home Appliance Services market had a market share of USD 35799.00 million in 2024 and is projected to grow at a CAGR of 5.5% during the forecast period because home appliances are so widely used in this nation.
• The Mexico Home Appliance Services market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 27147.58 million in 2024.

Europe Home Appliance Services Market

According to Cognitive Market Research, the global Home Appliance Services market size was estimated at USD 745812.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 223743.75 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.

• The United Kingdom Home Appliance Services market had a market share of USD 37588.95 million in 2024 and is projected to grow at a CAGR of 5.8% during the forecast period due to an increase in middle-class consumers' need for energy-efficient equipment.
• The France Home Appliance Services market is projected to witness growth at a CAGR of 4.2% during the forecast period, with a market size of USD 20584.43 million in 2024.
• According to Cognitive Market Research, the German Home Appliance Services market size was valued at USD 44301.26 million in 2024 and is projected to grow at a CAGR of 5.2% during the forecast period because customers are becoming more interested in appliances and because residential infrastructure construction is growing.
• The Italy Home Appliance Services market is projected to witness growth at a CAGR of 4.4% during the forecast period, with a market size of USD 19241.96 million in 2024.
• The Russia Home Appliance Services market is projected to witness growth at a CAGR of 4.0% during the forecast period, with a market size of USD 34680.28 million in 2024.
• The Spain Home Appliance Services market is projected to witness growth at a CAGR of 4.1% during the forecast period with a market size of USD 18346.99 million in 2024
• The Luxembourg Home Appliance Services market is projected to witness growth at a CAGR of 5.1% during the forecast period, with a market size of USD 6936.06 million in 2024.
• The Portugal Home Appliance Services market is projected to witness growth at a CAGR of 4.8% during the forecast period, with a market size of USD 4698.62 million in 2024.
• The Greece Home Appliance Services market is projected to witness growth at a CAGR of 5.3% during the forecast period, with a market size of USD 2684.93 million in 2024.
• The Rest of Europe's Home Appliance Services market is projected to witness growth at a CAGR of 3.7% during the forecast period, with a market size of USD 34680.28 million in 2024.

Asia Pacific Home Appliance Services Market

According to Cognitive Market Research, the global Home Appliance Services market size was estimated at USD 745812.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 171536.88 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.5% from 2024 to 2031.

• According to Cognitive Market Research, the China Home Appliance Services market size was valued at USD 77191.59 million in 2024 and is projected to grow at a CAGR of 8.0% during the forecast period due to increased levels of disposable income and urbanization.
• The Japan Home Appliance Services market is projected to witness growth at a CAGR of 7.0% during the forecast period, with a market size of USD 23672.09 million in 2024.
• The India Home Appliance Services market had a market share of USD 20584.43 million in 2024 and is projected to grow at a CAGR of 10.3% during the forecast period because consumers' interest in appliances is expanding and there is an increase in the building of residential infrastructure.
• The South Korean Home Appliance Services market is projected to witness growth at a CAGR of 7.6% during the forecast period, with a market size of USD 17153.69 million in 2024.
• The Australian Home Appliance Services market is projected to witness growth at a CAGR of8.2% during the forecast period, with a market size of USD 8919.92 million in 2024.
• The South East Asia Home Appliance Services market is projected to witness growth at a CAGR of 9.5% during the forecast period, with a market size of USD 11836.04 million in 2024.
• The Rest of Asia Pacific Home Appliance Services market is projected to witness growth at a CAGR of 8.3% during the forecast period, with a market size of USD 12179.12 million in 2024.

South America Home Appliance Services Market

According to Cognitive Market Research, the global Home Appliance Services market size was estimated at USD 745812.5 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 37290.63 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.9% from 2024 to 2031.

• According to Cognitive Market Research, the Brazil Home Appliance Services market size was valued at USD 15960.39 million in 2024 and is projected to grow at a CAGR of 6.5% during the forecast period because household appliances are used so extensively in this country.
• Argentina's Home Appliance Services market had a market share of USD 6264.83 million in 2024 and is projected to grow at a CAGR of 6.8% during the forecast period because middle-class consumers' need for energy-efficient technology is growing.
• Colombia Home Appliance Services market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 3318.87 million in 2024.
• Peru Home Appliance Services market is projected to witness growth at a CAGR of 6.1% during the forecast period, with a market size of USD 3057.83 million in 2024.
• Chile Home Appliance Services market is projected to witness growth at a CAGR of 6.2% during the forecast period, with a market size of USD 2684.93 million in 2024.
• The Rest of Latin America's Home Appliance Services market is projected to witness growth at a CAGR of 5.0% during the forecast period, with a market size of USD 6003.79 million in 2024.

Middle East and Africa Home Appliance Services Market

According to Cognitive Market Research, the global Home Appliance Services market size was estimated at USD 745812.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 14916.25 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.2% from 2024 to 2031..

• The GCC Countries Home Appliance Services market is projected to witness growth at a CAGR of 7.0% during the forecast period, with a market size of USD 6384.16 million in 2024 due to the widespread usage of home appliances in this nation.
• The Egypt Home Appliance Services market is projected to witness growth at a CAGR of 6.5% during the forecast period, with a market size of USD 1566.21 million in 2024.
• The South Africa Home Appliance Services market is projected to witness growth at a CAGR of 7.2% during the forecast period, with a market size of USD 2356.77 million in 2024 because there is a growing demand for appliances among customers and a rise in the construction of residential infrastructure.
• The Turkey Home Appliance Services market is projected to witness growth at a CAGR of 5.7% during the forecast period, with a market size of USD 1282.80 million in 2024.
• The Nigeria Home Appliance Services market is projected to witness growth at a CAGR of 5.3% during the forecast period, with a market size of USD 1566.21 million in 2024.
• The Rest of the MEA Home Appliance Services market is projected to witness growth at a CAGR of 5.2% during the forecast period, with a market size of USD 1760.12 million in 2024.

Home Appliance Services Market Analysis

How are Segments Performing in the Global Home Appliance Services Market?

Home Appliance Services Market Type Segment Analysis

According to Cognitive Market Research, the refrigerators repair category is likely to dominate the Home Appliance Services Market over the forecast period because refrigerators are necessary in both homes and businesses. Since these appliances are used constantly, there is a greater need for repair services because of their susceptibility to wear and tear. The demand for specialist repair services has increased due to the rise in smart refrigerators, which include sophisticated cooling systems and IoT integration. Furthermore, increasing consumer knowledge of sustainability and energy efficiency is encouraging more people to fix rather than replace existing refrigerators, which is fostering market expansion.

The washer repair is the fastest-growing segment in the Home Appliance Services Market driven by the fact that washing machines are widely used in both public and private settings. The demand for qualified repair experts has increased due to the growing use of high-efficiency washers with cutting-edge features like load sensors and water-saving capabilities. Washers that are used frequently, especially in cities with hectic lifestyles, require frequent maintenance and repairs. Furthermore, the inclination of customers to favor cost-effectiveness and environmental sustainability over new appliance purchases is driving the growth of the washer category in the home appliance services market.

The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Home Appliance Services Industry. Request a Free Sample PDF!

Home Appliance Services Market Application Segment Analysis

According to Cognitive Market Research, the enterprise segment holds the largest share of the market spurred by the growth of establishments like hotels, restaurants, and office buildings that depend on extensive appliance use. For these businesses to continue operating without interruption, regular and dependable appliance repair is necessary. The rising focus on sustainability and efficiency has led businesses to invest more in preventive maintenance and service contracts for appliances in order to minimize downtime and increase their lifespan. This has contributed to the expansion of the home appliance services industry in this sector.

In the Home Appliance Services Market, the personal category has been expanding at a rapid pace as a result of growing home appliance ownership among consumers and the growing use of smart devices in homes. In order to maintain the durability and effectiveness of their appliances, consumers are becoming more and more in need of maintenance and repair services. Further propelling growth in the personal segment is the trend of upgrading to smart and energy-efficient home systems, which has created a need for specialist services.

The above Graph is for representation purposes only. This chart does not depict actual Market share.

Author's Detail

Swasti Dharmadhikari

Research associate at Cognitive Market Research

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Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.

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