According to Zacks, the Household Appliance Industry is in the top 41% of industries. To be more specific it is ranked 102 out of 251 industries. Therefore, it is expected to outperform the market within the next 3 to 6 months.
With that being said, if you are considering investing, what better way to start than putting your money into an industry that isn't going anywhere? The global market for electric household appliances alone was about 1.5 billion units last year. According to Cision, this number is expected to rise to about 2.1 billion units by the year 2030.
An influx of people with disposable income in the U.S. is the main factor in the market's expansion. As we all know, COVID-19 drastically disrupted supply chains for many manufacturers including large home appliances here in the U.S. Limited staff, limited products, and other related supply chain issues are some of the main challenges the industry faced and are still focused on today.
With our world continuously becoming more and more virtually convenient, consumers adjusted their buying patterns and began to shop online for appliances. Regarding larger appliances like stoves, dishwashers, dryers, etc., the pandemic has had a major impact on buying behavior. DIY projects that involve cooking, decorating, sewing, or anything of the like have become more prevalent over the last 3 years.
Furthermore, the market will experience growth that depends on a number of factors that include but is not limited to:
An increase in smart home living
Growth of the millennial population
A rise in online sales of small home appliances
Demand for energy efficiency and smart sensors
Therefore, if you are looking for an industry to invest in, look no further. The appliance industry is constantly on the rise and the demand for products is always high! Are you a consumer looking for energy-efficient, advanced but affordable appliances? Check out our line of portable, outdoor, tiny home/RV-inspired products, and more on our website or on Amazon, Home Depot, or Lowes (online only).
"Check out our line of innovative appliances!"