The global household appliance market is one of the most profitable industries in the world. Driven by an increasing global need for fast, modern, and easy-to-operate appliances, as well as surging trends for microwavable foods, cookouts, and sustainable waste management, manufacturers around the world are profiting substantially.
Today, the household appliance manufacturing industry accounts for a significant portion of the global market. In 2019 the industry was valued at $307.6 billion, a 6.9 percent growth since 2015. Estimates now suggest the international appliance manufacturing market will continue growing at an expedited rate of nearly 9 percent, reaching $433.4 billion by the end of 2023.
Appliance manufacturers are some of the most profitable corporations in the world. The multi-billion-dollar industry includes manufacturing electrical and mechanical devices and appliances for private household and professional commercial use.
Many of the world’s largest appliance manufacturers design, develop, and sell a wide range of kitchen, laundry, and household appliances in facilities across the globe.
From microwaves, ovens, toasters, and other smaller domestic devices, to refrigerators and freezers, dishwashers, washing and drying machines, and more, the world’s largest appliance manufacturers offer consumers various options when purchasing appliances for private, domestic, and commercial use.
Internationally, several major players are driving the appliance manufacturing industry’s growth throughout the world. To break it down, we’ve assembled a list of the ten largest appliance manufacturers in the world, based on their reported annual sales and revenues in 2020.
10 Largest Appliance Manufacturers In The World
Here are the top 10 largest appliance manufacturers in the world, ranked by total annual sales:
Panasonic. Kadoma, Japan
Annual Sales: $73.1 billion
Number Of Employees: 259,385
Panasonic is one of the best-known manufacturers of appliances globally, so it’s no surprise that they also rank as the largest, most profitable, international appliance distributor. Founded in 1918, the company has grown considerably in its 103-year history.
Today, Panasonic, formally known as the Matsushita Electric Industrial Company, generates billions of dollars each year, employs hundreds of thousands of people across the globe, and owns more than 520 consolidated companies.
The appliance manufacturing giant offers a wide range of products and services for private homes, offices, and storefronts. They have a vested interest in home, beauty, health, and heating and cooling appliances.
Headquartered in Kadoma, Japan, Panasonic operates throughout Asia and the Pacific Ocean region, Europe, North America, South America, China, and the Northeast Asia region.
LG Electronics. Seoul, South Korea
Annual Sales: $57 billion
Number Of Employees: 222,000
LG Electronics is the second largest appliance manufacturing company in the world and the fourth-largest international LCD television manufacturer. Koo In-hwoi originally founded the business in 1958 as GoldStar, then changed names in 1995 to LG Electronics, and was again reincorporated in 2002.
With more than 125 operations across the globe, LG Electronics sells home entertainment, mobile communications, home appliances, air solutions, and vehicle component systems and appliances to consumers in virtually every region of the world.
With a mission to bring added value to the lives of consumers, LG Electronics offers a wide range of refrigerators, washing machines, dishwashers, cooking appliances, vacuum cleaners, air conditioners, TVs, audio and video systems, PCs, computer monitors, HVAC units, mobile devices, and other home appliances.
In its 62 year history, the multinational appliance corporation has become best known for its line of televisions, refrigerators, and washing machines. Although LG Electronics is headquartered in Seoul, South Korea, the appliance company manufactures many of its products from Mexico, Poland, Indonesia, Russia, China, and India.
Haier Electronics Group. Hong Kong Island, Hong Kong
Annual Sales: $31.12 billion
Number Of Employees: 16,775
Haier Electronics Group and Haier Smart Home Company consistently rank on the global Fortune 500 list, so it’s no surprise that the billion-dollar Hong Kong-based business is the third largest appliance manufacturer globally.
Founded in 1984, Haier Electronics Group specializes in designing, developing, researching, manufacturing, and selling washing machines, water heaters, refrigerators, televisions, air conditioners, and other home electric appliance products, including computers and mobile phones.
Haier Electronics Group is especially popular in the People’s Republic of China. However, the corporation also owns several global brands, including Hotpoint, GE Appliances, Hoover, Candy, Fisher Paykel, and Sanyo.
Of Haier Electronics Group’s daughter companies, Hotpoint and GE Appliances are especially popular in the United States. On average, Hotpoint generates an estimated $2.8 million in annual revenue, while GE Appliances, headquartered in Louisville, Kentucky, earns a staggering $6.3 billion in annual revenue.
Gree Electric Appliances. Zhuhai, China
Annual Sales: $28.8 billion
Number Of Employees: 88,846
Generating several billion dollars in annual sales each year, Gree Electric Appliances is one of the highest-grossing appliance manufacturing corporations in the world.
The appliance megacorp specializes in manufacturing commercial and household air conditioners and ranks as the world’s largest manufacturer of residential air conditioners.
As the fourth largest overall international appliance manufacturing business, Gree Electric Appliances primarily serves customers in China and abroad through several production bases in China, Brazil, and Pakistan.
In addition to air conditioners, Gree Electric Appliances also produces a line of supplementary household appliances, including electric fans, rice cookers, air purifiers, humidifiers, and more.
Founded in 1991, the company is now chaired by Dong Mingzhu and publicly traded on the Shenzhen Stock Exchange.
In its 30 year history, Gree Electric Appliances has grown considerably and in 2012 was the first electrical appliance enterprise in the People’s Republic of China to reach a total annual sales revenue of more than 100 billion yuan, or roughly $16 billion.
Bosch-Siemens Hausgeräte. Munich, Germany
Annual Sales: $16.78 billion
Number Of Employees: 60,000
Bosch-Siemens Hausgeräte is the fifth largest appliance manufacturer globally and the largest and leading appliance manufacturer in Europe. Although the company is one of the largest in the world, it prides itself on managing its business operations while avoiding any Co2 emissions and leaving behind no carbon footprint.
Headquartered in Munich, Germany, the appliance corporation operates 38 production sites across Europe, the United States, Latin America, and Asia. It has a network of nearly 80 sales, production, and service companies in more than 50 countries across the globe.
Despite the challenges presented by the international COVID-19 pandemic, the environmentally-sustainable company recorded record sales in 2020, reporting annual revenue of €13.9 billion, or roughly $16.78 billion.
Bosch-Siemens Hausgeräte, or BSH, is best known for their global brand, which include Bosch, Gaggenau, Neff, and Siemens. Some of Bosch-Siemens Hausgeräte’s best-selling products include dishwashers, washing and drying machines, refrigeration and freezing appliances, and automatic espresso machines.
Annual Sales: $21.25 billion
Number Of Employees: 92,000
Whirlpool Corporation is one of the best-known appliance manufacturers in the United States, so it’s no surprise that the company ranks among the ten largest appliance manufacturers in the world.
Founded in November 1911, Whirlpool Corporation now operates more than 55 manufacturing and research centers worldwide, including nine facilities in the United States in Iowa, Oklahoma, Tennessee, Ohio, and Massachusetts.
In its 110 year history, the Whirlpool Corporation has grown to be one of the world’s leading laundry and kitchen appliance manufacturing companies. Whirlpool Corporation owns and markets several brands, including Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, JennAir, and Indesit.
The Whirlpool Corporation currently manufactures and sells its products in nearly every country across the world with a vision to “be the best kitchen and laundry company, in constant pursuit of improving life at home.”
Electrolux AB. Stockholm, Sweden
Annual Sales: $13.3 billion
Number Of Employees: 48,652
Electrolux AB, most commonly referred to as Electrolux, has been manufacturing household appliances for more than 100 years and now ranks as the seventh-largest appliance manufacturing corporation in the world.
The appliance supper company is listed on the Stockholm Stock Exchange and markets its products under several brands, including Electrolux, Gibson, Anova Applied Electronics, Simpson, AEG, Frigidaire, and more.
Founded in 1919, Electrolux now sells roughly 60 million household appliances in more than 120 global markets each year. To aid the distribution and manufacturing processes, the appliance company is organized into six business areas: Europe, North America, Latin America, Asia-Pacific, Middle East, and Africa.
Electrolux AB manufacturers commercial use and home use appliances and are best known for their line of refrigerators, freezers, ovens, cookers, hoods, microwave ovens, dishwashers, washing machines, and tumble dryers, vacuum cleaners, air conditioners, air purifiers, and smaller domestic appliances.
Groupe SEB SA. Ecully, France
Annual Sales: $8.2 billion
Number Of Employees: 25,985
Despite Groupe SEB SA being a lesser-known company in the United States, they are an equally profitable global appliance manufacturing market leader. The company was founded a staggering 164 years ago, in 1857, and is based in Ecully, France, although most products are manufactured in China.
In addition to producing and selling small household appliances, Groupe SEB SA is one of the largest manufacturers of cookware in the world. The company owns several brands, including All-Clad, IMUSA, Krups, Moulinex, Rowenta, Tefal, WMF Group, and more than 1,300 retail stores worldwide.
With a mission to “make consumers’ everyday lives easier and more enjoyable, and contribute to better living worldwide,” Groupe SEB SA manufactures its products in more than 150 countries through a network of 40 industrial entities.
The appliance manufacturing corporation’s most popular products include electrical cooking and food preparation electronics, cookware, and home and personal care appliances.
Maytag Corporation. Benton Harbor, United States
Annual Sales: $3.84 billion
Number Of Employees: 2,500
Maytag Corporation, a daughter company of the Whirlpool Corporation, ranks as the ninth-largest appliance manufacturer in the world in terms of annual revenue. The Michigan-based company has been manufacturing home appliances since Frederick Maytag founded it in 1893 in Newton, Iowa.
In its nearly 130-year history, the Maytag Corporation has grown to be a leader in manufacturing dependable kitchen and laundry appliances. The company is best known for its line of washing machines, drying machines, refrigerators, ranges, dishwashers, and microwaves.
In addition to manufacturing and selling home appliances in the United States, the billion-dollar company also markets its products in Mexico, the United Kingdom, Japan, and Australia.
Today, Maytag owns several appliance brands, including Maytag, Jenn-Air, Amana, Magic Chef, Hardwick, Admiral, Jade, Sunray, and more. Maytag continues to market their products using the “Maytag Man” and its creative business slogan “What’s Inside Matters” to promote the performance, dependability, and power of Maytag appliances.
Indesit Company. Fabriano, Italy
Annual Sales: $3.26 billion
Number Of Employees: 16,000
Rounding out the world’s ten largest appliance manufacturers is the Indesit Company, based in Fabriano, Italy. Founded in 1953, the Indesit Company, a daughter company of the Whirlpool Corporation, prides itself on offering customers affordable and reliable kitchen and home appliances.
The mega manufacturing company is one of the leading distributors of major home appliances — including washing machines, drying machines, dishwashers, refrigerators, freezers, ovens, hoods, and more — in Europe.
The Indesit Company has several production sites in Italy, Poland, the United Kingdom, Russia, and Turkey. It markets its products under numerous brands, including Indesit, Hotpoint-Ariston, Scholtès, Stinol, and Termogamma.
In its 68 year history, the company has seen tremendous growth, especially in its major markets of Italy, the United Kingdom, and Russia.
The company became part of the Whirlpool Corporation in October 2014 and has continued to grow since the acquisition by working closely with Whirlpool Corporation safety experts to review the Indesit Company’s appliance portfolio.