Home Appliance Repair & Parts Growth In The US 2024-2031

In the modern world, home appliances serve as a major tool to make lives easier and more convenient. Homeowners are increasingly making a heavy investment in these machines. They are opting for repair rather than replacement, escalating the demand for home appliance repair and replacement parts, particularly in the United States. With the home appliance repair market growing, it is vital to understand the driving factors that drive this market growth. Advancements in technology, the growing popularity of E-commerce for spare parts, as well as an increased appreciation for environmental responsibility are changing the face of the home appliance industry. In this blog, we will discuss the different factors that have led to the growth of the home appliance repair and parts market and will go through the changing needs of consumers and opportunities for businesses in the future.

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Market Drivers in the Appliance Repair Industry

Increased use of appliances in households, such as refrigerators, washers, and dryers has generated a strong demand for maintenance and repair services for these household items. Because living has become busier and more reliant on these gadgets for convenience and efficiency.

• Cost of new appliances: A study suggests repair is increasingly being considered more desirable than new because of the rising cost of new appliances, and Repair costs continue to climb and rise faster than you may think. For high-ticket items, many households realize that it is often much cheaper to repair a malfunctioning appliance than to buy a new one.

• The trend of DIY (Do It Yourself) repairs: In recent years, consumers looking for affordable fixes for their damaged or faulty appliances have been drawn towards performing DIY repairs. Online forums and tutorials that have sprung up in the past few years to help people do the work have made this shift in the blink of an eye thanks to the Internet. 

• Extended lifespan of appliances: Household appliances have become more technologically advanced and higher in manufacturing quality, allowing appliances to have a longer lifespan. This will be good for the consumers but it will also lead to an increase in demand for replacement parts. 

 The Importance of ENERGY STAR Ratings in Choosing Home Appliances

Market Segmentation & Growth Insights

Several key factors are driving the market for appliance parts and repairs in different segments, which are rapidly evolving. Besides, the segmentation also reveals the different types of consumer needs and growth opportunities in the industry. 

• By appliance type: A large market exists for appliance parts and repair because of a strong demand for major appliances such as refrigerators, washing machines, and dryers. Homeowners are keen to repair or replace parts of these appliances as they are important to everyday life. 

• By repair type: Instead, the focus on routine maintenance and part replacement goes up, as customers try to eliminate major breakdowns. Preventative maintenance strategies are being seen more and more as a way to maintain machines by way of timely inspections and repairs. 

• By distribution channel: Appliance parts are distributed through e-commerce platforms, which provide convenience and more choices to the consumer. Online shopping has made it easy to access products and in most cases, the prices are competitive.

• Regional growth: With higher appliance usage by residents, appliance parts and repair services are experiencing significant growth in urban areas. City life is fast-paced and as such, household appliances are relied upon more and more resulting in a high demand for maintenance and repair solutions. 

Key Challenges in the Market

Some critical challenges in the appliance repair market can affect the growth and service quality of the market. Stakeholders wishing to understand the increasingly difficult task ahead can’t afford not to understand these challenges. 

Key Market Players and Innovations

There are major players in the appliance repair and parts industry that contribute innovative solutions for service quality and sustainability. Companies operating in the market, the technologies that are being used, and the green technology trends are discussed here.

The US home appliance repair and parts industry Players:

The US home appliance repair and parts industry is dominated by the following companies:

• American Appliance Repair

• Multi Appliances Repair

• Dynamic Appliance Repair

• Happy Home Appliance Repair

• Appliance Home Service Houston

• Active Group Affiliate

• BSH Home Appliances Group

• Appliance Repair Service, Inc.

• Marcone Inc.

• LG Electronics

• GE Appliances

• Abt Electronics Inc.

• Mt. Vernon T.V. & Appliance Inc

• Sears Parts Direct (Transform SR Brands, LLC)

• RepairClinic, LLC

Innovative repair solutions:

Smart diagnostics tools are being introduced in the industry that simplify the repair process. The diagnostic time is reduced and service efficiency is increased using these technologies which enable technicians to identify appliance problems in a short time. Not only do such innovations enhance customer satisfaction, but also they speed up the turnaround for repairs.

Market Growth Projections

The steady compound annual growth rate (CAGR) of 2.6% (2024 – 2031) is driven by the growing need for repairs and replacement parts as well as a growth in appliance ownership.

• The market is projected to reach a value of USD 5,623.3 million by 2031.

• It is expected that kitchen appliances and laundry equipment will assume the positions of key sectors in terms of driving growth.

The market grows very fast together with the growing population, which has become more and more aware of preventive maintenance and higher appliance lifespan extension. Appliance quality repair services and replacing defective parts not only increase the performance of the appliances but also save resources in the long run. We encourage consumers and businesses to take care of their home appliances by doing regular maintenance and adopting sustainable practices, for the long term, to get reliable home appliances for years to come. At HnK Parts, we provide an extensive range of premium kitchen appliance components from leading manufacturers at affordable prices. Whether you need parts for dishwashers, dryers, microwaves, or refrigerators, we've got everything you need.

FAQs

Why is the e-commerce platform surging in the appliance parts market?

The e-commerce platform is surging due to the availability of genuine appliance parts that offer both convenience and quick delivery for customers.

What is driving the demand for energy-efficient replacement parts?

The demand for energy-efficient replacement parts is driven by their alignment with eco-friendly goals, which are fueling innovation in the industry.

Why is there a growing demand for specific repair services and parts for smart appliances?

The growing demand is due to the increasing complexity of smart appliances, which require tailored repair services and specific parts to support their functionality.