IMARC Group has recently released a new research study titled “South Korea Major Home Appliances Market Report by Product (Refrigerators, Freezers, Dishwashers, Washing Machines, Cookers and Ovens, and Others), Distribution Channel (Hypermarkets and Supermarkets, Specialty Stores, Online, and Others), and Region 2025-2033”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.

South Korea Major Home Appliances Market Overview

The South Korea major home appliances market size was valued at USD 9.8 Billion in 2024. It is projected to grow to USD 13.5 Billion by 2033, with a compound annual growth rate (CAGR) of 3.3% during the forecast period 2025-2033. Growth is driven by factors such as high disposable incomes, rapid urbanization, technological innovations, and increasing demand for space-saving and energy-efficient appliances.

Study Assumption Years

• Base Year: 2024
• Historical Year/Period: 2019-2024
• Forecast Year/Period: 2025-2033

South Korea Major Home Appliances Market Key Takeaways

• Current Market Size: USD 9.8 Billion in 2024
• CAGR: 3.3% during 2025-2033
• Forecast Period: 2025-2033
• Major home appliances include refrigerators, freezers, dishwashers, washing machines, cookers and ovens, and others.
• High disposable incomes and rapid urbanization in South Korea are key growth drivers.
• Rising trend of compact living spaces boosts demand for space-efficient and energy-saving appliances.
• Growing environmental awareness and regulations increase the adoption of eco-friendly appliances.
• The aging population drives demand for appliances designed specifically for seniors.
• Government incentives and subsidies support purchases of energy-efficient products.

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Market Growth Factors

The South Korea major home appliances market is propelled by the country’s high disposable incomes and technological advancements. Rapid urbanization combined with a trend towards smaller living spaces has boosted demand for multifunctional and space-efficient appliances. Consumers are increasingly prioritizing energy-efficient models due to rising environmental consciousness and stringent energy regulations, leading to accelerated market growth.

The COVID-19 pandemic has further surged product applications, intensifying interest in major home appliances for convenience and hygiene. The aging population in South Korea has heightened demand for user-friendly, senior-oriented appliance designs, which further supports market expansion. Moreover, the rising popularity of aesthetically pleasing and technologically advanced appliances continues to drive consumer purchases.

Government initiatives also play a crucial role by offering incentives and subsidies to encourage the adoption of energy-efficient appliances. Alongside these fiscal benefits, a high disposable income among consumers and a growing focus on home improvement projects stimulate growth. Collectively, these factors are expected to sustain steady growth through 2033.

Market Segmentation

Product Insights:

• Refrigerators
• Freezers
• Dishwashers
• Washing Machines
• Cookers and Ovens
• Others

Distribution Channel Insights:

• Hypermarkets and Supermarkets
• Specialty Stores
• Online
• Others

Regional Insights:

• Seoul Capital Area
• Yeongnam (Southeastern Region)
• Honam (Southwestern Region)
• Hoseo (Central Region)
• Others

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Regional Insights

The Seoul Capital Area is identified as a dominant region in the South Korea major home appliances market. Specific market share and CAGR values are not provided in the source. This region benefits from urbanization and higher income levels, driving significant appliance adoption.

Key Players

• BSH Home Appliances Pte. Ltd.
• Dong Yang Diecasting Co. Ltd.
• Electrolux Korea Ltd.
• Haier Electronic Sales Co. Ltd.
• LG Electronics Inc.
• Panasonic Korea Co. Ltd.
• Samsung Electronics Co. Ltd.
• Whirlpool Korea

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