U.S. Household Cooking Appliance Market. Analysis And Forecast to 2025
China Dominates in U.S. Household Cooking Appliance Imports, Taking Benefit from Steady Import Growth
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The U.S. is the leader in global imports of household cooking appliance, with a 20% share (based on USD), followed by Germany (7%), the UK (6%) and France (6%). In 2015, U.S. household cooking appliance imports totaled 5,617 million USD, which was 465 million USD (9%) more than the year before.
From 2007 to 2015, U.S. household cooking appliance imports showed mixed dynamics. A decline in 2008 was followed by a 13% drop in 2009. In 2010, imports bounced back and remained stable in 2011. From 2012 to 2015, the trend turned upward and grew steadily in the recent years, supported by strong housing starts and consumer spending. In 2013, the U.S. household cooking appliance importers overcame the pre-recession import level achieved in 2007.
Being the global major consuming market, the U.S. remains one of the most attractive destinations for overseas suppliers. China was the dominant supplier of household cooking appliance into the U.S., with a 64% share of total U.S. imports in 2015, in value terms. However, the fastest growing supplier was Thailand (+18.4% per year, ranking third in 2015, with a 7% share of total imports), while China and Mexico recorded growth paces of less than 4%. Thailand strengthened its position in U.S. imports, remaining, however, the minor supplier.
From 2007 to 2015, the U.S. was a net importer of household cooking appliance. Moreover, imports grew faster than exports on average over the period under review.
The U.S. trade deficit in this sector worsened over the period under review, growing from 3,844 million USD in 2007 to 4,704 million USD in 2014. This negative trend accelerated sharply after 2012, with the trade deficit increasing by 7.6% annually from 2009 to 2015.
Source: IndexBox AI Platform
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