Central America and Caribbean White Goods Market Report and Forecast 2024-2032

Central America and Caribbean White Goods Market Outlook

The Central America and Caribbean white goods market size reached nearly USD 39.94 billion in 2023. The market is projected to grow at a CAGR of 6.7% between 2024 and 2032 to reach a value of around USD 71.40 billion by 2032.

Key Trends in the Market

White goods refer to large electrical goods or appliances which are used in the household sector. Though they were traditionally available in white colour, they are now sold in different colours. Washing machines, refrigerators, and large electronic appliances, among others, are some examples of white goods.

• The growing expansion of home and smart appliances manufacturers across countries such as Costa Rica is driving the Central America and Caribbean white goods market growth.

• Growing sales of white goods owing to the rising disposable incomes, expanding distribution channels, and rapid urbanisation, among others, are further boosting the market demand.

• Some of the key Central America and Caribbean white goods market trends include the integration of advanced technologies like Bluetooth and WiFi connectivity in household appliances and growing research activities to develop compact home appliances.

Market Analysis

Based on product, the Central America and Caribbean white goods market segmentation includes air conditioner, refrigerator, washing machine, dishwasher, and microwave oven, among others. On the basis of end use, the market is classified into residential and commercial.

By distribution channel, the market is divided into hypermarkets and supermarkets, speciality store, retail store, and online, among others. The major countries included in the Central America and Caribbean market for white goods include Costa Rica, El Salvador, Guatemala, Panama, and the Caribbean, among others.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter’s five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the key players in the Central America and Caribbean white goods market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• Whirlpool Corporation

• LG Electronics

• Samsung Electronics Co. Ltd.

• Mabe Mexico AV

• Whirlpool Corporation

• AB Electrolux

• Panasonic Corporation

• Groupe SEB

• BSH Hausgeräte GmbH

• Miele & Cie. KG

• Others

Market Share by Product

Air conditioner accounts for a significant portion of the Central America and Caribbean white goods market share. This can be attributed to the warm weather conditions of certain areas in the Caribbean. In addition, extremely humid conditions and heavy rainfall in the region increase the need for air conditioners to control humidity. The robust growth of the commercial and residential sectors is anticipated to further boost the demand for air conditioners in the coming years.

Market Share by Distribution Channel

According to the Central America and Caribbean white goods market, speciality stores hold a significant share as they enable consumers to compare different models while availing product expertise from trained staff.

Meanwhile, the online segment is likely to witness a heightened growth in the forecast period, owing to the shifting preference of consumers towards convenient shopping and the rising demand for doorstep delivery.

Competitive Landscape

Whirlpool Corporation is a multinational manufacturer of home appliances, and kitchen and laundry products, such as washing machines, air conditioners, and refrigerators, among others. It was founded in 1911 and is headquartered in Michigan, the United States.

LG Electronics is a leading multinational company which manufactures display devices, home appliances, multimedia goods, electronic components, and several types of home appliances. The company was founded in 1958 and is headquartered in Seoul, South Korea.

Samsung Electronics Co. Ltd. is a multinational electronics corporation which manufactures a wide range of consumer and industrial electronic equipment and devices. It was established in 1969 and is headquartered in Suwon-Si, South Korea.

Other Central America and Caribbean white goods market players include Mabe Mexico AV, AB Electrolux, Panasonic Corporation, Groupe SEB, BSH Hausgeräte GmbH, and Miele & Cie. KG, among others.

Key Highlights of the Report