The home appliance industry – which includes electrical or mechanical devices used in a household – is a multi-billion dollar industry, as the consumption of household appliances worldwide is forecast to generate nearly 590 billion U.S. dollars in revenues by 2020. Shipment of home appliances worldwide is projected to increase from 583 million units in 2013 to 700 million units by 2017. Leading companies of this industry include the Chinese Haier Electronics Group, the U.S.-based Whirlpool, the German Bosch and Siemens Group, the Swedish company Electrolux, and the South Korean multinational giant LG Electronics.