Washing Machine Market:
The GMI Research forecasts that the washing machine market is witnessing an upsurge in demand during the forecast period starting from 2020 till 2027. This is mainly due to the growing adoption of smart electronic devices, rapid urbanization, and increase in the production of clothing products.
Top Manufacturers in the Washing Machine Market:
- Alliance Laundry Systems LLC
- AB Electrolux
- IFB Industries Ltd.
- LG Electronics
- Panasonic Corporation
- Robert Bosch GmbH
- Samsung Electronics Co. Ltd.
- Siemens AG
- Whirlpool Corporation
- Videocon Industries Limited
- Godrej Group
- White-Westinghouse International
Washing Machine Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
Some of the major factors surging the growth of the global washing machine market include the growing adoption of smart electronic devices, rapid urbanization, and an increase in the production of clothing products. Moreover, growing per capita spending of household on electronic equipment, increasing adoption of corporate work culture, continuously changing consumer lifestyle, along with the rising preference for convenience, will propel the demand for the market in the upcoming years. Additionally, the strong demand for commercial laundry equipment and digital laundry payment systems is fuelling the market growth across the globe. On the other edge of the spectrum, the factors that are hindering the market growth include variations in the prices of raw materials and high consumption of electricity by washing machines. In addition to this, the growing use of IoT technology in these devices, technological advancement, and the implementation of next-generation washing machines that enable efficient use of electricity and water are projected to bring various growth opportunities for the market in the upcoming years.
Regional Drivers
Based on the region, the Asia-Pacific region is expected to dominate the market during the forecast period owing to the rising per capita income of the population, increasing economic conditions including India, Japan, China, and South Korea, and strong demand for home appliances in the region. On the other hand, North America is anticipated to grow at a higher CAGR during the forecast period due to the rising trend of the laundromat and a common laundry room in the region. Additionally, the growing number of smart homes, enhanced standard of living, rapid economic development, are the factors energizing the growth of the washing machine industry in the region.
Washing Machine Market Segmentation:
Segmentation by Product:
- Fully Automatic
- Front Load
- Top Load
- Semi-Automatic
- Dryers
Segmentation by Technology:
- Smart Connected Machines
- Conventional Machines
Segmentation by Capacity:
- Below 6 Kg
- Above 6 Kg
Segmentation by End-Use:
- Commercial
- Residential
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
About GMI Research
GMI Research is a leading market research company that offers market research reports for every industry. Our research teams have seasoned analysts and researchers and are always looking for industry-leading research techniques to create all-encompassing research reports. GMI Research’s extensive global network allows it to collect relevant information about the industry on a regional as well as country-level basis. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of sectors. We provide step-by-step assistance to our clients through strategic and consulting services to reach a managerial and actionable decision. Our market research report offers in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, major factors impacting the market growth, and various market insights to aid companies to make strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.
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