The India Washing Machine Market reached USD 1267 million in 2019 and projected to grow at CAGR of 3.67 % to reach USD 1698 million by 2026. Increased demands for differentiated products and services have commenced to an upsurge in investments for R&D activities. Ongoing advancements, such as crowdsourced supply, coin laundry, and on-demand services, are drawing investors toward the laundry industries seeking minimal on-site management responsibilities.
Further, the commercial laundry space is becoming more automated with the introduction of Internet-enabled features in the washing machines.
The increased number of dual-income households coupled with insufficient time for laundry has led to the growing desire for laundromats. Moreover, energy labels and energy efficiency policies have enabled manufacturers to focus on the development of energy-efficient products. The growth in the hospitality sector in the region and the arrival of on-demand services are expected to drive the commercial washing machine growth.
While Washing Machine prices are rising in India, companies are offering different types of schemes such as EMI and seasonal discounts that lure the country's middle class population.
The commercial washing machine market is distinguished by the presence of key players who provide conventional washing and laundry services. The growth in online laundry services is anticipated to have a positive impact on the commercial washing machine market. However, the startups in this industry are trying to fill in the gap by providing comprehensive solutions at a reasonable price.
Rising population will drive the Indian Washing Machine Market during the forecast period
India is a second largest country in world and is one of the fastest growing country in the world in term of population. Large number of people use Washing Machines to clean their clothes efficiently. Washing machines helps to save time, which can be utilized for other purposes, due to these reasons washing machine market is expected to drive the market in the forecast period.
Growth in purchasing capacity will propel the growth of the Indian Washing Machine market during the forecast period
The rising demand for washing machines by the middle class will rise, with the desire and need to quickly clean clothes and save time. As the middle class numbers increasing, so will the buying power rise. At present, the middle class accounts for 19% of the entire population in India. The figure would likely reach a high percentage in the coming years. These factors should make the Indian Washing Machine market expand.
Fully Automatic Washing machine segment is expected to grow at a significant rate
Fully automatic washing machines is expected to grow due to ease of use and the need for less human intervention in the process of the washing. Moreover, the market is projected to foresee significant growth over the next few years due to the product's ability to deliver high energy performance and improved stain cleaning compared to semi-automatic machine. Manufacturers are focusing on new product development, advancement in technologies and increasing their manufacturing facilities to account for the substantial increase in demand.
6-8 Kg washing machine is expected to grow at a lucrative pace during the forecast period
As 6-8 kg washing machine is the most favored household load power. Major manufacturers including in the market are introducing a wide range of washing machines to achieve competitive edge in the industry in the 6 kg to 8 kg power category. Such new product releases are projected to fuel demand further over the predicted time period.
Northern India regional segment expected to witness lucrative growth in India Washing Machine Market
The Northern India is expected to grow at a very high CAGR over the forecast period. With increase in disposable income and growing population in the region the washing machine market is expected to grow in the region.
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Further, the commercial laundry space is becoming more automated with the introduction of Internet-enabled features in the washing machines.
The increased number of dual-income households coupled with insufficient time for laundry has led to the growing desire for laundromats. Moreover, energy labels and energy efficiency policies have enabled manufacturers to focus on the development of energy-efficient products. The growth in the hospitality sector in the region and the arrival of on-demand services are expected to drive the commercial washing machine growth.
While Washing Machine prices are rising in India, companies are offering different types of schemes such as EMI and seasonal discounts that lure the country's middle class population.
The commercial washing machine market is distinguished by the presence of key players who provide conventional washing and laundry services. The growth in online laundry services is anticipated to have a positive impact on the commercial washing machine market. However, the startups in this industry are trying to fill in the gap by providing comprehensive solutions at a reasonable price.
Rising population will drive the Indian Washing Machine Market during the forecast period
India is a second largest country in world and is one of the fastest growing country in the world in term of population. Large number of people use Washing Machines to clean their clothes efficiently. Washing machines helps to save time, which can be utilized for other purposes, due to these reasons washing machine market is expected to drive the market in the forecast period.
Growth in purchasing capacity will propel the growth of the Indian Washing Machine market during the forecast period
The rising demand for washing machines by the middle class will rise, with the desire and need to quickly clean clothes and save time. As the middle class numbers increasing, so will the buying power rise. At present, the middle class accounts for 19% of the entire population in India. The figure would likely reach a high percentage in the coming years. These factors should make the Indian Washing Machine market expand.
Fully Automatic Washing machine segment is expected to grow at a significant rate
Fully automatic washing machines is expected to grow due to ease of use and the need for less human intervention in the process of the washing. Moreover, the market is projected to foresee significant growth over the next few years due to the product's ability to deliver high energy performance and improved stain cleaning compared to semi-automatic machine. Manufacturers are focusing on new product development, advancement in technologies and increasing their manufacturing facilities to account for the substantial increase in demand.
6-8 Kg washing machine is expected to grow at a lucrative pace during the forecast period
As 6-8 kg washing machine is the most favored household load power. Major manufacturers including in the market are introducing a wide range of washing machines to achieve competitive edge in the industry in the 6 kg to 8 kg power category. Such new product releases are projected to fuel demand further over the predicted time period.
Northern India regional segment expected to witness lucrative growth in India Washing Machine Market
The Northern India is expected to grow at a very high CAGR over the forecast period. With increase in disposable income and growing population in the region the washing machine market is expected to grow in the region.
This product will be delivered within 2 business days.
Table of Contents
1. Research Framework
2. Research Methodology
4. India Washing Machine Insights
5. India Washing Machine Market Overview
6. Company Profile (Company Overview, Financial Matrix, Product landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) *
Companies Mentioned
A selection of companies mentioned in this report includes:
- LG Electronics India Pvt. Ltd.
- Samsung India Electronics Ltd
- Whirlpool
- Godrej
- Electrolux
- IFB
- Lloyds
- Videocon
- Midea
- Intex
- MarQ by Flipkart
- Mitashi
- Bosch
- Sansui
- Onida
Methodology
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