The global residential washing machine market size reached US$ 41.7 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 54.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.32% during 2023-2028.
Washing machines are home appliances widely used to wash the laundry with detergent. They comprise semi-automatic and fully automatic machines that assist in washing, rinsing, and drying without the need to supervise different operations. They save time and are easier to clean, operate, and repair compared to other electrical devices. Presently, they are available in multiple sizes and styles depending on the budget, lifestyle, and the size of the user’s house.
2. What is the expected growth rate of the global residential washing machine market during 2023-2028?
3. What are the key factors driving the global residential washing machine market?
4. What has been the impact of COVID-19 on the global residential washing machine market?
5. What is the breakup of the global residential washing machine market based on the product?
6. What is the breakup of the global residential washing machine market based on the technology?
7. What is the breakup of the global residential washing machine market based on the machine capacity?
8. What is the breakup of the global residential washing machine market based on the distribution channel?
9. What are the key regions in the global residential washing machine market?
10. Who are the key players/companies in the global residential washing machine market?
Washing machines are home appliances widely used to wash the laundry with detergent. They comprise semi-automatic and fully automatic machines that assist in washing, rinsing, and drying without the need to supervise different operations. They save time and are easier to clean, operate, and repair compared to other electrical devices. Presently, they are available in multiple sizes and styles depending on the budget, lifestyle, and the size of the user’s house.
Residential Washing Machine Market Trends:
At present, the growing affordability of washing machines, along with the inflating income levels of individuals around the world, represents one of the key factors driving the market. Moreover, there is an increase in the demand for residential washing machines due to continuous improvements in rural electrification. This, coupled with various initiatives undertaken by the government of several countries to develop rural households, is contributing to the growth of the market. In addition, various benefits offered by residential washing machines, such as enhanced comfort level and convenience, are propelling the growth of the market. Besides this, key market players are extensively investing in research and development (R&D) activities to integrate technological advancements in washing machines and introduce product variants that are highly efficient in saving water and electricity. This is strengthening the growth of the market. Apart from this, the escalating demand for residential washing machines among the masses due to hectic lifestyles and less time for laundry is bolstering the growth of the market. Additionally, the wide availability of residential washing machines through online and offline distribution channels, in confluence with the burgeoning e-commerce sector, is offering lucrative growth opportunities to industry investors.Key Market Segmentation
The report provides an analysis of the key trends in each sub-segment of the global residential washing machine market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, technology, machine capacity and distribution channel.Breakup by Product:
- Fully Automatic
- Semiautomatic
- Dryer
Breakup by Technology:
- Top Load
- Front Load
Breakup by Machine Capacity:
- Below 6 Kg
- 6 to 8 Kg
- 8 Kg and Above
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Specialty Stores
- Department Stores
- E-Commerce
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being Electrolux AB, Godrej Consumer Products Ltd., Haier Group Corporation, Hitachi Ltd., IFB Industries Limited, LG Electronics Inc., Midea Group, Miele, Panasonic Holdings Corporation, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Toshiba Corporation and Whirlpool Corporation.Key Questions Answered in This Report
1. What was the size of the global residential washing machine market in 2022?2. What is the expected growth rate of the global residential washing machine market during 2023-2028?
3. What are the key factors driving the global residential washing machine market?
4. What has been the impact of COVID-19 on the global residential washing machine market?
5. What is the breakup of the global residential washing machine market based on the product?
6. What is the breakup of the global residential washing machine market based on the technology?
7. What is the breakup of the global residential washing machine market based on the machine capacity?
8. What is the breakup of the global residential washing machine market based on the distribution channel?
9. What are the key regions in the global residential washing machine market?
10. Who are the key players/companies in the global residential washing machine market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Residential Washing Machine Market
6 Market Breakup by Product
7 Market Breakup by Technology
8 Market Breakup by Machine Capacity
9 Market Breakup by Distribution Channel
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Electrolux AB
- Godrej Consumer Products Ltd.
- Haier Group Corporation
- Hitachi Ltd.
- IFB Industries Limited
- LG Electronics Inc.
- Midea Group
- Miele
- Panasonic Holdings Corporation
- Robert Bosch GmbH
- Samsung Electronics Co. Ltd.
- Toshiba Corporation
- Whirlpool Corporation
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 142 |
| Published | October 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 41.7 Billion |
| Forecasted Market Value ( USD | $ 54.2 Billion |
| Compound Annual Growth Rate | 4.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
