Washing Machine Market
The Washing Machine Market is estimated to expand at a robust CGAR during the forecast period (2020-2027).
The factors driving the growth of Washing Machine Market includes increasing concerns related to global warming and climate change, rising demand for smart home appliances and growing popularity of card-based laundry payment systems. According to the report published by Bloomberg, the Global Smart Home Appliances Market is estimated to reach USD 139 Billion by the end of 2030, growing at a CAGR of 16.6% over the forecast period (2021-2030), which is expected to boost the Global Washing Machine Market in the approaching years. Moreover, integration of Artificial Intelligence (AI) and Internet of Things (IoT) technologies with washing machines, increasing investments by leading players on research and development and Government initiatives to boost the manufacturing of electronic items, are some of the additional factors supplementing the Washing Machine Market share. In addition, the increasing sales of luxurious household items, growth in the number of smartphone users and ease in the availability of laundry services available on internet, are further propelling the Washing Machine Market size.
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The major players operating in the market are Samsung Electronics Co. Ltd., Siemens AG, Whirlpool Corporation, Alliance Laundry Systems LLC, LG Electronics, AB Electrolux, IFB Industries Ltd., Videocon Industries Limited, White-Westinghouse International, Panasonic Corporation, Robert Bosch GmbH and Godrej Group, among others.
Product: Segment Analysis
Based on Product, the Fully Automatic segment is estimated to grow at a significant CAGR over the forecast period because these machines are more water efficient, provides effective cleaning and requires less energy to operate.
Technology: Segment Analysis
Based on Technology, the Smart Connected Machines segment is projected to expand at a remarkable CAGR during the forecast period. The growing popularity of smart washing machines because the wash cycles can be monitored and scheduled through smartphones, is the major factor responsible for the growth of the segment.
Capacity: Segment Analysis
As per the Washing Machine Market Analysis, the Above 6 Kg segment is predicted to grow at a steady CAGR over the forecast period attributed to its increasing demand at Hotels, Hospital and Laundry service centers.
Regional: Segment Analysis
Based on Region, the Asia-Pacific region is expected to capture the largest market share during the forecast period. The growing demand for smart washing machines, rise in the number of laundry service providers, improvements in the living standards and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific.
Market Segmentation
Global Washing Machine Market by Product
- Fully Automatic
- Front Load
- Top Load
- Semi-Automatic
- Dryers
Global Washing Machine Market by Technology
- Smart Connected Machines
- Conventional Machines
Global Washing Machine Market by Capacity
- Below 6 Kg
- Above 6 Kg
Global Washing Machine Market by End-Use
- Commercial
- Residential
Global Washing Machine Market by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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