Residential Washing Machine Market By Product Type (Fully Automatic, Semiautomatic, Dryer), By Machine Capacity (Below 6 Kg, Between 6-8 Kg, 8 Kg And Above), By Distribution Channel (Supermarket And Hypermarket, Specialty Store, Department Store, E-Commerce, Others), : Global Opportunity Analysis and Industry Forecast, 2020-2031
The global residential washing machine market was valued at $37.4 billion in 2020, and is projected to reach at $73.0 billion by 2031, growing at a CAGR of 8.3% from 2022 to 2031.
Residential washing machine is a household appliance used to wash laundry. The components of a washing machine include a motor connected to the barrel through a transmission belt that contains the agitator. The spinning of the agitator creates centrifugal force, which helps in the removal of water from the laundry along with dirt. A washing machine is an essential household appliance, as it provides an easy and convenient laundering option. Increase in government initiatives toward rural household development in many developing countries in Asia-Pacific is expected to increase the demand for residential washing machines.
The major factors that drive the global residential washing machine industry include increase in number of working women, thereby contributing to higher disposable income coupled with insufficient time for laundry, and rapid urbanization. In addition, decrease in selling price of the residential washing machine is expected to fuel its demand. However, laundry shops that provide better laundry service compared to washing machine and increase in online laundry services limit the market growth. Technological progress in washing machine technology and innovation has led to better washing machine that saves energy and water consumption, thereby presenting a major opportunity for growth of the global residential washing machine market size.
However, laundry and dry-cleaning services are preferred to eliminate labor-intensive hand washing. Thus, washing machines of high capacity are developed to cater to the growing demands for laundry. Moreover, steam pressing is one of the latest trends in washing machines to make the clothes wrinkle free. Furthermore, the demand of mechanical laundry and dry cleaning is increasing in tune with population growth in towns and cities. In addition, insufficient time for household activities such as washing, owing to increase in female working population has fueled the demand for laundry services. Thus, availability of laundry shops hampers the growth of the washing machine market.
The global residential washing machine market is segmented on the basis of product, machine capacity, distribution channel and region. Based on product, the market is divided into fully automatic, semi-automatic, and dryer. The machine capacity segment includes below 6 kg, between 6 and 8 kg, and 8 kg & above. On the basis of distribution channel, the market is classified into supermarket/hypermarket, specialty stores, department stores, e-commerce and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Major players analyzed in this report are Samsung Group (South Korea), LG Electronics Inc. (South Korea), Siemens AG (Germany), Haier Group Corporation (China), AB Electrolux (Sweden), Whirlpool Corporation (U.S.), Robert Bosch GmbH (Germany), Miele and Cie. KG (Germany), Panasonic Corporation (Japan), and GE Appliances (U.S.).
KEY BENEFITS FOR STAKEHOLDERS
The study provides an in-depth analysis of the residential washing machine market, with current trends and future estimations to elucidate the investment pockets.
Comprehensive analysis of factors that drive and restrict the market growth is provided.
The report provides a quantitative analysis to help the stakeholders to capitalize on prevailing market opportunities.
Extensive analysis of different segments facilitates to understand various products of the market.
Key players are profiled and their strategies are analyzed thoroughly to predict the competitive outlook of the market.
Key Market Segments
By Product Type
Fully Automatic
Semiautomatic
Dryer
By Machine Capacity
Below 6 Kg
Between 6-8 Kg
8 Kg And Above
By Distribution Channel
Supermarket And Hypermarket
Specialty Store
Department Store
E-Commerce
Others
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Italy
Spain
Russia
Rest of Europe
Asia-Pacific
India
South Korea
Indonesia
Thailand
Australia
Rest of Asia-Pacific
China
Japan
LAMEA
Latin America
Middle East
Africa
Key Market Players
HAIER GROUP CORPORATION
LG ELECTRONICS INC
SIEMENS AG
WHIRLPOOL CORPORATION
ROBERT BOSCH GMBH
SAMSUNG GROUP
AB ELECTROLUX
MIELE AND CIE. KG
PANASONIC CORPORATION
TOSHIBA CORPORATION
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