Research Report on Southeast Asia Washing Machine Industry 2023-2032

Research Report on Southeast Asia Washing Machine Industry 2023-2032

With the economic development in Southeast Asia, the disposable income of residents has increased and the consumption level has improved, the penetration rate of washing machines has gradually increased, and consumers' demand for washing machines has gradually changed from being a single cleaning tool to having diversified functions. According to CRI's analysis, the overall penetration rate of washing machines in Southeast Asia is low and there is huge room for development.

Southeast Asia has cheap labor, lower land costs and favorable policy subsidies, attracting global washing machine manufacturers to invest in factories in Southeast Asia. In 2019, the AQUA drum washing machine manufacturing plant in Dong Nai Province, Vietnam, went into operation with an annual capacity of about 500,000 drum washing machines. Most of Samsung's washing machine products are produced in Thailand and Vietnam, and LG also produces nearly 80% of its washing machines in Thailand and Vietnam.

Southeast Asia in this report includes 10 countries: Singapore, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Myanmar, Brunei, Laos and Cambodia. With a total population of over 600 million by the end of 2021, Southeast Asia has an overall economic growth rate higher than the global average and is one of the key drivers of future global economic growth.

According to CRI's analysis, the economic levels of the 10 Southeast Asian countries vary greatly, with Singapore being the only developed country with a per capita GDP of about US$73,000 in 2021. While Myanmar and Cambodia will have a GDP per capita of less than US$2,000 in 2021. The population and minimum wage levels of each country also vary greatly. Brunei, which has the smallest population, will have a total population of less than 500,000 people in 2021, while Indonesia, which has the largest population, will have a population of about 275 million people in 2021.

CRI expects that the washing machine industry in Southeast Asia will maintain growth from 2023-2032. On the one hand, the economic development of Southeast Asia, the gradually increasing penetration of washing machines and the potential of the local market. On the other hand, the global washing machine manufacturers will shift their production capacity to Southeast Asia and export to the global market, further promoting the development of the washing machine industry in Southeast Asia.

Topics covered:

• Southeast Asia Washing Machine Industry Status and Major Sources in 2018-2022 
• What is the Impact of COVID-19 on Southeast Asia Washing Machine Industry?
• Which Companies are the Major Players in Southeast Asia Washing Machine Industry Market and What are their Competitive Benchmarks?
• Key Drivers and Market Opportunities in Southeast Asia Washing Machine Industry
• What are the Key Drivers, Challenges, and Opportunities for Southeast Asia Washing Machine Industry during 2023-2032?
• What is the Expected Revenue of Southeast Asia Washing Machine Industry during 2023-2032?
• What are the Strategies Adopted by the Key Players in the Market to Increase Their Market Share in the Industry?
• What are the Competitive Advantages of the Major Players in Southeast Asia Washing Machine Industry Market?
• Which Segment of Southeast Asia Washing Machine Industry is Expected to Dominate the Market in 2032?
• What are the Major Adverse Factors Facing Southeast Asia Washing Machine Industry?