Global Laundry Appliances Market Report and Forecast 2024-2032

Global Laundry Appliances Market Report and Forecast 2024-2032

Market Outlook

According to the report by Expert Market Research (EMR), the global laundry appliances market size reached a value of USD 62.5 billion in 2023. Aided by the rising demand for energy-efficient home appliances and the growing trend of smart homes, the market is projected to further grow at a CAGR of 8.10% between 2024 and 2032 to reach a value of USD 125.98 billion by 2032.

Laundry appliances, which include washing machines, dryers, and irons, have become essential household items globally. With advancements in technology, laundry appliances now offer features such as Wi-Fi connectivity, energy-saving modes, and customisable settings, making them highly convenient for modern consumers. These appliances play a crucial role in reducing manual effort and ensuring cleaner and more hygienic laundry outcomes, which has driven their widespread adoption.

The growing consumer preference for energy-efficient and eco-friendly appliances is a major factor driving the global laundry appliances market growth. Governments across various countries have introduced regulations and incentives to promote the use of energy-efficient products, which has encouraged manufacturers to develop appliances that meet these standards. As a result, the demand for energy-efficient washing machines and dryers has increased significantly, contributing to the overall growth of the market.

The increasing popularity of smart homes has also propelled the demand for connected laundry appliances. Consumers are increasingly seeking appliances that can be integrated into their smart home ecosystems, offering remote control features, automatic alerts, and energy consumption tracking. This trend has led to the development of innovative laundry appliances with smart features, further boosting the global laundry appliances market demand.

In addition, the rising disposable income of consumers, particularly in developing regions, is playing a crucial role in the expansion of the market. As urbanisation continues to grow, more households are investing in modern appliances to improve their quality of life. Moreover, the increasing number of dual-income households has amplified the demand for time-saving appliances, further driving the sales of washing machines and dryers.

The commercial segment is also witnessing growth, as the hospitality, healthcare, and laundry services industries expand. In these sectors, the need for heavy-duty and efficient laundry appliances is essential for maintaining hygiene standards and meeting large-scale laundry requirements. As a result, manufacturers are introducing robust commercial laundry appliances with higher load capacities and advanced features, catering to this growing demand. This is further bolstering the laundry appliances market value.

The market growth is further driven by technological advancements, such as the integration of artificial intelligence (AI) and machine learning (ML) into appliances. AI-powered washing machines can automatically detect fabric types and adjust washing cycles accordingly, improving efficiency and ensuring optimal care for clothes. These innovations are likely to continue driving the market revenue in the coming years.

In addition to technological advancements, the trend of product differentiation through design and aesthetics is gaining momentum. Consumers are now looking for laundry appliances that not only offer superior functionality but also complement the aesthetics of their homes. This has prompted manufacturers to introduce sleek and stylish designs, further attracting consumers and contributing to the laundry appliances market expansion.

Moreover, the global rise in e-commerce platforms has facilitated the growth of the market by providing consumers with easy access to a wide range of products. Online retail channels have made it convenient for consumers to compare different appliances, read reviews, and make informed purchasing decisions.

In conclusion, the market is poised for significant growth, driven by the increasing demand for energy-efficient and smart appliances, rising disposable incomes, and the expansion of commercial applications. With ongoing advancements in technology and design, the laundry appliances market is expected to sustain over the forecast period.

Market Segmentation

The market can be divided based on product, technology, distribution channel, and region.

Market Breakup by Product

• Washing Machine
• Dryers
• Electric Smoothing Irons
• Others

Market Breakup by Technology

• Automatic
• Semi-Automatic
• Others

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets
• Specialty Stores
• Online
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global laundry appliances market. Some of the major players explored in the report by Expert Market Research are as follows:

• Whirlpool Corporation
• Samsung Electronics
• LG Corporation
• Robert Bosch GmbH
• Electrolux AB
• Sharp Corporation
• Alliance Laundry Systems LLC
• Maytag Corporation
• Koninklijke Philips N.V.
• General Electric Company
• Others

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*We at Expert Market Research always strive to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.