Global Washing Machine Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Washing Machine Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Washing machine refers to a machine that is driven by electricity and used to wash clothes, towels and other textiles. The report studies the global washing machine market.

Market Overview:

The latest research study on the global Washing Machine market finds that the global Washing Machine market reached a value of USD 48486.69 million in 2022. It’s expected that the market will achieve USD 61103.77 million by 2028, exhibiting a CAGR of 3.93% during the forecast period.

Drivers

The increase in the number of houses and consumption level will jointly promote the development of the industry

The development of the real estate industry has led to a rapid increase in the number of houses, and residents' consumption of Washing Machines has increased. At the same time, with the increase in income, the consumption level and quality of residents continue to improve, entering the stage of consumption upgrade. With the upgrading of consumption, residents' demand to improve the quality of life has further increased, and the acceptance of washing machine facilities has continued to increase, which has led to the development of the Washing Machine industry.

In addition, residents' clothing consumption continues to increase, and the demand for clothing washing and maintenance is rising. As an important equipment for laundry washing and maintenance, Washing Machine continues to increase market demand. These factors are expected to promote the further development of the Washing Machine industry.

Growing awareness for hygienic and efficient cleaning systems

The general increase in health and hygiene awareness has changed people's perceptions of comfort and health. In the context of increasing middle-class floating population and increasing consumption, the improvement of people's awareness of hygiene, efficiency, and cleaning provides opportunities for the development of the Washing Machine market. Especially under the influence of the new crown pneumonia epidemic, people's requirements for hygiene and cleanliness have further increased. People are paying more and more attention to house hygiene, and they hope to eliminate some bacteria through effective cleaning. Therefore, people will increase the frequency of changing and washing large textiles such as bed sheets, curtains, and sofa covers. It is expected that these factors will also promote the further development of the Washing Machine industry.

Growth in the Hotel sector

With the continuous economic development, tourism has become one of the key industries in many countries. The strong accommodation service and tourist accommodation market have promoted the development of the hotel industry. This has greatly promoted the use of more Washing Machines. As far as the hotel industry is concerned, the demand for washing machines is huge. Bedding, bath towels and sheets must be kept clean at all times. For hotels, clean towels and sheets will affect the satisfaction and overall experience of hotel guests. Dyed or poor-quality bed sheets will greatly increase the risk of losing repeat customers, thereby reducing the possibility of customers making reservations in the hotel in the future. However, in view of rising labor costs, the cost of maintaining in-house laundry services is very high. Therefore, the hotel has increased the expenditure on cleaning and housekeeping services, and the efficient and durable Washing Machine has been welcomed by the hotel. In addition, the hotel may provide laundry services. With the development of the hotel industry and the increase of hotel tourists, the demand for Washing Machine is also increasing.

Region Overview:

China had the highest growth rate of all regions.

Company Overview:

Haier is one of the major players operating in the Washing Machine market, holding a share of 16.39% in 2021.

Haier Group Corporation is a Chinese multinational home appliances and consumer electronics company. It designs, develops, manufactures and sells products including refrigerators, air conditioners, washing machines, microwave ovens, mobile phones, computers, and televisions.

Midea Group Co., Ltd. manufactures, markets and installs household electrical appliances, compressors and components. Midea also provides services in information technology, corporate investment consultation, software and hardware development, property management and corporate engineering supports.

Segmentation Overview:

By type, Front-load segment accounted for the largest share of market in 2021.

Application Overview:

By application, the 5-7 Kg segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Washing Machine market covered in Chapter 3:

Haier
LG
BEKO
Electrolux AB
Hisense
Panasonic
Midea Group
Whirlpool
Hitachi
Bosch
Samsung

In Chapter 4 and Chapter 14.2, on the basis of types, the Washing Machine market from 2018 to 2029 is primarily split into:

Top load
Front-load

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Washing Machine market from 2018 to 2029 covers:

Below 5 Kg
5-7 Kg
7-9 Kg
Above 9 Kg

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)