Germany Washing Machine - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

Germany Washing Machine - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029

The market has generated a revenue of more than USD 1 billion in the current year and is poised to achieve a CAGR of more than 5% for the forecast period.

During Covid home washing machines were among the categories negatively affected as financial uncertainty arising from COVID-19 led German households to postpone big-ticket purchases. To some extent, usage of these appliances actually went up as a direct result of the pandemic, with Germans who already tended to be quite hygiene-conscious seeking to reduce potential exposure to the virus by washing clothes more frequently, especially clothes worn outside the home. Covid-19 had made a impact on the market due to distrupted supply chain. Also due to the pandemic the consumers had spend more time at home, demanding for some major and small appliances such as washing machine did enjoy a temporary jump. The main reason for the jump was that the public had thought that they would be spending a lot more time indoors and this led to a surge in demand for home appliances including washing machines. Germany is a mass consumer society.

Germany washing machine market has seen a rapid growth in product innovation such as enegry efficent, and being eco-friendly machines. Customers in the market are demanding washing machines with smart teshnology such as Internet inside. The remodeling of home units has driven the market coupled with smart home integration features. The German market has become the most important in Europe and the third in the world, after the United States and China. The German population represents about one-fifth of the Europe overall and this is the reason why Germany has the largest market share of home appliance such as washing machines in Europe.

Germany Washing Machine Market Trends

E-commerce platform and Smart Washing Machines are Driving the Market

There is a great scope for an increase in online-based sales of smart home appliances. The growth of the e-commerce sector is expected to be supported by rising internet penetration and smartphone use. This increase in E-commerce can drive the electronics sales such as washing machine and other domestic appliances. The rising urbanization and modernization are further driving the growth of e-commerce.

In a fast-paced environment where apparel trends, consumer lifestyles, and sociodemographic dynamics are changing rapidly, connectivity will support manufacturers' goal of remaining relevant to consumers throughout the whole replacement cycle of the laundry appliance. Generating revenue, resource cost-saving, and productivity gain are some tangible benefits connected washing machines could offer and hence driving the market.

Commercial Washing Machine Market to Benefit from Growing Hospitality Industry in Germany

The growing hospitality industry will offer immense growth opportunities, the long replacement cycle will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Front-loading commercial washing machines are highly efficient and save electricity and water, compared to top-load machines. Such advantages help commercial operators save on their operational costs. These factors will drive the commercial washing machine market share growth by the front-loading segment significantly.

The growth of the hospitality industry will be one of the major factors that will drive commercial washing machine market growth. There is a high demand for commercial washing machines from the hospitality industry and it is increasingly used in hotels, resorts, and other establishments. With numerous popular hotel chains focusing on increasing their presence by setting up new hotels at multiple locations, the adoption of commercial washing machines will increase in the future.

Germany Washing Machine Industry Overview

Germany washing machine market is highly competitive, with the presence of major international players. The market studied presents opportunities for growth during the forecast period, which is expected to further drive the market competition. With multiple players holding significant shares, the market studied is competitive. Some of the key players in the market are Bosch, AEG, Miele, Siemens, and Bauknecht.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
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