Jan 13, 2023   SOURCE: BusinessWire

$65.7 Billion Worldwide Washing Machine Industry to 2027 - Featuring Godrej, Haier Group, IFB Industries and LG Electronics Among Others - ResearchAndMarkets.com

The "Washing Machine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.

The global washing machine market size reached US$ 49.4 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 65.7 Billion by 2027, exhibiting a CAGR of 4.87% during 2021-2027.

Companies Mentioned

  • AB Electrolux
  • Alliance Laundry Systems LLC
  • Godrej Group
  • Haier Group Corporation
  • IFB Industries Limited
  • LG Electronics Inc.
  • MIRC Electronics Limited
  • Panasonic Corporation
  • Robert Bosch GmbH
  • Samsung Electronics Co. Ltd.
  • Toshiba Corporation
  • Whirlpool Corporation

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on on different end use sectors. These insights are included in the report as a major market contributor.

A washing machine is an electronic appliance used for laundry of clothes and fabrics. It operates by spinning the fabrics at high speed and generating centrifugal force to remove dirt with water from the fibers. It is commonly available in fully automatic, semi-automatic and top- and front-load variants.

The fully automatic machines have pre-programmed functions and can wash, dry and rinse the clothes automatically. The semi-automatic variants usually have a twin-tub system for washing and drying the fabrics separately. The components of the washing machine, such as tub, tub guards, balance rings and pumps, are manufactured using sheet steel and plastic with zinc or porcelain coatings for corrosion resistance and longer operational life.

The global washing machine market is primarily being driven by the widespread adoption of online laundry services among the masses. With the changing lifestyle patterns and increasingly hectic schedules of the working population, there is a shifting consumer preference towards on-demand laundry and dry-cleaning services that offer doorstep pick-up and delivery facilities for enhanced convenience for the consumer.

Moreover, the widespread adoption of fully automatic washing machines across both residential and commercial sectors is providing a thrust to the market growth. These machines aid in reducing the manual labor and are highly convenient to use and space-saving.

Additionally, various technological advancements, such as the integration of smartphone applications with the Internet of Things (IoT) and artificial intelligence (AI) solutions for real-time alerts and remote access of the machine, are acting as other growth-inducing factors. Product manufacturers are also developing energy-efficient variants with minimal carbon footprint and maintenance requirements.

Other factors, including significant growth in the fashion and apparel industries, especially in the developing economies, along with the increasing expenditure capacities of the consumers, are anticipated to drive the market toward growth.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global washing machine market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product, technology, capacity, application and end use.

Breakup by Product:

  • Fully Automatic
  • Front Load
  • Top Load
  • Semi-Automatic
  • Dryers

Breakup by Technology:

  • Smart Connected
  • Conventional

Breakup by Capacity:

  • Below 6 kg
  • 6.1 to 8 kg
  • Above 8 kg

Breakup by Application:

  • Healthcare
  • Hospitality
  • Others

Breakup by End Use:

  • Commercial
  • Residential

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Key Questions Answered in This Report:

  • How has the global washing machine market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global washing machine market?
  • What are the key regional markets?
  • What is the breakup of the market based on the product?
  • What is the breakup of the market based on the technology?
  • What is the breakup of the market based on the capacity?
  • What is the breakup of the market based on the application?
  • What is the breakup of the market based on the end use?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global washing machine market and who are the key players?
  • What is the degree of competition in the industry?

For more information about this report visit https://www.researchandmarkets.com/r/pavzgw

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