Residential Washing Machine Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Consumer Goods Report Format : PDF Report Code: ZMR-5613 Status : Upcoming

Description

Global Residential Washing Machine Market: Overview

One of the major investments in the lifestyle and home is the washing machine. It has a huge impact on the routine of laundry making this task much faster and simpler. The combination of the best innovative designs and several efficient cycles within a washing machine enables the conservation of energy, clean dirty clothes, and lowers the wastage of water. The drum spins at a very high speed creating a centrifugal force and drains out the water from the clothes thereby allowing the user to have dry clothes after the complete cycle of washing.

Global Residential Washing Machine Market: Growth Factors

Urbanization growing at a rapid pace, rise in disposable income, and an increase in affordability of residential washing machines are the key features that are augmenting the growth of the global residential washing machine market. Additionally, as per the report by the Bureau of Labor Statistics, in 2020, approximately 50.04 percent of the American jobs are held by women. There is a rise in the women workforce in every sector including retail, healthcare, education, and many more. This has ultimately increased the control of spending on household appliances as well. Hence, the rise in the number of women in the workforce and their busy lifestyle have led to the increase in the demand for a residential washing machine as they are convenient for use and save time & energy and thus are contributing to the growth of the global market. Moreover, merger & acquisition strategies of the major players to expand their business and a growing number of online electronic stores which enables the user to find & compare a variety of residential washing machines as per their function types, washing systems, and capacities are also the major factors that are driving the growth of the market. Furthermore, the incorporation of smart technologies such as bubble & drive technology as well as a rise in the use of performance indicators may create ample opportunities for the growth of the global residential washing machine market during the forecast period. However, the growing number of laundry shops as well as online laundry services may restrain the growth of the global residential washing machine market.

The Covid-19 pandemic has resulted in the global economic crisis as most of the industries are at standstill. The strict lockdown and restriction on transportation have enforced most of the manufacturing units of the industries to temporarily stop their operations. The disruption in the supply chain has led to a scarcity of the raw materials required for the manufacture of washing machines. The pandemic has also disrupted the distribution chain due to which no new products have entered the market. Moreover, the outbreak of Covid-19 has changed consumer behavior. Most of the people have lost their jobs owing to company layoffs and this has made the user spend only on essential goods such as groceries and other household things. Owing to all these factors, there is a considerable decline in the demand for residential washing machines thus holding back the growth of the global residential washing machine market.

Global Residential Washing Machine Market: Segmentation

The global residential washing machine market is divided into technology, capacity, product, distribution channel, and region. Based on the technology, the global residential washing machine market is categorized into the top load and front load. Based on the capacity, the global market is split into 8 kg & above, between 6 & 8 kg, and below 6 kg. The product segment is bifurcated into semi-automatic, fully automatic, and dryers. The distribution channel segment is classified into online, multi-brand stores, and others.

Global Residential Washing Machine Market: Regional Analysis

The global residential washing machine market in Asia Pacific region is anticipated to dominate the market in terms of revenue during the forecast period. Factors such as an increase in disposable income, a busy lifestyle, and growing demand for residential washing machines due to the rise in the standard of living in countries like China and India are contributing to the growth of the market in this region. On other hand, the global market in North America and Europe is estimated to grow at a healthy rate owing to an increase in per capita income and new product launches with smart features by the key players.

Global Residential Washing Machine Market: Competitive Players

Some of the major players operating in the global residential washing machine market include LG Electronics Inc., GE Appliances, Samsung Group, Haier Group Corporation, Miele and Cie. KG, AB Electrolux, Panasonic Corporation, Robert Bosch GmbH, Siemens AG, and Panasonic Corporation.

Global Residential Washing Machine Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

Table Of Content


Frequently Asked Questions

Urbanization growing at a rapid pace, rise in disposable income, and an increase in affordability of residential washing machines are the key features that are augmenting the growth of the global residential washing machine market. Furthermore, the incorporation of smart technologies such as bubble & drive technology as well as a rise in the use of performance indicators may create ample opportunities for the growth of the global residential washing machine market during the forecast period.

Some of the major players operating in the global residential washing machine market include LG Electronics Inc., GE Appliances, Samsung Group, Haier Group Corporation, Miele and Cie. KG, AB Electrolux, Panasonic Corporation, Robert Bosch GmbH, Siemens AG, and Panasonic Corporation.

The global residential washing machine market in Asia Pacific region is anticipated to dominate the market in terms of revenue during the forecast period. Factors such as an increase in disposable income, a busy lifestyle, and growing demand for residential washing machines due to the rise in the standard of living in countries like China and India are contributing to the growth of the market in this region.

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