Washing Machine Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

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Washing Machine Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025

Status : August, 2020 | Semiconductor & Electronics | PPT format

Report Digest


Washing Machine Market: Snapshot

The growing demand for products which bring convenience to consumers is a key factor fueling the demand for washing machines. The growing changes in lifestyles, increasing disposable income, and the availability of advanced technology are also boosting the growth of the global washing machines market. One of the trends seen in the washing machine market in recent times is the use of technology that reduces the use of water for washing. The growing scarcity of water worldwide and the realization that water is a limited natural resource have compelled manufacturers to devise a technology that minimizes the use of water. In addition to this, smart washing machines have also gained traction in recent times on account of the increasing penetration of IoT and smartphones. The convenience offered by smart washing machines such as ability to operate remotely, control functions of the washing machine by using smartphones, and receive notifications is expected to increase the popularity of these machines in the future.

The washing machines with higher capacity load are witnessing more demand in the last few years. In addition to this, consumers are increasingly transiting from semi-automatic washing machines to fully automatic washing machines. Technological advancements will continue to drive the growth of this market. Increasing replacements made from conventional washing machines to advanced and latest machines will ensure a growth of the market in developed nations. The increasing population and improvement in economy will drive the growth of this market in the developing nations.

Global Washing Machine Market: Overview

The world washing machine market is prognosticated to rake in ample amount of demand from the residential sector as consumers find a heated inclination toward smart and connected products. Vendors in the market are taking to products which can be managed and controlled with a few touches on the consumer’s smartphone. Commercial dryers could gain traction as manufacturers introduce heat pump technology in the wake of energy consumption rising to an alarming level. Moreover, government initiatives to support controlled energy consumption, digitalization, and a large demand in developing economies are expected to add to the growth of the market.

The segmentation part of the report presented here could include an expert analysis on the basis of important classification groups such as capacity, technology, product, application, and end use. Commercial laundry equipment are envisaged to appeal to government, hospital, and hospitality sectors with outsourcing deemed as a powerful trend of growth.

The publication compiled on the global washing machine market sheds light on the critical factors of growth, market opportunities, restraints, market value chain, and more aspects to help analyze the industry at a professional level. Report buyers can access a customized evaluation of the global market to take confident strides toward a realistic growth.

Global Washing Machine Market: Trends and Opportunities

As a result of the advent of innovative solutions in the laundry sector, the commercial washing machine market is expected to accept a transition. This could push the need for increased automation in laundry services, which is foreseen to prepare a fine ground for the global washing machine market to build on a robust growth. One of the notable revolutions in the laundry sector is the shift from coin laundries to card-based or digital laundry payment services. As a favorable consequence, the demand for smart connected washing machines is foretold to intensify even more with swiftly changing lifestyle of consumers and mushrooming preference for convenience.

For the forecast period, the international washing machine market could invite an optimistic impact as newer technologies take precedence to address the demand for water and power efficient, next generation products. In order to control the consumption of energy, governments especially in North America are asking consumers to prefer energy-efficient appliances with smart grids. This is foreseen to aggravate the manufacturing efforts to develop technologically sophisticated products.

Global Washing Machine Market: Regional Outlook

The regional demand in the international washing machine market is predicted to augment with the rising preference for smart connected and fully automatic products in the developing countries of Vietnam, India, and Indonesia. The demand is anticipated to swell further as the populations in these countries falling under the middle-income bracket see a rise. The washing machine market in China could experience a high level of penetration of different types of products, thus allowing the market to increase its growth. In 2015, Asia Pacific took hold of a whopping share in the global washing machine market.

North America is forecasted to not fall behind by much distance from Asia Pacific, owing to the rising want for smart washing machine to replace their traditional counterparts. In the U.S., the demand has grown dramatically with the elevating awareness of products bearing the ENERGY STAR certification.

Global Washing Machine Market: Companies Mentioned

Most manufacturers in the world washing machine market are counting on the formulation of holistic distribution mediums with a view to widen their clientele base. Some of the interesting strategies adopted by the top vendors in the global market are substantial focus on supply chain management through vital investments and improvement of product assortments. Among others, Electrolux AB, LG Electronics Inc., Samsung Electronics Co. Ltd., and Whirlpool Corporation are deemed to be the leading players in the market.

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

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

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.