China Washing Machine Market Size
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 17.28 Billion |
| Market Size (2029) | USD 20.39 Billion |
| CAGR (2024 - 2029) | > 3.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Washing Machine Market Analysis
The China Washing Machine Market size in terms of Greater Than-3.5 is expected to grow from USD 17.28 billion in 2024 to USD 20.39 billion by 2029, at a CAGR of greater than 3.5% during the forecast period (2024-2029).
China is the world’s largest washing machine market in terms of production, consumption, sales, and exports. In China, the washing machine has become one of the most important household equipment, and its commercial use in the hospitality industry, such as hotels, resorts, and other institutions for huge loads of commercial laundry, is also booming. The growth of the washing machine market in China is believed to be mainly driven by rapid urbanization and a rise in disposable income, as well as improvements in rural electrification. The subsidy program launched to promote the sale of large appliances in rural areas of China has created significant growth towards the penetration of large appliances. This has also supported the growth in replacement potential for home appliances in China.
China's demand for washing machines initially declined in 2020 due to the COVID-19 pandemic; however, due to the Chinese government's improved prevention and control measures, the need for washing machines is now re-emerging. This surge in demand can be seen across the entire China laundry appliances market. In addition, offline channel sales have seen a decrease in the last few years, while online sales of washing machines in China have seen positive growth. As previously mentioned, this development can be attributed to the improved quality of life of Chinese consumers, which has led to an increase in their demand for washing and care equipment.
China Washing Machine Market Trends
Increasing Disposable Income is Driving the Market
With the continuity of rapid urbanization, the rising household disposable income, and changing consumer preferences towards household electrical appliances in the country, the washing machine market in China is expected to flourish further, and the major washing machine brands in China are also expected to achieve greater sales over the near future. The growing population in urban areas and disposable income that has made these appliances affordable; factors are expected to drive the market growth. The rise in per capita income in the country, which has increased disposable income, has led to an increase in consumer spending, which acts as a major driving force. Appliances like these are making life easier for customers, hence increasing the demand for these products.
China’s Washing Machine Exports are Driving the Market
China is not only the world's largest washer manufacturer but also the world's largest washer exporter. China's society and economy have been altered by rapid advances in manufacturing capacity and expanding consumer consumption. Since the Chinese government has encouraged industry consolidation to control the industry and improve competitiveness in the global market, rapid consolidation between medium and big businesses is expected. Customers' willingness to pay a premium for high-quality goods will encourage local players to focus on manufacturing high-quality goods that can be sold at higher prices, resulting in larger operating margins. Many leading international washing machine manufacturers, such as LG, Samsung, and Panasonic, have also established their plants or manufacturing operations through their local partners in China. Some of the major importers of Chinese-made washing machines include Japan, the USA, the UK, Canada, Iran, Poland, and South Korea.
China is a major player in the drum washing machine industry. The top export destinations for Chinese drum washing machines are France, the UK, and the US, with Italy, Germany, and Spain being the other main destinations. China is a major exporter of drum washing machines, with France being the most prominent destination for Chinese exports. China's exports of these machines are expected to remain on a steady growth trajectory. This is due to the fact that China is one of the leading producers and exporters of home appliances in the world.
China Washing Machine Industry Overview
China's washing machine market is fragmented, and the existing businesses have a competitive edge over new businesses in terms of brand loyalty and market reputation. They should take advantage of this by undertaking the necessary R&D and producing products that can compete with imported goods and new market entrants. Some of the key players in the China washing machine market are Haier, Siemens, Little Swan, LG Electronics Co Ltd., TCL Corporation, Samsung Electronics, Panasonic Corporation, Bosch, Hisense, Sanyo, and Other prominent players.
China Washing Machine Market Leaders
Haier
LG Electronics
Siemens
Midea Group
Xiaomi
*Disclaimer: Major Players sorted in no particular order
China Washing Machine Market News
- October 2022: Haier launched its new artificial intelligence-enabled washing machine series, Haier 979 front load with direct motion motor and 52.5 cm drum. The 10 kg capacity washing machine comes at a price of Rs 95,990, with a three-year comprehensive warranty and 20 years of warranty on the motor.
- March 2022: Xiaomi launched a new product from MIJIA. It is the new version of the MIJIA Pulsator Washing Machine that has just been announced for the Chinese market. The MIJIA Pulsator Washing Machine houses a four-blade pulsating motor that helps wash stains with delicate care depending on the type of clothing material being washed. It can even intelligently detect the weight of the clothes and automatically match the water quantity as well. Additionally, the new washing machine from MIJIA can even be equipped with a safety child lock to prevent any form of misuse.
China Washing Machine Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Generative AI is anticipated to boost the growth of the global theme park market
4.1.2 Growth in the demand for Smart Washing Machines in the market
4.2 Market Restraints
4.2.1 The growth of the market is likely to be hindered by a high level of electricity consumption
4.3 Market Opportunities
4.3.1 Increase in the demand for fully automatic washing machines
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Insights on Current Trends and Technological Innovations in the Market
4.6 Impact of COVID-19 on the market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Front Load
5.1.2 Top Load
5.2 By Technology
5.2.1 Fully Automatic
5.2.2 Semi Automatic
5.3 By Distribution Channel
5.3.1 Supermarkets and Hypermarkets
5.3.2 Specialty Stores
5.3.3 Online
5.3.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Haier
6.2.2 LG Electronics
6.2.3 Siemens
6.2.4 Midea Group
6.2.5 Xiaomi
6.2.6 TCL Corporation
6.2.7 Panasonic Corporation
6.2.8 Hisense
6.2.9 Bosch
6.2.10 Samsung*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER
China Washing Machine Industry Segmentation
Washing machines are widely used home appliances for washing clothes, as they save energy and time. The study provides a complete background analysis of the China washing machine market, which includes assessing the national accounts, economy, and emerging market trends by segments, significant changes in the market dynamics, and the market overview covered in the report.
The China washing machine market is segmented by type (front load and top load), technology (fully automatic and semi-automatic) and by distribution channel (supermarkets, and distribution channel (supermarkets, hypermarkets, specialty stores, online, and other distribution channels).
The report offers market size and a forecast in value (USD) for all the above segments.
| By Type | |
| Front Load | |
| Top Load |
| By Technology | |
| Fully Automatic | |
| Semi Automatic |
| By Distribution Channel | |
| Supermarkets and Hypermarkets | |
| Specialty Stores | |
| Online | |
| Other Distribution Channels |
China Washing Machine Market Research FAQs
How big is the China Washing Machine Market?
The China Washing Machine Market size is expected to reach USD 17.28 billion in 2024 and grow at a CAGR of greater than 3.5% to reach USD 20.39 billion by 2029.
What is the current China Washing Machine Market size?
In 2024, the China Washing Machine Market size is expected to reach USD 17.28 billion.
Who are the key players in China Washing Machine Market?
Haier, LG Electronics, Siemens, Midea Group and Xiaomi are the major companies operating in the China Washing Machine Market.
What years does this China Washing Machine Market cover, and what was the market size in 2023?
In 2023, the China Washing Machine Market size was estimated at USD 16.68 billion. The report covers the China Washing Machine Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the China Washing Machine Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
China Washing Machine Industry Report
Statistics for the 2024 China Washing Machine market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. China Washing Machine analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
