Market Size of China Washing Machine Industry
| 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.
