Market Size of Europe Washing Machine Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Europe Washing Machines Market Analysis
The Europe Washing Machine Market is projected to register a CAGR greater than 4% during the forecast period (2021-2026).
COVID-19 has also disrupted the Europe supply chain of the major brands of washing machine. China is the one of the largest consumers and producers of washing machine products but also caters to a wide range of countries by exporting several input supplies that are essentially used to produce finished goods. Shut down of the production in China has forced other washing machine manufacturers based in the US and Europe to temporarily hold the production of the finished goods. This is leading to the increase in the supply and demand gap and the product market.
The European region has experienced low-interest rates and a good economic situation during the study period, with consumers showing interest in products in the home appliance market especially in Washing Machine. The introduction of technologically advanced products is one of the key trends witnessed in the washing machine market in Europe. The growing demand for innovative and advanced products drove the demand for and popularity of washing machines in Europe. The technologically advanced smart products not only delivers their basic features but also derives the highest value from the amount spent on a single product. Two of the key factors contributing to the growth of the washing machine market in Europe are product innovations and portfolio extensions, leading to product premiumization.
