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Laundry appliances are those devices that are used to clean clothes and textiles. The growth of the laundry appliances market is fuelled by factors such as rising number of middle-class populations which can afford washing machine and dryers, increased disposable income, changing lifestyle and increased level of standard of living. A growing number of working women populations is also acting as a growth driver for the laundry appliances market. Trends include innovating to increase efficiency and energy efficiency, as well as water consumption, due to environmental guidelines highlighted by several governments. The smart appliances trend is pervasive through the usage of sensors, and other components used in smart technology. This market, dependent on real estate growth, both purchase and rental refurbishing are also innovating for smaller appliances, because of different housing arrangements across the world.
Scope of the report
A complete background analysis of the Laundry Appliances Market, which includes an assessment of the parental market, emerging trends by segments and regional markets, significant changes in market dynamics, and market overview, is covered in the report.
|Electric Smoothing Irons|
|Other Distribution Channels|
|Middle East and Africa|
Key Market Trends
Rise in Population is Driving the Market
An increase in population fosters the demand for laundry appliances. The increasing population and rising working-class population are the driving forces of the laundry appliances industry. The growth of the laundry appliances market is fuelled by factors such as rising number of middle-class populations which can afford washing machine and dryers, increased disposable income, changing lifestyle and increased level of standard of living. An increase in the number of women working population is driving the demand for appliances such as Washing Machine that assists women with household chores. Moreover, the increasing urban population across the world is anticipated to display a higher adoption rate and substantial growth in laundry appliances market revenue over the forecast period.
Growth in the population living in urban areas resulting in increased levels of disposable income that have made these appliances affordable; these factors are expected to drive the market growth. Asia-Pacific will be the fastest-growing region due to the rising economy level and a large population offers huge market potential.
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Smart Homes are Driving the Market
The growth of the smart home market is driven by various factors, such as the increasing number of internet users, rising consumer disposable income in developing economies, the growing importance of home monitoring in remote locations, growing need for energy-saving and low carbon emission-oriented solutions, the rapid proliferation of smartphones and smart gadgets, expansion of smart home product portfolio by a large number of players, growing concern about safety, security, and convenience among the general population. Technological advancement in the smart homes category is resulting in higher demand for connected appliances, such as smart washers, as a source of luxury and convenience.
Increased adoption of the automatic washing process as an essential part of everyday housekeeping activity among Europeans has created lucrative growth prospects in the region. Moreover, the higher indulgence of Americans in smart devices and smart homes is ramping up the sales of smart washing machines owing to the increased prominence of connected devices. Moreover, the growing scarcity of water across the globe is compelling manufactures to devise products with technology that minimizes the use of water. Thus, these smart washing machines with Energy Star ratings can save a lot of water as compared to conventional washing machines.
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The report covers major international players operating in the Laundry Appliances Market. In terms of market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.
August 2020 - Samsung Introduced AI-Powered Laundry Lineup with Top-Tier Energy Efficiency. The new laundry lineup is the washing machine equipped with artificial intelligence (AI) features that customize the laundry process to achieve the same powerful wash with less time, energy, and effort, as well as Samsung’s EcoBubble and QuickDrive technology.
January 2021 - LG Electronics has introduced its new LG ThinQ front-load washing machine that features an Artificial Intelligent Direct Drive (AI DD) motor which detects not only the weight, but also senses softness of fabric, and chooses the optimal motions for the fabric by itself. The LG ThinQ washing machine can be operated via the Smart ThinQ Wi-Fi giving one access to control the machine from anywhere and anytime, creating an integrated experience for its user.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain / Supply Chain Analysis
4.5 Porters 5 Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of Covid-19 on the Market
4.7 Insights On Technological Innovations In The Market
4.8 Insights On Government Regulation In The Market
5. MARKET SEGMENTATION
5.1.2 Built in
5.2.1 Washing Machine
5.2.3 Electric Smoothing Irons
5.3.2 Semi-Automatic/ Manual
5.4 Distribution Channel
5.4.1 Multi-brand Stores
5.4.2 Exclusive Stores
5.4.4 Other Distribution Channels
5.5.1 North America
5.5.2 Latin America
5.5.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.2 Alliance Laundry Systems
6.2.6 Candy Group
6.2.9 GD Midea Holding Co. Ltd.
6.2.11 Panasonic Corp
6.2.12 Godrej Group
6.2.13 Haier Group
6.2.14 Miele & Cie KG
6.2.15 Hitachi Appliances Inc.
6.2.16 LG Electronics
6.2.17 IFB Industries Limited
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Laundry Appliances Market market is studied from 2016 - 2026.
What is the growth rate of Laundry Appliances Market?
The Laundry Appliances Market is growing at a CAGR of >3% over the next 5 years.
Which region has highest growth rate in Laundry Appliances Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Laundry Appliances Market?
Asia Pacific holds highest share in 2020.
Who are the key players in Laundry Appliances Market?
- Whirlpool Corporation
- LG Electronics
Are the major companies operating in Laundry Appliances Market.