Latin America Washing Machine Market Size
|Study Period:||2019 - 2028|
|CAGR:||< 5 %|
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and it's growth?
Latin America Washing Machine Market Analysis
The Latin America Washing Machine Market is projected to register a CAGR less than 5% during the forecast period (2021-2026).
The lockdown has made the economy handicapped with the shutters closed and is also affecting the livelihood of many. The manufacturing units have already suffered a huge loss. With it, the livelihood of those associated with the industry is at stake. COVID-19 has disrupted the global supply chain of the major brands of washing machine market. 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 South America 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.
Despite being dominated by large countries such as Brazil, the Latin American region has countries with significant differences. Growth in the washing machine market is driven by the increased disposable income of households, with demand clustered on washing machines. The growth in Latin America’s middle-class population will further drive growth and bring opportunities for the home appliances market. However, the low saving ratio in the country may bring in some challenges for the growth of the market. Consumption of home appliances in Argentina has been affected by economic situations. In April 2018, the peso was devalued which increased prices in the country. To overcome this effect, the government has launched a program for its citizens to purchase goods on credit cards with drop-in interest rates by 20 basis points.
Latin America Washing Machine Industry Segmentation
Washing machine is an electronic home appliance that is used to wash the various types of clothes without applying any physical efforts. A complete background analysis of the Latin America Washing Machine Market, which includes an assessment of the emerging trends by segments and regional markets, significant changes in market dynamics, and market overview, is covered in the report. The North America Washing Machine Market is segmented by Product Type (Front Load and Top Load), by Technology (Fully automatic and Semi-automatic), by Distribution Channel (Multi-brand Stores, Specialty Stores, Online and Other Distribution Channels) and by Geography (United States of America, Canada, Mexico).
|Other Distribution Channels|
|Rest of Latine America|
Latin America Washing Machine Market Trends
This section covers the major market trends shaping the Latin America Washing Machine Market according to our research experts:
Rapidly growing Online Selling Trend in Latin America
Departmental Stores dominates large appliance sales in the market. E-commerce channels are leading market sales. Consumers are growing preference for online channels. Consumers are interestingly using credit cards, debit cards, and internet banking to shop for laundry appliances. Players are coming up with virtual wallets so that consumers can pay put the amount in the safe and secure environment of the company's wallet. Smartphones are becoming increasingly choice for consumers. The 58% of consumers are choosing online sales due to security in the purchase process, 54% because of diversity in payment methods, and 35% due to the speed of logistics. Online Channels of sales for laundry appliance sales due to reduced costs are also getting consumers buying through the channel. Mercado Libre is one of the most preferred online shopping channels for buying appliances in Latin America as the channel offers more security to consumers for buying.
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Brazil Signifying the Strongest Washing Machine Market in Latin America Region
Growth in Brazil's economy in the second half of 2019 spurred the demand in the market, cutting off credit rates led to higher sales of appliances in the market including laundry appliances. Automatic Washing Machines are gaining traction in Brazil laundry appliances, market. Space constraints in major cities and hectic lifestyles consumers in the market are seeking products that are more convenient saves time and are convenient. Smaller sized automatic washing machines are preferred choices for consumers in the market. Large capacity washing machines are also preferred by the consumers in the market owing to the dense population in the market.
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Latin America Washing Machine Industry Overview
The report covers major international players operating in the Latin America Washing Machine Market. In terms of market share, few of the major players currently dominate the market. However, with technological advancements and product innovations, mid-size to smaller companies is increasing their market presence by securing new contracts and tapping into new markets. The leading brands are opening exclusive stores for special products. The companies are also promoting, differentiating and selling limited editions to increase their visibility and brand awareness in the market.
Latin America Washing Machine Market Leaders
*Disclaimer: Major Players sorted in no particular order
Latin America Washing Machine Market News
- In 2020, White-Westinghouse International, a division of Electrolux Home Products, Inc. and one of the leading consumer appliance company collaborated with Superplastronics Pvt. Ltd. (SPPL) to enter into the Indian market with the launch of its washing machines range of 7 kg, 6 Kg and 9 kg washing machine category on Amazon.in.
Latin America Washing Machine Market Report - Table of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS & 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 market
5. MARKET SEGMENTATION
5.1 Product Type
5.1.1 Front Load
5.1.2 Top Load
5.2.1 Fully Automatic
5.3 Distribution Channel
5.3.1 Multi-brand Stores
5.3.2 Specialty Stores
5.3.4 Other Distribution Channels
5.4.4 Rest of Latine America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.8 Group SEB
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Latin America Washing Machine Market Research FAQs
What is the study period of this market?
The Latin America Washing Machine Market is studied from 2019 - 2028.
What is the growth rate of Latin America Washing Machine Market?
The Latin America Washing Machine Market is growing at a CAGR of <5% over the next 5 years.
Who are the key players in Latin America Washing Machine Market?
Haier, Electrolux, Samsung, Bosch, LG are the major companies operating in Latin America Washing Machine Market.
Latin America Washing Machine Industry Report
Statistics for the 2023 Latin America Washing Machine market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Latin America Washing Machine analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.