Market Overview

One of the most useful home appliances used in households across the world is a washing machine. The features of the washing machine are still being improved by incorporating microcontrollers that allow manufacturers to implement many useful features.

• Residential washing machines are the widely used home appliances for washing laundry, as they save time and energy.
• Numerous technological advancements were carried out in these machines during the last few years, leading to their higher efficiency, in terms of saving water and electricity.
• This has also enabled the key players in the market to gain a significant share in the washing machine market. Moreover, the government has taken various initiatives toward the development of rural households in developing countries in Asia-Pacific, which is expected to increase the demand for residential washing machines.
• An increase in disposable income and improvements in rural electrification drive the residential washing machine industry. In addition, the rising affordability of washing machines and increased urbanization fueled the demand for washing machines.
• However, the availability of laundry shops and growth in online laundry services hamper the growth. Technological and innovative advancement related to washing machines presents a major opportunity for manufacturers operating in this market.