RESIDENTIAL WASHING MACHINE MARKET - GROWTH, TRENDS, AND FORECAST (2019-2024)

The market is segmented By Type (Front Load, and Top Load), By Technology (Fully-Automatic, Semi-Automatic, and Dryers), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online, and Others), and by Geography (North America, Europe, Asia-Pacific, South America, and the Middle East and Africa)

Market Snapshot

market size
Study Period:

2015-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

6%

Key Players:

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Market Overview

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

  • Residential washing machines are widely used home appliances for washing laundry, as they save time and energy.
  • Numerous technological advancements have been 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 key players in this market to gain a significant market share in the washing machine market. Moreover, the government has taken various initiative towards the development of rural household in developing countries in Asia-Pacific, which is expected to increase the demand for residential washing machines.
  • Increase in disposable income and improvements in rural electrification drive the global residential washing machine industry. In addition, rising affordability of washing machines and increased urbanization have 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.

Scope of the Report

A complete background analysis of the Residential Washing Machine 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. The report also features the qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

By Type
Front Load
Top Load
By Technology
Fully-Automatic
Semi-Automatic
Dryers
By Distribution Channel
Supermarkets/Hypermarkets
Specialty Stores
Online
Others
Geography
North America
Europe
Asia-Pacific
South America
Middle East and Africa

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Key Market Trends

Fully Automatic Washing Machine is Expected to Grow at Higher Rate

Fully automatic washing machine contains a single motor which has the ability of both washing and whirling which is done by on its own without any help of any manual involvement. The segment is expected to be the fastest-growing segment owing to the growing shortage of time for household chores. Increased number of dual-income households with insufficient time for laundry has led to the growing demand for laundromats. The energy labels and energy efficiency policies have enabled manufacturers to focus on the development of energy-efficient products.

Trend 1

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Asia-Pacific Region to Witness the Highest Growth

The Asia-Pacific residential washing machine market is anticipated to grow rapidly, as residential washing machines have gained popularity owing to their compatibility and user-friendliness features. In addition, emerging economies in this region, rapid urbanization, and an expanding middle-class population drive this market. The demand for residential washing machines is witnessing a continuous rise, owing to less availability of time to laundry by an increasing the number of individuals due to their hectic lifestyle.

Trend 2

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Competitive Landscape

The report covers major international players operating in the Residential Washing Machine Market. The market is dominated by players such as LG Electronics Inc, Whirlpool Corporation, Haier Group Corporation, Electrolux, and others. 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.

Major Players

  1. LG Electronics Inc.
  2. Whirlpool Corporation
  3. Haier Group Corporation
  4. Electrolux AB
  5. Panasonic Corporation

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Key Deliverables of the Study

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Drivers

    3. 4.3 Restraints

    4. 4.4 Trends Shaping the Residential Washing Machine Market

    5. 4.5 Porter's Five Forces Analysis

    6. 4.6 Industry Value Chain Analysis

    7. 4.7 Regulatory Framework

    8. 4.8 Technological Innovations

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Front Load

      2. 5.1.2 Top Load

    2. 5.2 By Technology

      1. 5.2.1 Fully-Automatic

      2. 5.2.2 Semi-Automatic

      3. 5.2.3 Dryers

    3. 5.3 By Distribution Channel

      1. 5.3.1 Supermarkets/Hypermarkets

      2. 5.3.2 Specialty Stores

      3. 5.3.3 Online

      4. 5.3.4 Others

    4. 5.4 Geography

      1. 5.4.1 North America

      2. 5.4.2 Europe

      3. 5.4.3 Asia-Pacific

      4. 5.4.4 South America

      5. 5.4.5 Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 LG Electronics Inc.

      2. 6.1.2 Whirlpool Corporation

      3. 6.1.3 Haier Group Corporation

      4. 6.1.4 Electrolux

      5. 6.1.5 Panasonic

      6. 6.1.6 BSH Home Appliances Group

      7. 6.1.7 GE

      8. 6.1.8 Samsung

      9. 6.1.9 Hitachi

      10. 6.1.10 Toshiba*

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. APPENDIX

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