Increasing disposable income, technological advancements, and consumer affluence are inducing the home appliances market growth, and the washing machine market in particular. The latest innovations in washing machine technology are not only limited to cleaning the garments from hard stains but also upgrading washing machines with smart technology to consume less water and keep the clothes fresh and soft. At present, energy-efficient and noise-free washing machines are gaining grounds in the washing machine market. Manufacturers are coming up with new innovations in bubble technology and drive technology which lessens the energy consumption, fabric damage, and promote soft wash. As of 2018, the global washing machine market size attained a global value of $37.11 billion. Furthermore, the market is projected to rise at a CAGR of 5.42% during the forecast period 2019-2025. —
The report is titled: “Washing Machine Market: By Loading (Front Loading, Top Loading, Others); By Operation (Semi-Automatic, Fully Automatic); By Capacity (Below 6kg, 6.1 to 8kg, 8.1 to 20kg, others); By End User (Residential, Hotels, Healthcare Facilities, Others); & Geography - Forecast (2019 - 2025).” It incorporates an in-depth assessment of the competitive landscape, market drivers, operating depth analysis, future prospects, manufacturing cost analysis, end-user industries, market entropy, supply and demand analysis, strategic analysis production life cycle, market trends, mergers and acquisitions, and market life cycle analysis of the global washing machine market. This report covers washing machine market Size by operation and end-user, washing machine market share by top 5 companies and also the market share by start-ups during the forecast period.
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Washing Machine Market: Leading Segments
Washing machine market has great potential among residential users. Residential washing machines are widely used as they save time and energy of the consumers. Rural electrification and rising affordability of washing machines fuel the washing machine market growth, especially in developing countries. Henceforth, the growing demand for residential washing machine market is anticipated to grow a CAGR of 6.70% during the forecast period.
Despite the higher tariffs levied on imported washing machines, South Korea based home appliances manufacturers: Samsung Electronics Co. and LG Electronics Inc. leverage huge demand from the U.S. market. Consumers are inclined to purchase smart connected laundry machines. This trend continues to grow in the U.S., as the consumers tend to choose convenient and fine performing to clothe washers. Consequently, North America had the maximum washing machine market share of 36.84% as of 2018.
Washing machine market: Disruptive Trends
Home appliances operation gained popularity with the emergence of smartphones. Major players of the washing machine market such as Samsung Electronics Co., Ltd. and Miele are making smart washing machines which uses wireless technologies such as WI-FI, Bluetooth, and 3G connectivity. These technologies enable washing machine operation even from remote places with the help of an application.
The trend to eliminate manual operation of wash cycle is leading to intelligent washing machines. The washing machines are embedded with fabric sensors which can smartly identify the type of fabric and set the washing time, water volume, temperature, and spinning time automatically.
The manufacturer and end-user connection is critical to the product enhancement and marketing of the organization. IoT enables this connection and provides better customer service, and predictive maintenance to consumers.
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Washing machine market: Competitive Landscape
Samsung, LG, Whirlpool, Haier, Electrolux, Panasonic, Bosch, Miele, Toshiba, BSH, GE, Hisense, and Hitachi are the major players in the global washing machines market.
A. Smart Home Appliances Market
B. Industrial Cleaning Market
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