Global Residential Washing Machines Market growing at a CAGR of 8.4% from 2023 to 2030
Category : Machinery and Equipment | Published Date : May 2023
Key Market Overview
The global residential washing machines market was valued at USD 27,067.21 Million in 2022 and is expected to register a compound annual growth rate of 8.4% to reach USD 50,467.09 Million in 2030.
The report highlights the growing demand for easy and convenient systems of washing clothes as a result of changing consumer lifestyle. Consegic Business Intelligence provides an inclusive research report on the Residential Washing Machines market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.
Global Residential Washing Machines Market By Overview
The report analyses significant segments such as operation, product type, technology, capacity, pricing, sales channel, and region, to identify emerging trends and potential opportunities. The operation segment is expected to grow due to the growing demand of semi-automatic and fully-automatic washing machines for efficient cleaning of clothes. Consumers are deploying semi-automatic machines due to cost-efficiency and the ability to perform basic cleaning tasks such as washing and drying. Moreover, the utilization of fully automatic washing machines due to their advanced features is driving the growth of residential washing machines market.
Get Free SampleMarket Dynamics
Driver:
- Rising demand for washing machines as a result of changing consumer lifestyles is driving the market growth.
- The increasing government initiatives to promote the adoption of energy-efficient home appliances is propelling the growth of the market.
Restraints:
- The implementation of tariffs on international consumer goods including washing machines impedes the domestic market growth
- Environmental concerns associated with the residential washing machines is hindering the growth of the market.
Market Segmentation:
| Report Attributes | Report Details |
| By Operation | Semi-Automatic and Automatic |
| By Product Type | Front Loading, Top Loading, Dryers, and Washer Dryer |
| By Technology | Smart Connected and Conventional |
| By Capacity | Up to 6 Kg, 6.1-8Kg, and Above 8Kg |
| By Pricing | Low, Medium, and High |
| By Sales Channel | Online and Offline |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
The global residential washing machines market is highly competitive due to the presence of major players such as Electrolux AB, Whirlpool Corporation, Godrej Industries Ltd, Haier Group Corp, IFB Industries Ltd., LG Electronics Inc., operating in the global market. The market players are adopting new ways through product innovations, mergers and acquisitions, and business strategies to remain hold strong market position. Thus, evolving research and developments in residential washing machines are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various industries.
- Electrolux AB
- Whirlpool Corporation
- Godrej Industries Ltd.
- Haier Group Corp
- IFB Industries Ltd.
- LG Electronics Inc.
- Mirc Electronics Limited
- Panasonic Corporation
- Samsung Electronics Co. Ltd