Global Washing Machine Market to Reach Over USD32,000 Million by 2026
Increase in working youth
population, disposable income, innovation in technology of washing machines is expected to drive the
global washing machine market.
According to
TechSci Research report, “Global Washing
Machine Market
By
Type (Fully Automatic & Semi-Automatic), By Machine Capacity (Below 6 Kg,
Between 6-8 Kg and 8 Kg & above), By Technology (Smart Connected Washing
Machine & Conventional Washing Machine), By Region, Competition, Forecast
& Opportunities, 2026”, global washing machine market is
forecast to grow at a rate of over 7% during 2021-2026. A washing machine is an
appliance that is used for washing clothes, and a washing machine's primary
medium is water. Increased demand for home appliance automation is driving the market
for washing machines. The expanded number of double income
households combined with lacking time for clothing has prompted developing
demand for washing machines. Over the last decade, several
technical developments have been made in these devices, contributing to their
greater performance in terms of water and energy savings. This has also helped
key players in this market to gain a considerable market share in the global
washing machines market.
In addition, cross-border technology
exchanges have made life easier and more convenient, and many of the recipient
countries are emerging as promising new technology markets. Thus, in the coming
decade, the rising tide of globalization is likely to contribute to the developments
in the washing machine industry.
Browse 139 market Figures spread through 110
Pages and an in-depth TOC on"Global Washing Machine Market"
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The
global washing machine market is segmented based on type, fully automatic and semi-automatic.
Due to the growing urbanization and user-friendly functionality, the fully
automatic washing machine segment is expected to register the highest CAGR
during the forecast period. Recent trends show that, owing to different energy
labels and energy efficiency policies, manufacturers are focusing on the
development and production of some energy-efficient products.
In terms of regional analysis, the washing
machine market is segmented into North America, Europe, Asia-Pacific, South
America, and Middle East Africa. Out of which, Asia-Pacific is the
fastest growing region among the global washing machine market and the region
is anticipated to maintain its growth rate over the next five years as well. As
washing machines have gained popularity due to their compatibility and
user-friendliness, the Asia-Pacific washing machine market has experienced a
rapid increase. Moreover, this demand is driven by emerging economies in this
area, rapid urbanization, and an expanding middle-class population. Major Asian
countries such as India and China are registering high population levels and the
increased disposable income. Consequently, the region is witnessing an increase
in the usage of washing machines. An increase in demand for energy-efficient
and cost-effective washing machines is a factor that is expected to drive North
America's market growth.
Based on machine capacity, the global
washing machine market is projected to be dominated by between 6 to 8 kg of
machine capacity over the forecast era, as these machines have gained high
customer preference as they provide perfect laundry capacity for most
households worldwide. Furthermore, washing machines with a size of 6-8 kg are
better at saving energy compared to other washing machines.
Based on technology, the smart connected
washing machine is expected to increase in the forecast period. These devices
connect to a network in the same way as tablets or phones do via Wi-Fi. Increasing
penetration of smartphones and the Internet has led to increased awareness
regarding innovative and smart washing machines, resulting in the growth of the
global market. Some of the key factors contributing to increased demand for
smart washing machines in the world market are ease of operation and relaxed
sliding. During the washing process, smartly linked washing machines make
efficient use of water and electricity. Technology innovation in smartly
connected washing machines offers real-time knowledge of washing stages through
remote sensing to the customer. Using Wi-Fi networking will make it easy for
users to operate the washing machine conveniently from a remote location.
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“The worldwide
washing machine industry is powered by rising disposable revenue and
developments in rural electrification. Furthermore, increasing washing machine
affordability and increasing urbanization are further boosting the demand for
washing machines across the world. However, it is likely that the availability
of laundry shops and the rise of online laundry services would impede business
growth.”, said Mr. Karan
Chechi, Research Director with TechSci Research, a research based global
management consulting firm.
“Global Washing Machine
Market By Type (Fully Automatic
& Semi-Automatic), By Machine Capacity (Below 6 Kg, Between 6-8 Kg and 8 Kg
& above), By Technology (Smart Connected Washing Machine & Conventional
Washing Machine), By Region, Competition, Forecast & Opportunities, 2026” has evaluated the future
growth potential of washing machine globally and provides statistics and information on market structure, size, share
and future growth. The report is intended to provide cutting-edge market
intelligence and help decision makers take sound investment decision. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities present in the global washing
machine market.
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