Growing urbanization and changing lifestyles and
preferences for automatic washing machines are influencing the India washing
machine market, which is expected to grow at a CAGR of 7.25% during the
forecast period, reaching around USD2337.24 million by 2028F Furthermore,
increased purchasing power, product innovation, and technological improvements
are expected to boost the India washing machine market during the forecast
period.
Semi-automatic washing machines have two separate
tubs to wash and dry the clothes individually, while automatic washing machines
clean and dry the clothes in a single tub. There are different variations of
these clothes washing machines, each remembering various sorts of customers and
their necessities.
With the increasing need for washing machines in
the sector, various multinational companies are spending a massive amount of
money on their research and development segment. At the same time, various
innovations are being made to increase market growth. For instance, LG, Samsung,
and Panasonic have launched intelligent connected, i.e., AI and WIFI enabled
washing machines in 2021. Consumers are spoilt for choice with regards to
picking items. More current variations of an item will help an organization
stand out enough to be noticed by shoppers who search for development in items.
During the COVID-19 pandemic, many industries and
washing machines have seen minimal growth. As a result of the travel
restrictions, the country's trade has suffered. All markets, including the
washing machine market, have been affected by the country's mandated lockdown
and travel restrictions.
Increasing Population will lead to the Market
growth of washing machine
As India
is one of the fastest-growing regions globally, most people use washing
machines to wash and dry clothes efficiently in their home compared to laundry services,
which is expected to drive the market growth trend. Rapid urbanization will
also increase the growth rate of washing machines in the forecast period.
Increasing Purchasing Power will fuel the market
growth
The combined purchasing power of the Indian middle
class would develop into one of the world's most important markets; this
growing segment of the population and its enhanced spending capacity may fuel
creativity and create jobs, boosting economic growth. The development of
people's purchasing power in India is the key driver of the Indian washing
machine market.
Increasing Innovations to the Washing machine
Fueling the Market Growth
Washing machine manufacturers are incorporating
innovations into their products to advance development technologically. In the
Indian washing machine market, LG and Samsung have launched India's first AI
and WI-FI connected washing
machines. The new LG ThinQ front-load washing machine includes an Artificial
Intelligence Direct Drive (AI DD) motor, which takes it beyond the boundaries
of traditional washing machines. Samsung has released a bi-lingual washing
machine with a Hindi and English user interface powered by artificial
intelligence (AI). This new generation of fully automatic front load washing
machines is claimed to be made for India.
Increasing Nuclear Families
Expanding nuclear families, working women, and
rising consumer per capita income are all aspects that will move the washing
machine industry forward in the future. Aside from that, a more comprehensive
range of options prompts city dwellers to upgrade their semi-automatic machines
to fully automatic ones. The price gap between fully automatic and
semi-automatic top loaders has narrowed significantly, allowing brands to
promote the former more aggressively.
Threat of new competitor in the market
The domestic consumer electronics area faces danger
from more current organizations, particularly from worldwide ones that bring
mechanically advanced items to the table.
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Market Segmentation
The India washing machine market is segmented by
type, machine capacity, technology, distribution channel, and region. The
market is segmented into semi-automatic, top-load automatic, and front-load
automatic based on type. The machine capacity is further segmented into below 8
kg and 8 kg and above. The technology segment is divided into non-smart and
smart connected washing machines. The distribution channel is segmented into
multi-branded stores, supermarkets and hypermarkets, exclusive stores, online,
and others (direct sales, wholesales, etc.). The market analysis also studies
the regional segmentation divided into the south, north, west, and east.
Company Profiles
LG Electronics India Private Limited, Samsung India Electronics Private
Ltd., Whirlpool of India Limited, Godrej & Boyce Manufacturing Company
Limited, Haier Appliances (India) Private Limited, IFB Industries Ltd, Bosch
Limited, Panasonic India Private Limited, Mirc Electronics Limited (Onida) and
BPL Limited are some of the leading market players in the Indian washing
machine market. Newmarket players have also been actively entering the market
in recent years, further strengthening future market growth.
|
Attribute
|
Details
|
|
Market Size
Value in 2022
|
USD1545.46 Million
|
|
Revenue
Forecast in 2028
|
USD2337.24 Million
|
|
Growth Rate
|
7.25%
|
|
Base Year
|
2022
|
|
Historical Years
|
2018–2021
|
|
Estimated
Year
|
2023E
|
|
Forecast
Period
|
2024F –2028F
|
|
Quantitative
Units
|
Revenue in USD Million,
Volume in Thousand Units and CAGR for 2018-2022 and 2023E- 2028F
|
|
Report Coverage
|
Revenue
forecast, company share, competitive landscape, growth factors, and trends
|
|
Segments Covered
|
·
Type
·
Machine Capacity
·
Technology
·
Distribution Channel
·
Region
·
Top 3 Leading States
|
|
Regional Scope
|
South, North, West,
and East
|
|
Key Companies
Profiled
|
LG Electronics India
Private Limited, Samsung India Electronics Private Ltd., Whirlpool of India Limited,
Godrej & Boyce Manufacturing Company Limited, Haier Appliances (India)
Private Limited, IFB Industries Ltd, Bosch Limited, Panasonic India Private
Limited, Mirc Electronics Limited (Onida) and BPL Limited
|
|
Customization
Scope
|
10% free
report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing and Purchase
Options
|
Avail customized
purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel through Email (We can also provide the editable version
of the report in PPT/pdf format on special request)
|
Report Scope:
In this report, India washing machine market
has been segmented into following categories, in addition to the industry
trends which have also been detailed below:
- India Washing Machine Market, By Type:
- Top Load Automatic
- Semi- Automatic
- Front Load Automatic
- India Washing Machine Market, By
Machine Capacity:
- Below 8 Kg
- 8 kg and Above
·
India Washing Machine
Market, By Technology:
o Non-Smart Washing Machine
o Smart Connected Washing Machine
- India Washing Machine Market, By Distribution
Channel:
- Multi-Branded Stores
- Supermarkets and Hypermarkets
- Exclusive Stores
- Online
- Others (Direct Sales, Wholesales, etc.)
- India Washing Machine Market, By Region:
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in India washing machine market.
Available Customizations:
With the given market data, TechSci Research offers
customizations according to a company’s specific needs. The following
customization options are available for the report:
Company
Information
Detailed analysis and
profiling of additional market players (up to five).