Washing Machine

Washing Machine Market Research Report: Forecast (2023-2028)

By Product (Fully Automatic (Front Load, Top Load), Semi-Automatic, Dryers), By Technology (Smart Connect, Conventional), By Capacity (Less than 6 kg, 6.1 to 8 kg, Above 8 kg), By End User (Commercial Read more

  • FMCG
  • Dec 2022
  • 187
  • CG10218

Market Insights

The Global Washing Machine Market is projected to grow at a CAGR of around 5.2% CAGR during 2023-28. The growth of the market is projected to be driven primarily by the growing focus of consumers on maintaining hygiene and their increasing inclination toward automated household chores, i.e., demonstrating a higher sale rate for washing machines across different countries worldwide.

Besides, as the economic conditions of the people are improving, alongside the rapid urbanization, the mounting demand for smart features like minimal physical efforts, reduced drying time, etc., in these machines is another contributor to the market growth.

Moreover, with the growing working population with minimum or no time for household chores, the sales of washing machines are peaking rapidly and, in turn, instigating the leading manufacturers to widen their production & distribution capacities in order to cater the ever-increasing consumer requirements.

In addition, higher interest of people in sporting disciplines like cricket, basketball, football, tennis, and others, are also propelling the sales of washing machines due to the high laundry generation, thereby further driving market growth globally.

Report Coverage Details
Study Period Historical Data: 2018-21
Base Year: 2022
Forecast Period: 2023-28
CAGR (2023-2028) 5.2%
Regions Covered North America: USA, Canada, Mexico
South America: Brazil, Argentina
Europe: The UK, Germany, France, Spain, Italy, Rest of Europe
Asia-Pacific: China, India, Japan, South Korea, Rest of Asia-Pacific
Middle East & Africa: UAE, Saudi Arabia, Turkey, South Africa, Rest of Middle East & Africa
Key Companies Profiled Alliance Laundry Systems, Electrolux AB, GE Appliances, Girbau, Haier Inc., IFB Appliances, Kenmore, LG Electronics Inc., Miele, Panasonic Corporation, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sharp Corporation, Siemens AG, Whirlpool Corporation, Godrej, and Fisher & Paykel Appliances
Unit Denominations USD Million/Billion

 

The Emergence of Smart Washing Machines: A Prominent Growth Contributor to the Market

As developments are rapidly taking place to make life easier, technological innovations in washing machines are nowhere behind. Many prominent companies are indulged in numerous research & development activities, brining modern solutions with an increased usage of IoT technologies in these machines. It, in turn, demonstrate betterment in the simplicity of the washing process with features like monitoring, alerts, & control through smart devices, making it much convenient for the users to operate in their busy schedules. For instance:

  • In September 2018, Haier introduced a smart laundry services in India, which offers IoT washing machines connected to the cloud. The unique feature of this innovation include the management of washing laundry separately through smart devices via applications. 

Market Segmentation:

Based on Product Type, the Global Washing Machine Market bifurcates into:

  • Fully Automatic
    • Front Load
    • Top Load
  • Semi-Automatic
  • Dryers

Of them all, the fully-automatic segment acquired the largest share of the market in the previous years, and the same trend is likely during 2023-28. It owes to the rapidly increasing working population with minimum or no time for laundry or house chores, demonstrating greater consumer inclination toward technologically advanced products. Besides, improving economic standards and rapid urbanization are also shaping the prospect of home automation and contributing to the sales of fully automatic washing machines. Moreover, growing consumer awareness about the benefits of these machines in offering assistance in washing & drying in the same drum, and saving a massive amount of time & physical effort, is also hinting toward higher user preference in buying fully-automatic machines and stimulating the overall market growth through the forecast period.

Based on Capacity:

  • Less than 6 kg
  • 6.1 to 8 kg
  • Above 8 kg

Here, capacity ranging between 6.1- 8 kg held the largest market share in the past few years. It owes to the increasing number of nuclear families & single households on account of rapid urbanization, coupled with the mounting consumer focus on electricity & water savings. On the other hand, the demand for more than 8 kg capacity is expected to register significant growth, primarily for commercial purposes in hotels, hospitals, and among laundry service providers. Since these facilities generate massive laundry, they require more capacity for a large number of clothes to be washed in one go and achieve energy & water efficiency. Hence, the growing establishment of commercial facilities worldwide is likely to boom the sales of washing machines with over 8kg capacity and, consequently, stimulate the overall market growth in the coming years.

Regional Landscape

On the geographical front, the Global Washing Machine Market expands across:

  • North America
  • South America
  • Europe
  • Middle East & Africa
  • Asia-Pacific

Of all regions globally, the North America Washing Machine Market is anticipated to demonstrate the fastest growth during 2023-28. It owes to the growing consumer interest in diverse outdoor activities, resulting in greater laundry needs. In addition, many commercial places are offering laundry services to customers, i.e., also demonstrating peaking sales of washing machines in different countries, especially in the US & Canada. Besides, rapid urbanization and a hike in the construction activities for new homes are also fostering the demand for home appliances, including these machines, and favoring the market in North America.

On the other hand, Asia-Pacific is anticipated to dominate the market with the largest share during the forecast period. This dominance is backed by improving economic conditions and rising disposable incomes, i.e., showcasing an increasing purchasing power for these machines. Besides, the growing working population, especially in the middle & lower-income sections, is emerging as prominent consumers of washing machines, increasing the overall consumption rate, particularly across countries like China & India. Moreover, the presence and active participation of numerous domestic brands like Samsung, Haier, & LG, among others, and their progressive role in maximizing the production and distribution of washing machines inbuilt with new technologies, are also catering to the overall market growth with an opportunistic future in the region.

Possible Growth Restraint for the Market Expansion through 2028

  • Much High Power Consumption: A Big Concern for Most Consumers

As high power utilization by these machines is a severe concern for many consumers, their sales might register a slow growth pace in a few regions, particularly underdeveloped or rural areas. For instance: leading brands like Reliance Digital, Samsung, and others, have models with power consumptions of over 2000 watts, which might not showcase a decent demand for these machines across all regions and negatively influence the fledged growth of the Global Washing Machine Market during 2023-28.

Key Questions Answered in the Market Research Report:

  1. What are the overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares) of the Global Washing Machine Market?
  2. What are the region-wise industry size, growth drivers, and challenges?
  3. What are the key innovations, opportunities, current & future trends, and regulations in the Global Washing Machine Market?
  4. Who are the key competitors, their key strengths & weaknesses, and how do they perform in the Global Washing Machine Market based on the competitive benchmarking matrix?
  5. What are the key results derived from surveys conducted during the Global Washing Machine Market study?

Frequently Asked Questions

A. The Washing Machine Market is likely to register around 5.2% CAGR during 2023-28.

A. The growing focus of consumers on maintaining hygiene and their increasing inclination toward automated household chores are the prime aspects projected to drive the Washing Machine Market during 2023-28.

A. Alliance Laundry Systems, Electrolux AB, GE Appliances, Girbau, Haier Inc., IFB Appliances, Kenmore, LG Electronics Inc., Miele, Panasonic Corporation, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Sharp Corporation, Siemens AG, Whirlpool Corporation, Godrej, and Fisher & Paykel Appliances, among others, are the key companies participating in the Washing Machine Market.

A. Above 10kg capacity is expected to create lucrative prospects for the leading players in the Washing Machine Market during 2023-28.

A. Globally, North America would create substantial growth opportunities for the Washing Machine Market during 2023-28.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Global Washing Machine Market Trends & Insights
  5. Global Washing Machine Market Dynamics
    1. Growth Drivers
    2. Challenges
  6. Global Washing Machine Market Hotspot & Opportunities
  7. Global Washing Machine Market Outlook, 2018- 2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Product
        1. Fully Automatic
          1. Front Load
          2. Top Load
        2. Semi-Automatic
        3. Dryers
      2. By Technology
        1. Smart Connect
        2. Conventional
      3. By Capacity
        1. Less than 6 kg
        2. 6.1 to 8 kg
        3. Above 8 kg
      4. By End User
        1. Commercial
        2. Residential
      5. By Sales Channel
        1. E-commerce
        2. Retail Chains
      6. By Region
        1. North America
        2. South America
        3. Europe
        4. The Middle East & Africa
        5. Asia-Pacific
      7. By Company
        1. Competition Characteristics
        2. Revenue Shares
  8. North America Washing Machine Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Product
      2. By Technology
      3. By Capacity
      4. By End User
      5. By Sales Channel
      6. By Country
        1. The US
        2. Canada
        3. Mexico
    3. The US Washing Machine Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Product
        2. By Capacity
        3. By End User
    4. Canada Washing Machine Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Product
        2. By Capacity
        3. By End User
    5. Mexico Washing Machine Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Product
        2. By Capacity
        3. By End User
  9. South America Washing Machine Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Product
      2. By Technology
      3. By Capacity
      4. By End User
      5. By Sales Channel
      6. By Country
        1. Brazil
        2. Argentina
    3. Brazil Washing Machine Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Product
        2. By Capacity
        3. By End User
    4. Argentina Washing Machine Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Product
        2. By Capacity
        3. By End User
  10. Europe Washing Machine Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Product
      2. By Technology
      3. By Capacity
      4. By End User
      5. By Sales Channel
      6. By Country
        1. The UK
        2. Italy
        3. Germany
        4. France
        5. Spain
        6. Rest of Europe
    3. The UK Washing Machine Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Product
        2. By Capacity
        3. By End User
    4. Italy Washing Machine Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Product
        2. By Capacity
        3. By End User
    5. Germany Washing Machine Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Product
        2. By Capacity
        3. By End User
    6. France Washing Machine Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Product
        2. By Capacity
        3. By End User
    7. Spain Washing Machine Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Product
        2. By Capacity
        3. By End User
  11. The Middle East & Africa Washing Machine Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Product
      2. By Technology
      3. By Capacity
      4. By End User
      5. By Sales Channel
      6. By Country
        1. Saudi Arabia
        2. The UAE
        3. South Africa
        4. Turkey
        5. Rest of the Middle East & Africa
    3. Saudi Arabia Washing Machine Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Product
        2. By Capacity
        3. By End User
    4. The UAE Washing Machine Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Product
        2. By Capacity
        3. By End User
    5. South Africa Washing Machine Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Product
        2. By Capacity
        3. By End User
    6. Turkey Washing Machine Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Product
        2. By Capacity
        3. By End User
  12. Asia-Pacific Washing Machine Market Outlook, 2018-2028F
    1. Market Size & Analysis
      1. By Revenues (USD Million)
      2. By Units Sold (Thousand Units)
    2. Market Share & Analysis
      1. By Product
      2. By Technology
      3. By Capacity
      4. By End User
      5. By Sales Channel
      6. By Country
        1. China
        2. Japan
        3. India
        4. South Korea
        5. Rest of Asia Pacific
    3. China Washing Machine Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Product
        2. By Capacity
        3. By End User
    4. Japan Washing Machine Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Product
        2. By Capacity
        3. By End User
    5. India Washing Machine Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Product
        2. By Capacity
        3. By End User
    6. South Korea Washing Machine Market Outlook, 2018-2028F
      1. Market Size & Analysis
        1. By Revenues (USD Million)
        2. By Units Sold (Thousand Units)
      2. Market Share & Analysis
        1. By Product
        2. By Capacity
        3. By End User
  13. Competition Outlook
    1. Competition Matrix
      1. Product Portfolio
      2. Target Markets
      3. Research & Development
      4. Strategic Alliances
      5. Strategic Initiatives
    2. Company Profiles (Business Description, Solutions Offered, Business Segments, Financials, Future Plans)
      1. Alliance Laundry Systems
      2. Electrolux AB
      3. GE Appliances
      4. Girbau
      5. Haier Inc
      6. IFB Appliances
      7. Kenmore
      8. LG Electronics Inc.
      9. Miele
      10. Panasonic Corporation
      11. Robert Bosch GmbH
      12. Samsung Electronics Co. Ltd.
      13. Sharp Corporation
      14. Siemens AG
      15. Whirlpool Corporation
      16. Others (Godrej, Fisher & Paykel Appliances, etc.)
  14. Disclaimer
Washing Machine Market Segmentation Slide