The global washing machine market is anticipated to grow at a CAGR of 4.0% during the forecast period (2022-2028).The major factor expected to drive the market growth is the rising urban population coupled with the rise in disposable income and affordability among residents of cities, and the increasing demand for online on-demand laundry services. In addition, the increasing growth of the apparel and fashion industry, and advancement of science and technology which led to increased use of Internet of Things (IoT) technologies to support increase the simplicity of the washing process as it will monitor, alert and control the machine through the intelligent device. These are some factors that propel the growth of the global washing machine market during the forecast period.
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Some major players in the market include LG Electronics Inc., Samsung Electronics Co., Ltd., and Whirlpool Corp., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in September 2020, Samsung Electronics Co., Ltd. announced the launch of its new range of artificial intelligence (AI) powered front load washing machines in India, along with a 7 kg washer dryer front load machine. The machine is equipped with the company’s latest Q-Raptor technology that offers three smart features to manage laundry along with the features such as a homecare wizard to monitor the washing machine’s condition, a laundry recipe to provide auto-recommendation for optimal wash, and a laundry planner to manage finishing time. Further, in August 2020, Panasonic Corp. announced the launch of 21 new models that include fully automatic and top load washing machines with a five-star rating and equipped with built-in heater technology and Stain Master+, which provide bacteria elimination.
Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Technology
- By Rating
- By Capacity
- By Distribution Channel
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape-LG Electronics Inc., Samsung Electronics Co., Ltd., and Whirlpool Corp., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Washing Machine Market Report by Segment
By Type
- Front Load
- Top Load
By Technology
- Fully Automatic
- Semi-Automatic
By Rating
- One Star
- Two Star
- Three Star
- Four Star
- Five Star
By Capacity
- Below 6 KG
- 6 kg to 8 KG
- 8 Kg to 20 KG
- Above 20 KG
By Distribution Channel
- Supermarkets and Hypermarkets
- Specialty Stores
- Online
- Others
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