PUBLISHER: The Business Research Company | PRODUCT CODE: 1217063
PUBLISHER: The Business Research Company | PRODUCT CODE: 1217063
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“Washing Machines Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on washing machines market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for washing machines ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The washing machines market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Companies Mentioned: Whirlpool Corporation; Panasonic Corporation; Robert Bosch GmbH; Miele; Haier Group Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Major players in the washing machine market are: Whirlpool Corporation, Panasonic Corporation, Robert Bosch GmbH, Miele, Haier Group Corporation, Electrolux AB, GE Appliances, AEG, Tecnik, and IFB.
The global washing machines market will grow from $66.43 billion in 2022 to $70.38 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The washing machines market is expected to grow to $84.54 billion in 2027 at a CAGR of 4.7%.
The washing machine market consists of sales of semi-automatic washing machines and fully automatic washing machines. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
A washing machine is an appliance used to wash clothes without any physical effort.
Asia Pacific was the largest region in the washing machine market in 2022. Western Europe was the second-largest region in the washing machine market. The regions covered in the washing machine market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of washing machines are fully automatic, semi-automatic and others. A fully automatic washing machine completes the entire clothes washing cycle without any effort from the user. It will rinse, wash, agitate, and spin dry clothes all on its own. When time is up, the user need only retrieve the washed laundry from the machine's basin, and either place it in an automatic dryer or hang it out. The various products of washing machine include automatic, semi-automatic and dryers that are distributed through E-commerce, retail chains and direct sales. The different technologies of washing machine are top load and front load that are used for residential and commercial applications.
Rapid Urbanization is expected to contribute to the growth of the washing machine market in the forecast period. For instance, according to the data published in September 2021 by the United Nations Department of Economic and Social Affairs, a US-based intergovernmental organization, globally, 4.46 billion people resided in urban areas in 2021. By 2050, this number will increase to 6.68 billion, with 2.22 billion more people living in urban areas. The growth in the urban population coupled with the rise in disposable incomes and affordability among residents of cities will drive the demand for washing machines during the forecast period.
Increasing demand for online on demand laundry services is expected to restrain the market for washing machines in the forecast period. According to a recent study it was revealed that the majority of the millennial populace doesn't want to invest their valuable time in day-to-day household chores such as washing the clothes. In the USA, the revenue of dry cleaning and laundry services is projected to reach $7,660 million by 2022. Therefore, rising disposable income coupled with hectic lifestyle of individuals will lead to an increase in on demand laundry services, thereby limiting the growth of the market for washing machines.
Washing machine manufacturers are increasingly producing energy-efficient products to reduce carbon footprint and enable energy savings for the consumers. The rise of energy-efficient appliances can be attributed to the stringent government regulations on electric home appliances and advances in technology. Energy efficient appliances are designed to utilize minimum energy to complete the required task. Currently, over 80 countries have standards and labels for energy efficient appliances. For example, in the USA, ENERGY STAR certified washing machines use 25% less energy and 33% less water than a standard washing machine.
The countries covered in the washing machine market are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The washing machine market research report is one of a series of new reports from The Business Research Company that provides washing machine market statistics, including washing machine industry global market size, regional shares, competitors with a washing machine market share, detailed washing machine market segments, market trends and opportunities, and any further data you may need to thrive in the washing machine industry. This washing machine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.