Washing Machine Market Growth, Size, Revenue, Trends, Demand, Manufactures and Future Share
Washing Machine Market Size- By Product Type, By Capacity, By Technology, By End User, By Application, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: May-2023 | Report ID: MACH2327 | Pages: 1 - 239 | Formats*: |
| Category : Equipment and Machinery | |||
Washing Machine Market Introduction and Overview
According to SPER Market Research, the Global Washing Machine Market is estimated to reach USD 132.22 billion by 2033 with a CAGR of 7.36%.
The report includes an in-depth analysis of the Global Washing Machine Market, including market size and trends, product mix, distribution channels, and supplier analysis. As the name implies, a washing machine is an electronic device designed for cleaning clothes by removing dirt, eliminating unpleasant odors, and eventually drying them. Washing machines are readily accessible in the market through both online and offline channels and can be obtained in various capacities to suit individual needs.
- March 2023: Sharp Business Systems (India) Pvt. Ltd. introduced a new series of top-loading washing machines in India, featuring state-of-the-art Japanese technology.
- December 2022: Xeros Technology Group has collaborated with IFB Industries Ltd., an Indian washing machine manufacturer, to create a high-end line of home washing machines for Indian households and the Indian railway systems. These products incorporate Xeros' exclusive care technology, improving the washer's load performance.
- August 2020: Panasonic expanded its washing machine lineup by launching 21 new models, which include both fully automatic and top-load washing machines. These machines boast a five-star rating, feature built-in heater technology, and incorporate Stain Master+ to effectively remove bacteria.
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Market Opportunities and Challenges
- Opportunities: The increasing adoption of smart home technology is creating opportunities for the connected smart washing machines, fueling market expansion. These machines, controllable via mobile apps, offer enhanced convenience, driving industry growth. Moreover, the desire to automate settings adjustments is boosting the use of smart washing machines. Innovative models capable of streamlining washing, drying, and folding are expected to further boost market growth. Integration of technologies like ultrasonic water conversion and IoT connectivity is anticipated to drive the industry in the future.
- Challenges: One of the drawbacks of smart washing machines is their substantial initial expense. Other factors constraining market growth include the presence of commercial laundromats and the increasing adoption of online on-demand laundry services. Additionally, the considerable power consumption of most washing machines poses a hurdle to market expansion.
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Market Competitive Landscape
The market exhibits a moderate level of fragmentation, with several major players, including BSH Home Appliances Ltd, Electrolux, GE Appliances, IFB Appliances, LG Electronics Inc., Panasonic Corporation, Samsung Electronics Co. Ltd., Toshiba Lifestyle Products and Services Corporation, Voltas Limited, Whirlpool Corporation, Others. Major industry players are focused on creating innovative products that offer reduced energy consumption, shorter laundry cycle times, improved water efficiency, and other enhancements.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Product Type, By Capacity, By Technology, By End User, By Application, By Distribution Channel |
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America |
| Companies Covered | BSH Home Appliances Ltd, Electrolux, GE Appliances, IFB Appliances, LG Electronics Inc., Panasonic Corporation, Samsung Electronics Co. Ltd., Toshiba Lifestyle Products and Services Corporation, Voltas Limited, Whirlpool Corporation, Others |
COVID-19 Impact on Global Washing Machine Market
The COVID-19 pandemic has resulted in reduced product consumption due to government measures like social distancing, lockdowns, and store occupancy restrictions. Additionally, the global supply chain has faced challenges in transporting goods from manufacturing plants to sales channels due to employee shortages, further hindering growth. The manufacturing sectors, including consumer electronics and roofing, experienced significant setbacks in 2020-2021 due to the COVID-19 pandemic. Workplaces closed, supply chains were disrupted, and transportation was restricted, all of which negatively impacted growth in these industries, including the washing machines market. Many manufacturing units suffered revenue and profit declines due to supply chain disruptions. However, as lockdown restrictions are gradually lifted and with increasing relaxations, there is optimism for a significant recovery in import and export activities.
Key Target Audience
- Households and Individual
- Working Professionals
- Individual living alone
- Retailers of Washing Machine
- Others
Our in-depth analysis of the Washing Machine Market includes the following segments:
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Key Topics Covered in the Report
- Global Washing Machine Market Size (FY’2023-FY’2033)
- Overview of Global Washing Machine Market
- Segmentation of Global Washing Machine Market By Product Type (Dryers, Fully Automatic, Semi-Automatic, Others)
- Segmentation of Global Washing Machine Market By Capacity (Below 6 kg, 6.1 to 8 kg, above 8 kg)
- Segmentation of Global Washing Machine Market By Technology (Conventional, Smart Connected)
- Segmentation of Global Washing Machine Market By End-User (Commercial, Residential)
- Segmentation of Global Washing Machine Market By Application (Healthcare, Hospitality, Others)
- Segmentation of Global Washing Machine Market By Distribution Channel (Direct Sales, E-Commerce, Offline, Online, Retail Chains)
- Expansion Analysis of Global Washing Machine Market
- Problems and Obstacles in Global Washing Machine Market
- Competitive Landscape in the Global Washing Machine Market
- Impact of COVID-19 and Demonetization on Global Washing Machine Market
- Details on Current Investment in Global Washing Machine Market
- Competitive Analysis of Global Washing Machine Market
- Prominent Players in the Global Washing Machine Market
- SWOT Analysis of Global Washing Machine Market
- Global Washing Machine Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Washing Machine Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Washing Machine Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Washing Machine Market
7. Global Washing Machine Market, By Product Type (USD Million)
7.1. Global Washing Machine Market Value Share and Forecast, By Product Type, 2023-20337.2. Dryers7.3. Fully Automatic
7.3.1. Front Load7.3.2. Top Load
7.4. Semi-Automatic7.5. Others
8. Global Washing Machine Market, By Capacity (USD Million)
8.1. Global Washing Machine Market Value Share and Forecast, By Capacity, 2023-20338.2. Below 6 kg8.3. 6.1 to 8 kg8.4. Above 8 kg
9. Global Washing Machine Market, By Technology (USD Million)
9.1. Global Washing Machine Market Value Share and Forecast, By Technology, 2023-20339.2. Conventional9.3. Smart Connected
10. Global Washing Machine Market, By End User (USD Million)
10.1. Global Washing Machine Market Value Share and Forecast, By End User, 2023-203310.2. Commercial10.3. Residential
11. Global Washing Machine Market, By Application (USD Million)
11.1. Global Washing Machine Market Value Share and Forecast, By Application, 2023-203311.2. Healthcare11.3. Hospitality11.4. Others
12. Global Washing Machine Market, By Distribution Channel (USD Million)
12.1. Global Washing Machine Market Value Share and Forecast, By Distribution Channel, 2023-203312.2. Direct Sales12.3. E-Commerce12.4. Offline12.5. Online12.6. Retail Chains
13. Global Washing Machine Market Forecast, 2019-2033 (USD Million)
13.1. Global Washing Machine Market Size and Market Share
14. Global Washing Machine Market, By Product Type, 2019-2033 (USD Million)
14.1. Global Washing Machine Market Size and Market Share By Product Type (2019-2026)14.2. Global Washing Machine Market Size and Market Share By Product Type (2027-2033)
15. Global Washing Machine Market, By Capacity, 2019-2033 (USD Million)
15.1. Global Washing Machine Market Size and Market Share By Capacity (2019-2026)15.2. Global Washing Machine Market Size and Market Share By Capacity (2027-2033)
16. Global Washing Machine Market, By Technology, 2019-2033 (USD Million)
16.1. Global Washing Machine Market Size and Market Share By Technology (2019-2026)16.2. Global Washing Machine Market Size and Market Share By Technology (2027-2033)
17. Global Washing Machine Market, By End User, 2019-2033 (USD Million)
17.1. Global Washing Machine Market Size and Market Share By End User (2019-2026)17.2. Global Washing Machine Market Size and Market Share By End User (2027-2033)
18. Global Washing Machine Market, By Application, 2019-2033 (USD Million)
18.1. Global Washing Machine Market Size and Market Share By Application (2019-2026)18.2. Global Washing Machine Market Size and Market Share By Application (2027-2033)
19. Global Washing Machine Market, By End User, 2019-2033 (USD Million)
19.1. Global Washing Machine Market Size and Market Share By Distribution Channel (2019-2026)19.2. Global Washing Machine Market Size and Market Share By End User (2027-2033)
20. Global Washing Machine Market, By Region, 2019-2033 (USD Million)
20.1. Global Washing Machine Market Size and Market Share By Region (2019-2026)20.2. Global Washing Machine Market Size and Market Share By Region (2027-2033)20.3. Asia-Pacific
20.3.1. Australia20.3.2. China20.3.3. India20.3.4. Japan20.3.5. South Korea20.3.6. Rest of Asia-Pacific
20.4. Europe
20.4.1. France20.4.2. Germany20.4.3. Italy20.4.4. Spain20.4.5. United Kingdom20.4.6. Rest of Europe
20.5. Middle East and Africa
20.5.1. Kingdom of Saudi Arabia20.5.2. United Arab Emirates20.5.3. Rest of Middle East & Africa
20.6. North America
20.6.1. Canada20.6.2. Mexico20.6.3. United States
20.7. Latin America
20.7.1. Argentina20.7.2. Brazil20.7.3. Rest of Latin America
21. Company Profile
21.1. BSH Home Appliances Ltd
21.1.1. Company details21.1.2. Financial outlook21.1.3. Product summary21.1.4. Recent developments
21.2. Electrolux
21.2.1. Company details21.2.2. Financial outlook21.2.3. Product summary21.2.4. Recent developments
21.3. GE Appliances
21.3.1. Company details21.3.2. Financial outlook21.3.3. Product summary21.3.4. Recent developments
21.4. IFB Appliances
21.4.1. Company details21.4.2. Financial outlook21.4.3. Product summary21.4.4. Recent developments
21.5. LG Electronics Inc.
21.5.1. Company details21.5.2. Financial outlook21.5.3. Product summary21.5.4. Recent developments
21.6. Panasonic Corporation
21.6.1. Company details21.6.2. Financial outlook21.6.3. Product summary21.6.4. Recent developments
21.7. Samsung Electronics Co. Ltd.
21.7.1. Company details21.7.2. Financial outlook21.7.3. Product summary21.7.4. Recent developments
21.8. Toshiba Lifestyle Products and Services Corporation
21.8.1. Company details21.8.2. Financial outlook21.8.3. Product summary21.8.4. Recent developments
21.9. Voltas Limited
21.9.1. Company details21.9.2. Financial outlook21.9.3. Product summary21.9.4. Recent developments
21.10. Whirlpool Corporation
21.10.1. Company details21.10.2. Financial outlook21.10.3. Product summary21.10.4. Recent developments
21.11. Others
22. List of Abbreviations
23. Reference Links
24. Conclusion
25. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Washing Machine Market is projected to reach USD 132.22 billion by 2033, growing at a CAGR of 7.36% during the forecast period.
Washing Machine Market grew in market size from 2022. The Market is expected to reach USD 132.22 billion by 2033, at a CAGR of 7.36% during the forecast period.
Washing Machine Market CAGR of 7.36% during the forecast period.
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Washing Machine Market size is USD 132.22 billion from 2023 to 2033.
Washing Machine Market Segment is covered By Product Type, By Capacity, By Technology, By End User, By Application, By Distribution Channel.
The North America region is anticipated to have the highest market share in the Washing Machine Market.
The key players in the market include Companies Covered BSH Home Appliances Ltd, Electrolux, GE Appliances, IFB Appliances, LG Electronics Inc., Panasonic Corporation, Samsung Electronics Co. Ltd., Toshiba Lifestyle Products and Services Corporation, Voltas Limited, Whirlpool Corporation, Others.
Washing machines are now more effective at removing dirt and germs as a result of rising hygiene and cleanliness awareness as well as technological advancements, particularly in urban settings where time is at a premium.
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