Washing Machine Market is expected to reach US$32 billion at a CAGR of 3 % during forecast year. A washing machine is an appliance which is used to washcloths and water is the main medium of a washing machine.
Increasing demand for automation in household appliances drive the washing machine market. Technological advancement and innovation such as smartly connected washing machine, rapid urbanization and need to save water are growing the demand for washing machine. A high initial cost of a washing machine is hampering the washing machine market.
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Washing Machine Market
Washing machine market is segmented by product, technology, application, and region. Based on the product washing machine market is fragmented into fully automatic, semi-automatic, dryers. The fully automatic segment is anticipated to increase in the near future. A rise in demand for automation in household appliances will boost the demand for automated washing machine.
By technology, washing machine market is divided into smart connected and conventional washing machine. A smartly connected washing machine is expected to reach a high rate of CAGR in forecast year. Smartly connected washing machine offers efficient use of water and electricity during the washing process. Technology advancement in smartly connected washing machine provides real-time information of washing stages by remote sensing to the user. By using of Wi-Fi connectivity user can easily operate a washing machine from a remote location
A washing machine is used in the residential application and commercial application. The residential application holds the high growth in the washing machine market owing to increasing demand for fully automatic washing machine and semi-automatic washing machine in home appliances by expanded middle-class population drive the growth in washing machine market. Furthermore, a Commercial application is expected to reach at high CAGR in washing machine market owing to an increasing trend of laundry services by hospitals. Advancement services such as coin laundry and online laundry services are boosting the demand for commercial washing machine services.
In terms of region, the washing machine market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East Africa. Asia-Pacific region is accounted to increase the washing machine market in forecast year. Increasing demand for a fully automatic machine and smartly connected washing machine by developing economies such as India, China and Vietnam drive the growth in washing machine market. Expansion of the middle-class population by developing economies are growing the demand for use of washing machine.
Key players profiled and analyzed in the report
Whirlpool Corporation, Samsung Electronics Co. Ltd., LG Electronics Inc. ,Electrolux AB Siemens AG, Haier Group Corporation, AB Electrolux, Robert Bosch ,Miele ,Panasonic Corporation, GE Appliances, AEG ,Tecnik ,IFB ,Baumatic ,Kenmore Maytag ,Zanussi ,Sharp Corporation ,Candy ,Hoover Company ,ASKO ,Dyson ,Gorenje, Beko and Amana
The scope of the report for Washing Machine Market:
Global Washing Machine Market By-product
Global Washing Machine Market By Technology
• Smart connected
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Global Washing Machine Market By Application
Global Washing Machine Market By Region
• North America
• Latin America
• Middle East Africa
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Key players in the Washing Machine Market
• Whirlpool Corporation
• Samsung Electronics Co. Ltd.
• LG Electronics Inc.
• Electrolux AB
• Siemens AG
• Haier Group Corporation
• AB Electrolux
• Robert Bosch GmbH
• Panasonic Corporation
• GE Appliances
• Sharp Corporation
• Hoover Company