Residential Washing Machine Market Projected to reach $53,193 million, growing at a CAGR of 5.5% to 2023 by Samsung Group, LG Electronics, Siemens

Residential washing machine is a household appliance used to wash laundry. The components of a washing machine include a motor connected to the barrel through a transmission belt that contains the agitator. The spinning of the agitator creates centrifugal force, which helps in the removal of water from the laundry along with dirt. A washing machine is an essential household appliance, as it provides an easy and convenient laundering option. Increase in government initiatives toward rural household development in many developing countries in Asia-Pacific is expected to increase the demand for residential washing machines.
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The major factors that drive the global residential washing machine industry include increase in number of working women, thereby contributing to higher disposable income coupled with insufficient time for laundry, and rapid urbanization. In addition, decrease in selling price of the residential washing machine is expected to fuel the demand. However, laundry shops that provide better laundry service compared to washing machine and increase in online laundry services limit the market growth. Technological progress in washing machine technology and innovation has led to better washing machine which saves energy and water consumption, thereby presenting a major opportunity for growth of global residential washing machine market size.

Global residential washing machine market is segmented on the basis of product, machine capacity, and geography. By product, it is categorized into fully automatic, semi-automatic, and dryer. Based on machine capacity, it is divided into below 6 kg, between 6 and 8 kg, and 8 kg & above. Based on geography, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Major players analyzed in this report are Samsung Group (South Korea), LG Electronics Inc. (South Korea), Siemens AG (Germany), Haier Group Corporation (China), AB Electrolux (Sweden), Whirlpool Corporation (U.S.), Robert Bosch GmbH (Germany), Miele and Cie. KG (Germany), Panasonic Corporation (Japan), and GE Appliances (U.S.).
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Key Benefits For Stakeholders

the study provides an in-depth analysis of the residential washing machine market, with current trends and future estimations to elucidate the investment pockets.
Comprehensive analysis of factors that drive and restrict the market growth is provided.
The report provides a quantitative analysis to help the stakeholders to capitalize on prevailing market opportunities.
Extensive analysis of different segments facilitates to understand various products of the market.
Key players are profiled and their strategies are analyzed thoroughly to predict the competitive outlook of the market.
Table of contents
Chapter 1 introduction
Chapter 2 executive summary
Chapter 3 market overview
Chapter 4 residential washing machine market, by product type
Chapter 5 residential washing machine market, by machine capacity
Chapter 6 residential washing machine market, by geography
Chapter 7. Company profiles

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