Household Laundry Equipment Market 2020 Analysis by Global Manufacturers - LG Electronics; Whirlpool Corporation; Haier Corporation; Electrolux AB; Panasonic Corporation

The Household Laundry Equipment Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

The global household laundry equipment market was worth $54.8 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 8.4% and reach $75.7 billion by 2023.

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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Household Laundry Equipment Market: LG Electronics; Whirlpool Corporation; Haier Corporation; Electrolux AB; Panasonic Corporation and others.

Industry News:

LAS VEGAS, Jan. 7, 2020 -- At CES�, LG Electronics (LG) unveiled its most advanced innovation in laundry, deploying artificial intelligence to deliver precision washing for optimal results without the guesswork. Winner of a coveted 2020 CES Innovation Award, the new LG ThinQ(TM) front-load washing machine features an Artificial Intelligent Direct Drive(TM) (AI DD) motor along with the company's AI-powered Proactive Customer Care service.

The AI DD washer builds on 20 years of advancements in LG's groundbreaking Direct Drive motor, which delivers both effectiveness and efficiency. LG's new washing machine not only detects the volume and weight of each unique laundry load but also uses AI and advanced sensors to identify fabric types in each load. Using deep learning technology, the washer then compares this information against more than 20 thousand data points related to washer usage to program the optimal wash cycle setting for the best results, improving cleaning and extending the life of garments by 15 percent.

SINGAPORE, October 31, 2017 -- As the leading home appliance brand[1], LG Electronics (LG) has continued to establish its ability to innovate and launch premium solutions that benefit customers, such as the introduction of its successful LG TWINWash(TM) technology. The LG TWINWashTM enables two separate loads to wash and spin simultaneously by combining a full-sized front load washing machine with a mini washer in a hide-away pedestal underneath. With the TWINWash(TM) systems, customers can save time and utility costs when doing laundry.

New Delhi, August 8, 2018: Haier, the global leader in Home Appliances & Consumer Electronics and World's Number 1 brand in Major Appliances for the 9 Consecutive Years* today announced the launch of DUO, the revolutionary Double Drum Top Load washing machine in India.

The new DUO washing machine comes with two drums with capacities of 7 kgs and 2.5 kgs respectively, where both the drums can function simultaneously having two separate kind of loads. The machine is especially designed with this unique feature to address various laundry needs of a single family. For instance, users can now segregate their laundry according to their individual needs, like - whites and colored clothes, innerwear and outerwear, delicate clothes versus regular wear, and much more. In case of families with kids, baby clothes can be segregated from rest of the load and still be washed concurrently. This not only adds to the convenience, but also helps in saving time and energy for users.

Market Overview:

The household laundry equipment market covered in this report is segmented by type into washing machines, ironers, dryers, and others - household laundry equipment. The household laundry equipment market in this report is segmented by technology into automatic, semi-automatic/ manual, and others. The household laundry equipment market in this report is segmented by distribution channel into direct selling, retail, e-commerce, and others.

Rapid Urbanization is expected to contribute to the growth of the household laundry equipment in the forecast period. Globally, the percentage of population living in urban areas is expected to increase from 55% in 2018 and reach 68% by 2050. The growth in the urban population coupled with the rise in disposable incomes and affordability among residents of cities will drive the demand for household laundry equipment.

Increasing demand for online on demand laundry services is expected to restrain the market for household laundry equipment in the forecast period. The on demand laundry services market is expected to be aided by stable economic growth forecast in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global real GDP growth will be 3.7% over 2019 and 2020, and 3.6% from 2021 to 2023. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. For instance, China is forecast to register GDP growth of 6.2% in 2019. Stable economic growth, increasing internet penetration, and 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 household washing machines.

Household laundry equipment 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.

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Regional Analysis For Household Laundry Equipment Market:

For comprehensive understanding of market dynamics, the global Household Laundry Equipment market is analyzed across key geographies namely:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Each of these regions is analyzed on basis of market findings across major countries in these regions for a macro-level understanding of the market.

Household Laundry Equipment Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger and acquisitions along with trending innovation and business policies are reviewed in the report. The report contains basic, secondary and advanced information pertaining to the Market global status and trend, market size, share, growth, trends analysis, segment and forecasts from 2020-2023.

Following are major Table of Content of Household Laundry Equipment Market:

- Global Market Overview, Drivers, Restraints and Opportunities, Segmentation overview
- Global Market competition by top Players
- Analysis by Regions
- Consumption by Regions
- Consumption, By Types, Revenue and Market share by Types
- Consumption, By Applications, Market share (%) and Growth Rate by Applications
- Complete profiling and analysis of Players
- Industrial Chain, Sourcing Strategy and Downstream Buyers
- Marketing Strategy Analysis, Distributors/Traders
- Global Market Effect Factors Analysis
- Global Market Forecast
- Global Market Research Findings and Conclusion, Appendix, methodology and data source

Finally, all aspects of the Global Market are quantitatively as well qualitatively assessed to study the Global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects. The report supplies the international economic competition with the assistance of Porter's Five Forces Analysis and SWOT Analysis.

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