Residential Washing Machine Market Size is Projected to Reach US$ 54.2 Billion by 2028

Industry Overview of Residential Washing Machine Market
A residential washing machine is a consumer electronic device used for cleaning clothes and household linen. It comprises a tub, tub guards, balance rings, and pumps, made of steel and plastic and coated with zinc or porcelain that helps increase corrosion resistance properties and extend their operational life. It relies on the principle of centrifugal force and uses high-speed spinning to remove dirt and dust from fabrics. As it is easy to install and operate, helps save time, removes unpleasant odors, and dries clothes quickly, the demand for the residential washing machine is rising across the globe.

How Big Is the Residential Washing Machine Market?
The global residential washing machine market size reached US$ 41.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 54.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.32% during 2023-2028.

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Global Industry Trends and Drivers:
At present, rapid urbanization and inflating income levels of individuals are catalyzing the demand for residential washing machines worldwide. In addition, various initiatives taken by the governing agencies of several countries to support rural electrification are creating a positive market outlook. Besides this, the growing need for automation in household chores on account of the increasing working population with hectic schedules is positively influencing the market. Moreover, the rising focus of key players on introducing product variants that are highly efficient in saving water and electricity is supporting the growth of the market. Besides this, the wide availability of residential washing machines through online distribution channels is strengthening the market growth.

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Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Product:
• Fully Automatic
• Semiautomatic
• Dryer

Breakup by Technology:
• Top Load
• Front Load

Breakup by Machine Capacity:
• Below 6 Kg
• 6 to 8 Kg
• 8 Kg and Above

Breakup by Distribution Channel:
• Supermarkets and Hypermarkets
• Specialty Stores
• Department Stores
• E-Commerce
• Others

Breakup by Region:
• North America
o United States
o Canada
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

The report provides a comprehensive analysis of the industry key players listed below:
The Major Players in the market are Amara Raja Batteries Limited, Delta Electronics Inc., Eaton Corporation plc, Energizer Holdings Inc., FIMER S.p.A., LG Energy Solution Ltd., Luminous Power Technologies Pvt. Ltd. (Schneider Electric SE), Panasonic Corporation, Samsung SDI Co. Ltd., SMA Solar Technology AG and Tesla Inc.

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About US:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.