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Washing Machines Global Market Size, Share, Trends, Growth, Research And Forecast 2023-2032
Washing Machines Market Report
The Business Research Company's Washing Machines Global Market Report 2023 identifies Rapid Urbanization as the major driver for the washing machines market's growth in the forecast period. For instance, according to the data published in September 2021 by the United Nations Department of Economic and Social Affairs, a US-based intergovernmental organization, globally, 4.46 billion people resided in urban areas in 2021. By 2050, this number will increase to 6.68 billion, with 2.22 billion more people living in urban areas. The growth in the urban population coupled with the rise in disposable incomes and affordability among residents of cities will drive the demand for washing machines market during the forecast period.
The global washing machines market size will grow from $66.43 billion in 2022 to $70.38 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global washing machines is expected to grow to $84.54 billion in 2027 at a CAGR of 4.7%
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Major competitors in the washing machines market are Whirlpool Corporation, Panasonic Corporation, Robert Bosch GmbH, Miele, Haier Group Corporation.
A key trend in the washing machines market includes energy-efficient appliances. 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 the minimum amount of 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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The washing machines market is segmented -
•By Type: Fully Automatic, Semi-Automatic, Other Types
•By Product: Automatic, Semi-automatic, Dryers
•By Sales Channel: E-Commerce, Retail Chains, Direct Sales
•By Technology: Top Load, Front Load
•By Application: Residential, Commercial
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the washing machines market.
The Business Research Company's "Global Washing Machines Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Washing Machines Market Include:
1. Washing Machines Market Executive Summary
2. Washing Machines Market Segments
3. Washing Machines Market Size And Washing Machines Market Growth Rate
4. Key Washing Machines Market Trends
5. Major Washing Machines Market Drivers
……
25. Key Mergers And Acquisitions In The Washing Machines Market
26. Top Washing Machines Companies
27. Washing Machines Market Opportunities And Strategies
28. Washing Machines Market, Conclusions And Recommendations
29. Appendix
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