Washing Machine Market Size to Reach US$ 68.3 Billion, Globally, by 2028 at 4.5% CAGR

IMARC Group's report titled "𝐖𝐚𝐬𝐡𝐢𝐧𝐠 𝐌𝐚𝐜𝐡𝐢𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐆𝐥𝐨𝐛𝐚𝐥 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐓𝐫𝐞𝐧𝐝𝐬, 𝐒𝐡𝐚𝐫𝐞, 𝐒𝐢𝐳𝐞, 𝐆𝐫𝐨𝐰𝐭𝐡, 𝐎𝐩𝐩𝐨𝐫𝐭𝐮𝐧𝐢𝐭𝐲 𝐚𝐧𝐝 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝟐𝟎𝟐𝟑-𝟐𝟎𝟐𝟖" The global washing machine market size reached US$ 51.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 68.3 Billion by 2028, exhibiting a growth rate (CAGR) of 4.5% during 2023-2028.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐟𝐫𝐞𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐜𝐨𝐩𝐲 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐩𝐨𝐫𝐭: https://www.imarcgroup.com/washing-machine-market/requestsample

𝐅𝐚𝐜𝐭𝐨𝐫𝐬 𝐀𝐟𝐟𝐞𝐜𝐭𝐢𝐧𝐠 𝐭𝐡𝐞 𝐆𝐫𝐨𝐰𝐭𝐡 𝐨𝐟 𝐭𝐡𝐞 𝐖𝐚𝐬𝐡𝐢𝐧𝐠 𝐌𝐚𝐜𝐡𝐢𝐧𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

𝐎𝐧𝐠𝐨𝐢𝐧𝐠 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐢𝐜𝐚𝐥 𝐀𝐝𝐯𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭𝐬:

The washing machine industry's growth is significantly influenced by continuous technological advancements. Manufacturers are constantly introducing innovations to cater to consumer demands for more efficient, user-friendly, and feature-rich appliances. For instance, the integration of smart technology allows users to control and monitor their washing machines remotely, making laundry tasks more convenient. Additionally, improvements in energy and water efficiency and the development of advanced washing techniques are contributing to market growth by aligning with consumers' desire for effective and environmentally responsible laundry solutions.

𝐂𝐡𝐚𝐧𝐠𝐢𝐧𝐠 𝐋𝐢𝐟𝐞𝐬𝐭𝐲𝐥𝐞𝐬 𝐚𝐧𝐝 𝐑𝐚𝐩𝐢𝐝 𝐔𝐫𝐛𝐚𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧:

The washing machine industry experiences robust growth due to shifting consumer lifestyles and increasing urbanization. Urban living often translates to smaller living spaces, driving the demand for compact and space-efficient washing machines that fit well in apartments and homes with limited room. Furthermore, the rise of fast-paced lifestyles has escalated the need for time-saving appliances. This, in turn, has accelerated the adoption of washing machine. As people have less time for household chores, the enhanced convenience of automated laundry solutions has augmented the demand for washing machines, thereby propelling the market growth.

𝐑𝐢𝐬𝐢𝐧𝐠 𝐄𝐧𝐯𝐢𝐫𝐨𝐧𝐦𝐞𝐧𝐭𝐚𝐥 𝐂𝐨𝐧𝐜𝐞𝐫𝐧𝐬 𝐚𝐧𝐝 𝐄𝐧𝐞𝐫𝐠𝐲 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲:

The growth of the washing machine industry is primarily driven by the growing environmental concerns and the heightened emphasis on energy efficiency. Governments worldwide are implementing stricter regulations and standards to reduce energy consumption and water waste. This, in turn, has prompted washing machine manufacturers to develop models that meet these eco-friendly criteria. Energy-efficient washing machines also reduce utility bills and align with consumers' desires to reduce their carbon footprint. Furthermore, the ability of market to produce environmentally responsible appliances that appeal to a more conscious consumer base is supporting the growth of the market.

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐎𝐩𝐞𝐫𝐚𝐭𝐢𝐧𝐠 𝐢𝐧 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐖𝐚𝐬𝐡𝐢𝐧𝐠 𝐌𝐚𝐜𝐡𝐢𝐧𝐞 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲:

AB Electrolux
Alliance Laundry Systems LLC
Godrej Group
Haier Group Corporation
IFB Industries Limited
LG Electronics Inc.
MIRC Electronics Limited
Panasonic Corporation
Robert Bosch GmbH
Samsung Electronics Co. Ltd.
Toshiba Corporation
Whirlpool Corporation

𝐄𝐱𝐩𝐥𝐨𝐫𝐞 𝐟𝐮𝐥𝐥 𝐫𝐞𝐩𝐨𝐫𝐭 𝐰𝐢𝐭𝐡 𝐭𝐚𝐛𝐥𝐞 𝐨𝐟 𝐜𝐨𝐧𝐭𝐞𝐧𝐭𝐬: https://www.imarcgroup.com/washing-machine-market

𝐖𝐚𝐬𝐡𝐢𝐧𝐠 𝐌𝐚𝐜𝐡𝐢𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧:

𝐁𝐲 𝐏𝐫𝐨𝐝𝐮𝐜𝐭:

Fully Automatic
Front Load
Top Load
Semi-Automatic
Dryers

Fully automatic represented the leading segment due to its user-friendly operation and efficiency, making it the top choice for consumers.

𝐁𝐲 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲:

Smart Connected
Conventional

Smart connected accounted for the largest market share owing to its remote control and advanced features, meeting modern consumers' demands.

𝐁𝐲 𝐂𝐚𝐩𝐚𝐜𝐢𝐭𝐲:

Below 6 kg
6.1 to 8 kg
Above 8 kg

6.1 to 8 kg represented the largest segment on account of the versatility of these machines, accommodating various laundry needs.

𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧:

Healthcare
Hospitality
Others

On the basis of the application, the market has been divided into healthcare, hospitality, and others.

𝐁𝐲 𝐄𝐧𝐝 𝐔𝐬𝐞:

Commercial
Residential

Commercial held the majority of the market share due to the widespread adoption of washing machines in businesses and laundry facilities.

𝐑𝐞𝐠𝐢𝐨𝐧𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬:

North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa

Asia Pacific's dominance in the washing machine market is attributed to the large consumer base and robust economic growth in the region.

𝐆𝐥𝐨𝐛𝐚𝐥 𝐖𝐚𝐬𝐡𝐢𝐧𝐠 𝐌𝐚𝐜𝐡𝐢𝐧𝐞 𝐌𝐚𝐫𝐤𝐞𝐭 𝐓𝐫𝐞𝐧𝐝𝐬:

Ongoing technological innovation represents the primary factor driving the market growth, with the leading manufacturers continuously enhancing washing machines to offer advanced features and improved efficiency, meeting the demands of modern consumers. Apart from this, changing lifestyles and emerging urbanization trends are fueling the market growth, as urban dwellers seek space-efficient appliances that streamline their busy lives. Furthermore, the escalating environmental consciousness and the rising emphasis on energy efficiency, which compels manufacturers to produce washing machines that align with stricter regulations and consumers' desire to reduce their environmental impact is contributing to market growth.

𝐍𝐨𝐭𝐞: 𝐈𝐟 𝐲𝐨𝐮 𝐧𝐞𝐞𝐝 𝐬𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐢𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 𝐭𝐡𝐚𝐭 𝐢𝐬 𝐧𝐨𝐭 𝐜𝐮𝐫𝐫𝐞𝐧𝐭𝐥𝐲 𝐰𝐢𝐭𝐡𝐢𝐧 𝐭𝐡𝐞 𝐬𝐜𝐨𝐩𝐞 𝐨𝐟 𝐭𝐡𝐞 𝐫𝐞𝐩𝐨𝐫𝐭, 𝐰𝐞 𝐰𝐢𝐥𝐥 𝐩𝐫𝐨𝐯𝐢𝐝𝐞 𝐢𝐭 𝐭𝐨 𝐲𝐨𝐮 𝐚𝐬 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐭𝐡𝐞 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:

IMARC Group

Email: sales@imarcgroup.com

USA: +1-631-791-1145 | Asia: +91-120-433-0800

Address: 134 N 4th St. Brooklyn, NY 11249, USA

Follow us on Twitter: @imarcglobal

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.

IMARCs 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 companys expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

This release was published on openPR.