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Household Laundry Equipment Market Report 2024-2033: Market Size, Growth Drivers And Key Trends
The Business Research Company's Household Laundry Equipment Global Market Report 2023 identifies Urbanization as the major driver for the Household Laundry Equipment market's growth in the forecast period. Rapid Urbanization Is Expected To Contribute To The Growth Of Household Laundry Equipment In The Forecast Period. For Instance, In April 2022, According To The World Economic Forum, A Switzerland-Based Independent International Organization, More Than 4.3 Billion People, Or 55% Of The World's Population, Lived In Urban Settings, And The Number Is Expected To Rise To 80% 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.
The household laundry equipment market size has grown strongly in recent years. It will grow from $101.96 billion in 2023 to $108.11 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to electrification of households, changing consumer lifestyles, urbanization and smaller living spaces, increase in the number of nuclear families worldwide, increasing awareness of energy conservation.
The household laundry equipment market size is expected to see steady growth in the next few years. It will grow to $131.11 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%.
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Major competitors in the Household Laundry Equipment market are LG Electronics, Whirlpool Corporation, Haier Corporation, Electrolux AB, Panasonic Corporation, BSH Home Appliances Group.
A key trend in the Household Laundry Equipment market includes technological advancement. Household laundry equipment manufacturers are increasingly producing energy-efficient products to reduce carbon footprints and enable energy savings for consumers. The rise of energy-efficient appliances can be attributed to 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 Household Laundry Equipment market is segmented -
• By Type: By Type: Washing Machines, Ironers, Dryers, Others - Household Laundry Equipment
• By Technology: Automatic, Semi-Automatic/ Manual, Other Technologies
• By Distribution Channel: Direct Selling, Retail, E-commerce, Other Distribution Channels
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Household Laundry Equipment market.
The Business Research Company's "Global Household Laundry Equipment 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 Household Laundry Equipment Market Include:
1. Household Laundry Equipment Market Executive Summary
2. Household Laundry Equipment Market Segments
3. Household Laundry Equipment Market Size And Household Laundry Equipment Market Growth Rate
4. Key Household Laundry Equipment Market Trends
5. Major Household Laundry Equipment Market Drivers
……
25. Key Mergers And Acquisitions In The Household Laundry Equipment Market
26. Top Household Laundry Equipment Companies
27. Household Laundry Equipment Market Opportunities And Strategies
28. Household Laundry Equipment Market, Conclusions And Recommendations
29. Appendix
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