Press release
Washing Machines Market: Exploring Segmentation, Trends, Analysis, and Forecast for 2033 || Samsung Electronics Co Ltd, IFB Industries Ltd., Whirlpool Corporation, LG Electronics Inc., Robert Bosch GmbH
Washing Machines Global Market Report 2024
The Business Research Company presents an extensive market research report on the Washing Machines Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The washing machines market size has grown steadily in recent years. It will grow from $69.78 billion in 2023 to $72.92 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rapid urbanization and rapid technological adoption, and a rise in disposable income.
The washing machines market size is expected to see steady growth in the next few years. It will grow to $83.98 billion in 2028 at a compound annual growth rate (CAGR) of 3.6%. The growth in the forecast period can be attributed to the increasing smart homes, increasing adoption of 5g networks, increasing population growth, and increasing urbanization. Major trends in the forecast period include artificial intelligence (ai) powered washing machines, smart technology, new product launches and innovation, iot in washing machines, strategic collaborations and partnerships to drive innovations, and health-focused washing machines.
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Key Market Players:
Major companies operating in the washing machines market report are Samsung Electronics Co Ltd, IFB Industries Ltd., Whirlpool Corporation, LG Electronics Inc., Robert Bosch GmbH, Midea Group, Panasonic Corporation, Haier Group Corp, Sharp Corporation, Onida, Godrej, BPL, Siemens AG, Little Swan, TCL Corporation, Sanyo Electric, Vega-Systems B.V, Landuwasco B.V., Bsh Hausgeräte Gmbh, Kohlhoff Hygienetechnik Gmbh & Co. Kg, Tps Industriewaschmaschinen, Und Anlagenbau Gmbh, Pulse Monitor, Rusolut Sp. Z O.O, SECTRON, General Electric (GE), Speed Queen, Amana Corporation, Kenmore, Maytag, Miele, Frigidaire, Asko Appliances, Ariston, Brandt Appliance, Crosley Company, Dyson, Electrolux, Fisher and Paykel, Hoover Limited, Magic Chef, H-Buster, Philco, Pioneer, Sony, Philips, AOC, Hisense, Advanced Electronics Company, Leap Technologies FZC, SMARTECH AV, CZ Electronics (Pty) Ltd, Avnet South Africa, TOSHIBA, 3M South Africa, Electrocomp (PTY) Ltd
Market Drivers:
Rapid Urbanization is expected to contribute to the growth of the washing machine market 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.
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https://www.thebusinessresearchcompany.com/report/washing-machines-global-market-report
The washing machines market covered in this report is segmented -
1) By Type: Fully Automatic, Semi-Automatic, Others
2) By Sales Channel: E-Commerce, Retail Chains, Direct Sales
3) By Technology: Top Load, Front Load
4) By Application: Residential, Commercial
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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