Press release
Household Laundry Equipment Market Report 2024: Strategies And Recent Developments |LG Electronics, Whirlpool Corporation, Haier Corporation, Electrolux AB, Panasonic Corporation
Household Laundry Equipment Market Size
The Business Research Company offers in-depth market insights through Household Laundry Equipment Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
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%. The growth in the forecast period can be attributed to smart and connected appliances, energy efficiency and sustainability, health and hygiene trends, urbanization and space constraints, laundry automation. Major trends in the forecast period include front-load washing machines, washer-dryer combos, smart laundry apps, faster and more efficient cycles, laundry sanitization features.
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Market Segmentation:
The main types of household laundry equipment are washing machines, ironers, dryers, and other household laundry equipment. A washing machine is a machine that is used to wash clothes without applying any physical effort. The technologies used are automatic, semi-automatic/ manual, and others. The household laundry equipment is distributed through direct selling, retail, e-commerce, and other channels.
Major Driver - Rapid Urbanization Drives The Growth Of Household Laundry Equipment 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
Competitive Landscape:
Major companies operating in the household laundry equipment market include LG Electronics, Whirlpool Corporation, Haier Corporation, Electrolux AB, Panasonic Corporation, BSH Home Appliances Group, Miele, Siemens AG, Toshiba Corporation, General Electric Company, Hisense Co. Ltd., Hitachi Ltd, Koninklijke Philips, Hamilton Beach, Groupe SEB, Joy Mangano, Kenmore, HAAN, Conair, Fridja, CUORI ELECTRICAL APPLIANCES, Jiffy Steamer, Sears, Asko, Smeg, Flyco, Samsung, Electrolux, Robert Bosch, Fisher & Paykel, Maytag, Amana, Speed Queen, Indesit Company, Candy Group, Ariston Thermo Group, Beko, Gorenje, Hisense, Sharp Corporation, Vestel, Dexter Laundry, Girbau, Schulthess Maschinen AG, Alliance Laundry Holdings LLC
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Top Trend - Manufacturers Embrace Energy Efficiency To Reduce Carbon Footprint In Household Laundry Equipment
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.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Household Laundry Equipment Market Characteristics
3. Household Laundry Equipment Market Trends And Strategies
4. Household Laundry Equipment Market - Macro Economic Scenario
5. Household Laundry Equipment Market Size And Growth
…..
27. Household Laundry Equipment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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