Household Laundry Equipment Market Report 2024 Latest Insights, Growth Rate, Future Trends And Forecast | Key Players : LG Electronics, Whirlpool Corporation, Haier Corporation, Electrolux AB, Panasonic Corporation

"The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Household Laundry Equipment Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $131.11 billion In 2028 At A CAGR Of 4.9% :

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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Household Laundry Equipment Market Major Segments
The household laundry equipment market covered in this report is segmented -

1) By Type: Washing Machines, Ironers, Dryers, Others - Household Laundry Equipment
2) By Technology: Automatic, Semi-Automatic/ Manual, Other Technologies
3) By Distribution Channel: Direct Selling, Retail, E-commerce, Other Distribution Channels

Key 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

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Prominent 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.

Household Laundry Equipment Market Players
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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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the household laundry equipment market in 2023. Western Europe was the second-largest region in the household laundry equipment market. The regions covered in the household laundry equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Household Laundry Equipment Market Report Structure
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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