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Global Dishwashers Market 2024 : Trends, Business Growth And Major Driving Factors
Dishwashers Global Market Report 2024
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According to The Business Research Company's, The dishwashers market size has grown strongly in recent years. It will grow from $81.28 billion in 2023 to $87.28 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to changing household roles, marketing and advertising, smaller living spaces, increasing demand for convenient and time-saving appliances, changing lifestyles and food habits.
The dishwashers market size is expected to see strong growth in the next few years. It will grow to $113.32 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to energy efficiency and sustainability, smart and connected appliances, health and hygiene, customization and aesthetics, demand from foodservice industry. Major trends in the forecast period include compact and drawer dishwashers, quiet operation, third rack design, integrated water heating, water conservation features.
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Market Drivers and Trends:
The increase in number of working populations are expected to increase the demand for dishwashers market. The working population has busy lifestyles, thus have less time to take care of household activities such as cleaning and washing. This arises the need for the convenient household appliances which save time and energy of households. Also due to COVID-19 lockdown, when domestic helps were not available, the demand for dishwashers has witnessed a sales surge in India. The increase in demand is mostly due to lack of time among working professionals during the lockdown period. For instance, according to Office for National Statistics, a-UK based independent producer of official statistics, the employment rate in the UK was expected to be 76.0% from February to April 2023, 0.2 percentage points higher than from November 2022 to January 2023. Therefore, the increase in number of working populations coupled with COVID-19 norms for social distancing has spurred the demand for growth of the dishwashers market during the period.
The household appliance manufacturers are integrating their products with the IoT technology to make customers lives comfortable and convenient. Internet of Things technology is the interconnectivity of physical objects and devices that are integrated with sensors and software that allow them to exchange and collect data. Major technologies enabling smart household appliances include Wi-Fi, Bluetooth Low Energy, micro server and micro-electromechanical systems. For instance, Bosch has created home connect, an app that enables the user to monitor their refrigerators, cookers, washing machines, dishwashers and other devices from anywhere through their smart phones.
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Major Key Players of the Market:
Electrolux AB, LG Electronics Inc., Whirlpool Corporation, Robert Bosch GmbH, AGA Rangemaster, Asko Appliances (part of Gorenje Group), Dacor Inc., Fagor America, Haier Group Corporation, Hoover Candy Group, Miele & Cie. KG, Arçelik A.Ş., Sears Brands (Sears Holdings Corporation), Samsung Group, General Electric (GE), Maytag Corporation, KitchenAid Inc., Sub-Zero Group Inc. (Cove), Frigidaire International, Moen Inc., InSinkErator (Emerson Electric), Viking Range LLC, Jackson WWS Inc., Danby Products Inc., SMEG USA Inc., Champion Industries Inc., Blomberg Appliances, Fisher & Paykel Appliances Ltd., Kenmore Appliances, Sharp Corporation, Thermador, Zanussi Group
Dishwashers Market 2024 Key Insights:
• The dishwashers market size is expected to see strong growth in the next few years. It will grow to $113.32 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
• Rising Working Population And Covid-19 Impact Surge Demand For Dishwashers Market
• IOT Technology Enhancing Household Appliances For Convenience And Connectivity
• Asia-Pacific was the largest region in the dishwashers market in 2023
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