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Domestic Laundry Appliances Market to receive overwhelming hike in Revenues by 2015 to 2021
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Asia pacific is one of the prominent markets for growth of domestic laundry appliances. Growing housed hold income level leads to investment over various domestic appliances including laundry appliances. Asia Pacific is expected to witness fastest growth rates in domestic laundry appliances market during forecasted period 2014- 2020. China and India together holds the largest market share in domestic laundry appliances market in Asia Pacific region. Asia pacific holds the largest market share in domestic laundry appliances market. Rising economy level and large population base offers huge market potential for growth of domestic laundry appliances market in Asia Pacific region. According to a report, around 73% of Chinese households had a washing machine in 2010 and this figure is expected to reach around 80% by 2015. This growing trend of washing machines helps in the growth of global laundry appliance market.
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Countries such as Bolivia, Japan, Tanzania, and Vietnam are considered the highest potential markets and it is expected to witness fastest growth rates in global domestic laundry appliances market during forecasted period 2014- 2020. Europe, Germany, Italy, Russia, Turkey and United Kingdom account the major market share for domestic laundry appliances. The global domestic laundry appliances market is expected to grow in a single digit growth rate during forecasted period 2014- 2020.
Some of the major companies operating in global domestic laundry appliances market are Sears Holdings Corp, Whirlpool Corp, GD Midea Holding Co Ltd, Haier Group, Bosch, Al Ghandi Electronics, LG Electronics, Miele & Cie KG, Electrolux, Hitachi Appliances In, Panasonic Corp, Godrej & Boyce Mfg Co Ltd, Manar SA, Fagor Electrodomésticos S Coop, Fisher & Paykel Appliances Limited, BC Hydro and Siemens and BSH Home Appliances Ltd.
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