Washing machines have become an integral part of day-to-day life. It is one of the essential electrical appliances for residential and commercial purposes. Though the concept of washing machines dates back to the 18th Century, the market has witnessed constant upgrade in terms of design and functionality over the years. Technological advancements is key to the growth of the washing machine market.
The washing machine market is expected to witness significant growth in the coming years. Increased demand from the residential sector is significantly contributing to the expansion of the overall market across the globe. Over the years, washing clothes and fabrics manually has taken a backseat especially in the residential sector.
Rise of disposable income and increased spending capacity are helping manufacturers in positioning their products to various consumer groups in the global market
Moreover, use of washing machines in laundries has gathered momentum over the past decade. Growing penetration of commercial washing machines in the hospitality industry is also boosting the demand in the global market.
Furthermore, advancement in technology and higher efficiency in terms of saving water and electricity are offering lucrative opportunities in the global washing machine market
One of the latest trends gaining momentum in the global washing machine market is the emergence of smart washing machines. These machines connect to a network via Wi-Fi in the same way that tablets or phones do. Ease of operation and comfortable sliding are some of the major factors leading to increased demand for smart washing machines in the global market.
The global washing machine market can be segmented based on type, technology, capacity, application, distribution channel, and region. In terms of type, the market can be classified into top load, and front load. With various government standards and regulations related to water and energy consumption, the major players have introduced several top load washing machines to compete with front load washers in the market.
Based on technology, the washing machine market can be divided into semi-automatic, fully automatic, and dryer
In terms of capacity, the market can be classified into less than 5 Kg, 5-8 Kg, 8-10 Kg, and more than 10 Kg. Based on application, the washing machine market can be split into residential, commercial, and industrial.
In terms of distribution channel, the market can be bifurcated into offline channel and online channel. Online channel can be sub-divided into company-owned website and e-Commerce website. Offline channel can be sub-divided into hypermarkets & supermarkets, brand stores, and specialty stores.
Based on region, the global washing machine market can be segmented into North America, South America, Asia Pacific, Middle East & Africa, and Europe. Furthermore, the regions are divided into countries such as the U.S., Canada, Germany, France, Italy, the U.K., GCC Countries, China, India, Japan, and Brazil. In terms of value, Asia Pacific is expected to account for the major share in the global washing machine market during the forecast period. Rapid urbanization coupled with rise in disposable income will lead to increased demand in the Asia Pacific region.
The global washing machine market is fragmented in nature, owing to the presence of numerous local and regional players across the world. The market is set to witness entry of new players, owing to increased demand. Major players are focusing on incorporation of advanced technologies, product innovation, mergers & acquisitions, and geographical expansion to remain competitive in the market.
Key players operating in the global washing machine market are Samsung Group, LG Electronics Inc., Siemens AG, Haier Group Corporation, AB Electrolux, Whirlpool Corporation, Robert Bosch GmbH, Miele and Cie. KG, Panasonic Corporation, and GE Appliances