Global Washing Machine Market is valued approximately USD 56.32 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.98% over the forecast period 2023-2030. A washing machine is a home equipment used for washing clothes, linens, and other fabrics. It automates the washing process, which makes it more practical and effective than washing clothes by hand. Typically, washing machines contain a tub or drum that agitates the garments in a solution of water and detergent to remove dirt, stains, and odors from the fabric. They also have various settings and controls to adjust the water temperature, wash cycle duration, and spin speed. The Washing Machine market is expanding because of factors such as rising urbanization, rising development of smart homes across the globe.
Smart homes are becoming increasingly popular as consumers seek to automate and simplify their daily tasks. Washing machines, being an essential appliance in most households, have witnessed a transformation with the integration of smart technologies. According to Statista, in year 2020 there were around 224.05 million smart homes across the world which increased to 307.82 million smart homes in year 2022 and it is projected to reach at 672.57 million smart homes users across the globe. Thus rising development of smart homes is fostering the market growth. In addition, increased usage of IoT technologies in laundry appliances and growth in the rate of infrastructural development activities is creating a lucrative growth to the market However, the high cost of Washing Machine stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Washing Machine Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the dominance of key market players and the region's increasing technological advancement. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as rising residential construction, rising development of smart homes and, geographic expansion of key players.
Major market player included in this report are:
- Whirlpool Corporation
- Samsung Electronics Co., Ltd.
- LG Electronics Inc.
- Electrolux AB
- Haier Smart Home Co., Ltd.
- Godrej Industries Ltd.
- IFB Industries Ltd.
- Panasonic Corporation
- Mirc Electronics Limited
- Bsh Hausgerate GmbH
Recent Developments in the Market:
- In February 2022, Sharp Business Systems (India) Pvt. Ltd. unveiled a new line of top-load washers outfitted with world-class Japanese technologies.
- In December 2022, The Xeros Technology Group joined together with Indian washing machine maker IFB Industries Ltd. to develop a premium range of domestic washing machines for Indian homes and railway systems. The items employ Xeros' special care technology, which enhances the washer's load performance.
Global Washing Machine Market Report Scope:
- Historical Data: 2020 - 2021
- Base Year for Estimation: 2022
- Forecast period: 2023-2030
- Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered: Product, Capacity, Region
- Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
- Fully Automatic (Front Load & Top Load)
- Semi-automatic
- Dryer
By Capacity:
- Below 6 Kg
- 6.1- 8 Kg
- Above 8 Kg
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Washing Machine Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Washing Machine Market, by Product, 2020-2030 (USD Billion)
- 1.2.3. Washing Machine Market, by Capacity, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Washing Machine Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Washing Machine Market Dynamics
- 3.1. Washing Machine Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Rising Growth of Urbanization
- 3.1.1.2. Growing development of smart homes
- 3.1.2. Market Challenges
- 3.1.2.1. High Cost of Washing Machine
- 3.1.3. Market Opportunities
- 3.1.3.1. Increased usage of IoT technologies in laundry appliances
- 3.1.3.2. Growth in the rate of infrastructural development activities
Chapter 4. Global Washing Machine Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Washing Machine Market, by Product
- 5.1. Market Snapshot
- 5.2. Global Washing Machine Market by Product, Performance - Potential Analysis
- 5.3. Global Washing Machine Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
- 5.4. Washing Machine Market, Sub Segment Analysis
- 5.4.1. Fully Automatic (Front Load & Top Load)
- 5.4.2. Semi-automatic
- 5.4.3. Dryer
Chapter 6. Global Washing Machine Market, by Capacity
- 6.1. Market Snapshot
- 6.2. Global Washing Machine Market by Capacity, Performance - Potential Analysis
- 6.3. Global Washing Machine Market Estimates & Forecasts by Capacity 2020-2030 (USD Billion)
- 6.4. Washing Machine Market, Sub Segment Analysis
- 6.4.1. Below 6 Kg
- 6.4.2. 6.1- 8 Kg
- 6.4.3. Above 8 Kg
Chapter 7. Global Washing Machine Market, Regional Analysis
- 7.1. Top Leading Countries
- 7.2. Top Emerging Countries
- 7.3. Washing Machine Market, Regional Market Snapshot
- 7.4. North America Washing Machine Market
- 7.4.1. U.S. Washing Machine Market
- 7.4.1.1. Product breakdown estimates & forecasts, 2020-2030
- 7.4.1.2. Capacity breakdown estimates & forecasts, 2020-2030
- 7.4.2. Canada Washing Machine Market
- 7.5. Europe Washing Machine Market Snapshot
- 7.5.1. U.K. Washing Machine Market
- 7.5.2. Germany Washing Machine Market
- 7.5.3. France Washing Machine Market
- 7.5.4. Spain Washing Machine Market
- 7.5.5. Italy Washing Machine Market
- 7.5.6. Rest of Europe Washing Machine Market
- 7.6. Asia-Pacific Washing Machine Market Snapshot
- 7.6.1. China Washing Machine Market
- 7.6.2. India Washing Machine Market
- 7.6.3. Japan Washing Machine Market
- 7.6.4. Australia Washing Machine Market
- 7.6.5. South Korea Washing Machine Market
- 7.6.6. Rest of Asia Pacific Washing Machine Market
- 7.7. Latin America Washing Machine Market Snapshot
- 7.7.1. Brazil Washing Machine Market
- 7.7.2. Mexico Washing Machine Market
- 7.8. Middle East & Africa Washing Machine Market
- 7.8.1. Saudi Arabia Washing Machine Market
- 7.8.2. South Africa Washing Machine Market
- 7.8.3. Rest of Middle East & Africa Washing Machine Market
Chapter 8. Competitive Intelligence
- 8.1. Key Company SWOT Analysis
- 8.1.1. Company 1
- 8.1.2. Company 2
- 8.1.3. Company 3
- 8.2. Top Market Strategies
- 8.3. Company Profiles
- 8.3.1. Whirlpool Corporation
- 8.3.1.1. Key Information
- 8.3.1.2. Overview
- 8.3.1.3. Financial (Subject to Data Availability)
- 8.3.1.4. Product Summary
- 8.3.1.5. Recent Developments
- 8.3.2. Samsung Electronics Co., Ltd.
- 8.3.3. LG Electronics Inc.
- 8.3.4. Electrolux AB
- 8.3.5. Haier Smart Home Co., Ltd.
- 8.3.6. Godrej Industries Ltd.
- 8.3.7. IFB Industries Ltd.
- 8.3.8. Panasonic Corporation
- 8.3.9. Mirc Electronics Limited
- 8.3.10. Bsh Hausgerate GmbH
Chapter 9. Research Process
- 9.1. Research Process
- 9.1.1. Data Mining
- 9.1.2. Analysis
- 9.1.3. Market Estimation
- 9.1.4. Validation
- 9.1.5. Publishing
- 9.2. Research Attributes
- 9.3. Research Assumption