The Worldwide Residential Washing Machine Industry is Expected to Reach $73 Billion by 2031

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Dublin, Oct. 07, 2022 (GLOBE NEWSWIRE) -- The "Residential Washing Machine Market By Product Type, By Machine Capacity, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2020-2031" report has been added to ResearchAndMarkets.com's offering.

The global residential washing machine market was valued at $37.4 billion in 2020, and is projected to reach at $73.0 billion by 2031, growing at a CAGR of 8.3% from 2022 to 2031.

Residential washing machine is a household appliance used to wash laundry. The components of a washing machine include a motor connected to the barrel through a transmission belt that contains the agitator. The spinning of the agitator creates centrifugal force, which helps in the removal of water from the laundry along with dirt. A washing machine is an essential household appliance, as it provides an easy and convenient laundering option. Increase in government initiatives toward rural household development in many developing countries in Asia-Pacific is expected to increase the demand for residential washing machines.

The major factors that drive the global residential washing machine industry include increase in number of working women, thereby contributing to higher disposable income coupled with insufficient time for laundry, and rapid urbanization. In addition, decrease in selling price of the residential washing machine is expected to fuel its demand. However, laundry shops that provide better laundry service compared to washing machine and increase in online laundry services limit the market growth. Technological progress in washing machine technology and innovation has led to better washing machine that saves energy and water consumption, thereby presenting a major opportunity for growth of the global residential washing machine market size.

However, laundry and dry-cleaning services are preferred to eliminate labor-intensive hand washing. Thus, washing machines of high capacity are developed to cater to the growing demands for laundry. Moreover, steam pressing is one of the latest trends in washing machines to make the clothes wrinkle free. Furthermore, the demand of mechanical laundry and dry cleaning is increasing in tune with population growth in towns and cities. In addition, insufficient time for household activities such as washing, owing to increase in female working population has fueled the demand for laundry services. Thus, availability of laundry shops hampers the growth of the washing machine market.

The global residential washing machine market is segmented on the basis of product, machine capacity, distribution channel and region. Based on product, the market is divided into fully automatic, semi-automatic, and dryer. The machine capacity segment includes below 6 kg, between 6 and 8 kg, and 8 kg & above. On the basis of distribution channel, the market is classified into supermarket/hypermarket, specialty stores, department stores, e-commerce and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Major players analyzed in this report are Samsung Group (South Korea), LG Electronics Inc. (South Korea), Siemens AG (Germany), Haier Group Corporation (China), AB Electrolux (Sweden), Whirlpool Corporation (U.S.), Robert Bosch GmbH (Germany), Miele and Cie. KG (Germany), Panasonic Corporation (Japan), and GE Appliances (U.S.).

Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the residential washing machine market, with current trends and future estimations to elucidate the investment pockets.

  • Comprehensive analysis of factors that drive and restrict the market growth is provided.

  • The report provides a quantitative analysis to help the stakeholders to capitalize on prevailing market opportunities.

  • Extensive analysis of different segments facilitates to understand various products of the market.

  • Key players are profiled and their strategies are analyzed thoroughly to predict the competitive outlook of the market.

Key Topics Covered:

CHAPTER 1: INTRODUCTION

CHAPTER 2: EXECUTIVE SUMMARY

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter's five forces analysis
3.4. Top player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
3.6. COVID-19 Impact Analysis on the market

CHAPTER 4: RESIDENTIAL WASHING MACHINE MARKET, BY PRODUCT TYPE
4.1 Overview
4.1.1 Market size and forecast
4.2 Fully Automatic
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market analysis by country
4.3 Semiautomatic
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market analysis by country
4.4 Dryer
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market analysis by country

CHAPTER 5: RESIDENTIAL WASHING MACHINE MARKET, BY MACHINE CAPACITY
5.1 Overview
5.1.1 Market size and forecast
5.2 Below 6 Kg
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market analysis by country
5.3 Between 6-8 Kg
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market analysis by country
5.4 8 Kg And Above
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market analysis by country

CHAPTER 6: RESIDENTIAL WASHING MACHINE MARKET, BY DISTRIBUTION CHANNEL
6.1 Overview
6.1.1 Market size and forecast
6.2 Supermarket And Hypermarket
6.2.1 Key market trends, growth factors and opportunities
6.2.2 Market size and forecast, by region
6.2.3 Market analysis by country
6.3 Specialty Store
6.3.1 Key market trends, growth factors and opportunities
6.3.2 Market size and forecast, by region
6.3.3 Market analysis by country
6.4 Department Store
6.4.1 Key market trends, growth factors and opportunities
6.4.2 Market size and forecast, by region
6.4.3 Market analysis by country
6.5 E-Commerce
6.5.1 Key market trends, growth factors and opportunities
6.5.2 Market size and forecast, by region
6.5.3 Market analysis by country
6.6 Others
6.6.1 Key market trends, growth factors and opportunities
6.6.2 Market size and forecast, by region
6.6.3 Market analysis by country

CHAPTER 7: RESIDENTIAL WASHING MACHINE MARKET, BY REGION

CHAPTER 8: COMPANY LANDSCAPE
8.1. Introduction
8.2. Top winning strategies
8.3. Product Mapping of Top 10 Player
8.4. Competitive Dashboard
8.5. Competitive Heatmap
8.6. Key developments

CHAPTER 9: COMPANY PROFILES
9.1 HAIER GROUP CORPORATION
9.1.1 Company overview
9.1.2 Company snapshot
9.1.3 Operating business segments
9.1.4 Product portfolio
9.1.5 Business performance
9.1.6 Key strategic moves and developments
9.2 LG ELECTRONICS INC
9.2.1 Company overview
9.2.2 Company snapshot
9.2.3 Operating business segments
9.2.4 Product portfolio
9.2.5 Business performance
9.2.6 Key strategic moves and developments
9.3 SIEMENS AG
9.3.1 Company overview
9.3.2 Company snapshot
9.3.3 Operating business segments
9.3.4 Product portfolio
9.3.5 Business performance
9.3.6 Key strategic moves and developments
9.4 WHIRLPOOL CORPORATION
9.4.1 Company overview
9.4.2 Company snapshot
9.4.3 Operating business segments
9.4.4 Product portfolio
9.4.5 Business performance
9.4.6 Key strategic moves and developments
9.5 ROBERT BOSCH GMBH
9.5.1 Company overview
9.5.2 Company snapshot
9.5.3 Operating business segments
9.5.4 Product portfolio
9.5.5 Business performance
9.5.6 Key strategic moves and developments
9.6 SAMSUNG GROUP
9.6.1 Company overview
9.6.2 Company snapshot
9.6.3 Operating business segments
9.6.4 Product portfolio
9.6.5 Business performance
9.6.6 Key strategic moves and developments
9.7 AB ELECTROLUX
9.7.1 Company overview
9.7.2 Company snapshot
9.7.3 Operating business segments
9.7.4 Product portfolio
9.7.5 Business performance
9.7.6 Key strategic moves and developments
9.8 MIELE AND CIE. KG
9.8.1 Company overview
9.8.2 Company snapshot
9.8.3 Operating business segments
9.8.4 Product portfolio
9.8.5 Business performance
9.8.6 Key strategic moves and developments
9.9 PANASONIC CORPORATION
9.9.1 Company overview
9.9.2 Company snapshot
9.9.3 Operating business segments
9.9.4 Product portfolio
9.9.5 Business performance
9.9.6 Key strategic moves and developments
9.10 TOSHIBA CORPORATION
9.10.1 Company overview
9.10.2 Company snapshot
9.10.3 Operating business segments
9.10.4 Product portfolio
9.10.5 Business performance
9.10.6 Key strategic moves and developments

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