Residential Washing Machine Market Revenue To Beat $22.55 Billion By 2025 “The global residential washing machine market size is projected to value at USD 22.55 billion by 2025, at a CAGR of 6.1% from 2019 to 2025. The increasing standard of living along with urbanization is anticipated to boost the market growth.”
The Global Residential Washing Machine Market Report offers details on current and future growth trends pertaining to the business besides information on numerous regions across the geographical landscape of the Residential washing machine Market. The study includes global, regional, and country-level market size, shares, growth rate analysis (include the causes of highest and lowest peak industry analysis), product launches, latest trends, the impact of covid19 on worldwide. Residential washing machine Market Research Methodology overview consists of primary and secondary research, company share analysis, model (including Demographic data, Macroeconomic indicators, and Industry indicators i.e. Expenditure, infrastructure, sector growth, and facilities, etc), Research Limitations, and Revenue Based Modelling. Comprehensive analysis of Residential washing machine Market based on current & future analysis depending on historic data also featured in this Report. The global residential washing machine market size is projected to value at USD 22.55 billion by 2025, at a CAGR of 6.1% from 2019 to 2025. The increasing standard of living along with urbanization is anticipated to boost the market growth. Additionally, considerable improvements in electricity infrastructure in emerging economies like Indonesia, China, and India are likely to augment the product demand. The fully automatic washing machines segment is anticipated to witness the fastest growth with a CAGR of 6.3% over the forecast period due to high energy efficiency, less water consumption and drying times, and ease of operation. The key manufacturers such as Whirlpool Corporation; LG Electronics Inc., and Samsung Electronics Co. Ltd. are launching new technologies like the Internet of Things (IoT) to increase their market presence. For example, Samsung Electronics Co. Ltd., in February 2018, made the announcement to launch a smart washing machine incorporated with the Bixby AI interface. The launch of AI in the washing machines bring changes in the market as it will provide higher ease of operation to the customers and thus, propel the market growth in the upcoming years.
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In recent years, the key players have opted for marketing strategies like innovative product launch, mergers & acquisitions, expansion of production capacity, and introduction of the latest technologies to fulfill the rising demand for this product in the region. For example, Godrej Appliances, in June 2018, established its new manufacturing unit at Mohali, India, with a loading capacity of four lakhs to six lakhs each year. Additionally, LG Electronics Inc., in January 2018, introduced ‘Wi-Fi Inverter’ washing machines in Sri Lanka with in-built Wi-Fi technology.
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Further key findings from the report suggest: • Asia Pacific is expected to register the fastest CAGR of 6.4% over the forecast period. • The fully automatic product segment is expected to generate revenue of more than USD 10 billion by 2025. • Washing machines with load capacity 6 to 8 kg is anticipated to be the largest segment with a share exceeding 45% of the overall market throughout the forecast period. • Key players in the residential washing machine market include Samsung Electronics Co. Ltd., Whirlpool Corporation, LG Electronics Inc., AB Electrolux, IFB Industries Ltd., GE Appliances, BSH Home Appliances Group, Haier Group Corporation, Midea Group, and Siemens AG, Panasonic Corporation. Million Insights has segmented the global residential washing machine market on the basis of product, capacity, technology, distribution channel, and region: Residential Washing Machine Product Outlook (Revenue, USD Million, 2015 - 2025) • Fully Automatic • Semi-automatic
Residential Washing Machine Capacity Outlook (Revenue, USD Million, 2015 - 2025) • Below 6 kg • 6 to 8 kg • Above 8kg Residential Washing Machine Technology Outlook (Revenue, USD Million, 2015 - 2025) • Top Load • Front Load Residential Washing Machine Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025) • Offline • Online
Residential Washing Machine Regional Outlook (Revenue, USD Million, 2015 - 2025) • North America • U.S. • Europe • U.K. • Germany • Asia Pacific • China • India • Central & South America • Brazil • Middle East & Africa • South Africa
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