In 2020, the worldwide market for washing machines attained a notably strong value and is projected to achieve a double-digit compound annual growth rate (CAGR) in terms of revenue over the forecast period. The main drivers of revenue growth in the market include the expanding use of electronic home appliances due to swift urbanization, stable economic conditions, and industrial expansion, as well as a rising demand for washing machines in both residential and commercial sectors. The escalating population, increase in disposable incomes, and greater expenditure on convenient home electronic devices are the primary factors contributing to the growing demand for washing machines, which is expected to fuel global market growth in the future
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Top Profiled Companies in the Global Residential Washing Machine Market Report:
Whirlpool Corporation, Alliance Laundry Systems LLC, Panasonic Corporation, SAMSUNG, Robert Bosch GmbH, Haier Group Corporation, Electrolux AB, Girbau North America, GE Appliances, LG Electronics, AEG, Tecnik, IFB, Baumatic, Kenmore, Fisher & Paykel, Maytag, Zanussi, Sharp Corporation, Hoover Company, ASKO, Dyson, Gorenje, Beko, Amana, Hisense Co. Ltd, Hitachi, Ltd, BSH Hausgeräte GmbH, Midea Group, Godrej, Miele & Cie. KG.
Major Driving Factors for Residential Washing Machine Market:
The Residential Washing Machine Market is being driven by several factors that are contributing to its growth. Some of the major drivers include the increasing adoption of electronic home appliances, including washing machines, due to rapid urbanization and economic stability, which has led to a rise in disposable incomes and greater spending on convenient home electronic devices. There is also growing demand for washing machines in the residential and commercial sectors due to industrial growth. The rapidly expanding population is another key factor that is driving demand for washing machines. Additionally, the development of advanced washing machines that are energy-efficient, eco-friendly, and equipped with advanced features such as smart connectivity and automation is further boosting the market growth. Finally, the COVID-19 pandemic has led to increased demand for washing machines as people are spending more time at home and have a heightened awareness of hygiene and cleanliness.
Key Regional Markets Covered in the Report:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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Further market segmentation
Type Outlook (Revenue, USD Billion; 2018 – 2028)
- Fully Automatic
- Front-Load
- Top Load
- Semi-Automatic
- Dryers
Technology Outlook (Revenue, USD Billion; 2018 – 2028)
- Smart Connected
- Conventional
Capacity Outlook (Revenue, USD Billion; 2018 – 2028)
- Less than 6 kg
- 1-8 kg
- Above 8 kg
Sales Channel Outlook (Revenue, USD Billion; 2018 – 2028)
- E-commerce
- Retail Chains
- Direct Sales
Application Outlook (Revenue, USD Billion; 2018 – 2028)
- Healthcare
- Hospitality
- Others
End Use Outlook (Revenue, USD Billion; 2018 – 2028)
- Residential
- Commercial
Key Takeaways of the Global Residential Washing Machine Market Report:
· A comprehensive overview of the global Washing Machine industry.
· Accurate market projections in terms of market size, share, and volume.
· Thorough study of the global market dynamics, such as major market revenue growth drivers, opportunities, threats, challenges, restraints, and future growth avenues.
· Deep-dive analysis of the upcoming market trends.
· Qualitative and quantitative analyses of the global Residential Washing Machine Market.
· Elaborate study of the leading regional markets in the global Residential Washing Machine Market.
· Complete overview of the market’s competitive landscape.
· Brief look at the company profiles and portfolios.
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