According to the latest report by IMARC Group, titled “Residential Washing Machine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global residential washing machine market forecast .The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global residential washing machine market size reached US$ 39.38 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 51.91 Billion by 2027, exhibiting a growth rate (CAGR) of 4.50% during 2022-2027.
Washing machines are household appliances commonly used to wash laundry with detergent. They include semi and fully automatic machines that help with washing, rinsing, and drying without requiring manual control of different processes. They save time and are easier to clean, operate, and repair than other electrical devices. At present, residential washing machines are available in numerous sizes and styles based on the budget, lifestyle, and size of the customer’s house.
The global residential washing machine market is primarily driven by rising product adoption due to continuous improvements in rural electrification. Additionally, several favorable initiatives taken by governments of numerous countries to develop rural households are positively influencing the market growth.
Moreover, the rising demand for residential washing machines due to the hectic lifestyles of individuals and less time for laundry coupled with enhanced comfort levels and convenience offered by them is another major growth-inducing factor. Furthermore, several key players are investing in research and development (R&D) activities to launch innovative product variants that are highly efficient in saving water and electricity, thereby contributing to market growth. Other factors, including the rising affordability of washing machines, inflating consumer disposable incomes, rapid expansion in the e-commerce sector, and continual technological advancements, are also anticipated to propel the market growth.
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Who Are The Key Players/Companies In The Global Residential Washing Machine Market?
AIQ Synertial Ltd., Codamotion-Charnwood Dynamics Ltd., Motion Analysis Corporation, Noraxon USA Inc., Northern Digital Inc, OptiTrack (NaturalPoint Inc.), PhaseSpace Inc., Phoenix Technologies Inc., Qualisys AB, Vicon Motion Systems Ltd. and Xsens Technologies BV.
The report has segmented the market into the following categories:
Breakup by Product:
· Fully Automatic
Breakup by Technology:
· Top Load
· Front Load
Breakup by Machine Capacity:
· Below 6 Kg
· 6 to 8 Kg
· 8 Kg and Above
Breakup by Distribution Channel:
· Supermarkets and Hypermarkets
· Specialty Stores
· Department Stores
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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