Residential Washing Machine Market Size Worth $22.55 Billion By 2025

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Residential Washing Machine Market Size Worth $22.55 Billion By 2025

August 09
12:18 2019
Residential Washing Machine Market Size Worth $22.55 Billion By 2025

Grand View Research, Inc. – Market Research And Consulting
Rising standard of living coupled with the rapid urbanization across the globe is expected to drive the Residential Washing Machine Market growth, Asia Pacific is projected to witness the fastest CAGR of 6.4% from 2019 to 2025

According to report published by Grand View Research, “Residential Washing Machine Market Size, Share & Trends Analysis Report By Product (Fully Automatic, Semi-automatic), By Capacity, By Technology, By Distribution Channel, And Segment Forecasts, 2019 – 2025”.

Rising standard of living coupled with the rapid urbanization across the globe is expected to drive the growth. Moreover, significant improvement of electricity infrastructure in developing countries including India, Indonesia, and China is expected to further fuel the product demand.

The market for fully automatic washing machines is expected to register the fastest CAGR of 6.3% from 2019 to 2025 owing to the ease of operation, high energy efficiency, and less water consumption and drying times. Major manufacturers including Samsung Electronics Co. Ltd.; Whirlpool Corporation; and LG Electronics Inc. are introducing latest technologies such as Internet of Things (IoT) to gain competitive edge in the market. For instance, in February 2018, Samsung Electronics Co. Ltd. announced to introduce smart washing machine featuring the Bixby AI interface. The introduction of Artificial Intelligence (AI) in the washing machines will change the industry as it will offer an extended ease of operation to the consumers and will fuel the market growth over the forecast period.

Over the past few years, the major players have adopted marketing strategies including expansion of production capacity, innovative product launch, introduction of latest technologies, and mergers and acquisitions to cater to the increasing demand for washing machines in the region. For instance, in June 2018, Godrej Appliances, an India based home appliances manufacturer inaugurated its new facility at Mohali, India, with a production capacity of four to six lakh units per year. In addition, in January 2018, LG Electronics Inc. launched ‘Wi-Fi Inverter’ washing machines in Sri Lanka. The product is equipped with Wi-Fi technology and energy-efficient features.

U.S. residential washing machine market size, by product, 2015 - 2025 (USD Billion)

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www.grandviewresearch.com/industry-analysis/residential-washing-machine-market

Further key findings from the report suggest:

  • Asia Pacific is projected to witness the fastest CAGR of 6.4% from 2019 to 2025

  • The revenue from fully automatic product forms is expected to exceed USD 10 billion by the end of 2025

  • Washing machines with 6 to 8 kg load capacity is expected to remain the dominant segment, accounting for more than 45% of the global market share by the end of 2025

  • Key players in the residential washing machine market include Whirlpool Corporation, Samsung Electronics Co. Ltd., LG Electronics Inc., IFB Industries Ltd., AB Electrolux, GE Appliances, Haier Group Corporation, BSH Home Appliances Group, Siemens AG, Panasonic Corporation, and Midea Group

Global residential washing machine market size, by distribution channel, 2018 (%)

Try Free PDF Report Sample of this report, click the link below: 
www.grandviewresearch.com/industry-analysis/residential-washing-machine-market

Grand View Research 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

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About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 26 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 426 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 600 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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