Global Residential Washing Machine Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

Global Residential Washing Machine Market: Overview

"The Residential Washing Machine Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

Request Covid - 19 Impact

Washing machines are among the most widely used home appliances. Washing machines operate by churning or spinning laundry and help to clean clothes etc. The spin-dry drum spins at high speed, and the centrifugal force aids in throwing out the water in the material, thus enabling users to have almost dry clothes after the process. Various technological advancements in the recent past and advent of more efficient technologies in the recent past are aiding in the development and production of more efficient machines. Better or improved power efficiency, water saving, and lightweight products drive demand and sale of these products.

Global Residential Washing Machine Market: Dynamics

Major factors driving market growth include rising per capita income level among consumers, especially in developing countries such as India and China in Asia Pacific, and improvements in rural electrification infrastructure, growing urbanization, and availability of favorable financial or Equated Monthly Installment (EMI) options on various appliances and products are some of the factors driving growth of the global residential washing machine market. These factors are resulting in easy affordability to purchase washing machines and various other home appliances, and expected to continue over the forecast period.

A major factor expected to hamper the residential washing market growth is a growing preference to get laundry washed. Over the recent past, the trend observed in the market is that the number of commercially operated laundry firms has been increasing exponentially. This trend is more prevalent in developing countries. An increasing number of individuals prefer to use these services owing to a busy or hectic lifestyle and work life, as well as convenience as compared to purchasing and operating a machine at home.

Global Residential Washing Machine Market: Segment Analysis

Among the product segments, the fully-automatic segment is projected to contribute significant growth, owing to the increasing preference of residential users due to less requirement of supervision and other benefits offered by it including energy and water efficiency as well as better stain removal capability as compared to other segments.

Among the capacity segments, the between 6 and 8 kg segment is anticipated to account for significant shares of the global market in revenue. This can be attributed to the increasing demand for these machines owing to its suitability for household application.

Global Residential Washing Machine Market: Region Analysis

North America residential washing machine market is expected to register significant growth over the forecast period. This is attributed to the high adoption of household appliances among the working women and their busy and hectic lifestyle. In addition, rapid adoption of latest and smart appliances among tech-savvy population is additional factor expected to propel the target market growth in this region. Asia Pacific is projected to account for significant revenue shares of residential washing machine market, owing to strong existence of leading home appliance manufacturing companies due to availability of the raw material and labor at lower cost in this region.

Global Residential Washing Machine Market Segmentation:

Segmentation by Product:

• Fully Automatic
• Semi-automatic
• Dryer

Segmentation by Capacity:

• Below 6 Kg
• Between 6 and 8 Kg
• 8 Kg and Above

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa