Dublin, March 30, 2021 (GLOBE NEWSWIRE) -- The "Global Washing Machine Market, By Type (Fully Automatic & Semi-Automatic), By Machine Capacity (Below 6 Kg, Between 6-8 Kg and 8 Kg & above), By Technology (Smart Connected Washing Machine & Conventional Washing Machine), By Region, Competition, Forecast & Opportunities, 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Washing Machine Market is projected to witness a CAGR of over 7% during 2020-2026 and to reach around USD32,000 million in value terms by the end of 2026. Characteristics of washing machines, such as washing clothes, drying, heating and others, with numerous technological advancements leading to their higher efficiency, in terms of saving water and electricity, are few of the major factors driving the market during the estimated period. Moreover, the government has taken various initiatives towards the development of rural households in developing countries, which is further expected to increase the demand for washing machines during the projected period.
The Global Washing Machine Market is expected to witness an accountable growth rate, owing to its higher demand in homes for washing laundry, as they save time and energy. A washing machine operates by spinning the laundry at high speed, thereby generating a centrifugal force that removes water from the laundry along with dirt. These appliances use different components needed for an effective process of cleaning and minimize the human intervention requirement.
The price gap between fully automatic and semi-automatic washing machines is getting reduced, assisting brands to increase their fully automatic washing machines portfolio. However, the availability of laundry shops and growth in online laundry services is likely to hinder the growth of the market. Technological and innovative advancements related to washing machines present a major opportunity for manufactures operating in this market. The millennial generation does not want to engage much in everyday household tasks such as clothes washing, which is one of the driving factors of this market. Normally, the capacity range from 3 to 10 are the most demanded washing machines capacity range and considered suitable for homes, which is one of the major driving factors for the growth in below 6 Kg, between 6-8 Kg capacity washing machines.
Based on type, the Global Washing Machine Market is divided into fully automatic and semi-automatic. The fully automatic washing machine segment is expected to register the highest CAGR during the forecast period, owing to the growth in urbanization and washing machine user-friendly features such as steam, Wifi and NFC (Near Field Communication technology). According to the latest trend, manufacturers are focusing on the development and manufacture of some energy-efficient washing machines due to different energy labels and energy efficiency policies.
Some of the leading players in the Global Washing Machine Market are Whirlpool Corporation, LG Electronics, AB Electrolux, Midea Group Co. Ltd., Panasonic Corporation, among others.
Years considered for this report:
Historical Years: 2016-2020
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
To analyze historical growth in the market size of the Global Washing Machine Market from 2016 to 2020.
To estimate and forecast the market size of the Global Washing Machine Market from 2021 to 2026 and growth rate until 2026.
To classify and forecast the Global Washing Machine Market based on type, machine capacity, technology, company and regional distribution.
To identify dominant region or segment in the Global Washing Machine Market.
To identify drivers and challenges for the Global Washing Machine Market.
To examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in the Global Washing Machine Market.
To identify and analyze the profile of leading players operating in the Global Washing Machine Market.
To identify key sustainable strategies adopted by market players in the Global Washing Machine Market.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Washing machine Market
4. Executive Summary
5. Voice of Customer
5.1. Brand Awareness
5.2. Factors Influencing Purchase Decisions
6. Global Washing Machine Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value & Volume
6.2. Market Share & Forecast
6.2.1. By Type (Fully Automatic and Semi-Automatic)
6.2.2. By Machine Capacity (Below 6 Kg, Between 6-8 Kg and 8 Kg & Above)
6.2.3. By Technology (Smart Connected Washing Machine and Conventional Washing Machine)
6.2.4. By Company (2020)
6.2.5. By Region
6.3. Market Map (By Type and Region)
7. Asia-Pacific Washing Machine Market Outlook
7.1. Market Size & Forecast
7.2. Market Share & Forecast
7.3. Asia-Pacific: Country Analysis
8. Europe Washing Machine Market Outlook
8.1. Market Size & Forecast
8.2. Market Share & Forecast
8.3. Europe: Country Analysis
9. North America Washing Machine Market Outlook
9.1. Market Size & Forecast
9.2. Market Share & Forecast
9.3. North America: Country Analysis
10. South America Washing Machine Market Outlook
10.1. Market Size & Forecast
10.2. Market Share & Forecast
10.3. South America: Country Analysis
11. Middle East and Africa Washing Machine Market Outlook
11.1. Market Size & Forecast
11.2. Market Share & Forecast
11.3. MEA: Country Analysis
12. Market Dynamics
13. Market Trends & Developments
14. Competitive Landscape
14.1. Whirlpool Corporation
14.2. LG Electronics
14.3. Midea Group Co. Ltd.
14.4. Panasonic Corporation
14.5. AB Electrolux
14.6. Samsung Electronics Co. Ltd.
14.7. Arcelik A.S
14.8. GE Appliances
14.9. Hitachi Chemical Co. Ltd.
14.10. Robert Bosch GMBH
15. Strategic Recommendations
16. About the Publisher & Disclaimer
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