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, 2026
New York, March 17, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Washing Machine Market, By Type, By Machine Capacity, By Technology, By Region, Competition, Forecast & Opportunities, 2026" - https://www.reportlinker.com/p06036620/?utm_source=GNW
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 machines 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.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distribution channels and presence of all major players across the globe.
The analyst calculated the market size of global washing machine market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Washing machine manufacturers, distributors and other stakeholders
• Potential investors
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to washing machines
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, the global washing machine market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
• Global Washing Machine Market, By Type:
o Fully Automatic
• Global Washing Machine Market, By Machine Capacity:
o Below 6 Kg
o Between 6-8 Kg
o 8 Kg & Above
• Global Washing Machine Market, By Technology:
o Smart Connected Washing Machine
o Conventional Washing Machine
• Global Washing Machine Market, By Region:
o North America
- United States
- United Kingdom
- South Korea
o Middle East & Africa
- South Africa
- Saudi Arabia
o South America
Company Profiles: Detailed analysis of the major companies present in the global washing machine market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06036620/?utm_source=GNW
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