China Laundry Appliances Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
China Laundry Appliances Market Analysis
China's Laundry Appliances Market generated a revenue of USD 22.7 billion in the current year, and it is poised to achieve a CAGR of more than 3% for the forecast period.
Post-COVID, there is an increment in revenue generation of laundry appliances in China. Demand for small and large household appliances was impressive in the first six months of 2021. Post 2021, there was a boom in the market due to the resumption of traveling and work-from-office scenarios. In the past few years, due to increasing disposable income and improved standard of living, there has been robust demand for laundry appliances in the Chinese market.
Technological advancement has empowered producers to add innovative features to their products to boost their performance and set themselves apart from competitors. Today, consumers are provided with a variety of choices in the market ranging from color, shape, and design to various after-sales services, credit facilities, and other such benefits, providing comfort and a better experience to the user. The addition of such features will boost the Chinese Laundry Appliances Market.
China Laundry Appliances Market Trends
Increasing Disposable Income is Driving the Market
China's Laundry Appliances Market is witnessing growth owing to increasing disposable income that is leading to the purchase of laundry appliances. Increasing urbanization, changing the population's lifestyle, and disposable income are key factors expected to support the market's growth. Growth in the population living in urban areas results in increased levels of disposable income, making these appliances affordable.
The rise in per capita income in the country, which has increased disposable income, has led to an increase in consumer spending, which acts as a major driving force. Appliances like these are making life easier for customers, increasing the demand for these products.
Washing Machine Segment is Driving the Market
The increasing demand for washing machines is expected to provide an impetus to the industry's growth. The increasing demand for energy-efficient devices is driving washing machine demand in China.
The introduction of next-generation washing machines utilizing technology for efficient electricity and water is expected to impact the demand for these products positively. Technological and innovative advancement related to washing machines presents a major opportunity for manufacturers operating in this market. The demand for washing machines is witnessing a continuous rise, owing to less availability of time for laundry by an increasing number of individuals due to their hectic lifestyles.
China Laundry Appliances Industry Overview
The report covers major international players operating in the Chinese laundry appliances market. Regarding market share, some of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and tapping new markets. Some major players include Haier, LG Electronics, Bosch, Samsung Electronics, and Midea.
China Laundry Appliances Market Leaders
-
Haier
-
LG Electronics
-
Bosch
-
Samsung Electronics
-
Midea
*Disclaimer: Major Players sorted in no particular order
China Laundry Appliances Market News
- Jun 2023: LG introduced a smart top-load washer with TurboWash3D Technology. This 5.5-cubic-foot LG top-load washer is a washing machine. This washing machine can do a full load of laundry in 29 minutes. It has Wi-Fi connectivity, allowing customers to remotely pause, start, and pick a cycle using their smartphone.
- Jun 2023: Samsung launched its smart top-load washer with extra-large capacity and super-fast wash. This washer has a 5.5 cubic-foot capacity. It is capable of washing eight pounds of clothing in just 28 minutes. Customers can pre-treat filthy or highly discolored garments using the built-in water tap and scrub things within the washer without the need for a laundry room sink.
China Laundry Appliances Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Urbanization in China is Enhancing the Market Growth
4.3 Market Restraints
4.3.1 High Labor Cost Impacting the Market
4.4 Market Opportunities
4.4.1 Technological Advancements in Laundry Machines Sector Expected to Boost the Market
4.5 Value Chain / Supply Chain Analysis
4.6 Porter's Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
4.7 Insights into the Impact of Technology and Innovation in the Market
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Freestanding
5.1.2 Built-in
5.2 By Product
5.2.1 Washing Machine
5.2.2 Dryers
5.2.3 Electric Smoothing Irons
5.2.4 Other Products
5.3 By Technology
5.3.1 Automatic
5.3.2 Semi-Automatic/ Manual
5.3.3 Other Technologies
5.4 By Distribution Channel
5.4.1 Supermarkets and Hypermarkets
5.4.2 Specialty Stores
5.4.3 Online
5.4.4 Other Distribution Channels
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Alliance Laundry Systems
6.2.2 Bosch
6.2.3 Electrolux
6.2.4 GD Midea Holding Co. Ltd
6.2.5 Haier Group
6.2.6 LG Electronics
6.2.7 Miele & Cie KG
6.2.8 Panasonic Corp.
6.2.9 Samsung
6.2.10 Whirlpool*
- *List Not Exhaustive
7. MARKET FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
China Laundry Appliances Industry Segmentation
A laundry appliance is a machine used for cleaning and rinsing textiles using water but is not limited to washing only. It can also be used for drying purposes. A complete background analysis of the Chinese laundry appliances market, including emerging market trends by segments, significant changes in the market dynamics, and the market overview, is covered in the report.
China's Laundry Appliances Market is segmented by Type (Freestanding and Built-in), Product (Washing Machines, Dryers, Electric Smoothing Irons, and Other Products), Technology (Automatic, Semi-Automatic/ Manual, and Other Technologies), and Distribution Channel (Supermarkets and Hypermarkets, Specialty Stores, Online, and Other Distribution Channels). The report offers the market size in value terms in USD for all the abovementioned segments.
| By Type | |
| Freestanding | |
| Built-in |
| By Product | |
| Washing Machine | |
| Dryers | |
| Electric Smoothing Irons | |
| Other Products |
| By Technology | |
| Automatic | |
| Semi-Automatic/ Manual | |
| Other Technologies |
| By Distribution Channel | |
| Supermarkets and Hypermarkets | |
| Specialty Stores | |
| Online | |
| Other Distribution Channels |
China Laundry Appliances Market Research FAQs
What is the current China Laundry Appliances Market size?
The China Laundry Appliances Market is projected to register a CAGR of greater than 3% during the forecast period (2024-2029)
Who are the key players in China Laundry Appliances Market?
Haier, LG Electronics, Bosch, Samsung Electronics and Midea are the major companies operating in the China Laundry Appliances Market.
What years does this China Laundry Appliances Market cover?
The report covers the China Laundry Appliances Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the China Laundry Appliances Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
China Laundry Appliances Industry Report
Statistics for the 2024 China Laundry Appliances market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. China Laundry Appliances analysis includes a market forecast outlook 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
