Laundry Appliances Market Size
| Study Period | 2024 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 3.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Laundry Appliances Market Analysis
The global laundry appliances market is estimated to be valued at USD 80.3 Billion in the current year and is expected to register a CAGR of 3.5% during the forecast period.
Laundry appliances are those devices that are used to clean clothes and textiles. The growth of the laundry appliances market is fuelled by factors such as the rising number of middle-class populations that can afford washing machines and dryers, increased disposable income, changing lifestyles, and an increased standard of living. A growing number of working women populations is also acting as a growth driver for the laundry appliances market. Trends include innovating to increase efficiency and energy efficiency, as well as water consumption, due to environmental guidelines highlighted by several governments. The smart appliances trend is pervasive through the usage of sensors and other components used in smart technology. This market, dependent on real estate growth, both purchase and rental refurbishing are also innovating for smaller appliances because of different housing arrangements across the world.
The growth of the market can be attributed to a number of factors, including the increasing penetration of smart homes in both emerging and developed regions, the rapid growth and development of the IT infrastructure, changing demographic preferences, and the need to protect the global environment from harmful effluents, including greenhouse gases and toxic waste. With brands catering to the needs of the millennials and Gen-Z generation, there are many opportunities in the market for smart home appliances. From high-end smart lights to cutting-edge AI-enabled smart faucets, the trend is promising for the future.
COVID-19 had a negative impact on washing machine manufacturers' sales. Supply chain disruptions and stopped manufacturing activities had a negative effect on manufacturers' sales, which held the market back. The recovery of the market can be attributed to the shift towards traveling & tourism to increase demand for laundry equipment.
Laundry Appliances Market Trends
Increase in the Number of Working Women Leads to Increase in Demand for Residential Washing Machine
The following factors drive global residential washing machine demand: an increase in the number of women working, an Increase in disposable income combined with a lack of time for laundry, rapid urbanization, a drop in the selling price of residential washing machines, Deterioration of demand due to laundry shops offering better laundry service in comparison to washing machine, Increase of online laundry services, Technological advancement and innovation in washing machine and Better washing machine that conserves energy and water.
Laundry and dry cleaning services are preferred over hand washing because of the labor-intensive nature of hand washing. Hence, high-capacity washing machines are being developed to meet the growing demand for laundry. Steam pressing is another new trend in washing machines that makes clothes wrinkle-free. The demand for mechanical laundry & dry cleaning is growing in tune with the population growth in cities and towns. Lack of time for household chores such as washing has increased due to an increase in the number of women working. The availability of laundry shops is a hindrance to the growth of the washing machine market.
Rising Demand of Washing Machines is Driving the Market
Smart washing machines are becoming increasingly popular due to the growing trend of smart homes. Smart washing machines with integrated features are driving market growth. Smart washing machines can be easily controlled through mobile apps, making them more comfortable to use. Smart washing machines are also driving market growth due to the growing demand to eliminate the need to manually change washing settings. Smart washing machines that can automatically dry, wash, and fold are expected to drive market growth in the coming years.
Industry growth is expected to be driven by the introduction of new technologies, such as ultrasonic technology, to transform water into micron particles that can be used to iron clothes. The integration of IoT into smart washing machines and folding machines, as well as laundry racks, is also expected to contribute to the industry's growth in the coming years.
Semi-automatic washing machines are popular due to their user-friendliness, especially among elderly people, which has increased demand. A large number of consumers prefer to have separate drying machines. Asia Pacific has the largest market share. Washing machines are suitable and easy to use, which is why they are popular in Asia Pacific. Due to people's busy lifestyles, they don't have time to do laundry, which is why the demand for washing machines is increasing. The region's growing economies, rapid urbanization, and growing middle-class population also contribute to the industry's growth.
Laundry Appliances Industry Overview
The report covers major international players operating in the Laundry Appliances Market. In terms of 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.
Laundry Appliances Market Leaders
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Whirlpool Corporation
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Samsung Electronics Co. Ltd
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Panasonic Holdings Corporation
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LG Corporation
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Robert Bosch GmbH
*Disclaimer: Major Players sorted in no particular order
Laundry Appliances Market News
September 2023: LG Electronics introduced the Signature Washer-Dryer, the fusion of a large-capacity drum washing machine and an inverter heat pump dryer. This single product handles both washing and drying. It has a washing capacity of 25 kg and a drying capacity of 13 kg, with a 4 kg mini-wash feature at the bottom.
August 2023: Thomson launched its new range of semi-automatic top-load washing machines in India. The latest lineup includes six new models with 7kg, 7.5 Kg, 8 kg, and 8.5kg capacities. These washing machines that start at Rs 7,590 and go up to Rs 9,999 have been manufactured in India.
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 INSIGHTS AND DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain / Supply Chain Analysis
4.5 Porter's Five Forces Analysis
4.5.1 Bargaining Power of Buyers/Consumers
4.5.2 Bargaining Power of Suppliers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Insights on Technological Innovations in the Market
4.7 Insights on Government Regulation in the Market
4.8 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 Product
5.1.1 Washing Machine
5.1.2 Dryers
5.1.3 Electric Smoothing Irons
5.1.4 Other Products
5.2 Technology
5.2.1 Automatic
5.2.2 Semi-Automatic/ Manual
5.2.3 Other Technologies
5.3 Distribution Channel
5.3.1 Multi-brand Stores
5.3.2 Exclusive Stores
5.3.3 Online
5.3.4 Other Distribution Channels
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia-Pacific
5.4.4 Latin America
5.4.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Whirlpool
6.2.2 Samsung Electronics Co. Ltd.
6.2.3 Panasonic Holdings Corporation
6.2.4 LG Corporation
6.2.5 Robert Bosch GmbH
6.2.6 AB Electrolux
6.2.7 Arcelik A.S.
6.2.8 Haier Group Corporation
6.2.9 IFB Industries Limited
6.2.10 Midea Group
6.2.11 Godrej Group
6.2.12 Miele & Cie KG
6.2.13 Hitachi Appliances Inc.
6.2.14 IFB Industries Limited*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER
Laundry Appliances Industry Segmentation
Home appliances are a wide range of devices, typically powered by electricity, that are primarily used in the domestic environment or for the execution of domestic tasks, such as cooking, cleaning, and preserving cold food. Domestic appliances, also referred to as home appliances, typically include white goods, such as refrigerators, air conditioning systems, washing machines, dryers, dryers, freezers, stoves, and water heaters
The Laundry Appliances Market is Segmented By Product (Washing Machine, Dryers, Electric Smoothing Irons, Other Products), By Technology (Automatic, Semi-Automatic/Manual, and Other Technologies), By Distribution Channel (Multi-brand Stores, Exclusive Stores, Online, and Other Distribution Channels), By Geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa). The report offers market size and forecasts in value (USD) for all the above segments.
| Product | |
| Washing Machine | |
| Dryers | |
| Electric Smoothing Irons | |
| Other Products |
| Technology | |
| Automatic | |
| Semi-Automatic/ Manual | |
| Other Technologies |
| Distribution Channel | |
| Multi-brand Stores | |
| Exclusive Stores | |
| Online | |
| Other Distribution Channels |
| Geography | |
| North America | |
| Europe | |
| Asia-Pacific | |
| Latin America | |
| Middle East and Africa |
Laundry Appliances Market Research FAQs
What is the current Laundry Appliances Market size?
The Laundry Appliances Market is projected to register a CAGR of greater than 3.5% during the forecast period (2024-2029)
Who are the key players in Laundry Appliances Market?
Whirlpool Corporation, Samsung Electronics Co. Ltd, Panasonic Holdings Corporation, LG Corporation and Robert Bosch GmbH are the major companies operating in the Laundry Appliances Market.
Which is the fastest growing region in Laundry Appliances Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Laundry Appliances Market?
In 2024, the Asia Pacific accounts for the largest market share in Laundry Appliances Market.
What years does this Laundry Appliances Market cover?
The report covers the Laundry Appliances Market historical market size for years: . The report also forecasts the Laundry Appliances Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Laundry Appliances Industry Report
Statistics for the 2024 Laundry Appliances market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. 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.
Laundry Appliances Market Report Snapshots
