Market Trends of Portable Washing Machines Industry
Increase in Urbanization is Driving the Market Growth
The demand for portable washing machines is mostly in urban areas, which account for a major percentage of sales. People in cities use washing machines differently than people in rural areas. Most people in cities live in small places like apartments, which don't have enough space for a big washing machine and dryer. Even if a washing machine and dryer are present in the building, the process of waiting for them to open, saving up money, and transporting the loads from the laundry room can take a considerable amount of time. In developing regions, the usage of washing machines is growing rapidly. This is due to increasing family incomes, advances in technology, an increase in nuclear families, increasing personnel expenses, a preference for working women, and access to consumer credit are all contributing factors to this growth. Rapid urbanization and changes in lifestyle are likely to drive the demand of portable washing machines over the forecast period, as the global population is increasingly composed of high-income individuals.
Asia Pacific Region is Dominant in the Portable Washing Machine Market
Of all the regions in the world, Asia Pacific is expected to account for the largest market share in the world of portable washing machines. This is due to the fact that portable washing machines have become popular due to their compatibility and user-friendliness. The growing young population and rise in disposable income are mainly driving the growth of the market. High disposable income leads to a high level of investments and better standards of living. In addition, the emerging economies in this region, the rapid urbanization and the growing middle-class are expected to contribute to the growth of the portable washing machine market in this region. In North America, the market is expected to grow at a significant rate over the next few years. This is because of the increasing awareness of products that are certified to meet the requirements of the Environmental, Economic, and Social Council (EESC).
