Global residential washing machine market size is forecast to
grow by USD 13.66 billion during 2019-2023 at a CAGR of almost 6% with front
load segment having the largest market share. Smart homes and smart home
technologies, such as smart hubs and Al-enabled smart home controllers, have
captured the interest of consumers. Also, uninterrupted and easy connectivity
to smart appliances is an essential feature that helps consumers perform tasks
remotely. The vendors of household appliances have also considered this growing
trend and featured such technologies in their products. For instance, Whirlpool
offers voice control integration with Alexa and Google Assistant, that helps in
controlling microwaves, ovens, and a combination washer-dryers, and
dishwashers. Thus, integration with these smart tools has consistently
contributed to reducing customer effort and is expected to positively influence
the demand for smart appliances, including residential washing machines.
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As per Technavio, the advent of portable washing machines will
have a positive impact on the market and contribute to its growth significantly
over the forecast period. This global residential washing
machine market 2019-2023 research report also analyzes other
important trends and market drivers that will affect market growth over
2019-2023.
Global residential washing machine market: Advent of portable
washing machines
Portable washing machines have recently emerged as an ideal
solution for laundry washing. These machines are usually smaller in size and can
be transported with ease as they weigh as little as 43 pounds. Also, a majority
of these machines do not require electricity and consume less detergent and are
easy to carry and handy during camping, trekking, and road trips. Moreover, the
advent of new technologies has intensified market competition with the
introduction of pocket washing machines. For instance, in 2015, Haier Group
launched CODO, the world's first pocket washing machine weighing 200g. CODO is
a hand-held machine capable of removing stains in merely 30-120 seconds.
Therefore, such innovations are expected to boost market growth for the
residential washing machine market during the forecast period.
Global residential washing machine market: Segmentation analysis
This market research report segments the global residential
washing machine market by technology (fully-automatic, and semi-automatic), by
product (front load, and top load), by distribution channel (offline, and
online), and geographical regions (APAC, Europe, North America, MEA, and South
America).
The APAC region led the market in 2018, followed by Europe,
North America, MEA and South America respectively. During the forecast period,
the APAC region is expected to maintain its dominance over the global market
and register the highest incremental growth. This can be attributed to the
increasing income of people, which encourages them to spend more on household
appliances.
Some of the key topics covered in the report include:
Market Landscape
·
Market ecosystem
·
Market characteristics
·
Market segmentation analysis
Market Sizing
·
Market definition
·
Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
·
Regional comparison
·
Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
·
Vendors covered
·
Vendor classification
·
Market positioning of vendors
·
Competitive scenario
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