Global Washing Machine Market Assessment, By Mechanism [Top-load, Front-load], By Type [Fully Automatic, Semi-automatic, Washer Only, Dryer Only], By Technology [Non-Smart Washing Machine, Smart Connected Washing Machine], By End-user [Residential, Commercial], By Capacity [5 kg -7 kg, 7 kg-10 kg, 10 kg and Above], , By Distribution Channel [Offline, Online], By Region, Opportunities and Forecast, 2017-2031F

Global washing machine market is projected to witness a CAGR of 4.95% during the forecast period 2024-2031, growing from USD 57.65 billion in 2023 to USD 84.85 billion in 2031. Factors such as rapid urbanization and a gradual shift toward modern lifestyles have increased the demand for advanced and modern home appliances such as washing machines. With people migrating to different cities and demanding convenient and cost-efficient washing machines that fit into a smaller space, the market size of washing machines is expected to increase. The increasing consumer awareness of the benefits of machine washing, such as better cleaning of tough stains, time efficiency, and bulk cleaning, have fostered the growth in the demand for washing machines.

Also, the market is witnessing a growth of commercial washing machines due to consumers’ increasing dependence on commercial laundry services such as laundromats and dry cleaning services. As per the estimates of the U.S. Bureau of Labor Statistics, in May 2023, 185,000 people were employed in laundry and dry cleaning services in the United States.

Smart connected washing machines are gaining relevance in the market due to their built-in features. For instance, they are fitted with self-diagnostic and maintenance alerts, which makes it easier for consumers to maintain them. Such machines are capable of detecting possible malfunction at an early stage, thus warning the user about any malfunction, reducing the possibility of a breakdown, and increasing the life expectancy of the machine. Consumers appreciate this proactive maintenance approach that avoids expensive repairs and reduces downtime.

Consumers prefer washing machines that offer ease of use. For instance, in fully automatic machines, the user are required to load the laundry, add detergent, select the program they wish to use, and start the machine. Moreover, semi-automatic machines are characterized by manual filling and draining of water, transferring clothes between washing and spinning tubs, and many other tasks associated with more hands-on management of laundry, which is driving the market growth for fully automatic washing machines.

Energy Efficient Washing Machines to Gain Popularity Among the Consumers

Energy-efficient washing machines are increasingly preferred by consumers for several significant reasons. Energy-efficient washing machines reduce electricity and water usage significantly, making them economical, as they lead to a reduction through directly reduced utility bills.

With the huge awareness about environmental degradation, people turn more toward those products that add less to the ecological footprint. Energy-efficient washing machines run on less energy, hence reducing their greenhouse effect. In addition, they tend to consume less water. Thus, appeals to environmentally conscious buyers with a greater preference for energy-efficient appliances.

Against the backdrop of climate change, governments across the globe have instituted a good number of rigid energy-efficient standards and regulations. Washing machines that either meet or go beyond these standards are usually qualified with specific energy efficiency ratings, which could be used more effectively in attracting consumers. Moreover, some governments give incentives through rebates and tax credits toward buying energy-efficient appliances, further supporting the market demand. For instance, in April 2024, Samsung Electronics Co., Ltd. launched a product line of washing machines in the United Kingdom. The range was launched with 4 product series, offering high energy efficiency washing machines which are 10%, 20%, 30%, and 40% more energy-efficient than a standard A-rated model. It incorporates advanced AI features, such as AI Wash, AI Ecobubble, and AI Energy Mode.

Built-in Intelligence to Drive the Market Growth

Washing machines with built-in intelligence are gaining popularity among consumers due to their high-tech features and efficiency. The intelligent washing machines are available with features such as load sensing, line fabric detection, and auto-dozing of detergent. It senses the characteristics of clothes in a particular cycle and controls the wash to get the best cleaning while protecting the fabrics. The accuracy and care provided by the machines during the wash appeal to consumers and lead to better laundry results. For instance, in January 2024, LG Electronics U.S.A. Inc. launched the latest WashCombo All-in-One Washer and Dryer. The washer incorporates built-in intelligence which eases the washing process. These built-in sensors use AI technology to detect the texture of the fabric, load size, and soil levels and then select the correct wash or dry motions, temperatures, and other programs for advanced fabric care and convenient washing.

Most smart washing machines are remotely controllable and monitorable with smartphone apps, offering convenience to consumers as they can start, stop, or even schedule wash cycles from any distance. Remote access helps busy consumers and families to have flexibility and save time.

As smart home technology becomes more pervasive, there is a great search for appliances that can integrate flawlessly into the installed systems. Intelligent washing machines can connect to other smart gadgets, such as voice assistants and home automation systems, to deliver a seamless, centralized smart home user experience.

Fully Automatic Washing Machine to Dominate the Market

Consumers are more drawn to fully automatic rather than semi-automatic machines for several reasons. Fully automatic washing machines automate the process of washing clothes through a cycle of washing, rinsing, and spinning in which no manual interventions are required. This provide convenience and save time and efforts to do other work while the laundry is done.

Fully automatic washing machines consume less energy and water than their semi-automatic counterparts. They are fitted with sensors that determine the ideal quantity of water and detergent to be used, avoiding wastage and saving on utility bills. Besides, fully automatic machines generally have better control of washing parameters, they ensure a better cleaning performance with less use of resources.

Fully automatic washing machines are equipped with varied advanced features that add to the washing experience of consumers. These range from different programs for washing various textiles or temperature control and delayed start options to smart connectivity. This gives users the ability to adjust their laundry cycles to suit specific needs, hence greater flexibility and better care for clothes. For instance, in May 2022, Haier Group Corporation launched a next-generation front and top-load fully automatic IoT-enabled washing machine series, 959 series. The washing machine incorporates intelligent features such as anti-bacterial technology, PuriStream, and an AI dynamic balance system.

Asia-Pacific to be the Fastest Growing Region

Asia-Pacific is exhibiting exponential growth due to increasing urbanization and changing consumer lifestyles. The prominent trend driving the growth is a surge in demand for smart washing machines equipped with advanced technologies such as IoT, AI, and machine learning. These machines have features such as remote control, energy efficiency, and customized wash cycles that would be quite tempting to tech-savvy individuals.

Another growth opportunity in the region is the growing demand for front-load washing machines with superior cleaning performance and higher water efficiency than their top-load counterparts. This feature is even better with compact size and modern design, which resonates more with urban living spaces common in many Asia-Pacific countries. In October 2023, TCL Electronics launched a new range of fully automatic and semi-automatic washing machines made in India. These front-load and top-load washing machines incorporate smart features to cater to the needs of Indian consumers.

Moreover, the increasing middle class and living standards are improving demand for high-end and multi-functional washing machines. Consumers are willing to spend on quality appliances that provide convenience.

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Future Market Scenario (2024 – 2031F)

The global washing machine market is growing rapidly and is expected to grow in the forecast period as key players and other manufacturers are introducing smart washing machines with sleek designs that can fit into smaller spaces. These full-sized washing machines offer all the features for smaller homes with limited spaces. For instance, in June 2024, Bosch, a brand of BSH Hausgeräte GmbH, announced the launch of compact washers and dryers for users who seek full-size washing machines for smaller spaces.

Report Scope

“Washing Machine Market Assessment, Opportunities and Forecast, 2017-2031F”, is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of global washing machine market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry mentioning their respective market share, business model, competitive intelligence, etc.

Report Attribute	Details
Base Year of the Analysis	2023
Historical Period	2017-2022
Forecast Period	2024-2031
Projected Growth Rate	CAGR of 4.95% between 2024 and 2031
Revenue Forecast in 2031	USD 84.85 billion
Segments Covered	Mechanism, Type, Technology, End-user, Capacity, , Distribution Channel
Regions Covered	North America, Europe, South America, Asia-Pacific, Middle East and Africa
Key Companies Profile	Whirlpool Corporation, LG Electronics U.S.A. Inc., Panasonic Holdings Corporation, Samsung Electronics Co., Ltd., IFB Industries Ltd., Toshiba Lifestyle Products and Services Corporation, BSH Hausgeräte GmbH (Bosch), Electrolux Home Products, Inc., Haier Group Corporation, Godrej & Boyce Manufacturing Company Limited
Customization Scope	15% free report customization with purchase
Pricing and Purchase Options	Avail the customized purchase options to fulfill your precise research needs
Delivery Format	PDF and Excel through email (subject to the license purchased)

In the report, global washing machine market has been segmented into the following categories: 

·         By Mechanism

o   Top-load

o   Front-load

·         By Type

o   Fully Automatic

o   Semi-automatic

o   Washer Only

o   Dryer Only

·         By Technology

o   Non-Smart Washing Machine

o   Smart Connected Washing Machine

·         By End-user

o   Residential

o   Commercial

§  Hotels

§  Dry Cleaners

§  Laundromats

§  Others

·         By Capacity

o   5 kg -7 kg

o   7 kg-10 kg

o   10 kg and Above

·         By Distribution Channel

o   Offline

§  Multi-Brand Stores

§  Exclusive Stores/Specialty Stores

§  Hypermarket/Supermarket

§  Others

o   Online

§  E-commerce Websites

§  Company Owned Website

·         By Region

o   North America

o   Europe

o   Asia-Pacific

o   South America

o   Middle East and Africa

Key Players Landscape and Outlook

Key players in the market are helping the growth by focusing on continuous product innovation, retail expansions, and strategic marketing. The manufacturers are actively expanding their product portfolio, increasing the base of the customers, and catering to their evolving needs.

Key players are introducing advanced and improved models for commercial uses, which have a larger washing capacity and ensure the maintenance of hygiene. For instance, in November 2023, Electrolux Professional unveiled its new series of high-capacity barrier washers for commercial uses such as healthcare applications and food processing industries. The range includes Hyvolution and Evolution models, ensuring the ElectroluX Professional has a barrier washer with a dry weight capacity of 20 kg to 110 kg. The washing machine has hygiene protection for use in sensitive environments.

Key Players Operating in Global Washing Machine Market are:

·         Whirlpool Corporation

·         LG Electronics U.S.A. Inc.

·         Panasonic Holdings Corporation

·         Samsung Electronics Co., Ltd.

·         IFB Industries Ltd.

·         Toshiba Lifestyle Products and Services Corporation

·         BSH Hausgeräte GmbH (Bosch)

·         Electrolux Home Products, Inc.

·         Haier Group Corporation

·         Godrej & Boyce Manufacturing Company Limited

Markets and Data’s reports answer the following questions:

·         What is the current and future market size of the product/service in question globally or specific to different countries?

·         How are the markets divided into different product/service segments and the market size and growth of each segment?

·         What is the market potential of different product segments and their investment case?

·         How are the markets predicted to develop in the future and what factors will drive or inhibit growth?

·         What is the business environment and regulatory landscape specific to the product/service?

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