The global residential washing machine market size is expected to reach USD 22.55 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 6.1% during the forecast period. Rising standard of living coupled with the rapid urbanization across the globe is expected to drive the growth. Moreover, significant improvement of electricity infrastructure in developing countries including India, Indonesia, and China is expected to further fuel the product demand.
The
market for fully automatic washing machines is expected to register the fastest
CAGR of 6.3% from 2019 to 2025 owing to the ease of operation, high energy
efficiency, and less water consumption and drying times. Major manufacturers
including Samsung Electronics Co. Ltd.; Whirlpool Corporation; and LG
Electronics Inc. are introducing latest technologies such as Internet of Things
(IoT) to gain competitive edge in the market. For instance, in February 2018,
Samsung Electronics Co. Ltd. announced to introduce smart washing machine
featuring the Bixby AI interface. The introduction of Artificial Intelligence
(AI) in the washing machines will change the industry as it will offer an
extended ease of operation to the consumers and will fuel the market growth
over the forecast period.
Over
the past few years, the major players have adopted marketing strategies
including expansion of production capacity, innovative product launch,
introduction of latest technologies, and mergers and acquisitions to cater to
the increasing demand for washing machines in the region. For instance, in June
2018, Godrej Appliances, an India based home appliances manufacturer inaugurated
its new facility at Mohali, India, with a production capacity of four to six
lakh units per year. In addition, in January 2018, LG Electronics Inc. launched
‘Wi-Fi Inverter’ washing machines in Sri Lanka. The product is equipped with
Wi-Fi technology and energy-efficient features.
Full Research Report On Residential Washing Machine Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/residential-washing-machine-market
Further key
findings from the report suggest:
- Asia Pacific is projected to witness the fastest
CAGR of 6.4% from 2019 to 2025
- The revenue from fully automatic product forms is
expected to exceed USD 10 billion by the end of 2025
- Washing machines with 6 to 8 kg load capacity is
expected to remain the dominant segment, accounting for more than 45% of
the global market share by the end of 2025
- Key players in the residential washing machine
market include Whirlpool Corporation, Samsung Electronics Co. Ltd., LG
Electronics Inc., IFB Industries Ltd., AB Electrolux, GE Appliances, Haier
Group Corporation, BSH Home Appliances Group, Siemens AG, Panasonic
Corporation, and Midea Group
Request a Sample Copy of the Report @
https://www.grandviewresearch.com/industry-analysis/residential-washing-machine-market/request/rs1
Grand View Research has
segmented the global residential washing machine market on the basis of
product, capacity, technology, distribution channel, and region:
Residential
Washing Machine Product Outlook (Revenue, USD Million, 2015 - 2025)
- Fully Automatic
- Semi-automatic
Residential
Washing Machine Capacity Outlook (Revenue, USD Million, 2015 - 2025)
- Below 6 kg
- 6 to 8 kg
- Above 8kg
Residential
Washing Machine Technology Outlook (Revenue, USD Million, 2015 - 2025)
- Top Load
- Front Load
Residential
Washing Machine Distribution Channel Outlook (Revenue, USD Million, 2015 -
2025)
- Offline
- Online
Residential
Washing Machine Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- U.S.
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- India
- Central & South America
- Brazil
- Middle East & Africa
- South Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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