The Global Laundry Appliances Market size was valued at USD XX Billion in 2022 and is expected to surpass USD XX Billion by 2031, expanding at a CAGR of 3% during the forecast period, 2023 – 2031. The growth of the market is attributed to increasing number of middle-class populations which can afford dryers and washing machine.
Laundry appliance refers to those devices that are used to clean clothes and textiles. This market is dependent on real estate growth; both rental refurbishing and purchase are also innovating for smaller appliances, because of different housing arrangements across the globe.
The Covid-19 pandemic had an adverse impact on the laundry appliances market. The production and supply in the market has been on halt owing to lockdown; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.
Laundry Appliances Market Trends, Drivers, Restraints, and Opportunities
-
Rising populations from middleclass opting for washing machine and dryers are expected to drive the market during the forecast period.
-
Changing lifestyle, increased disposable income, and increased level of standard of living are the primary factors which is likely to propel the market expansion in coming years.
-
Growing number of working female population is likely to boost the laundry appliances market.
-
Innovation in laundry appliances market to increase efficiency and energy efficiency and water consumption are projected to surge the market in near future,
-
R&D investment and technological advancement in laundry appliances market are expected to offer lucrative opportunities for the market players.
Scope of Laundry Appliances Market Report
The report on the laundry appliances market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes
|
Details
|
|
Report Title
|
Laundry Appliances Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
|
|
Base Year
|
2022
|
|
Historic Data
|
2016–2021
|
|
Forecast Period
|
2023–2031
|
|
Segmentation
|
Product (Washing Machine, Dryers, Electric Smoothing Irons, and Others), Technology (Automatic, Semi-Automatic/Manual, and Others), and Distribution Channel (Multi-brand Stores, Exclusive Stores, Online, and Others)
|
|
Report Coverage
|
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
|
|
Key Players Covered in the Report
|
Whirlpool Corporation; LG Electronics; Samsung; Haier; and Bosch
|
Laundry Appliances Market Segment insights
The washing machine segment is projected to constitute a large market share
Based on product, the laundry appliances market is segregated into washing machine, dryers, electric smoothing irons, and others. The washing machine segment is expected to account for a key share of the market during the forecast period owing to increasing number of women working population as washing machine assists women with household chores. Furthermore, the rising urban population across the world is estimated to drive the segment growth in near future.
The automatic segment is expected to register a substantial CAGR
Based on technology, the laundry appliances market is divided into automatic, semi-automatic/manual, and others. The automatic segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to technical advancements, rising consumer disposable income, growing need for energy-saving and low carbon emission-oriented solutions. Furthermore, automatic smart washers are a source of luxury and convenience.
The online segment is expected to dominate the market
Based on distribution channel, the laundry appliances market is divided into multi-brand stores, exclusive stores, online, and others the online segment is anticipated to expand at a robust CAGR during the forecast period. Increasing number of internet users and online portals and the growing importance of home monitoring in remote locations is expected to drive the segment growth in near future.
Segments
The laundry appliances market has been segmented on the basis of:-
Product
- Washing Machine
- Dryers
- Electric Smoothing Irons
- Others
Technology
- Automatic
- Semi-Automatic/Manual
- Others
Distribution Channel
- Multi-brand Stores
- Exclusive Stores
- Online
- Others
Key Companies
Competitive Landscape
Key players competing in the laundry appliances include Whirlpool Corporation; LG Electronics; Samsung; Haier; and Bosch.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.
Request For Customization
Enquiry Before Buying
Speak With Analyst
