The Mexico laundry appliances market size is projected to expand at a substantial CAGR during the forecast period. The growth of the market is attributed to the rising disposable income and changing lifestyles of people.
A laundry appliance, also known as a washer, clothes washer, or dryer is a device that is used to wash clothes. Dry cleaning (which uses different cleaning fluids and is conducted by professional firms) and ultrasonic cleaners are examples of equipment that use water instead of dry cleaning. The user adds liquid or powder laundry detergent to the washing device's water. It's used to clean delicate fabrics that can't stand up to the challenges of a washing machine and dryer; it may also save time by eliminating the need for labor-intensive hand cleaning. A laundry appliance is a machine that uses water to clean and rinse textiles, although it is not restricted to washing. It may also be used to dry things out.
The Covid-19 pandemic affected the demand and supply of Mexico laundry appliances market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing disposable income and changing lifestyles of people is projected to fuel the market during forecast period.
- Improving standards of living is key factor propelling the market.
- Alternate products and technological threat are estimated to hinder the market growth.
- Lack of awareness act as major challenge that can impede the market expansion in the coming years.
Scope of the Report
The report on the Mexico laundry appliances market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Mexico Laundry Appliances Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2021
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Historic Data
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2019–2020
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Forecast Period
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2021–2028
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Segmentation
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Types (Washing Machine, Dryers, Electric Smoothing Irons, Others) and Applications (Residential and Commercial)
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Country Scope
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Mexico
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Samsung; AB Electrolux; LG Electronics; and Maytag
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Market Segment Insights:
The washing machine segment holds a major market share
Based on types, the Mexico laundry appliances market is segregated into washing machine, dryers, electric smoothing irons, and others. The washing machine segment is expected to represent a key share of the market during the forecast period. Increasing demand for washing machines is projected to propel the market. The advent of coming generation washing machines that use technologies for optimal power and water consumption is projected to boost demand for these items. The need for washing machines is steadily growing, owing to an increasing number of people's lack of time to do laundry as a result of their hectic lifestyles.
The residential segment is anticipated to expand at high CAGR during the forecast period
On the basis of applications, the Mexico laundry appliances market is bifurcated into residential and commercial. The residential sector is estimated to expand at a rapid pace. Consumers wish to save time in cleaning and caring for their garments and appliances due to hectic lifestyles. Residential laundry machines are becoming more popular as a result of the growing number of young people who share their homes and dual-income families who have a busy lifestyle. Dryers have a low penetration rate than washing machines, which could create an opportunity for market players.
Segments
Segments Covered in the Report
The Mexico laundry appliances market is segmented on the basis of
Types
- Washing Machine
- Dryers
- Electric Smoothing Irons
- Others
End-users
Country
Key Players
- Samsung
- AB Electrolux
- LG Electronics
- Maytag
Competitive Landscape
The major players in the Mexico laundry appliances market include Samsung, AB Electrolux, LG Electronics, and Maytag.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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