The washing machine market is anticipated to be worth US$ 69,317.9 million in 2024. For 2023, the value was tipped to be US$ 67,038.6 million. The market is expected to grow at a modest rate over the period from 2024 to 2034, with a CAGR of 4.2%. By the end of the forecast period, the market value is predicted to have jumped to US$ 1,04,597.8 million.
| Attributes | Details |
|---|---|
| Washing Machine Market Value for 2024 | US$ 69,317.9 million |
| Projected Market Value for 2034 | US$ 1,04,597.8 million |
| Value-based CAGR of Market for 2024 to 2034 | 4.2% |
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The washing machine market was tipped to be US$ 59,332.2 million in value in 2019. The market likely progressed at a consistent CAGR of 3.1% over the historical period from 2019 to 2023.
The value of washing machines continued to rise in people's eyes throughout the historical period. However, the pandemic served to dampen the growth of the market. As restrictions were imposed and people stayed more at home, there was less need for fresh clothes. Commercial business washing machines closed, too, further restricting the scope of the market. However, with things returning to normalcy as the historical period came to a close, the demand for washing machines was back on the progress route. By 2023, the demand in the washing machine market had risen to US$ 67,038.6 million.
| Market Value (2019) | US$ 59,332.2 million |
|---|---|
| Historical CAGR (2019 to 2023) | 3.1% |
| Historical Market Valuation (2023) | US$ 67,038.6 million |
Long-term Analysis of the Washing Machine Market
The washing machine market is estimated to reach US$ 69,317.9 million in 2024. The market's progress is pegged to be moderate from 2024 to 2034, with a CAGR of 4.2%.
Technology is set to play a key role in the acceleration of demand in the washing machine market. As with other kitchen appliances, consumers are also seeking convenience in washing machines. Technology is helping washing machines become easier to use; for example, washing machines can be operated through mobile apps. With the improvement in lifestyles, consumers are willing to splash on premium washing machines with advanced features.
Apart from the residential sector, the application of washing machines in the commercial sector is expected to contribute significantly to the growth of the washing machine market. Laundry businesses are booming, while washing machines are also being adapted into hotels and other accommodations. Thus, the market outlook in the forecast period is better than in the historical period. By 2034, it is anticipated that the value of the market is expected to have jumped to US$ 1,04,597.8 million.
Principal Consultant
An analysis of the washing machine market is attempted concerning two categories: product and application. Front and top load are the two types of products in the market, each offering different characteristics. Both commercial and residential use of washing machines are propelling the market.
Front-load washing machines triumph over top-load washing machines in the market. For 2024, front load is expected to account for 63.8% of the market share by product.
Typically, front-load washing machines use less water and electricity than top-load washing machines. Thus, the product's cost-saving and environmental impact-reducing nature is endearing to users. Front-load washing machines are also preferred due to their better results in overall cleaning as well as their aesthetic value.
| Attributes | Details |
|---|---|
| Top Product | Front Load |
| CAGR (2024 to 2034) | 63.8% |
Commercial spaces are adopting washing machines at a rapid pace. For 2024, commercial application is anticipated to contribute to 59.3% of the market share.
Laundry businesses are being set up in an increasing number globally, and washing machines are a prime factor in their success. In addition, hotels are also offering laundry services to customers, thus increasing the scope of the market in the commercial space even more.
| Attributes | Details |
|---|---|
| Top Application | Commercial |
| CAGR (2024 to 2034) | 59.3% |
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The rise of the middle class in the Asia Pacific is fueling the demand for washing machines in the region. Families increasingly consider washing machines a necessity, especially with the rise in working women.
Europe, North America, and Oceania are other regions representing opportunities in the market. The advancement of technology is a prime reason for the growth of the market.
| Countries | CAGR |
|---|---|
| United States | 3.0% |
| India | 5.6% |
| China | 4.2% |
| Germany | 3.9% |
| Australia | 4.8% |
India is set to be the leading country in the market. For the 2024 to 2034 period, the CAGR for India is estimated to be a sturdy 5.6%.
Washing machine suppliers are increasingly making washing machines available at reduced prices in India as part of deals and festive offers. Thus, washing machines have penetrated even the rural areas in the country.
China is another Asian country, signifying opportunities for the market. For the forecast period, the CAGR for China is anticipated to be a respectable 4.2%.
Technology is not only being used by consumers in China but also being leveraged in manufacturing. For example, China Midea’s washing machine manufacturing plant in Jingzhou uses 5G networking to connect the entire factory and ease logistics and supply chain processes.
Sustainability trends are strong in Australia, especially in the wake of recent natural disasters. Thus, Australians are seeking consumer products that do not damage the environment. Manufacturers are heeding the call of the Australian population by launching sustainable machines. For example, in June 2023, Samsung Australia launched the Bespoke AI Laundry range, which combined technology with sustainability. For the forecast period, the CAGR for Australia is predicted to be a solid 4.8%.
Germany is home to prominent market players like Bosch and Siemens. The companies focus on new launches, and the market is constantly in flux. Thus, the wide variety of options available to consumers keeps the demand flowing in Germany. For the forecast period, the CAGR for Germany is projected to be a commendable 3.9%.
The trend in the United States slants toward compact kitchen appliances. Thus, the demand for mini and portable washing machines is contributing heavily to the growth of the market in the country. For the forecast period, the CAGR for the United States is a consistent 3.0%.
Maintaining a constant stream of new products is vital in the market. As technology improves, companies have to stay on their toes to avoid being left behind by competitors.
Market players are using offers and discounts to reach rural and underdeveloped areas of the globe. Government aid is also helping brands explore hitherto untapped regions.
Recent Developments in the Washing Machine Market
The washing machine market size is expected to be worth US$ 69,317.9 million in 2024.
The washing machine market is estimated to get as big as US$ 1,04,597.8 million by 2034.
The CAGR for the market in India from 2024 to 2034 is estimated to be 5.6%.
Top load and front load are the two types of washing machines.
The washing machine market is expected to grow by 4.2% from 2024 to 2034.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Product Life Cycle Analysis 3.5. Supply Chain Analysis 3.5.1. Supply Side Participants and their Roles 3.5.1.1. Producers 3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers) 3.5.1.3. Wholesalers and Distributors 3.5.2. Value Added and Value Created at Node in the Supply Chain 3.5.3. List of Raw Material Suppliers 3.5.4. List of Existing and Potential Buyer’s 3.6. Investment Feasibility Matrix 3.7. Value Chain Analysis 3.7.1. Profit Margin Analysis 3.7.2. Wholesalers and Distributors 3.7.3. Retailers 3.8. PESTLE and Porter’s Analysis 3.9. Regulatory Landscape 3.9.1. By Key Regions 3.9.2. By Key Countries 3.10. Regional Parent Market Outlook 3.11. Production and Consumption Statistics 3.12. Import and Export Statistics 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) & Volume (Units) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) & Volume (Units) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Product 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Product, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Product, 2024 to 2034 5.3.1. Fully Automatic 5.3.2. Semi-automatic 5.3.3. Dryer 5.4. Y-o-Y Growth Trend Analysis By Product, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Product, 2024 to 2034 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Capacity 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Capacity, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Capacity, 2024 to 2034 6.3.1. Below 6 Kg 6.3.2. 6.1- 8 Kg 6.3.3. Above 8 Kg 6.4. Y-o-Y Growth Trend Analysis By Capacity, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By Capacity, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 7.1. Introduction 7.2. Historical Market Size Value (US$ Million) & Volume (Units) Analysis By Region, 2019 to 2023 7.3. Current Market Size Value (US$ Million) & Volume (Units) Analysis and Forecast By Region, 2024 to 2034 7.3.1. North America 7.3.2. Latin America 7.3.3. Western Europe 7.3.4. Eastern Europe 7.3.5. South Asia and Pacific 7.3.6. East Asia 7.3.7. Middle East and Africa 7.4. Market Attractiveness Analysis By Region 8. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 8.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 8.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 8.2.1. By Country 8.2.1.1. USA 8.2.1.2. Canada 8.2.2. By Product 8.2.3. By Capacity 8.3. Market Attractiveness Analysis 8.3.1. By Country 8.3.2. By Product 8.3.3. By Capacity 8.4. Key Takeaways 9. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 9.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 9.2.1. By Country 9.2.1.1. Brazil 9.2.1.2. Mexico 9.2.1.3. Rest of Latin America 9.2.2. By Product 9.2.3. By Capacity 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Product 9.3.3. By Capacity 9.4. Key Takeaways 10. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Country 10.2.1.1. Germany 10.2.1.2. UK 10.2.1.3. France 10.2.1.4. Spain 10.2.1.5. Italy 10.2.1.6. Rest of Western Europe 10.2.2. By Product 10.2.3. By Capacity 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Product 10.3.3. By Capacity 10.4. Key Takeaways 11. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Country 11.2.1.1. Poland 11.2.1.2. Russia 11.2.1.3. Czech Republic 11.2.1.4. Romania 11.2.1.5. Rest of Eastern Europe 11.2.2. By Product 11.2.3. By Capacity 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Product 11.3.3. By Capacity 11.4. Key Takeaways 12. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Bangladesh 12.2.1.3. Australia 12.2.1.4. New Zealand 12.2.1.5. Rest of South Asia and Pacific 12.2.2. By Product 12.2.3. By Capacity 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Product 12.3.3. By Capacity 12.4. Key Takeaways 13. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Product 13.2.3. By Capacity 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Product 13.3.3. By Capacity 13.4. Key Takeaways 14. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14.1. Historical Market Size Value (US$ Million) & Volume (Units) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ Million) & Volume (Units) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Country 14.2.1.1. GCC Countries 14.2.1.2. South Africa 14.2.1.3. Israel 14.2.1.4. Rest of MEA 14.2.2. By Product 14.2.3. By Capacity 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Product 14.3.3. By Capacity 14.4. Key Takeaways 15. Key Countries Market Analysis 15.1. USA 15.1.1. Pricing Analysis 15.1.2. Market Share Analysis, 2023 15.1.2.1. By Product 15.1.2.2. By Capacity 15.2. Canada 15.2.1. Pricing Analysis 15.2.2. Market Share Analysis, 2023 15.2.2.1. By Product 15.2.2.2. By Capacity 15.3. Brazil 15.3.1. Pricing Analysis 15.3.2. Market Share Analysis, 2023 15.3.2.1. By Product 15.3.2.2. By Capacity 15.4. Mexico 15.4.1. Pricing Analysis 15.4.2. Market Share Analysis, 2023 15.4.2.1. By Product 15.4.2.2. By Capacity 15.5. Germany 15.5.1. Pricing Analysis 15.5.2. Market Share Analysis, 2023 15.5.2.1. By Product 15.5.2.2. By Capacity 15.6. UK 15.6.1. Pricing Analysis 15.6.2. Market Share Analysis, 2023 15.6.2.1. By Product 15.6.2.2. By Capacity 15.7. France 15.7.1. Pricing Analysis 15.7.2. Market Share Analysis, 2023 15.7.2.1. By Product 15.7.2.2. By Capacity 15.8. Spain 15.8.1. Pricing Analysis 15.8.2. Market Share Analysis, 2023 15.8.2.1. By Product 15.8.2.2. By Capacity 15.9. Italy 15.9.1. Pricing Analysis 15.9.2. Market Share Analysis, 2023 15.9.2.1. By Product 15.9.2.2. By Capacity 15.10. Poland 15.10.1. Pricing Analysis 15.10.2. Market Share Analysis, 2023 15.10.2.1. By Product 15.10.2.2. By Capacity 15.11. Russia 15.11.1. Pricing Analysis 15.11.2. Market Share Analysis, 2023 15.11.2.1. By Product 15.11.2.2. By Capacity 15.12. Czech Republic 15.12.1. Pricing Analysis 15.12.2. Market Share Analysis, 2023 15.12.2.1. By Product 15.12.2.2. By Capacity 15.13. Romania 15.13.1. Pricing Analysis 15.13.2. Market Share Analysis, 2023 15.13.2.1. By Product 15.13.2.2. By Capacity 15.14. India 15.14.1. Pricing Analysis 15.14.2. Market Share Analysis, 2023 15.14.2.1. By Product 15.14.2.2. By Capacity 15.15. Bangladesh 15.15.1. Pricing Analysis 15.15.2. Market Share Analysis, 2023 15.15.2.1. By Product 15.15.2.2. By Capacity 15.16. Australia 15.16.1. Pricing Analysis 15.16.2. Market Share Analysis, 2023 15.16.2.1. By Product 15.16.2.2. By Capacity 15.17. New Zealand 15.17.1. Pricing Analysis 15.17.2. Market Share Analysis, 2023 15.17.2.1. By Product 15.17.2.2. By Capacity 15.18. China 15.18.1. Pricing Analysis 15.18.2. Market Share Analysis, 2023 15.18.2.1. By Product 15.18.2.2. By Capacity 15.19. Japan 15.19.1. Pricing Analysis 15.19.2. Market Share Analysis, 2023 15.19.2.1. By Product 15.19.2.2. By Capacity 15.20. South Korea 15.20.1. Pricing Analysis 15.20.2. Market Share Analysis, 2023 15.20.2.1. By Product 15.20.2.2. By Capacity 15.21. GCC Countries 15.21.1. Pricing Analysis 15.21.2. Market Share Analysis, 2023 15.21.2.1. By Product 15.21.2.2. By Capacity 15.22. South Africa 15.22.1. Pricing Analysis 15.22.2. Market Share Analysis, 2023 15.22.2.1. By Product 15.22.2.2. By Capacity 15.23. Israel 15.23.1. Pricing Analysis 15.23.2. Market Share Analysis, 2023 15.23.2.1. By Product 15.23.2.2. By Capacity 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Product 16.3.3. By Capacity 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. Whirlpool Corporation 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.1.5.2. Product Strategy 17.1.1.5.3. Channel Strategy 17.1.2. Samsung Electronics Co., Ltd. 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.2.5.2. Product Strategy 17.1.2.5.3. Channel Strategy 17.1.3. LG Electronics Inc. 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.3.5.2. Product Strategy 17.1.3.5.3. Channel Strategy 17.1.4. Electrolux AB 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.4.5.2. Product Strategy 17.1.4.5.3. Channel Strategy 17.1.5. Haier Smart Home Co., Ltd. 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.5.5.2. Product Strategy 17.1.5.5.3. Channel Strategy 17.1.6. Godrej Industries Ltd. 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.6.5.2. Product Strategy 17.1.6.5.3. Channel Strategy 17.1.7. IFB Industries Ltd. 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.7.5.2. Product Strategy 17.1.7.5.3. Channel Strategy 17.1.8. Panasonic Corporation 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.8.5.2. Product Strategy 17.1.8.5.3. Channel Strategy 17.1.9. Mirc Electronics Limited 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.9.5.2. Product Strategy 17.1.9.5.3. Channel Strategy 17.1.10. Bsh Hausgeräte GmbH 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 17.1.10.5.2. Product Strategy 17.1.10.5.3. Channel Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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Washing Machine Market
