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The global washing machine market size was valued at USD 65.44 billion in 2023. The market is projected to grow from USD 69.28 billion in 2024 to USD 127.62 billion by 2032, exhibiting a CAGR of 7.93% during the forecast period. Asia Pacific dominated the Washing Machine Market with a market share of 45.14% in 2023.
A washing machine is an essential appliance used across households and commercial spaces, such as hospitals, hotels, luxury resorts, and laundromats for cleaning textiles efficiently. The product is easy to use and significantly saves the user’s effort and time, which triggers its adoption throughout countries. Furthermore, prominent industry participants worldwide, including Panasonic, Bosch, GE Appliances, and Samsung, prioritize developing the product by incorporating multiple advanced features, such as smart connectivity, quick wash, energy efficiency, and soft closing. These features enhance the product’s efficiency and attract more customers.
The COVID-19 outbreak negatively influenced the global market expansion. The pandemic led to the closure of physical stores, cross-border trade limitations, and raw material & labor shortages. These factors impeded the product’s manufacturing and sales throughout countries, notably in 2020. Nevertheless, the crisis improved consumer consciousness about the significance of cleanliness and health, which is expected to boost the product adoption in the coming years.
Increasing Consumer Interest in Smart Products to Provide Market Growth Opportunities
The increasing consumer interest in technologically advanced products will fuel the demand for smart washing machines with innovative features. These products incorporate internet connectivity, sensors, and cognitive capabilities to improve the user’s laundry experience. Moreover, smart machines include Internet of Things (IoT) technology, which assists customers in monitoring and changing their settings from a distance. Recent years have witnessed the increasing development of smart products with advanced functionalities. For instance, in May 2024, Xiaomi Inc., a Chinese consumer electronics company, introduced its latest smart washing machine, Xiaomi MIJIA Essence Wash, with features including a high-precision sensor, smart drying, and voice control. The 10 kg capacity machine can also be controlled via the MIJIA application.
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Growing Residential Sector to Accelerate Product Sales
The rapidly growing residential sector across countries worldwide due to the rising population increases the demand for essential home appliances, including cloth washers; this will positively influence the global washing machine market growth. For instance, according to GOV. U.K., a U.K. government website, approximately 50,000 houses were constructed in the country in 2021 (first quarter), the highest in more than 20 years. Economic growth in countries including the U.S. and China also supports the residential industry expansion. For instance, as per the National Association of Home Builders (NAHB), a U.S.-based trade association, single-family housing starts across the country are expected to rise by 4.7% in 2024 and 4.2% in 2025. The increasing consumer emphasis on convenient and efficient solutions will propel the adoption of modern appliances across these residences that make everyday household chores, such as cleaning and washing easier.
Growing Accommodation Industry and Number of Laundromats to Boost Product Adoption
Washing machines are a vital part of accommodation businesses, including hotels, motels, resorts, and hostels as they frequently clean bedding, curtains, towels, and linens to provide guests with a better experience. Moreover, rising consumer knowledge regarding hygiene has resulted in accommodation businesses investing in machines that efficiently clean large volumes of clothes regularly. In this regard, the rapidly growing accommodation industry and an increasing number of hotels and resorts across countries will boost the product demand. For instance, in April 2024, Sarovar Hotels, an India-based hotel chain, including Grand Continent Malleshwaram (Bangalore), Sarovar Portico Sonipat (Haryana), and Grand Continent Anjuna (Goa) feature numerous rooms and luxury amenities. They are located in prime locations to attract more customers.
Furthermore, a sizable number of individuals prefer laundromats due to their convenience and additional services, including pickup and drop-off options. As a result, the increasing number of laundromats in various countries providing laundry machines for public use will boost the product sales. For instance, in April 2024, a new laundromat, Wash Works Laundromat, was launched at Hancock Street, Springfield, U.S., featuring efficient washing machines that can be controlled using a smartphone. The new facility also provides laundry pickup, delivery, wash & fold, and self-service solutions.
High Electricity Consumption and Cost of Technologically Advanced Machines to Limit Market Growth
High electricity costs due to the usage of washing appliances are significant factors affecting the demand for the product. For instance, according to the U.S. Energy Information Administration (EIA), an agency collecting and analyzing energy data, in 2020 stated that the country’s households consumed 11 billion kWh of electricity to wash clothes. In addition, technologically advanced machines are offered at high prices due to their innovative features and quality. High repair and maintenance costs are also associated with these products, further hampering their adoption among middle & lower-income consumers. In addition, uncertainty in the prices of raw materials, such as stainless steel and plastic used to develop the product can affect manufacturing and decline a company’s profit margins.
Increasing Consumer Preference for Advanced Capabilities Triggered Demand for Fully Automatic Machines
Based on product, the market is segmented into fully automatic, semi-automatic, and dryer.
The fully automatic segment, further bifurcated into front loading and top loading washing machines, led the global market in 2023. The fully automatic machine includes innovative features, such as programmable wash settings and water level sensing, which eliminates the requirement for manual interference in various wash cycles. This factor saves the user’s efforts and time and triggers product adoption. In addition, rising consumer inclination toward technologically advanced home appliances will drive the fully automatic machine sales.
The semi-automatic segment will grow considerably in the coming years. The segment’s growth is favored by the lower cost of semi-automatic machines compared to fully automatic ones, which will fuel their demand among individuals with budget constraints.
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Increasing Demand for Small Washing Machines across Households to Accelerate Product Sales in 5-7 Kg Category
Based on capacity, the market is divided into below 5 kg, 5-7 kg, and above 7 kg.
The 5-7 kg segment held the highest washing machine market share in 2023. A medium-capacity machine ranging from 5 to 7 kg is suitable for a family of around four members. These machines efficiently clean products and are available in both top-load and front-load options. They also allow users to wash more clothes without performing multiple cycles, unlike small-capacity machines, escalating their adoption throughout households worldwide.
The above 7 kg segment will record the highest CAGR during the forecast period, benefitted from the increasing adoption of these large capacity machines across large family households and commercial settings, such as hotels and hospitals.
The global market is studied across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Asia Pacific Washing Machine Market Size, 2023 (USD Billion)
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Asia Pacific dominates the global market, backed by increasing consumer disposable incomes and emphasis on a modern and convenient lifestyle involving advanced and efficient products, such as cloth washers. Furthermore, the rapidly increasing urban population living a fast-paced lifestyle in various Asian countries are demanding washing appliances that efficiently wash clothes and saves user’s time. This factor will contribute to the regional market’s expansion. For instance, as per the United Nations Human Settlements Program (UN-Habitat), a Kenya-based United Nations agency emphasizing sustainable urban development, the urban population across the Asia Pacific will rise by nearly 50% (adding nearly 1.2 billion individuals) by 2050.
The European market is expected to grow significantly in the near term, supported by the growing awareness of environmental protection and sustainability among European countries. This will increase consumer inclination toward low-energy appliances that have a limited environmental impact. This factor can trigger the development and sales of water and energy-efficient machines across the region. For instance, in February 2023, Samsung Electronics U.K. Ltd., a U.K.-based subsidiary of Samsung Electronics, a South Korea-based electronics company, introduced its new energy-efficient A.I. Washing Machine (11 Kg) and Tumble Dryer (9 Kg). The products include a power-saving feature that assists in reducing energy costs.
Furthermore, the growing smart home trend across countries, such as the U.S. and Canada will drive the demand for appliances, such as smart laundry machines and favor the North American market expansion. Numerous tech-savvy individuals across the region also prioritize smart appliances with better capabilities.
The rapidly evolving residential sector in countries, such as Brazil and Argentina is expected to boost the demand for home appliances, including cloth washers, and support the South American market expansion.
In addition, rising urbanization and consumer interest in smart and intelligent appliances that make household tasks, including laundry, easier will accelerate product adoption in the Middle East & Africa.
Key Players to Develop Products With High-Tech Functionalities to Gain Competitive Advantage
The global market includes renowned players, such as Samsung Electronics, Whirlpool, Electrolux AB, and Panasonic that offer the product with various high-tech functionalities, including quick washing, smart connectivity, and steam cleaning to attract more tech-savvy customers and gain a competitive edge. In addition, launching products at key locations, retail expansion, and collaborating with other key brands are assisting these companies in strengthening their market share. Moreover, rising key players’ emphasis on marketing and promotional strategies will boost their brand awareness and product sales.
An Infographic Representation of Washing Machine Market
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The report provides a detailed market analysis and focuses on significant aspects, such as competition landscape, regional analysis, product, and capacity. Besides this, it offers insights into various market trends and highlights key industry developments. In addition to the above-mentioned factors, the report encompasses several other factors that have contributed to the growth of the market in recent years.
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ATTRIBUTE | DETAILS |
Study Period | 2019-2032 |
Base Year | 2023 |
Estimated Year | 2024 |
Forecast Period | 2024-2032 |
Historical Period | 2019-2022 |
Growth Rate | CAGR of 7.93% from 2024 to 2032 |
Unit | Value (USD Billion) |
Segmentation | By Product Type
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By Capacity
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By Region
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Fortune Business Insights says that the market size was valued at USD 65.44 billion in 2023 and is projected to reach USD 127.62 billion by 2032.
In 2023, Asia Pacific market value stood at USD 29.54 billion.
Recording a CAGR of 7.93%, the market will exhibit steady growth over the forecast period.
Based on product type, the fully automatic segment is leading the market.
The growing residential sector in various countries is fueling the market growth.
Whirlpool Corporation, Samsung Electronics, LG Electronics Inc., Electrolux AB, and Haier Smart Home Co. Ltd. are the major players in the market.
Asia Pacific dominated the market in terms of share in 2023.
Growing accommodation industry and number of laundromats are expected to boost the product adoption.
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