The GMI Research forecasts that the washing machine market

The GMI Research forecasts that the washing machine market is witnessing an upsurge in demand during the forecast period starting from 2020 till 2027. This is mainly due to the growing adoption of smart electronic devices, rapid urbanization, and increase in the production of clothing products.

Top Manufacturers in the Washing Machine Market:Alliance Laundry Systems LLCAB ElectroluxIFB Industries Ltd.LG ElectronicsPanasonic CorporationRobert Bosch GmbHSamsung Electronics Co. Ltd.Siemens AGWhirlpool CorporationVideocon Industries LimitedGodrej GroupWhite-Westinghouse InternationalWashing Machine Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)Key Drivers

Some of the major factors surging the growth of the global washing machine market include the growing adoption of smart electronic devices, rapid urbanization, and an increase in the production of clothing products. Moreover, growing per capita spending of household on electronic equipment, increasing adoption of corporate work culture, continuously changing consumer lifestyle, along with the rising preference for convenience, will propel the demand for the market in the upcoming years. Additionally, the strong demand for commercial laundry equipment and digital laundry payment systems is fuelling the market growth across the globe. On the other edge of the spectrum, the factors that are hindering the market growth include variations in the prices of raw materials and high consumption of electricity by washing machines. In addition to this, the growing use of IoT technology in these devices, technological advancement, and the implementation of next-generation washing machines that enable efficient use of electricity and water are projected to bring various growth opportunities for the market in the upcoming years.

Based on the region, the Asia-Pacific region is expected to dominate the market during the forecast period owing to the rising per capita income of the population, increasing economic conditions including India, Japan, , and South Korea, and strong demand for home appliances in the region. On the other hand, North America is anticipated to grow at a higher CAGR during the forecast period due to the rising trend of the laundromat and a common laundry room in the region. Additionally, the growing number of smart homes, enhanced standard of living, rapid economic development, are the factors energizing the growth of the washing machine industry in the region.

Washing Machine Market Segmentation:Segmentation by Product:Fully AutomaticFront LoadTop LoadSemi-AutomaticDryersSegmentation by Technology:Smart Connected MachinesConventional MachinesSegmentation by Capacity:Below 6 KgAbove 6 KgSegmentation by End-Use:CommercialResidentialSegmentation by Region:North AmericaUnited States of AmericaCanadaAsia PacificJapanIndiaRest of APACEuropeUnited KingdomGermanyFranceSpainRest of EuropeRoWBrazilSouth AfricaSaudi ArabiaUAERest of the world (remaining countries of the LAMEA region)

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