Residential Washing Machine Market Analysis APAC, Europe, North America, Middle East and Africa, South America - US, Canada, China, Japan, Germany - Size and Forecast 2023-2027

Residential Washing Machine Market Forecast 2023-2027

The residential washing machine market size is estimated to grow by USD 35.32 billion at a CAGR of 9.37% between 2022 and 2027. Product innovation leading to portfolio extension and product premiumization is key for companies to differentiate themselves in the market and cater to evolving consumer preferences. The growth of the online laundry market is driven by convenience and the increasing preference for on-demand services. The increased adoption of integrated smart home technology is also contributing to market growth as consumers seek more connected and automated solutions for managing their homes. It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.

What will be the Size of the Market During the Forecast Period?

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Market Segmentation

This market report extensively covers market segmentation by product (top load and front load), technology (fully automatic and semi-automatic), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

By Product

The top load segment is estimated to witness significant growth during the forecast period. Major players have spent extensively on R&D to improve the working and advancement of top-load washing machines. Haier Group announced the launch of the HWM100-678NZP top-load washing machine, which has features like 360-degree waterfall technology in India. It offers deeper cleaning and extra care for clothes. Moreover, top-load models are convenient for loading and unloading clothes, particularly for aged consumers.

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The top load segment was the largest segment and was valued at  USD 24.60 billion in 2017. Some of the advantages of top-load washing machines are they are less prone to odor, mold, and mildew. They are less expensive and more water and energy-efficient. However, top-load washing machines have agitators that help clean the clothes more efficiently, they tangle the clothes in the tub and tend to damage the fabrics. The Whirlpool CAE2743BQ is an energy-efficient, top-load residential washer that reduces water consumption by almost 18 gallons per wash cycle. These factors and advanced developments will drive the growth of the top load segment of the global residential washing machine market during the forecast period.

By Region

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APAC is estimated to contribute 50% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The market growth in the region is mainly attributed to the rising middle-class population and the rising income of people, which encourages them to spend high on household appliances. Additionally, factors such as the evolving urbanization and the change in lifestyle of the population in the region are driving the growth of the market in the region. The growing urbanization is raising the awareness of advanced household appliances in the market. This makes customers switch from traditional hand washing methods to advanced automatic and semi-automatic washing machines. 

China is the world's largest residential washing machine market. Digitalization has played a major role in rising consumer awareness about the availability of new types of machines. Apart from China, South Korea, Mexico, and Japan are also defined as major markets for residential washing machines. Additionally, the penetration of washing machines in the Australian and New Zealand markets is rising due to the growth in demand for improved designs and innovations and water- and energy-efficient products. Hence, such factors will simultaneously drive the residential washing machines market in APAC.

Market Dynamics and Customer Landscape

The market is witnessing a shift towards larger capacity washers, with a focus on models 8 kg and above. This segment caters to consumers with busy lifestyles who require the convenience of washing larger loads, such as baby clothes or heavy fabrics. Manufacturers are incorporating AI-powered features and automatic settings to enhance user experience and improve efficiency. Additionally, advancements in energy efficiency standards and disinfection technologies are driving the demand for energy-efficient and hygienic washing machines. Features like detergent dispensers and digital displays are also gaining popularity for their convenience and user-friendly design. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Key Market Driver

Product innovation leading to portfolio extension and product premiumization is the key driver for the growth of the market. Intense competition in the market, along with rapid technological advancements, has shifted buyer preferences towards more technologically advanced appliances. This change has led to an expansion of product portfolios and prompted companies to increase their spending on research and development to stay competitive. Additionally, product innovations in the market encompass AI-powered washers, automatic settings, automation, and features designed for specific needs such as baby clothes. Customers are increasingly concerned about bacteria and seek appliances that can efficiently handle below 6 Kg loads, catering to their busy lifestyles. Manufacturers are also providing capacity insights to meet customer demands for efficient multitasking appliances.  Major players are introducing innovative, smart, and eco-friendly products to meet these demands. As people have less time for household chores, they prefer smart and user-friendly appliances, leading to product premiumization. The growth in product premiumization, along with an expanded product line and increased customer expenditure on household appliances, is expected to drive sales in the market in the forecast period.

Major Market Trends

The introduction of portable washing machines is the primary trend in the market. Significant advancements in technology make a revolution in the laundry experience for customers. Portable washing machines are the ideal solution for laundry washing. A major transition is shown from heavy-load machines to portable washing machines, weighing as little as 43 pounds. Some of these machines do not require electricity, and they are easy to carry and handy during camping, trekking, and road trips.

Moreover, these machines have several advantages, such as less water requirement than conventional machines, are highly spacious, and can be placed on the countertop usually preferred for sensitive clothes. Hence, these factors will drive the growth of the global residential washing machine market during the forecast period.

Significant Market Challenge

Fluctuations in raw material prices and operational costs is the key challenge to the growth of the market. The factors, such as labor, raw materials, distribution, and marketing market price of washing machines are affecting the price of washing machines. Additionally, major players have to spend on R&D to upgrade their products with the advanced and latest technologies to survive in competition. 

Moreover, regular fluctuations in raw material prices is a major problem for manufacturers as it directly affects the product price and may impede their profit margins. Plastic, steel, and rubber are the main raw materials required in washing machine production. The prices of these products are highly sensitive and mainly dependent on rapid fluctuation at an international level. Hence, the fluctuating prices of raw materials make a major challenge for vendors operating in the household appliances market, to produce efficient and advanced household appliances at affordable prices. Suh factors are expected to adversely affect the growth of the global residential washing machine market during the forecast period.

Key Market Customer Landscape

The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Market Customer Landscape

Who are the Major Residential Washing Machine Market Companies?

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.

Godrej and Boyce Manufacturing Co. Ltd.: The company offers residential washing machines such as WF Eon 8014 PASC GR, WF Eon 8014 PASC SV, Wteon ALR 70 5.0 Fisgs Mtrd, Wsaxis VX 120 5.0 TB3, Ropk.

The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market vendors, including:

• AB Electrolux
• Alliance Laundry System LLC
• Avanti Products LLC
• Haier Smart Home Co. Ltd.
• Hitachi Ltd.
• IFB Industries Ltd.
• LG Corp.
• MIDEA Group
• Miele and Cie. KG
• MIRC Electronics Ltd.
• Panasonic Holdings Corp.
• Robert Bosch Stiftung GmbH
• Samsung Electronics Co. Ltd.
• Siemens AG
• Smeg S.p.a.
• TCL Electronics Holdings Ltd.
• Toshiba Corp.
• Transform Holdco LLC
• Whirlpool Corp.

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Segment Overview

The market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Product Outlook 
  • Top load
  • Front load

• Technology Outlook 
  • Fully automatic
  • Semi-automatic

• Region Outlook 
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • South America
    • Chile
    • Argentina
    • Brazil
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa

Market Analyst Overview

The market is experiencing significant growth driven by technological innovations and changing consumer lifestyles. Consumers are increasingly opting for energy-efficient and space-efficient models with smart technology features like smartphone control and IoT-enabled features. Manufacturers are focusing on environmental sustainability by offering energy-efficient modes and water-saving options. The market also sees a rise in specialized cycles for different fabrics and stain removal, catering to consumer perception and hygiene concerns. The online segment and e-commerce marketplace play a crucial role in reaching consumers, offering a wide range of options to suit various washing needs and household sizes.

In the realm of household appliances, few hold as much significance as washing machines and dryers. As we stride into the future, the Department of Housing and Urban Development (HUD) is championing innovation to address various needs and concerns of consumers. One such innovation making waves is the 2-in-1 removable agitator, offering unparalleled convenience and efficiency in laundry care. HUD recognizes the diversity of consumer requirements, hence the emphasis on accommodating loads ranging from 6 to 8 kg, with a dedicated segment for above 8 kg loads. This segmentation caters to the needs of households of all sizes, ensuring that no one is left struggling with chronic back pain due to lifting heavy loads. In addition to load capacity, cleanliness is a paramount concern. Manufacturers are incorporating advanced technologies to ensure pristine results, even with delicate fabrics. The compact design aesthetics not only save space but also reflect the modern sensibilities of consumers frequenting Department Stores.

Cost savings and efficiency are at the forefront of HUD's agenda. By optimizing detergent consumption and minimizing energy waste, consumers can enjoy both monetary savings and environmental benefits. The introduction of dual load/hybrid washing machines and dual heat pump dryers exemplifies this commitment to efficiency, offering versatility without compromising performance. Electricity consumption has long been a concern, but HUD's push for energy-efficient appliances is alleviating these worries. With clear energy efficiency ratings and a focus on reducing energy waste, consumers can make informed decisions that benefit both their wallets and the planet.

Furthermore, HUD recognizes the importance of addressing the effort associated with laundry tasks. With advancements such as innovative drum designs and dual heat pump technology in dryers, the burden of laundry chores is significantly reduced. Disposable income is a precious resource, and HUD aims to stretch it further by promoting appliances that not only offer superior performance but also contribute to long-term savings. In conclusion, the future of washing machines and dryers is bright, thanks to initiatives spearheaded by HUD. By prioritizing efficiency, convenience, and affordability, these appliances are evolving to meet the diverse needs of consumers while minimizing environmental impact. With the relentless pursuit of innovation, HUD is paving the way for a revolution in laundry care.

Market Scope
Report Coverage	Details
Page number	169
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 9.37%
Market growth 2023-2027	USD 35.32 billion
Market structure	Fragmented
YoY growth 2022-2023(%)	8.64
Regional analysis	APAC, Europe, North America, Middle East and Africa, and South America
Performing market contribution	APAC at 50%
Key countries	US, Canada, China, Japan, and Germany
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	AB Electrolux, Alliance Laundry System LLC, Avanti Products LLC, Godrej and Boyce Manufacturing Co. Ltd., Haier Smart Home Co. Ltd., Hitachi Ltd., IFB Industries Ltd., LG Corp., MIDEA Group, Miele and Cie. KG, MIRC Electronics Ltd., Panasonic Holdings Corp., Robert Bosch Stiftung GmbH, Samsung Electronics Co. Ltd., Siemens AG, Smeg S.p.a., TCL Electronics Holdings Ltd., Toshiba Corp., Transform Holdco LLC, and Whirlpool Corp.
Market dynamics	Parent market analysis, Market Forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about vendors
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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