US Washing Machine Market by End-user, Technology, and Distribution Channel - Forecast and Analysis 2024-2028

US Washing Machine Market Forecast 2024-2028 

The US Washing Machine Market size is forecast to increase by USD 1.65 billion, at a CAGR of 5.2% between 2023 and 2028. The market is thriving due to pivotal factors like product innovation, which enriches and broadens product offerings. Furthermore, the surge in online washing machine sales and the flourishing hospitality sector significantly contribute to this growth trajectory. These trends reflect a dynamic landscape, driven by evolving consumer preferences and the demand for advanced, convenient solutions. Such developments underscore the market's resilience and its ability to adapt to changing market dynamics and consumer needs.

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

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Market Dynamic and Customer Landscape

The market witnesses growth fueled by technological advancements such as AI-powered washers like Samsung Bespoke AI Laundry, addressing consumer preferences for smart appliances. Innovations like fully automatic segments cater to lifestyle changes and urbanization, driving demand. Strategic initiatives, including mergers and acquisitions by industry giants like Whirlpool, propel product development. Challenges include issues like mold formation and mildew due to vertical gaskets, impacting consumer perception and necessitating continuous improvements in distribution channel insights to meet evolving consumer needs efficiently. Our researchers analyzed the data with 2023 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 is the key factor driving the market. The intense competition within the market, combined with rapid technological advancements in household appliances, has sparked a revitalization of consumer tastes and preferences. This shift has seen many customers gravitating towards more technologically advanced appliances, particularly in the realm of washing machines.

These changes in consumer buying patterns have prompted vendors to expand their product portfolios and invest significantly in research and development (R&D) to remain competitive in this aggressive market landscape. Most notably, product innovations within the washing machine market in the US primarily focus on advancements in technology, performance, features, and design. Furthermore, with a consistent rise in per capita income and increasing urbanization in the US, consumers are increasingly inclined to invest in consumer durables and equip their households with the latest technologically-driven appliances.

Furthermore, market players are responding to these trends by offering washing machines that are not only innovative and smart but also eco-friendly, catering to the growing concern for sustainability. Moreover, with the advent of IoT technology, there's an emergence of smart electronic devices within the laundry sector, leading to developments such as digital laundry payment systems and online sales growth. These advancements aim to streamline logistics and production, while also addressing concerns regarding electricity consumption and environmental impact. Additionally, as more people engage in outdoor activities and lifestyles that necessitate frequent clothing changes, there's a growing demand for commercial laundry equipment that is efficient and effective in meeting these needs.

Key Market Trends

The introduction of portable washing machines is the primary trend shaping the market. Rapid advancements in technology have revolutionized the way consumers carry out their clothes-washing and laundry activities. Portable has recently emerged as an ideal solution for washing clothes and laundry. These are usually smaller in size than conventional washing machines and can be transported with ease. Moreover, some portable do not require electricity and consume less amount of detergent. They are easy to carry and handy during camping, trekking, and road trips.

Moreover, the advent and integration of advanced technologies have intensified competition in the US washing machine market with the introduction of pocket washing machines. For instance, Haier Smart Home Co. Ltd. launched CODO, the world's first pocket washing machine, which weighs 7.05 ounces. CODO is a hand-held machine capable of removing stains within 30-120 seconds. Thus, the introduction of portable washing machines will drive the growth of the market during the forecast period.

Major Market Challenge

Fluctuations in raw material prices and operational costs for companies is a challenge that affects the market expansion. The market price depends on many factors, such as labor, raw materials, distribution, and marketing. In addition, market players must spend extensively on R&D to upgrade their products with the latest technologies to survive amid the intense competition. Regular fluctuations in the prices of raw materials pose a major hurdle for manufacturers as they directly impact product prices and may hamper their profit margins. The main raw materials required for washing machine production include plastic, steel, and rubber. The prices of these products are highly sensitive and fluctuate constantly as they are dependent on international prices.

Additionally, market players usually prefer to reduce their profit margins, which affects their operational costs and R&D. Therefore, the fluctuating prices of raw materials used in washing machine production pose a challenge for manufacturers operating in the market to manufacture efficient and innovative appliances at affordable prices. Thus, such concerns are expected to adversely affect the market expansion during the forecast period.

Market Customer Landscape

The market forecasting 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 market growth analysis strategies.

 Customer Landscape

Who are the Major 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.

• AB Electrolux: The company offers washing machines such as 9kg UltimateCare 500 front load washing machine, UltimateCare 300 washer dryer, UltimateCare 500 washer dryer and many more.

The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about 17 market companies, including:

• Alliance Laundry System LLC
• Avanti Products LLC
• Danby
• Felix Storch Inc.
• General Electric Co.
• Godrej and Boyce Manufacturing Co. Ltd.
• Haier Smart Home Co. Ltd.
• LG Electronics Inc.
• Midea Group Co. Ltd.
• Panasonic Holdings Corp.
• Robert Bosch GmbH
• Samsung Electronics Co. Ltd.
• Toshiba Corp.
• Transform Holdco LLC
• Whirlpool Corp.
• Aosom LLC

Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

What is the Largest-Growing Segments in the Market?

The residential segment is estimated to witness significant growth during the forecast period. The growing income of households, coupled with the rapidly changing lifestyle of consumers, has facilitated the demand for washing machines in the residential segment. Major macroeconomic factors that have a prominent impact on the residential washing machine market in US include the expansion of the middle-class population and its growing disposable income and the rapid surge in the purchasing power of Millennials, who are highly educated and independent and their consumption patterns. 

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The residential segment was the largest segment and was valued at USD 3.17 billion in 2018. Furthermore, increasing growth in the residential housing sector is further likely to boost the residential segment. For instance, in November 2023, the US registered a rise in single-unit family housing starts of 15%-20% over October 2023, while permits for single-unit family housing units in November 2023 increased by 0.5%-1% over that in October 2023. Thus, such factors are estimated to drive the growth of the residential segment in the washing machine market in US during the forecast period.

Segment Overview

The market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028. 

• End-user Outlook 
  • Residential
  • Commercial

• Technology Outlook
  • Fully automatic
  • Semi-automatic

• Distribution Channel Outlook 
  • Offline
  • Online

Market Analyst Overview:

The U.S. residential washing machine market is witnessing a remarkable evolution with the introduction of AI-powered washers and dryers, exemplified by Samsung Bespoke AI Laundry. Consumer perception towards home appliances is pivotal, dictating preferences and driving innovations in the fully automatic segment. Lifestyle changes, propelled by the work-from-home culture, are reshaping consumer preferences, prompting strategic initiatives and product developments. Notable innovations include top load washers with 2-in-1 removable agitators and smart washing machines like the Miele W1 and T1 dryers, featuring Wi-Fi access and the Miele Mobile app. Technology insights drive advancements, with a focus on addressing issues such as mold formation, mildew, and chronic back pain, through features like vertical gaskets and ergonomic designs.

Furthermore, distribution channels are adapting to meet consumer needs, with offline retail shops and an expanding online segment, including e-commerce marketplaces. As consumers prioritize convenience, comfort, and environmental sustainability, the U.S. washing machine market continues to embrace AI, IoT, and smart technologies, catering to the needs of modern smart homes and information-centric buying behaviors, while optimizing power and water usage for a more sustainable future. Further, in the United States washing machine market, prevalent home appliances like the W1 washing machine cater to diverse needs, including the top-load segment and front-load washing machines. Distribution channel insights reveal a shift towards online channels, complementing the offline segment.

Additionally, capacity insights highlight the above 8 kg segment and the emergence of dual load/hybrid washing machines. Hygiene remains a priority, addressed by innovations integrating AI and IoT, exemplified by the LG FX washer and dryer with dual heat pump dryer technology. These connected appliances focus on convenience and comfort, aligning with consumer preferences and environmental considerations. Trends include the integration of Internet of Things (IoT), optimization processes, and online distribution channels, targeting various age groups in the consumer durables white good market.

Market Scope
Report Coverage	Details
Page number	140
Base year	2023
Historic period	2018-2022
Forecast period	2024-2028
Growth momentum & CAGR	Accelerate at a CAGR of 5.2%
Market Growth 2024-2028	USD 1.65 billion
Market structure	Fragmented
YoY growth 2023-2024(%)	4.56
Competitive landscape	Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Key companies profiled	AB Electrolux, Alliance Laundry System LLC, Avanti Products LLC, Danby, Felix Storch Inc., General Electric Co., Godrej and Boyce Manufacturing Co. Ltd., Haier Smart Home Co. Ltd., LG Electronics Inc., Midea Group Co. Ltd., Panasonic Holdings Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., Toshiba Corp., Transform Holdco LLC, Whirlpool Corp., and Aosom LLC
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the 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 between 2024 and 2028
• Precise estimation of the market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming market growth and trends and changes in consumer behavior
• Growth of the market across US
• A thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of market companies

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