The demand within the global washing machine market is poised to grow at a stellar pace in the forthcoming years. The domestic sector is the largest consumer of washing machines, and this is an important dynamic of market growth. Furthermore, use of washing machines across laundries has gathered momentum over the past decade. Manual washing of clothes and fabrics has taken a backseat across the residential sector. Increased spending capacity of the masses has helped the vendors in positioning their products to various consumer groups. Therefore, the global washing machine market is set to tread along a lucrative pathway in the years to follow.
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In this blog, TMR Research looks into several key aspects and dynamics pertaining to the growth of the global washing machine market.
- Whirlpool Emerges as a Prominent Player
Whirlpool has been amongst the most-sought after brands for washing machines. Apart from the quality of its machines, the company has also resorted to extensive marketing and promotion of its products. The 360 Bloomwash Pro model of Whirlpool has performed commendably across several regional markets. Other market players are investing in core research in order to develop cutting-edge technologies for the consumers. The next decade would play a crucial role in deciding the growth direction of the global market.
- Availability of New Models across E-Commerce Channels
The market vendors have optimized the use of e-commerce channels for driving sales. Availability of new models across these channels has played an integral role in the growth of the global washing machine market. Furthermore, discounts and grants have been a part of the marketing strategies used by leading vendors in the global washing market.
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Some of the leading players operating in the global washing machine market are Whirlpool Corporation, LG Electronics Inc., Electrolux AB, and Samsung Electronics Co. Ltd.