Global Washing Machine Market to Grow with Improvements in Domestic Sector

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.

  1. 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.

Washing Machine Market: Changing Lifestyle Stoking Demand

San Francisco, California, November 14, 2017: A recently added report by TMR Research, titled, “Washing Machine Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017–2025,” throws light on key aspects of the market such as its size, competitive dynamics, and growth prospects. The report begins with basic definitions and a lowdown on classifications and applications. It studies the development history of the market along with its current competitive landscape. Beside, each key region is examined in-depth in the market to help companies uncover lucrative markets and according pitch their products to consumers.

Owing to the various convenience accorded by washing machines, their demand is soaring by the day thereby benefitting the market. With a growing number of women, on whom the onus of household work rests, entering the workforce every year such machines are seeing increasing uptake. Other factors positively impacting the market are the rising disposable incomes of people, particularly in developing nations and the changing lifestyle wherein they are quickly adopting time-saving modern machines for day-to-day household tasks.

Also positively impacting demand is the continued thrust on product development by key players to come up with more sophisticated products using cutting-edge technology. A recent noticeable trend in the global washing machine market is the use of technology that brings down the use of water for washing. Further, smart washing machines too are gaining traction in recent times because of the rising uptake of Internet of Things (IoT) and burgeoning usage of smartphones. Smart can be operated remotely and one can receive notifications on smartphones.

A noteworthy trend in the laundry sector is the shift from coin laundries to card-based or digital laundry payment services. This has served to up the demand for smart connected washing machines further.
From a geographical standpoint, Asia Pacific is expected to steal the show because of the clutch of the developing economies with large population in the region. Some such nations are China, India, Vietnam, and Indonesia. The increasing spending capacity of the people and the changing lifestyle on account of the rising western influence is expected to provide a major fillip to the market in Asia Pacific. In 2015, Asia Pacific accounted for a substantial share in the global washing machine market.

North America is another key market which trails Asia Pacific, because of the increasing demand for smart washing machine to replace their traditional counterparts. In the U.S., the demand has grown dramatically with the elevating awareness of products bearing the ENERGY STAR certification.

Most manufacturers in the world washing machine market are counting on the formulation of holistic distribution mediums with a view to widen their clientele base. Some of the interesting strategies adopted by the top vendors in the global market are substantial focus on supply chain management through vital investments and improvement of product assortments.

Some of the prominent participants in the global washing machine market are Electrolux AB, Samsung Electronics Co. Ltd., LG Electronics Inc., and Whirlpool Corporation. The report studies their product offerings, pricing and other strategies, sales and revenues, market shares, and prospects going forward. To uncover the opportunities and threats awaiting them in the near future, it leverages market-leading analytical tools.

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