Residential washing machines refer to home appliances that are extensively utilized to wash the laundry with detergent. They consist of fully automatic and semi-automatic machines that help in rinsing, washing, and drying without the need to supervise several operations. Residential washing machines are easier to clean, operate, repair, etc., and save time as compared to other electrical devices. Presently, they are commonly available in numerous sizes and styles depending on the budget, lifestyle, and size of the house. Residential washing machines are commonly accessible via supermarkets and hypermarkets across the globe.
The global residential washing machine market size reached US$ 41.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 54.2 Billion by 2028, exhibiting a growth rate (CAGR) of 4.32% during 2023-2028.
The increasing improvements in rural electrification are primarily driving the residential washing machine market. Additionally, the inflating levels of disposable income and the launch of favorable policies by government bodies across countries to develop rural households are further bolstering the market growth. Besides this, the widespread adoption of residential washing machines, owing to the hectic lifestyles of individuals, enhanced comfort level, convenience, less time for laundry, etc., is acting as another significant growth-inducing factor. Moreover, they also offer developed features, including delayed start, steam cleaning, automatic detergent dispensers, etc., and various temperature settings, wash cycles, and soil level options, which is positively influencing the global market. Apart from this, the introduction of washing machines with energy-efficient settings and smart controls that can be operated remotely via a smartphone app is stimulating the market growth. Furthermore, the easy availability of financing options, including installment plans and credit facilities, is encouraging individuals to purchase high-end product variants, which is projected to fuel the residential washing machine market in the coming years.
The report has been segmented the market into following categories:
Breakup by Product:
Breakup by Technology:
Breakup by Machine Capacity:
Breakup by Distribution Channel:
Breakup by Region:
The report provides a comprehensive analysis of the industry key players listed below:
The Major Players in the market are Amara Raja Batteries Limited, Delta Electronics Inc., Eaton Corporation plc, Energizer Holdings Inc., FIMER S.p.A., LG Energy Solution Ltd., Luminous Power Technologies Pvt. Ltd. (Schneider Electric SE), Panasonic Corporation, Samsung SDI Co. Ltd., SMA Solar Technology AG and Tesla Inc.
