Washing Machine Market Analysis

Global Washing Machine Market Overview

Washing Machine Market Size was valued at USD 57.2 Billion in 2022. The Washing Machine Market industry is projected to grow from USD 59.77 Billion in 2023 to USD 85.00 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.50% during the forecast period (2023 - 2032). The digital revolution, industrialization, shifting consumer purchasing patterns, and manufacturing demand in developing countries are the key market drivers enhancing market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Washing Machine Market Trends

• Rising growth of urbanization and the rising apparel and fashion industry are driving the market growth

Market CAGR for the Washing Machine Market is being driven by the rising growth of urbanization and the rising apparel and fashion industry. The increase in demand for project and task management solutions is a driving force behind the growth in market revenue. Enhanced urban infrastructure, a proliferation of corporate establishments, and the presence of quality educational institutions in urban centers have led to a notable increase in urban population, consequently fueling market growth. According to data from the United Nations Conference on Trade and Development (UNCTAD), the urban population in Asia and Oceania grew from 43.3% of the total population in 2011 to 50.0% in 2021. Moreover, the abundance of hotels, motels, and resorts in urban areas, which require efficient laundry cleaning processes, has contributed to heightened demand. Additionally, the market is experiencing growth driven by the demand for energy-efficient smart washing machines.

The substantial consumption of clothing and fashion items is expected to drive the market further, necessitating an increased demand for cloth washers and dryers. According to figures released by the Federal Reserve Bank of St. Louis in 2022, personal consumption expenditure on apparel, footwear, and related services in the U.S. reached USD 50.68 billion, up from USD 47.58 billion in 2021. Furthermore, attractive marketing strategies employed by apparel and fashion brands, such as buy-one-get-one-free offers, seasonal discounts, gift cards, and more, have contributed to increased consumption.

As a result, it is anticipated that throughout the projection period, demand for the washing machine market will increase due to the rising growth of urbanization and rising apparel and fashion industry. Thus, driving the Washing Machine Market revenue.

Washing Machine Market Segment Insights

Washing Machine Market Type Insights

The Washing Machine Market segmentation, based on Type includes Glass doors and Sheet doors. The glass door segment dominated the market, accounting for 58% of market revenue (20.0 billion). Glass doors provide users with a unique advantage – the ability to see the washing process in action. This transparency allows individuals to monitor the condition of their clothes as they are being washed. It's particularly valuable when dealing with delicate fabrics or garments with specific care instructions, ensuring they are treated with the utmost care.

Figure 1: Washing Machine Market, by type, 2022 & 2032 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Washing Machine Market Product Insights

The Washing Machine Market segmentation, based on Product, includes Top Load and Front Load. The front load segment dominated the market, accounting for 55% of market revenue (18.7 billion). Front-load washing machines are typically more energy-efficient than their top-load counterparts. They use less water and detergent and often have high spin speeds, which reduce the moisture content in clothes, leading to shorter drying times. Energy efficiency is a crucial factor for consumers looking to reduce utility bills and minimize their environmental impact.

Washing Machine Market Technology Insights

The Washing Machine Market segmentation, based on Technology, includes Automatic and Semi-automatic. The automatic segment dominated the market, accounting for 60% of market revenue (20.4 billion). Automatic washing machines come with a variety of pre-set wash programs designed for different types of fabrics and laundry loads. These programs ensure that clothes are treated with the appropriate water temperature, wash duration, and agitation level, resulting in optimal cleaning without the risk of damage.

Washing Machine Market Capacity Insights

The Washing Machine Market segmentation, based on Capacity, includes Below 8 KG and Above 8 KG. The below 8 KG segment dominated the market, accounting for 65% of market revenue (22.1 billion). Smaller washing machines tend to be more energy and water-efficient compared to their larger counterparts. This efficiency appeals to environmentally conscious consumers who want to minimize their ecological footprint and reduce utility bills. Washing machines with capacities below 8 kilograms are often more affordable both in terms of the initial purchase price and long-term operational costs. This affordability is attractive to budget-conscious consumers.

Washing Machine Market Distribution Channel Insights

The Washing Machine Market segmentation, based on Distribution Channels, includes Online and Offline. The online segment dominated the market, accounting for 62% of market revenue (21.1 billion). Online platforms provide access to an extensive range of washing machine models, capacities, brands, and price points. Shoppers can easily compare different options and find the one that best suits their needs and budget. Online retailers typically provide comprehensive product information, including specifications, customer reviews, and expert ratings. This information empowers consumers to make informed purchasing decisions.

Washing Machine Market Application Insights

The Washing Machine Market segmentation, based on Application, includes Residential and Commercial. The residential segment dominated the market, accounting for 62% of market revenue (21.1 billion). The population continues to grow, leading to an increase in the number of residential households. As more households are established, the demand for washing machines for personal use naturally rises. Modern lifestyles are characterized by busyness and time constraints. Residential consumers seek appliances that simplify daily chores, and washing machines offer a convenient solution. The desire for more leisure time is driving the demand for residential washing machines.

Washing Machine Market Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. North America presently stands as the world's largest regional economy and is poised to maintain its influential role in the economic landscape, particularly in the advancement of new technologies and the provision of investment capital. Additionally, the continuous construction of new residential properties has spurred demand for home appliances, including washing machines. Furthermore, data released by Census.Gov in October 2020 revealed a significant number of new housing completions in the United States, totaling 1,343,000. This development is a positive indicator for the washing machine industry, suggesting an anticipated increase in users and, consequently, the projection of further sales growth.

Further, the major countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: WASHING MACHINE MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe's Washing Machine Market accounts for the second-largest market share as the European region has benefited from favorable conditions, including low interest rates and a strong economic environment. Consumers in this market, particularly in the home appliance sector, have shown a keen interest in products such as Washing Machines. Notably, a prominent trend observed in the European washing machine market is the introduction of technologically advanced products. Further, the German Washing Machine Market held the largest market share, and the UK Washing Machine Market was the fastest-growing market in the European region.

The Asia-Pacific Washing Machine market is expected to grow at the fastest CAGR from 2023 to 2032. China has played a dominant role in the home appliances market within the Asia-Pacific region, strengthening its position considerably. Notably, the subsidy program initiated in 2009 to encourage the sale of large appliances in rural areas of China has significantly expanded the penetration of such products. This, in turn, has boosted the potential for replacing home appliances in the Chinese market. Moreover, China’s Washing Machine market held the largest market share, and the Indian Washing Machine market was the fastest-growing market in the Asia-Pacific region.

Washing Machine Market Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the Washing Machine market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Washing Machine industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Washing Machine industry to benefit clients and increase the market sector. In recent years, the Washing Machine industry has offered some of the most significant advantages to modern households and consumers. Major players in the Washing Machine market, including Whirlpool Corporation (U.S.), Samsung Electronics Co., Ltd. (South Korea), LG Electronics Inc. (South Korea), Electrolux AB (Sweden), Haier Smart Home Co., Ltd. (China), Godrej Industries Ltd. (India), IFB Industries Ltd. (India), Panasonic Corporation (Japan), Mirc Electronics Limited (India) and Bsh Hausgeräte GmbH (Germany), are attempting to increase market demand by investing in research and development operations.

Samsung Electronics Co Ltd, a subsidiary of the Samsung Group, is a prominent manufacturer in the consumer electronics, information technology, mobile communications, and device solutions sectors. The company offers a diverse product portfolio encompassing televisions, refrigerators, washing machines, air conditioners, medical devices, printers, monitors, computers, network systems, digital cameras, LCD and LED panels, mobile phones, smartphones, tablets, and associated accessories. Samsung serves a wide range of industries, including retail, hospitality, healthcare, finance, education, transportation, and government.. In May 2022, Samsung unveiled its 2022 lineup of AI-enabled bilingual Al EcoBubble fully automatic front-load washing machines. This new range introduces the Al Wash feature, enhancing the ease of the laundry process. Additionally, it includes larger capacity models, accommodating loads of up to 12 kg, to meet the evolving preferences of consumers seeking larger washing machines.

LG Electronics Inc., a subsidiary of LG Corp, is a prominent manufacturer and distributor of consumer electronics and home appliances. The company offers an extensive product range, including televisions, monitors, personal computers, refrigerators, audio equipment, beauty appliances, video equipment, washing machines, dishwashers, air purifiers, dehumidifiers, residential and commercial air conditioners, and vacuum cleaners. In addition to home appliances, LG Electronics also provides vehicle components, smartphones, information displays, solar panels, substrate and material solutions, motor and sensor components, optic solutions, automotive components, and camera modulesIn April 2022, LG Electronics introduced its new 2022 Home Appliances lineup, featuring an array of Smart Home Appliances. This latest collection sets a new standard with its sophisticated designs, catering to a premium lifestyle. The 2022 lineup includes visually stunning refrigerators like the InstaView Door-in-DoorTM and Frost-Free Refrigerators, Al Direct Drive Washing Machines, PuricareTM Wearable Air Purifier, VIRAAT Air Conditioners, Juv+UF Water Purifiers, and a new range of Charcoal Microwaves.

Key Companies in the Washing Machine Market include

• Whirlpool Corporation (U.S.)


• Samsung Electronics Co., Ltd. (South Korea)


• LG Electronics Inc. (South Korea)


• Electrolux AB (Sweden)


• Haier Smart Home Co., Ltd. (China)


• Godrej Industries Ltd. (India)


• IFB Industries Ltd. (India)


• Panasonic Corporation (Japan)


• Mirc Electronics Limited (India)


• Bsh Hausgeräte GmbH (Germany)

Washing Machine Industry Developments

August 2020: In August 2021, In August 2020, Panasonic expanded its washing machine product line by introducing 21 new models, which encompassed both fully automatic and top-load washing machines, all boasting a five-star rating. These models are equipped with built-in heater technology and feature Stain Master+ functionality, contributing to effective bacteria elimination.

January 2020: In January 2020, Xiaomi unveiled the Mija smart washing machine and dryer pro. This particular model offers remote control capabilities and intelligent detergent dispensing features.

Washing Machine Market Segmentation

Washing Machine Market Type Outlook

• Glassdoor


• Sheet door

Washing Machine Market Product Outlook

• Top Load


• Front Load

Washing Machine Market Technology Outlook

• Automatic


• Semi-automatic

Washing Machine Market Capacity Outlook

• Below 8 KG


• Above 8 KG

Washing Machine Market Distribution Channel Outlook

• Online


• Offline

Washing Machine Market Application Outlook

• Residential


• Commercial

Washing Machine Market Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America