Bizizz Market Research has recently published a research report, “Residential Washing Machine Market by Product Type (Semi-Automated, Fully-Automated), by Capacity (Below 6 kg, 6 to 8 kg, and Above 8 kg), by Technology (Front Load and Top Load), by Distribution Channel (Online and Offline), and Region-Global Industry Trends, Estimation & Forecast, 2019 – 2027”.
As per the report, Global Residential Washing Machine Market was valued at US$ XX Bn in 2018 and it is anticipated to reach at market value of US$ 15.3 Bn by 2027, witnessing a CAGR of 6.2 % during the forecast period. Key driver of the market are rapid urbanization and product innovation, and rising popularity of smart home appliances.
The manufacturers are continuously introducing new products with addition of advanced features such as implementation of Internet of Things, low water and energy consumption which is expected to surge the demand for these products across the globe.
The Residential Washing Machine Market Is Anticipated To Register A CAGR Of Over 10.5% During The Forecast Period.
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By Product Type, Fully Automated Washing Machine Segment Held A Prominent Share In Global Residential Washing Machine Market In 2018.
Fully automated washing machines are gaining popularity due to the superior features associated with these products as compared to the manual counterparts such as faster wash cycle and wide product range. These products are usually cheaper than front loader washing machines. Also, these products lighter in weight which makes it more convenient among end-users.
North AmericaIs Anticipated To Dominate The Global Residential Washing Machine Market During The Forecast Period.
North America is anticipated to lead the global market throughout the forecast period. The region accounted for 34.2% share in 2018. The growth of the region is majorly fueled by rising demand for smart home appliances across the region. Moreover, rising awareness regarding hygiene and cleanliness is expected to create growth opportunities for the regional growth. Asia Pacific is projected to grow rapidly over the forecast timespan. Rising number of middle-class population and increasing income per capita is anticipated to surge the demand for residential washing machines in emerging economies including India, China, and Malaysia.
Global residential washing machine market is highly fragmented with several global and region and global players. These companies are offering advanced residential washing machines to maintain their competitive advantages in the market.
Prominent players operating in the Global Residential Washing Machine Market are: GE Appliances, Panasonic Corporation, Miele And Cie, Whirlpool Corporation, Siemens AG, BSH Home Appliances Group, Whirlpool Corporation, LG Electronics Inc., and Samsung Electronics Co. Ltd, among others.
Impact of COVID-19 on Economy, Industry and Company
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in demand & supply gap, production delay and weak consumer demand of end products across industries.
At Bizizz Market Research, our analyst has done extensive research across industries and identified various methodologies which would assist C-Level executives to counter this ongoing threat and make informed business decisions.
Areas at which Bizizz Market Research would help decision makers are:
a) Insights on current demand & supply gap analysis
b) Impact on value chain and supply chain and strategies adopted to off set its impact
c) Impact on Industry / company revenue and predictive intelligence on forecast sales
d) In-depth analysis on market segmentation – both value and volume analysis
e) Market assessment, regional
and country attractiveness, competitive benchmarking
and entry strategy
f) Prioritizing strategies and
how it would impact company’s short to long-term business
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