Washing Machine Market Size & Share, by Product (Fully Automatic, Semi-Automatic, Dryer); Capacity (Below 6 Kg, 6.1-8 Kg, Above 8 Kg); Technology (Smart Connected, Conventional); End-Use (Commercial, Residential); Distribution Channel (Supermarket And Hypermarket, Specialty Store, Department Store, E-Commerce); Type (Sheet Door, Glass Door) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 5411
  • Published Date: Nov 28, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2024-2036

Washing Machine Market size is poised to reach USD 103 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of washing machine was USD 60 Billion. The reason behind the growth is due to the growing apparel and fashion industry across the globe. The increased consumption of apparel and fashion garments will increase the demand for washing machines, driving market growth. Furthermore, using promoting marketing strategies by apparel and fashion brands such as buy one get one free, seasonal discounts, cashback offers, and others has encouraged consumption. According to recent data, the global apparel industry is predicted to generate over USD 1 trillion in revenue in 2023—around a 13% rise over the previous year.

The growing usage of advanced technologies such as the Internet of Things (IoT) is believed to fuel the market growth. Manufacturers of washing machines are now providing IoT-enabled services to improve consumer satisfaction by notifying them when the wash cycle on their load of laundry is complete. For instance, in 2021 Samsung introduced an IoT-enabled washing machine that includes more than 20 models, all equipped with artificial intelligence (AI) features that promise to provide 45% more fabric care while saving time and energy and also offer an adaptable washing procedure.


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Washing Machine Market: Key Insights

Base Year

2023

Forecast Year

2024-2036

CAGR

~5%

Base Year Market Size (2023)

~ USD 60 Billion

Forecast Year Market Size (2036)

~ USD 103 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Washing Machine Sector: Growth Drivers and Challenges

Market-Growth-Drivers

Growth Drivers

  • High Preference rate- The washing machine's high preference rate can be attributed to its capacity to save time, eliminate physical labor, and shorten drying times. Also, the market for washing machines is being driven by the rising number of people participating in sports like football, cricket, tennis, and other games, which results in more laundry from sporting disciplines.
  • Rising awareness influencing demand forecasting- Growing demand and usage of smart washing machines by small and medium-sized businesses is being caused by increased awareness of these machines. For example, the hotel, travel, and tourism sectors have a huge demand for smart washing machines, which helps fuel the expansion of the global market.
  • Increasing Focus on Sustainability- The emphasis on sustainability and energy efficiency has accelerated many manufacturers to produce washing machines with larger capacities with more efficient dryers and washers that can benefit both the environment and the wallet.

Challenges

  • Rising Consumption of Power - The market demand for washing machines is being adversely affected by the high power consumption that can be the main source of the rising power costs. The amount of electricity used by the washing machine goes without saying that speed corresponds with energy consumption which is also entirely dependent on the load, the number of wash programs, and the dry technique.

            For instance, washing machines use over 253 kWh of power annually.

  • Environmental Concerns Related to High Usage of Water and Energy
  • Varying Prices of Raw Materials such as Steel, and Plastic Can Make it Difficult to Decide Standard Price


Washing Machine Segmentation

Product (Fully Automatic, Semi-Automatic, Dryer)

The fully automatic segment is estimated to hold 55% share of the global washing machine market in the coming years owing to the increasing personal disposable income of individuals. Moreover, this has led to a rise in purchasing power, especially in developing nations which is expected to fuel the demand for fully automatic washing machines. The growing discretionary money combined with people's busy lifestyles has given more people the means to buy luxuries such as fully automatic washing machines that boast a plethora of functions, including flexi wash technology and germ clean, which are a lot more practical with washers that are fully automatic operate by simply pressing a button. Global disposable incomes and family spending were estimated to be increased by over 2% in 2022.

End-Use (Commercial, Residential)

Washing machine market from the residential segment is set to garner a notable share. A washing machine is an indispensable household device in each contemporary home, that is built to save time and effort during the laundry process and is remarkably convenient and simple to operate to clean textiles such as clothing, linens, and other textiles.

Capacity (Below 6 Kg, 6.1-8 Kg, Above 8 Kg)

The 6.1-8 Kg segment is anticipated to gain a substantial market share in the coming years. Modern households are not complete without their machines since they provide time-saving and convenient features and a 6.1-8 kilogram fully automatic washing machine benefits large families by helping wash all the dirty clothing in one go and being ergonomically friendly while providing excellent wash quality.

Technology (Smart Connected, Conventional)

The smart connected segment in the washing machine market is poised to garner a prominent share during the forecast timeframe. Similar to computers and smartphones, smart washing machines or IoT-enabled washing machines are gadgets that can connect to a Wi-Fi network and are designed to perform at their best for personalized options and efficient, on-the-spot laundry care whereby the customers can choose the kind of wash cycle they want for their fabric and monitor the process remotely by receiving notifications.

Our in-depth analysis of the global market includes the following segments:

Product

  • Fully Automatic
  • Semi-Automatic
  • Dryer

Capacity

  • Below 6 Kg
  • 6.1-8 Kg
  • Above 8 Kg

Technology

  • Smart Connected
  • Conventional

End-Use

  • Commercial
  •  Residential

 Distribution Channel

  • Supermarket And Hypermarket
  • Specialty Store
  •  Department Store
  • E-Commerce

Type

  • Sheet Door
  • Glass Door

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Washing Machine Industry - Regional Synopsis

APAC Market Forecast

The washing machine market in Asia Pacific is predicted to account for the largest share of 50% by 2036 propelled by the rising urbanization. The exposure to new lifestyles and trends that come with living in metropolitan areas increases demand for washing machines in the region.

Urban areas with a higher number of nuclear families and working professionals are exposed to new lifestyles and trends, and the increasing cost-effectiveness is expected to raise the market demand for washing machines that are both efficient and quick. In India, more than 460 million people live in urban areas and the figure is increasing annually by over 2%.

North American Market Statistics

The North America washing machine market is estimated to be the second largest, during the forecast timeframe led by increasing outdoor & recreational activities. As more and more people in the region will be involved in outdoor activities, they tend to generate more dirty and sweaty clothes which is expected to result in higher demand for washing machines. In 2023, more than 95% of Americans indicated that they intend to engage in outdoor activities in the future year, up from around 90% the previous year.

Research Nester
Washing-Machine-Market-size
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Companies Dominating the Washing Machine Landscape

top-features-companies
    • Alliance Laundry Systems LLC
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Girbau North America
    • Fisher & Paykel Appliances Ltd
    • GENERAL ELECTRIC COMPANY
    • Haier Inc.
    • IFB Industries Limited
    • LG Electronics
    • SAMSUNG
    • MIRC ELECTRONICS LIMITED
    • Whirlpool Corporation

In-the-news

In The News

  • Haier Inc. announced the launch of the 306 Washing Machines Series with the industry-first Ultra Fresh Air function and other cutting-edge innovations including Near Zero Pressure, Anti-Bacterial Pulsator, Auto Restart, Oceanus wave drum, and Quick Wash to preserve the freshness of the clothing after every cycle and answer customer concerns about fabric maintenance and intelligent washing.
  • IFB Industries Limited partnered with Xeros Technology Group to introduce the finest 11 kg domestic washing machines that integrate Xeros' Care technology and are intended for usage in both small businesses and large residential homes to lessen the environmental impact of garments laundering.

Author Credits:  Abhishek Verma, Hetal Singh


  • Report ID: 5411
  • Published Date: Nov 28, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing fashion industry across the globe and the growing usage of advanced technologies such as the Internet of Things (IoT) are the major factors driving the growth of the market.

The market size of Washing Machine is anticipated to attain a CAGR of 5% over the forecast period, i.e., 2024-2036.

The major players in the market are Girbau North America, Fisher & Paykel Appliances Ltd, GENERAL ELECTRIC COMPANY, Haier Inc., IFB Industries Limited, LG Electronics, SAMSUNG, MIRC ELECTRONICS LIMITED, Panasonic Corporation, Whirlpool Corporation.

The fully automatic segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.5) Which region will provide more business opportunities for the growth of the washing machine market in the future?

The market in the Asia Pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Washing Machine Market Report Scope
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