IMARC Group has recently released a new research study “Residential Washing Machine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What Are The Growth Prospects Of The Residential Washing Machine Industry?
The global residential washing machine market size reached US$ 39.38 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 51.91 Billion by 2027, exhibiting a growth rate (CAGR) of 4.50% during 2022-2027.
What is a residential washing machine?
Washing machines are household appliances commonly used to wash laundry with detergent. They include semi and fully automatic machines that help with washing, rinsing, and drying without requiring manual control of different processes. They save time and are easier to clean, operate, and repair than other electrical devices. At present, residential washing machines are available in numerous sizes and styles based on the budget, lifestyle, and size of the customer’s house.
What Are The Key Factors Driving In The Residential Washing Machine Market?
The global residential washing machine market is primarily driven by rising product adoption due to continuous improvements in rural electrification. Additionally, several favorable initiatives taken by governments of numerous countries to develop rural households are positively influencing the market growth.
Moreover, the rising demand for residential washing machines due to the hectic lifestyles of individuals and less time for laundry coupled with enhanced comfort levels and convenience offered by them is another major growth-inducing factor. Furthermore, several key players are investing in research and development (R&D) activities to launch innovative product variants that are highly efficient in saving water and electricity, thereby contributing to market growth. Other factors, including the rising affordability of washing machines, inflating consumer disposable incomes, rapid expansion in the e-commerce sector, and continual technological advancements, are also anticipated to propel the market growth.
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Who Are The Key Players/Companies In The Global Residential Washing Machine Market?
AIQ Synertial Ltd., Codamotion-Charnwood Dynamics Ltd., Motion Analysis Corporation, Noraxon USA Inc., Northern Digital Inc, OptiTrack (NaturalPoint Inc.), PhaseSpace Inc., Phoenix Technologies Inc., Qualisys AB, Vicon Motion Systems Ltd. and Xsens Technologies BV.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Product:
· Fully Automatic
· Semiautomatic
· Dryer
Breakup by Technology:
· Top Load
· Front Load
Breakup by Machine Capacity:
· Below 6 Kg
· 6 to 8 Kg
· 8 Kg and Above
Breakup by Distribution Channel:
· Supermarkets and Hypermarkets
· Specialty Stores
· Department Stores
· E-Commerce
· Others
By Geography:
· North America (United States, Canada)
· Europe (Germany, France, United Kingdom, Italy, Spain, Others)
· Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
· Latin America (Brazil, Mexico, Others)
· Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights Of The Report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company’s expertise.
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