The washing machine market is projected to reach USD 117.54 Billion by 2032.

From GlobeNewswire: 2024-12-12 08:00:00

The washing machine market was valued at USD 62.22 Billion in 2023 and is projected to reach USD 117.54 Billion by 2032, with a CAGR of 7.4%. Technological advancements and multifunctional designs are driving growth, catering to diverse household needs and enhancing convenience. Key players include LG, Samsung, Whirlpool, and more.

Automatic washing machines accounted for 57% of market revenue in 2023, driven by convenience. Dryers are experiencing rapid growth, with Whirlpool’s Smart All-in-One Washer and Dryer leading the trend. The 6.1 to 8 kg segment is popular for its efficiency and water-saving features, while above 8 kg machines are growing in demand for larger households.

North America leads the washing machine market with a focus on energy efficiency and sustainability. The Asia Pacific region is expected to grow at a rapid pace of 9.25% due to urbanization and the demand for compact, time-saving appliances. Consumers prioritize modern home solutions that conserve resources and save money.

Recent developments include Electrolux’s new range of smart laundry appliances focused on reducing environmental impact, BSH Home Appliances’ campaign for Bosch’s Front Loading washing machines, and LG’s customer-centric innovation. These initiatives highlight the industry’s commitment to sustainability and user satisfaction. The latest report on the washing machine market includes production volumes by region in 2023, design trends, fab capacity utilization, and supply chain metrics. The competitive landscape, market segmentation by product type, technology type, capacity type, end-use, and application type are also covered. Regional analysis, company profiles, and use cases are included for a comprehensive overview. For more information, visit the link provided.

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