Household laundry equipment is defined as a device that helps wash clothes or other textiles without the user exerting much physical effort.
The household laundry equipment market size has grown strongly in recent years. It will grow from $101.96 billion in 2023 to $108.11 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to electrification of households, changing consumer lifestyles, urbanization and smaller living spaces, increase in the number of nuclear families worldwide, increasing awareness of energy conservation.
The household laundry equipment market size is expected to see steady growth in the next few years. It will grow to $131.11 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to smart and connected appliances, energy efficiency and sustainability, health and hygiene trends, urbanization and space constraints, laundry automation. Major trends in the forecast period include front-load washing machines, washer-dryer combos, smart laundry apps, faster and more efficient cycles, laundry sanitization features.
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Segmentation & Regional Insights
The household laundry equipment market covered in this report is segmented –
1) By Type: Washing Machines, Ironers, Dryers, Others – Household Laundry Equipment
2) By Technology: Automatic, Semi-Automatic/ Manual, Other Technologies
3) By Distribution Channel: Direct Selling, Retail, E-commerce, Other Distribution Channels
Asia-Pacific was the largest region in the household laundry equipment market in 2023. Western Europe was the second-largest region in the household laundry equipment market. The regions covered in the household laundry equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Rapid Urbanization Is Expected To Contribute To The Growth Of Household Laundry Equipment In The Forecast Period. For Instance, In April 2022, According To The World Economic Forum, A Switzerland-Based Independent International Organization, More Than 4.3 Billion People, Or 55% Of The World’S Population, Lived In Urban Settings, And The Number Is Expected To Rise To 80% By 2050. The Growth In The Urban Population, Coupled With The Rise In Disposable Incomes And Affordability Among Residents Of Cities, Will Drive The Demand For Household Laundry Equipment
Key Industry Players
Major companies operating in the household laundry equipment market include LG Electronics, Whirlpool Corporation, Haier Corporation, Electrolux AB, Panasonic Corporation, BSH Home Appliances Group, Miele, Siemens AG, Toshiba Corporation, General Electric Company, Hisense Co. Ltd., Hitachi Ltd, Koninklijke Philips, Hamilton Beach, Groupe SEB, Joy Mangano, Kenmore, HAAN, Conair, Fridja, CUORI ELECTRICAL APPLIANCES, Jiffy Steamer, Sears, Asko, Smeg, Flyco, Samsung, Electrolux, Robert Bosch, Fisher & Paykel, Maytag, Amana, Speed Queen, Indesit Company, Candy Group, Ariston Thermo Group, Beko, Gorenje, Hisense, Sharp Corporation, Vestel, Dexter Laundry, Girbau, Schulthess Maschinen AG, Alliance Laundry Holdings LLC
The household laundry equipment market report table of contents includes:
1. Executive Summary
2. Household Laundry Equipment Market Characteristics
3. Household Laundry Equipment Market Trends And Strategies
4. Household Laundry Equipment Market – Macro Economic Scenario
5. Global Household Laundry Equipment Market Size and Growth
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31. Global Household Laundry Equipment Market Competitive Benchmarking
32. Global Household Laundry Equipment Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Household Laundry Equipment Market
34. Household Laundry Equipment Market Future Outlook and Potential Analysis
35. Appendix
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