Categories: Industry

Global Washing Machines Market Forecast 2023-2032

The Washing Machines Global Market Report 2023 by The Business Research Company, provides washing machines market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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https://www.thebusinessresearchcompany.com/report/washing-machines-global-market-report

According to The Business Research Company’s Washing Machines Global Market Report 2023, the market size is expected to grow from $66.43 billion in 2022 to $70.38 billion in 2023 at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global washing machines is expected to grow to $84.54 billion in 2027 at a CAGR of 4.7%.

Rapid Urbanization is expected to contribute to the growth of the washing machine market in the forecast period.

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The washing machines market is segmented:

1) By Type: Fully Automatic, Semi-Automatic, Other Types

2) By Product: Automatic, Semi-automatic, Dryers

3) By Sales Channel: E-Commerce, Retail Chains, Direct Sales

4) By Technology: Top Load, Front Load

5) By Application: Residential, Commercial

Washing machine manufacturers are increasingly producing energy-efficient products to reduce their carbon footprint and enable energy savings for consumers. The rise of energy-efficient appliances can be attributed to the stringent government regulations on electric home appliances and advances in technology. Energy efficient appliances are designed to utilize the minimum amount of energy to complete the required task. Currently, over 80 countries have standards and labels for energy efficient appliances. For example, in the USA, ENERGY STAR certified washing machines use 25% less energy and 33% less water than a standard washing machine.

The washing machines market report table of contents includes: