How has the washing machines market evolved, and where is it heading next?
The washing machines market size has grown steadily in recent years. It will grow from $69.67 billion in 2024 to $73.11 billion in 2025 at a compound annual growth rate (CAGR) of 4.9%. The growth in the historic period can be attributed to strong economic growth in emerging markets, rapid urbanization and rapid technological adoption, and a rise in disposable income.
The washing machines market size is expected to see steady growth in the next few years. It will grow to $85.58 billion in 2029 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to the increasing smart homes, increasing adoption of 5G networks, increasing population growth, and increasing urbanization. Major trends in the forecast period include artificial intelligence (AI) powered washing machines, smart technology, new product launches and innovation, IoT in washing machines, strategic collaborations and partnerships to drive innovations, and health-focused washing machines.
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How have varous drivers impacted the growth of the washing machines market?
Rapid Urbanization is expected to contribute to the growth of the washing machine market in the forecast period. For instance, in January 2024, according to the Independent Commission for Aid Impact (ICAI), a UK-based information and services platform, by 2050, over two-thirds (approximately 67%) of the global population is projected to live in urban areas. Additionally, in April 2023, according to data published by the World Bank, a US-based international financial institution that provides loans and grants to the governments of low- and middle-income countries, 56% of the world’s population or 4.4 billion inhabitants lived in urban areas in 2023, and this number is expected to more than double its current size 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 washing machines market during the forecast period.
What are the primary segments of the washing machines market?
The washing machines market covered in this report is segmented –
1) By Type: Fully Automatic, Semi-Automatic, Others
2) By Sales Channel: E-Commerce, Retail Chains, Direct Sales
3) By Technology: Top Load, Front Load
4) By Application: Residential, Commercial
Subsegments:
1) By Fully Automatic: Front Load Washing Machines, Top Load Washing Machines
2) By Semi-Automatic: Top Load Semi-Automatic Washing Machines, Twin Tub Washing Machines
3) By Others: Portable Washing Machines, Washer-Dryer Combos, Commercial Washing Machines
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Which firms are leading the washing machines market?
Major companies operating in the washing machines market include Samsung Electronics Co Ltd, IFB Industries Ltd., Whirlpool Corporation, LG Electronics Inc., Robert Bosch GmbH, Midea Group, Panasonic Corporation, Haier Group Corp, Sharp Corporation, Onida, Godrej, BPL, Siemens AG, Little Swan, TCL Corporation, Bsh Hausgeräte Gmbh, Tps Industriewaschmaschinen, Und Anlagenbau Gmbh, General Electric (GE), Speed Queen, Amana Corporation, Kenmore, Maytag, Miele, Frigidaire, Asko Appliances, Ariston, Brandt Appliance, Crosley Company, Electrolux, Fisher and Paykel, Hoover Limited, Magic Chef, H-Buster, Philco, Hisense, Advanced Electronics Company, TOSHIBA
How will industry trends affect the trajectory of the washing machines market?
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.
Which geographic trends are shaping the washing machines market, and which region has the highest market share?
The countries covered in the washing machines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
What Does The Washing Machines Market Report 2025 Offer?
The washing machines market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A washing machine is a household appliance that cleans clothing and textiles by using water, detergent, and mechanical action in a rotating drum, available in top-loading and front-loading models with various wash cycles and advanced technologies to simplify the laundry process.
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