The washing equipment market consists of sales of washing machines, dishwashers, industrial washers, laundry folding machines, and detergent dispensers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Sizing and Forecast
The washing equipment market size has grown steadily in recent years. It will grow from $8.89 billion in 2023 to $9.24 billion in 2024 at a compound annual growth rate (CAGR) of 3.9%. The growth in the historic period can be attributed to the rising growth in urbanization and demand for washing appliances, rising electricity demand, growing urbanization, and rising disposable incomes worldwide.
The washing equipment market size is expected to see steady growth in the next few years. It will grow to $10.83 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to growing consumers’ preference for automating domestic tasks, the rapid growth of in-store displays and demonstrations, the expansion of laundry appliances, and the rising growth of the apparel and fashion industry. Major trends in the forecast period include smart washing machines, energy efficiency, water conservation, sustainable materials, high-capacity machines, and advanced detergent delivery systems.
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Segmentation & Regional Insights
The washing equipment market covered in this report is segmented –
1) By Product Type: Washer, Dryer, Dry Cleaning Equipment
2) By Sales Channel: E-Commerce, Retail Chains, Direct Sales
3) By End-Use: Hotel, Hospital, Laundromat, Other End-Uses
North America was the largest region in the washing equipment market in 2023. The regions covered in the washing 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
The rising growth of the apparel and fashion industries is expected to propel the growth of the washing equipment market going forward. The apparel and fashion industries encompass the design, production, marketing, and sale of clothing, footwear, and accessories. The apparel and fashion industries are expanding due to increasing consumer demand for diverse, trendy, and sustainable clothing and accessories driven by globalization, technological advancements, and rising disposable incomes. Washing equipment is essential in the apparel and fashion industries for pre-washing fabrics, garment finishing, and ensuring the cleanliness and quality of textiles before they reach consumers. For instance, in March 2024, according to the Federal Reserve Bank of St. Louis, a US-based central bank, personal consumption expenditures on clothing, footwear, and related services increased from $518,323 billion in 2022 to $535,762 billion in 2023. This represents an increase of approximately 3.36%. Therefore, rising growth in the apparel and fashion industries is driving the growth of the washing equipment market.
Key Industry Players
Major companies operating in the washing equipment market are Samsung Electronics Co. Ltd, Robert Bosch GmbH, Siemens AG, LG Corporation, Panasonic Holdings Corporation, Haier Inc., Whirlpool Corporation, Sharp Corporation, Electrolux AB, Miele Inc., Indesit Company, The Maytag Corporation, Ariston Holding NV, Alliance Laundry Systems, The Hoover Company, Fisher & Paykel Technologies, IFB Appliances, Voltas Beko, Dexter Laundry, Candy Inc., Daewoo Electronics, Asko, Kenmore
The washing equipment market report table of contents includes:
1. Executive Summary
- Washing Equipment Market Characteristics
- Washing Equipment Market Trends And Strategies
- Washing Equipment Market – Macro Economic Scenario
- Global Washing Equipment Market Size and Growth
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32. Global Washing Equipment Market Competitive Benchmarking - Global Washing Equipment Market Competitive Dashboard
- Key Mergers And Acquisitions In The Washing Equipment Market
- Washing Equipment Market Future Outlook and Potential Analysis
- Appendix
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