Top 10 Companies Dominating the Global Washing Machine Market Landscape

The global washing machine market reached a value of USD 64.84 billion in 2023. The market is projected to grow at a CAGR of 7.1% in the forecast period of 2024-2032 to reach over USD 120.26 billion by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by rising technological advancements and to save laundry time.

Innovation in smart home technologies is boosting the demand for washing machines. The adoption of voice control technologies, such as Alexa and Google Assistant is enabling consumers to control washing machines remotely. Smart technology enables consumers to save time and effort thereby positively influencing the demand for washing machines. The rising affordability of washing machines combined with changing consumer lifestyles and urbanisation are boosting the sales of washing machines, thus propelling the washing machine market growth.

Manufacturers are producing sophisticated washing machines which provide consumers with various benefits of energy-saving, low detergent use, low maintenance, lower use of water and should be capable of efficiently washing different types of clothes. Another prominent trend in the washing machine market is the demand for low-noise and automatic washing machines. These machines allow consumers to run laundry at any convenient time and achieve completely dried clothes at the end of the washing cycle. Further, a washing machine integrated with a dryer is convenient for consumers for whom outdoor drying of clothes is inconvenient, especially during the rainy season and high weather.

The market is characterised by a range of developments:  

Top 10 Washing Machine Companies in the World:

LG Electronics Inc.

LG Electronics Inc. manufactures products and delivers services to improve consumer lifestyles. The company provides home appliances, consumer electronics, B2B solutions, digital signage, air conditioning, and vehicle components. LG Electronics has over 142 local subsidiaries across the globe with around 74,000 employees. The company conducts operations in Asia, Europe, the Middle East and Africa, North America, South America, and Central America and the Caribbean.

Samsung Electronics Co., Ltd.

Samsung Electronics is a prominent producer of electronics, such as television sets, smartphones, wearable devices, tablets, digital appliances, medical devices, as well as network systems, semiconductors, and LED solutions. Samsung is also a key player in the Internet of Things sector. The company produces a range of washing machines to help consumers save energy, and laundry time.

BSH Home Appliances Ltd

BSH Home Appliances is a renowned home appliance manufacturer globally and is also Europe’s largest home appliance manufacturer. The company owns an extensive portfolio of 11 brands, including Bosch, Siemens, Gaggenau, Neff, Thermador, Solitaire, Constructa, Pitsos, Balay, Coldex, Profilo, and Junker label. Bosch is a major domestic appliances producer in Europe and is currently focused on expanding its consumer base in China and emerging markets.

IFB Appliances

IFB Appliances is a producer of washing machines, clothes dryers, microwave ovens, dishwashers, air conditioners, refrigerators, chimneys, and modular kitchens. Over 3 million households in India own IFB products. The company has a service network of 250 franchises and 2,200 service engineers. The company is also engaged in the automotive sector, supplying fine-blanked automotive components motors and seating systems to OEMS. Additionally, the company also produces seafood products.

Voltas Limited

Voltas Limited is part of the leading Indian multinational Tata Group operating in more than 100 countries across 6 continents. Voltas has over 25,000 customer touchpoints across India. Voltas is a producer of a range of cooling and home appliances including air conditioners, refrigerators, washing machines, microwaves, water dispensers, and dishwashers, among others. Voltas Beko, a home appliance brand formed by Voltas and Beko of Arçelik Group, has 22 production facilities across 8 countries, has 20 research and development and design centres and has a 150% growth rate for home appliances in India.

Panasonic Corporation

Panasonic Corporation is a leading technology manufacturer, producing a range of integrated solutions across several markets, including avionics, energy, and utilities, residential, automotive, food services and hospitality, retail, logistics, manufacturing, government and public safety, and sports and entertainment. The brands include Panasonic Automotive, Panasonic Connect, Panasonic Industry, and Panasonic Energy. The company’s independent brands include Technics, Hussmann, and Delta Engineering, among others.

Toshiba Lifestyle Products and Services Corporation

Toshiba Lifestyle Products & Services Corporation (TLSC) and its subsidiaries are a subsidiary of the Midea Group. The company manufactures a range of home appliances, including washing machines, refrigerators, dishwaters, and water heaters. The washing machines are integrated with the company’s ‘Great Waves Technology’ to provide the machine with variable wash speeds.

Whirlpool Corporation

Whirlpool Corporation is a renowned manufacturer of laundry and kitchen appliances. Its prominent brands include Whirlpool, KitchenAid, Brastemp, Amana, Maytag, Consul, Bauknecht, Indesit, Yummly, JennAir, and InSinkErator. In 2022, the company earned approximately USD 20 billion in annual sales. Whirlpool owns 56 manufacturing and technology research centres globally. The company operates in North America, Asia, Latin America, Europe, and the Middle East and Africa.

Electrolux

Electrolux Group is a global appliance company, with leading brands, such as Electrolux, Frigidaire, and AEG. In 2022, the brands accounted for 35%, 31%, and 15% of the group sales, respectively. Other brands in the Electrolux Group, include Westinghouse, Fensa, Zanussi, Continental, Mademsa, Gafa, Anova, and Kwikot. The company sells household products, including washing machines in approximately 120 markets per year. In 2023 Electrolux Group made sales of SEK 134 billion.

GE Appliances

GE Appliances is the fastest-growing appliance manufacturing company in the United States. The company’s appliances are used in around 50% of United States households. GE Appliances builds 2,333 units per hour and delivers an appliance every 4.5 seconds. The company also manufactures a range of washing machines, including top-loading, front-loading, stackable machines, and portable washing machines.