Press Release
Press Release
The Asia Pacific accounts for a significant share of the market due to rapid urbanisation in densely populated countries like China and India. Washing machines offer quick and thorough cleaning; they also extend the shelf life of clothes by protecting the fabric.
The growing hospitality sector of ASEAN countries such as Thailand and Indonesia is aiding the washing machine market growth. Hotels, restaurants, and resorts require quick cleaning and rinsing devices, surging washing machine demand.
Technological advancements, such as the infusion of various technologies, further contribute to the market expansion of washing machines. Tilt designs in washing machines free up residential space and provide a personalised washing experience through e-devices, which positively influences the growth of the market.
Advancements in IoT technologies expand the market for washing machines. In August 2023, LG Electronics, Inc. (NYSE: LPL) launched an advanced product line for washing machines named ThinQ UP 2.0, expanding LG’s home appliance business into non-hardware sectors, such as subscription services. This product line offers personalisation through the ThinQ app, and customers have the freedom to change the sequence of installed cycles on their machines, and they can save their preferences on the app.
Customers can pick from a variety of services that can lighten the load of managing and doing domestic duties. These include laundry services for specialised clothes care and time-saving automated services for reordering detergent, as well as subscriptions and smart home services that help enhance the functioning of LG's devices.
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The major players in the global washing machine market are LG Electronics Inc., Samsung Electronics Co., Ltd., BSH Home Appliances Ltd, IFB Appliances, Voltas Limited, Panasonic Corporation, Toshiba Lifestyle Products and Services Corporation, Whirlpool Corporation, Electrolux, and GE Appliances, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Product |
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Breakup by Technology |
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Breakup by Capacity |
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Breakup by End-Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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