Press release

Global Residential Washing Machine Market 2019-2023| Increased Adoption of Integrated Smart Home Technology to Boost Growth| Technavio

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The global residential washing machine market is expected to post a CAGR
close to 6% during the period 2019-2023, according to the latest market
research report by Technavio.

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Technavio has published a new market research report on the global residential washing machine marke ...

Technavio has published a new market research report on the global residential washing machine market from 2019-2023 (Graphic: Business Wire)

Smart homes and smart home technologies, such as smart hubs and
Al-enabled smart home controllers, have captured the interest of
consumers. Also, uninterrupted and easy connectivity to smart appliances
is an essential feature that helps consumers perform tasks remotely. The
vendors of household appliances have also considered this growing trend
and featured such technologies in their products. For instance,
Whirlpool offers voice control integration with Alexa and Google
Assistant, that helps in controlling microwaves, ovens, and a
combination washer-dryers, and dishwashers. Thus, integration with these
smart tools has consistently contributed to reducing customer effort and
is expected to positively influence the demand for smart appliances,
including residential washing machines.

As per Technavio, the advent of portable washing machines will have a
positive impact on the market and contribute to its growth significantly
over the forecast period. This global
residential washing machine market 2019-2023
report also analyzes other important trends and market drivers that will
affect market growth over 2019-2023.

Global residential washing machine market:
Advent of portable washing machines

Portable washing machines have recently emerged as an ideal solution for
laundry washing. These machines are usually smaller in size and can be
transported with ease as they weigh as little as 43 pounds. Also, a
majority of these machines do not require electricity and consume less
detergent and are easy to carry and handy during camping, trekking, and
road trips. Moreover, the advent of new technologies has intensified
market competition with the introduction of pocket washing machines. For
instance, in 2015, Haier Group launched CODO, the world’s first pocket
washing machine weighing 200g. CODO is a hand-held machine capable of
removing stains in merely 30-120 seconds. Therefore, such innovations
are expected to boost market growth for the residential washing machine
market during the forecast period.

The intense competition in the global residential washing machine
market, coupled with the rapid expansion of technology, has revitalized
the taste and preferences of the buyer in a way that the customer has
shifted preference to purchase more technically updated appliances. This
change in buying preference of consumers has led to the expansion of
product portfolios and compelled vendors to aggressively spend on R&D to
sustain in the aggressively competitive environment
,” says a senior
analyst at Technavio.

Global residential washing machine market:
Segmentation analysis

This market research report segments the global residential washing
machine market by technology (fully-automatic, and semi-automatic), by
product (front load, and top load), by distribution channel (offline,
and online), and geographical regions (APAC, Europe, North America, MEA,
and South America).

The APAC region led the market in 2018, followed by Europe, North
America, MEA and South America respectively. During the forecast period,
the APAC region is expected to maintain its dominance over the global
market and register the highest incremental growth. This can be
attributed to the increasing income of people, which encourages them to
spend more on household appliances.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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