The global washing machine market is poised to witness a surge in demand over the forecast period. Technological advancements and an overall improvement in the living standards are expected to drive the demand globally. These have become an essential part of everyday lives of people. Its demand has been increasing globally due to the increasing availability of new innovative models in the market and increasing purchase power across the consumer bases. The consumer electronics industry is flooded with numerous leading electronics brands presenting variety of models to choose from.
Washing machines are available ranging from normal stationary and domestic models to more portable and stylish look models such as front loading, top loading, semi-automatic, and fully automatic. New innovative machines are equipped with wireless Bluetooth technology and a messaging feature that can receive operational assistance and control settings even when the user is away from home. One of the key factors contributing to such growth is the increasing need for energy efficiency. In addition, the introduction of smart washing machine has led to an increase in demand throughout the market.
These appliances can be categorized according to its loading techniques into top loading and front loading. They can also be classified into automatic and semi-automatic, wherein in the latter, there are separate washers and dryers and the machine has to be operated manually to an extent. However, such top loading and semi-automatic machines are becoming extinct due to ease-of-operation in their fully-automated counterparts. These are extensively used in commercial applications as well. These are used in rented Laundromat services and have a huge market for it. In addition, they are required in hotels, hospitals, and hostels to address their laundry requirements.
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Smart washing machines have gradually started penetrating into the market. Leading players have incorporated several sophisticated technologies in their washing machines in a bid to differentiate their products from their competitors’ and consolidate their customer base. Whirlpool Corporation’s smart washing machine connects via Wi-Fi and can be stopped or started remotely. Moreover, it can be operated from a smartphone application, and is programmed to text or email the user when its detergent is low or when the clothes are ready to dry. LG Electronics’ dual-tub machine that allows users to do two loads of laundry simultaneously. The features are aimed at maximum utilization of space and the economy of time with one-dual load feature. In addition, the company claims that its Direct Drive motor technology, which is directly attached to the washer’s drum results in the increase in performance and durability. High cost of smart washing machines and government regulations could pose a challenge to the industry growth.
Asia Pacific region has a strong presence of consumer appliances manufacturers, especially in countries such as Japan, Korea, China, and Taiwan. This has resulted in availability of such advanced appliances at relatively cheaper rates and has subsequently propelled the demand in this region. North American countries such as Canada and the U.S. are experiencing an upsurge in replacement activities for their semi-automatic types, fueling the demand in this region.
European nations are largely focused on creating a sustainable environment and are stressing on using eco-friendly and energy-efficient products. Such advanced and low power-consuming machines are experiencing high demand in this region. Washing machines display an EU Energy Label with grades for energy-efficiency, performance, and spin-efficiency. All appliances for sale must be performance rated A, which prevents manufacturers from compromising on performance in order to improve the energy-efficiency. In addition, these appliances in the U.S. are manufactured to be more energy- and water-efficient according to the Federal standards and are certified by the more strict Energy Star standards.
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