Residential Washing Machine Market Size, Share & Trends Analysis Report By Product (Fully Automatic, Semi-automatic), By Capacity, By Technology, By Distribution Channel, And Segment Forecasts, 2019 - 2025

Industry Insights

The global residential washing machine market size was valued at USD 14.9 billion in 2018. Significant rise in awareness regarding household luxury is expected to be the key factor driving the growth. Furthermore, increasing urbanization coupled with the introduction of advanced and innovative household solutions is projected to fuel the product demand.

Over the past few years, urbanization has been increased significantly which has resulted in the augmented sales of white goods including washing machines, refrigerators, and air conditioners. Moreover, changing lifestyles along with the improved electricity infrastructure across rural as well as urban areas in developing countries including India, China, Indonesia, and Sri Lanka has fueled the demand for household washing machines.

The introduction of innovative technologies has shifted the perception of the consumer regarding home appliances, as they are no longer just a utility product but a necessity of modern times. This shift in consumer preferences is projected to boost product demand in the forthcoming years.

Major manufacturing companies including Whirlpool Corporation; Samsung Electronics Co. Ltd.; LG Electronics Inc.; BSH Home Appliances Group; and IFB Industries Ltd. focus on technological innovation to gain a competitive edge in the market. The introduction of products with the inclusion of technologies such as low-energy and water consumption technology and the Internet of Things (IoT), is expected to drive the product demand, especially in developed markets of Europe and North America.

Furthermore, significantly increasing government spending on rural household development in emerging countries of Asia Pacific including India, Indonesia, and China is expected to open new residential washing machine markets over the forecast period.

Product Insights

Fully automatic washing machines are expected to witness the fastest CAGR of 6.3% from 2019 to 2025 owing to ease of operation and need for lesser human intervention for the product operation. Also, the segment is projected to foresee significant growth over the next few years on account of the ability of the product to offer high energy efficiency and better stain removal as compared to semi-automatic products. Manufacturers focus on new product development, technology innovation, and expanding their manufacturing facilities to cater to the significant rise in demand.

For instance, in June 2018, Godrej Appliances, one of the leading home appliance manufacturer in India installed a manufacturing facility in Mohali, India which has an annual production capacity of four lakh to six lakh units. The company is focusing on capacity expansion to cater to the increasing demand in the region.

Capacity Insights

Washing machines with a load capacity of 6 to 8 kg was the largest segment with a market share of 46.6% in 2018. Moreover, this segment is expected to register the fastest CAGR of 6.3% from 2019 to 2025 as it is the most preferred load capacity for household use. Major manufacturers including IFB Industries Ltd. and Whirlpool Corporation are launching a wide range of washing machines in the 6 kg to 8 kg capacity segment to gain a competitive edge in the market. These new product launches are expected to further boost demand over the forecast period.

Technology Insights

Top load washing machines were the largest technology segment, with a market share of 51.3% in 2018. These products require less space and are inexpensive, which makes them the best choice, especially for the consumers from the developing countries including Indonesia, Vietnam, and Sri Lanka. Furthermore, new product launches in these countries are expected to open new avenues. For instance, in April 2017, PT Sharp Electronics Indonesia, one of the largest electronics companies in Indonesia launched top load and twin-tube washing machines. The company launched a product with a capacity range of 6 kg, 7 kg, 9 kg, and 14 kg.

On the other hand, front load washing machines are gaining popularity owing to their durability, energy efficiency, less water consumption as well as drying time. The segment is expected to foresee a high CAGR over the forecast period.

Distribution Channel Insights

Offline was the largest distribution channel with a market share of 69.1% in 2018. Major manufacturers such as Whirlpool Corporation, Samsung Electronics Co. Ltd., IFB Industries Ltd., and LG Electronics Inc. have their exclusive stores. Over the past few years, these companies have been increasing spending in developing countries such as India, Thailand, and Taiwan for expanding their distribution channel and opening exclusive stores to gain a competitive edge. For instance, in February 2015, Whirlpool Corporation, one of the largest washing machine manufacturers announced to open a series of 15 showrooms across India with an investment of more than USD 226 million by 2017.

An online distribution channel is a fastest-growing segment, witnessing a CAGR of 6.6% from 2018 to 2025 as a result of increasing internet penetration in various countries such as India and China. The online segment helps companies reach a larger customer base. Moreover, the online platform provides product comparison, price, along with easy returns and timely delivery. Major manufacturers are adopting marketing strategies such as product advertisement and celebrity marketing to gain maximum customer penetration. Online giant Flipkart in India which has become a part of Walmart, launches discount offers from time to time to boost online sales, which is anticipated to drive the market growth.

Regional Insights

Asia Pacific is expected to register the fastest CAGR of 6.4% from 2019 to 2025 owing to the new product launches in the developing countries including India, Sri Lanka, and Indonesia with advanced technologies and innovative products. For instance, in December 2018, Xiaomi Global Community launched a fully automatic smart washing machine in China. The product has a load capacity of 10 kg and is equipped with the latest BLDC variable frequency motor and it is priced at around USD 290.

North America generated a revenue of more than USD 3 billion in 2018. High awareness regarding maintaining cleanliness among households of the U.S. and Canada is expected to prompt the utility of washing machines. Furthermore, the growing acceptability of smart gadgets in the abovementioned countries owing to the extensive brand campaigns by white goods manufacturers is expected to prompt the new product launches including front loading machines with digital inverter motor.

Residential Washing Machine Market Share Insights

The market is consolidated in nature owing to the presence of a large number of strong foreign players including Whirlpool Corporation; Samsung Electronics Co. Ltd.; LG Electronics Inc.; and BSH Home Appliances Group. Moreover, new manufacturers such as Xiaomi Global Community are also entering the market with the latest technologies at competitive pricing.

Key manufacturers are adopting market strategies including new product launches, technological advancements, expansion of distribution channels, and mergers and acquisitions, to gain the maximum customer base. For instance, in February 2018, Samsung Electronics Co. Ltd. announced the introduction of IoT ready washing machine featuring the Bixby AI interface. These strategic moves ensure a significant increase in the demand for smart washing machines capable of providing ease of operation.

Major players are increasing their product visibility geographically especially in developed countries to reach the maximum customer base. The establishment of R&D centers for product innovation coupled with strategic partnerships with investment companies to launch new innovative products as per the customer demand pattern is the critical success factor.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For this study, Grand View Research has segmented the global residential washing machine market report based on the product, capacity, technology, distribution channel, and region:

• Product Outlook (Revenue, USD Million, 2015 - 2025)

  • Fully Automatic

  • Semi-automatic

• Capacity Outlook (Revenue, USD Million, 2015 - 2025)

  • Below 6 kg

  • 6 to 8 kg

  • Above 8kg

• Technology Outlook (Revenue, USD Million, 2015 - 2025)

  • Top Load

  • Front Load

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)

  • Offline

  • Online

• Regional Outlook (Revenue, USD Million, 2015 - 2025)

  • North America

    • The U.S.

  • Europe

    • U.K.

    • Germany

  • Asia Pacific

    • China

    • India

  • Central & South America

    • Brazil

  • Middle East & Africa

    • South Africa