$132.28+ Billion Worldwide Household Laundry Equipment Industry to 2032: Rapid Urbanization is Expected to Contribute to Growth

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Feb 22, 2023, 05:50 ET

DUBLIN, Feb. 22, 2023 /PRNewswire/ -- The "Household Laundry Equipment Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

The global household laundry equipment market will grow from $95.91 billion in 2022 to $103.24 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The household laundry equipment market is expected to grow to $132.28 billion in 2027 at a CAGR of 6.4%.

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Major players in the household laundry equipment market are LG Electronics, Whirlpool Corporation, Haier Corporation, Electrolux AB, Panasonic Corporation, BSH Home Appliances Group, Haier Group Corporation, Miele, Siemens AG, Toshiba Corporation, and General Electric Company.

The household laundry equipment market consists of the sales of semi-automatic washing machines, fully automatic washing machines, steam iron, dry iron, garment steamers, electric dryers, gas dryers, dry-cleaning machines, wringers, and other household laundry equipment. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Household laundry equipment is defined as a device that helps in washing clothes or other textiles without the user exerting much physical effort.

Asia Pacific was the largest region in the household laundry equipment market in 2022. Western Europe was the second-largest region in the household laundry equipment market. The regions covered in the household laundry equipment market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The main types of household laundry equipment are washing machines, ironers, dryers, and other household laundry equipment. A washing machine is a machine that is used to wash clothes without applying any physical effort The technologies used are automatic, semi-automatic/ manual, and others. The household laundry equipment is distributed through direct selling, retail, e-commerce, and other channels.

Rapid Urbanization is expected to contribute to the growth of household laundry equipment in the forecast period. Globally, the percentage of the population living in urban areas is expected to increase from 56.2% in 2020 and reach 68% by 2050. The growth in the urban population coupled with the rise in disposable incomes and affordability among residents of cities will drive the demand for household laundry equipment.

Increasing demand for online on-demand laundry services is expected to restrain the market for household laundry equipment in the forecast period. The on-demand laundry services market is expected to be aided by a stable economic growth forecast in many developed and developing countries. The International Monetary Fund (IMF) predicts that the global real GDP growth will be 3.7% over 2019 and 2020 and 3.6% from 2021 to 2023.

Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth, increasing internet penetration, and rising disposable income coupled with the hectic lifestyle of individuals will lead to an increase in on-demand laundry services, thereby limiting the growth of the market for household washing machines.

Household laundry equipment manufacturers are increasingly producing energy-efficient products to reduce carbon footprint and enable energy savings for the consumers. The rise of energy-efficient appliances can be attributed to the stringent government regulations on electric home appliances and advances in technology. Energy efficient appliances are designed to utilize minimum energy to complete the required task. Currently, over 80 countries have standards and labels for energy-efficient appliances. For example, in the USA, ENERGY STAR-certified washing machines use 25% less energy and 33% less water than a standard washing machine.

The countries covered in the household laundry equipment market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

Key Topics Covered:

1. Executive Summary

2. Household Laundry Equipment Market Characteristics

3. Household Laundry Equipment Market Trends And Strategies

4. Household Laundry Equipment Market - Macro Economic Scenario

4.1 COVID-19 Impact On Household Laundry Equipment Market

4.2 Ukraine-Russia War Impact On Household Laundry Equipment Market

4.3 Impact Of High Inflation On Household Laundry Equipment Market

5. Household Laundry Equipment Market Size And Growth

5.1. Global Household Laundry Equipment Historic Market, 2017-2022, $ Billion

5.1.1. Drivers Of The Market

5.1.2. Restraints On The Market

5.2. Global Household Laundry Equipment Forecast Market, 2022-2027F, 2032F, $ Billion

5.2.1. Drivers Of The Market

5.2.2. Restraints On the Market

6. Household Laundry Equipment Market Segmentation

6.1. Global Household Laundry Equipment Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Washing Machines
Ironers
Dryers
Others - Household Laundry Equipment

6.2. Global Household Laundry Equipment Market, Segmentation By Technology, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Automatic
Semi-Automatic/ Manual
Other Technologies

6.3. Global Household Laundry Equipment Market, Segmentation By Distribution Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

Direct Selling
Retail
E-commerce
Other Distribution Channels

7. Household Laundry Equipment Market Regional And Country Analysis

7.1. Global Household Laundry Equipment Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

7.2. Global Household Laundry Equipment Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/yqp96m-laundry?w=5

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