CLEVELAND, Jan. 24, 2020 /PRNewswire/ -- Demand for laundry equipment in the US is forecast to grow 1.7% per year in nominal terms through 2023, according to Laundry Equipment: United States, a report recently released by Freedonia Focus Reports. Housing completions and sales of existing homes are expected to remain at high levels, supporting demand. Expansion in disposable personal income levels will continue to support home remodeling and replacement unit purchases. However, relatively slow growth in completions will limit faster gains in laundry equipment demand, as will market saturation and price increases. In the commercial laundry equipment sector, growth in multiple-unit housing and gains in the foodservice and accommodation industries will increase utilization, thus resulting in higher sales.
US shipments of laundry equipment are projected to fall less than 1.0% per year in nominal terms through 2023. The declines are largely attributable to the high base year in 2018, which was above trend. In addition, persistent competition from imported appliances will continue to drag down output levels over the forecast period. Nevertheless, growing domestic demand and protection of the domestic washing machine industry via tariffs will help prevent faster declines.
These and other key insights are featured in Laundry Equipment: United States. This report forecasts to 2023 US laundry equipment demand and shipments in nominal US dollars at the manufacturer level. Total demand is segmented by product in terms of:
- parts and accessories
- drycleaning machinery
- other machinery, such as feeders, flatwork ironers, and presses
To illustrate historical trends, total demand, total shipments, the various segments, and trade are provided in annual series from 2008 to 2018.
The scope of this report includes both household and commercial (e.g., laundromat machines, uniform and linen laundry machinery) laundry equipment. Portable electric irons are not counted in demand and shipments figures. In addition, used/secondhand appliances are excluded from the scope of this report. Re-exports are excluded from demand and trade figures.
More information about the report is available at:
About Freedonia Focus Reports
Each month, The Freedonia Group – a division of MarketResearch.com – publishes over 20 new or updated Freedonia Focus Reports, providing fresh, unbiased analysis on a wide variety of markets and industries. Published in 20-30 pages, Focus Report coverage ranges from raw materials to finished manufactured goods and related services such as freight and construction. Additional Consumer Goods reports can be purchased at Freedonia Focus Reports or MarketResearch.com.
Analysis is intended to guide the busy reader through pertinent topics in rapid succession, including:
- total historical market size and industry output
- segmentation by products and markets
- identification of market drivers, constraints, and key indicators
- segment-by-segment outlook in five-year forecasts
- a survey of the supply base
- suggested resources for further study
SOURCE The Freedonia Group