Global Washing Appliances Market Overview:
Washing appliances are electronic equipment that is used to eliminate the manual working of cleaning and washing clothes. There are automatic and semi-automatic washing appliances available with front load, top load, and twin load features. It enhances the cleaning effectiveness of clothes removing stains on clothes without applying physical efforts. The washing appliances or machines have become a need in residential as well as commercial applications offering convenient chores.
Growth Drivers
- Demand for the Faster and Effective Washing Activities for Cleaner Results
- Need for Reducing Manual Working and Efforts in Washing
- Growing Automation in Household Chores
Market Trends
- Availability of Washing Appliances in Various Range of Sizes and Portability Options
Roadblocks
- High Maintenance and Repair Cost Associated with the Washing Appliances
Opportunities
- Rising Investment of People in Automatic Washing and Cleaning Appliances
- Surging Demand for Washing Appliances for the Commercial Applications Like in Hotels, Lodges and Laundry Services Shops in Developing Regions
Challenges
- Stiff Competition in the Washing Appliances Market
Competitive Landscape:
Some of the key players profiled in the report are Whirlpool Corporation (United States), LG Electronics Inc. (South Korea), Electrolux AB (Sweden), Samsung Group (South Korea), General Electric Company (United States), Siemens AG (Germany), BSH Hausgerate GmbH (Germany), Panasonic Corporation (Japan), Haier Group Corporation (China), Konka Group Co., Ltd. (China) and Midea Group (China). Considering Market by Washer Capacity, the sub-segment i.e. 4 to 6 Kg will boost the Washing Appliances market. Considering Market by Sales Channel, the sub-segment i.e. Offline Retail will boost the Washing Appliances market. Considering Market by Operation, the sub-segment i.e. Fully-Automatic will boost the Washing Appliances market.
On 12th October 2020, Konka Group Co., Ltd Smart Electrical Appliances Co., Ltd. acquired Beko Changzhou Plant and entered into a strategic cooperation agreement with Arcelik (the parent company of Beko). By signing this agreement, both parties agree to share their developments related to systematic washing machine design.
"On 1 October 2019, the European Commission adopted new ecodesign measures for washing machines and washer-driers. The new regulation will better reflect users' needs and will also include elements to further enhance the reparability and recyclability of appliances. For a period of 10 years, a list of spare parts, such as door hinges and seals, door locking, plastic peripherals, such as detergent dispensers, have to be available to all, while professional repairers will have access to the spare parts and information needed for the repair and professional maintenance of washing machines and washer-dryers."
What Can be Explored with the Washing Appliances Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Washing Appliances Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Washing Appliances
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Washing Appliances market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Washing Appliances market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Washing Appliances Manufacturers, Washing Appliances International Traders, Washing Appliances Distributors and Suppliers, Research and Development Instituites, Potential Investors, Regulatory Bodies and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.