According to the latest report by IMARC Group “Washing Machine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, The global washing machine market exhibited stable growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 3.5% during 2021-2026.
A washing machine is a commonly used electronic appliance that assists in the performing laundry of clothes and fabrics. It also aids in spinning fabrics at high speed and removing dirt from the fiber. It comprises several internal components, including tub, balance rings, tub guards and pumps. Presently, it is widely available in semi-automatic, fully automatic, and top- and front-load variants across the globe.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Due to sedentary lifestyles, the on-demand laundry and dry-cleaning services are gaining traction among the masses. This represents one of the key factors bolstering the growth of the market. Moreover, as a washing machine helps in reducing manual labor,it finds extensive application in the residential and commercial sectors worldwide. Apart from this, leading manufacturers are developing energy-efficient variants with minimal carbon footprints. They are also focusing on integrating smartphone applications with advanced solutions for real-time alerts and remote access. This is anticipated to drive the market further.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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