Global Washing Machines Market Trends And Strategies Of Major Players In The Washing Machines Market 2021-2030
6 Sep, 2021
The washing machine market consists of sales of washing machines. A washing machine is an appliance used to wash various types of clothes without applying any physical efforts.
Global Washing Machines Market Size And Drivers:
The global washing machines market is expected to grow from $17.27 billion in 2020 to $18.09 billion in 2021 at a compound annual growth rate (CAGR) of 4.7%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $21.3 billion in 2025 at a CAGR of 4%. %. The growing demand for global washing machines market to meet the needs of the rising for Rapid Urbanization is expected to drive the global washing machines.
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Trends In The Global Washing Machines Market
Increasing demand for online on demand laundry services is expected to restrain the market for washing machines in the forecast period. According to a recent study it was revealed that the majority of the millennial populace doesn’t want to invest their valuable time in day-to-day household chores such as washing the clothes. In the USA, the revenue of dry cleaning and laundry services is projected to reach $7,660 million by 2022. Therefore, rising disposable income coupled with hectic lifestyle of individuals will lead to an increase in on demand laundry services, thereby limiting the growth of the market for washing machines.
Global Washing Machines Market Segments:
The global washing machines market is further segmented –
By Type: Fully Automatic, Semi-Automatic, Others
By Product: Automatic, Semi-Automatic, Dryers
By Sales Channel: E-Commerce, Retail Chains, Direct Sales
By Technology: Top Load, Front Load
By Application: Residential, Commercial
By Geography: The global washing machines market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Washing Machines Market At:https://www.thebusinessresearchcompany.com/report/washing-machines-global-market-report
Washing Machines Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides washing machines market overviews, analyzes and forecasts market size and growth for the global washing machines market, washing machines market share, washing machines market players, washing machines market segments and geographies, washing machines market’s leading competitors’ revenues, profiles and market shares. The washing machines market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.