Home Household machines $150.9 Billion Global Household Laundry Equipment Industry to 2031 – Identifying Growth Segments for Investment – ResearchAndMarkets.com

$150.9 Billion Global Household Laundry Equipment Industry to 2031 – Identifying Growth Segments for Investment – ResearchAndMarkets.com

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DUBLIN–(BUSINESS WIRE)–The report “Household Laundry Equipment Global Market Report 2022, By Type, By Technology, By Distribution Channel” has been added to from ResearchAndMarkets.com offer.

This report provides strategists, marketers, and senior management with the critical information they need to assess the global Home Laundry Equipment market emerging from the COVID-19 lockdown.

The global household laundry equipment market is expected to grow from USD 101.43 billion in 2021 to USD 110.84 billion in 2022 at a compound annual growth rate (CAGR) of 9.3%. The growth is mainly due to companies reorganizing their operations and recovering from the impact of COVID-19, which had previously led to restrictive containment measures involving social distancing, remote working and the closure of business activities that resulted in operational challenges. The market is expected to reach $150.93 billion in 2026 at a CAGR of 8.0%.

Companies cited

  • LG Electronics

  • Whirlpool Corporation

  • Haier Company

  • Electrolux AB

  • Panasonic Company

  • BSH home appliance group

  • Haier Group Company

  • honey

  • Siemens AG

  • Toshiba Company

  • General electricity company

  • Hisense Co.Ltd.

  • Hitachi Ltd.

  • Koninklijke Philips

  • Hamilton Beach

  • Group SEB

  • Joy Mangano

  • Kenmore

  • HAIN

  • Air conditioning

  • fridja

  • CUORI ELECTRICAL APPLIANCES

  • Instant steam

  • sear

  • Asko

  • Smeg

  • flyco

  • Application

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  • Identify growth segments for investment

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The household laundry equipment market consists of revenue generated by entities (organizations, sole proprietorships, or partnerships) that engage in the design, manufacture, and sale of household laundry equipment. The market also includes sales of household-type laundry equipment, including washing machines, dryers, ironers and other laundry equipment.

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 physical effort. The technologies used are automatic, semi-automatic/manual and others. Household laundry equipment is distributed through direct sales, retail, e-commerce and other channels.

Asia-Pacific was the largest region in the household laundry equipment market in 2021. Western Europe was the second largest region in the household laundry equipment market. Regions covered in Household Laundry Equipment Market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Rapid urbanization is expected to contribute to the growth of household laundry equipment over the forecast period. Globally, the percentage of the population living in urban areas is projected to increase from 56.2% in 2020 to 68% by 2050. Urban population growth, coupled with rising disposable incomes and affordability for city dwellers, will drive the demand for household laundry equipment.

Growing demand for on-demand online laundry services is expected to restrain the home laundry equipment market over the forecast period. The on-demand laundry services market is expected to be supported by stable economic growth forecasts in many developed and developing countries. The International Monetary Fund (IMF) forecasts that global real GDP growth will be 3.7% over 2019 and 2020, and 3.6% from 2021 to 2023. In addition, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast. period. For example, China is expected to register GDP growth of 6.2% in 2019. Steady economic growth, increasing internet penetration and increasing disposable income, coupled with a hectic lifestyle, will lead to an increase in services on-demand laundry, thereby limiting the growth of the household washing machine market.

Home laundry equipment manufacturers are increasingly producing energy efficient products to reduce the carbon footprint and save energy for consumers. The rise of energy-efficient appliances can be attributed to strict government regulations on home appliances and technological advancements. Energy-efficient devices are designed to use minimal energy to accomplish the required task. Currently, more than 80 countries have standards and labels for energy efficient appliances. For example, in the United States, ENERGY STAR certified washing machines use 25% less energy and 33% less water than a standard washing machine.

For more information about this report visit https://www.researchandmarkets.com/r/c4bron