Home Household machines Global Household Laundry Equipment Market Report 2022

Global Household Laundry Equipment Market Report 2022

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Major players in the home laundry equipment market include LG Electronics, Whirlpool Corporation, Haier Corporation, Electrolux AB, Panasonic Corporation, BSH Home Appliances Group, Haier Group Corporation, Miele, Siemens AG, Toshiba Corporation, and General Electric Company.

New York, March 25, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “Household Laundry Equipment Global Market Report 2022” – https://www.reportlinker.com/p06247445/?utm_source=GNW

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%.

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 applying any 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 home laundry equipment market in 2021. Western Europe was the second largest region in the home 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.

Rising demand for online on-demand laundry services is expected to restrain the household laundry equipment market over the forecast period. The on-demand laundry services market is expected to be aided by steady economic growth predicted 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.

The countries covered in the household laundry equipment market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, Kingdom United and the United States.

Read the full report: https://www.reportlinker.com/p06247445/?utm_source=GNW

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