Market Trends of Laundry Appliances Industry
Increase in the Number of Working Women Leads to Increase in Demand for Residential Washing Machine
The following factors drive global residential washing machine demand: an increase in the number of women working, an Increase in disposable income combined with a lack of time for laundry, rapid urbanization, a drop in the selling price of residential washing machines, Deterioration of demand due to laundry shops offering better laundry service in comparison to washing machine, Increase of online laundry services, Technological advancement and innovation in washing machine and Better washing machine that conserves energy and water.
Laundry and dry cleaning services are preferred over hand washing because of the labor-intensive nature of hand washing. Hence, high-capacity washing machines are being developed to meet the growing demand for laundry. Steam pressing is another new trend in washing machines that makes clothes wrinkle-free. The demand for mechanical laundry & dry cleaning is growing in tune with the population growth in cities and towns. Lack of time for household chores such as washing has increased due to an increase in the number of women working. The availability of laundry shops is a hindrance to the growth of the washing machine market.
Rising Demand of Washing Machines is Driving the Market
Smart washing machines are becoming increasingly popular due to the growing trend of smart homes. Smart washing machines with integrated features are driving market growth. Smart washing machines can be easily controlled through mobile apps, making them more comfortable to use. Smart washing machines are also driving market growth due to the growing demand to eliminate the need to manually change washing settings. Smart washing machines that can automatically dry, wash, and fold are expected to drive market growth in the coming years.
Industry growth is expected to be driven by the introduction of new technologies, such as ultrasonic technology, to transform water into micron particles that can be used to iron clothes. The integration of IoT into smart washing machines and folding machines, as well as laundry racks, is also expected to contribute to the industry's growth in the coming years.
Semi-automatic washing machines are popular due to their user-friendliness, especially among elderly people, which has increased demand. A large number of consumers prefer to have separate drying machines. Asia Pacific has the largest market share. Washing machines are suitable and easy to use, which is why they are popular in Asia Pacific. Due to people's busy lifestyles, they don't have time to do laundry, which is why the demand for washing machines is increasing. The region's growing economies, rapid urbanization, and growing middle-class population also contribute to the industry's growth.
