Availability of technologically-superior washing machines is influencing consumers to upgrade, whereas rise of a significant middle class population in developing countries such as China and India is promoting growth
Albany, NY -- (SBWIRE) -- 03/29/2018 -- A new insightful study titled "Global Market Study on Washing Appliances: Top Load Fully Automatic Washing Machine Product Type Segment to Significantly Contribute to Global Market Revenue Growth" has recently been submitted to the repository of Market Research Reports Search Engine (MRRSE). According to the report, the global washing appliances market is likely to reach nearly US$ 60 Bn by the end of 2026.
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The report offers detailed qualitative and quantitative analysis on the key factors that are promoting the growth of the washing appliances market. According to the report, availability of technologically-superior washing machines is influencing consumers to upgrade, whereas rise of a significant middle class population in developing countries such as China and India is promoting growth. Although the penetration of washing appliances is very high in developed countries, there is a significant section of population in developing countries that has emerged as the target market for manufacturers.
The report segments the global washing appliances market into end user, sales channel, product type and region. The end user segment is further bifurcated into residential and commercial. The sales channel segment is further sub-segmented into direct sale, retail chains and e-commerce. The product type segment is categorized into dryers, frond load fully-automatic, top load semi-automatic and top load fully automatic. Geographically, the market is divided into key regions globally which are North America, Latin America, Europe, Asia Pacific Excluding Japan, Middle East & Africa and Japan.
According to the report, top load fully automatic washing machines account for the highest revenue share in the market. However, demand for front load fully-automatic washing machines is growing at a significant pace, owing to their attributes such as energy efficiency and ease of use. The report projects that front load fully automatic washing appliances will grow at the highest CAGR during the assessment period.
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By end user, demand for washing appliances in the residential segment is remain significant throughout the assessment period. By sales channel, e-commerce is emerging as a lucrative channel, on account of a wide range of products and lesser price offerings than retail chains. By region, North America continues to be the largest market, however, sales are likely to grow at the highest rate in Asia Pacific excluding Japan (APEJ).
The report profiles some of the leading players operating in the market. Some of these players are Whirlpool Corporation, IFB Industries Ltd., LG Electronics, Samsung Electronics Co. Ltd., Electrolux AB, MIRC Electronics Ltd., Panasonic, Videocon Industries Ltd., Haier and BSH Hausgerate.
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