The
global Washing Machine Market size
is expected to reach USD 42.16 billion by 2025, according to a new report by
Grand View Research, Inc. Increased needs for differentiated products and
services have led to an upsurge in investments for R&D activities. Ongoing
advancements, such as coin laundry, crowdsourced supply, and on-demand
services, are drawing investors toward the laundromat and laundry industries
seeking minimal on-site management obligations. Moreover, the commercial
laundry space is becoming more automated with the introduction of Internet-enabled
features in the washing machines.
Increased
number of dual-income households coupled with insufficient time for laundry has
led to growing demand for laundromats. Additionally, the growth in the
hospitality sector in emerging countries and the advent of on-demand services
are expected to propel the commercial washing machine growth. Furthermore, the
energy labels and energy efficiency policies have enabled manufacturers to
focus on the development of energy-efficient products.
The
growth in online laundry services is expected to have a positive impact on the
commercial washing machine industry. The commercial washing machine market is
characterized by the presence of key players who provide conventional washing
and laundry services. However, the startups in this industry are struggling to
fill in the gap by providing comprehensive solutions at a reasonable price.
Browse
Details of Report @
http://www.grandviewresearch.com/industry-analysis/washing-machine-market
http://www.grandviewresearch.com/industry-analysis/washing-machine-market
Further key findings from the report suggest:
- The fully-automatic
washing machine industry is expected to be the fastest-growing segment
owing to the growing shortage of time for household chores
- The demand
for washing large volume of load is providing traction to the growth of
the washing machines having capacity of over 8 kg
- The
residential sector is anticipated to grow at a CAGR of over 5% throughout
the forecast period due to the transition from semi-automatic to fully
automatic washing machines.
- The strong
growing demand for residential products in the UAE and Saudi Arabia is
contributing to the growth in the MEA region
- The major
players include LG Electronics Inc., Samsung Electronics Co. Ltd.,
Whirlpool Corporation, and Electrolux AB
- Emphasis on
R&D is a major strategy adopted by the key players to generate
financial profits and address the environmental and social issues through
technologies and products
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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