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Washing Machine Market Size
- Report ID: GMI6386
- Published Date: Aug 2023
- Report Format: PDF
Washing Machine Market Size
Washing Machine Market was valued at USD 65.8 Billion in 2022 and is anticipated to register a CAGR of over 4% by 2032 due to rapid urbanization and rising disposable income across both developed economies.
According to UNFPA facts and figures, more than half of the world’s population now lives in urban areas, and this number will surge to about 5 billion by 2030. On the other hand, as per TAKE-PROFIT.ORG, Disposable Personal Income in India rose to USD 3318.931 Billion in 2022.
The increasing urban population and rising income levels in many regions have resulted in higher consumer spending on appliances, including washing machines. Besides, the expansion of the middle-class population in emerging economies translated into a larger customer base for washing machine manufacturers.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Washing Machine Market Size in 2022: | USD 65.8 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 4% |
| 2032 Value Projection: | USD 96.2 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 300 |
| Tables, Charts & Figures: | 742 |
| Segments covered: | Type, Product, Technology, Capacity, Distribution Channel, Application, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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According to the U.S. Census Bureau of the Department of Commerce, the e-commerce estimates in the Q1 2023 recorded a 7.8% growth from Q1 2022, while total retail sales rose 3.4% in the same period. In Q1 2023, E-commerce sales accounted for 15.1% of total sales.
However, changes in lifestyle and preferences, such as the rise of minimalist living or an increasing focus on sustainable practices, might impact the demand for washing machines.
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Washing Machine Market Scope
