Washing Machine Market Trends

Growth Drivers

• High Preference rate- The washing machine's high preference rate can be attributed to its capacity to save time, eliminate physical labor, and shorten drying times. Also, the market for washing machines is being driven by the rising number of people participating in sports like football, cricket, tennis, and other games, which results in more laundry from sporting disciplines.

• Rising awareness influencing demand forecasting- Growing demand and usage of smart washing machines by small and medium-sized businesses is being caused by increased awareness of these machines. For example, the hotel, travel, and tourism sectors have a huge demand for smart washing machines, which helps fuel the expansion of the global market.

• Increasing Focus on Sustainability- The emphasis on sustainability and energy efficiency has accelerated many manufacturers to produce washing machines with larger capacities with more efficient dryers and washers that can benefit both the environment and the wallet.

Challenges

• Rising Consumption of Power - The market demand for washing machines is being adversely affected by the high power consumption that can be the main source of the rising power costs. The amount of electricity used by the washing machine goes without saying that speed corresponds with energy consumption which is also entirely dependent on the load, the number of wash programs, and the dry technique.

            For instance, washing machines use over 253 kWh of power annually.

• Environmental Concerns Related to High Usage of Water and Energy
• Varying Prices of Raw Materials such as Steel, and Plastic Can Make it Difficult to Decide Standard Price