Major players in the washing machine market are Whirlpool Corporation, Panasonic Corporation, Robert Bosch GmbH, Miele, Haier Group Corporation, Electrolux AB, GE Appliances, AEG, Tecnik, and IFB.

New York, March 24, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Washing Machines Global Market Report 2022" - https://www.reportlinker.com/p06247496/?utm_source=GNW The global washing machines market is expected to grow from $73.31 billion in 2021 to $77.63 billion in 2022 at a compound annual growth rate (CAGR) of 5.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $98.71 billion in 2026 at a CAGR of 6.2%. The washing machine market consists of revenues generated by entities (organizations, sole traders, or partnerships) that carry out design, manufacturing, and sales of washing machines.The market consists of sales of washing machines. A washing machine is an appliance used to wash various types of clothes without applying any physical efforts. The main types of washing machines are fully automatic, semi-automatic and others.A fully automatic washing machine completes the entire clothes washing cycle without any effort from the user. It will rinse, wash, agitate, and spin dry clothes all on its own.When time is up, the user need only retrieve the washed laundry from the machine’s basin, and either place it in an automatic dryer or hang it out. The various products of washing machine include automatic, semi-automatic and dryers that are distributed through E-commerce, retail chains and direct sales. The different technologies of washing machine are top load and front load that are used for residential and commercial applications. Asia Pacific was the largest region in the washing machine market in 2021.Western Europe was the second-largest region in the washing machine market. The regions covered in the washing machine market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. Rapid Urbanization is expected to contribute to the growth of the washing machine market in the forecast period. According to UNCTAD handbook of statistics 2020, globally the share of urban population increased to 55.7% in 2019. It is generally higher in the developed (80.5% in 2019) than in the developing (51.1% in 2019). The growth in the urban population coupled with the rise in disposable incomes and affordability among residents of cities will drive the demand for washing machines during the forecast period. Increasing demand for online on demand laundry services is expected to restrain the market for washing machines in the forecast period.According to a recent study it was revealed that the majority of the millennial populace doesn’t want to invest their valuable time in day-to-day household chores such as washing the clothes. In the USA, the revenue of dry cleaning and laundry services is projected to reach $7,660 million by 2022. Therefore, rising disposable income coupled with hectic lifestyle of individuals will lead to an increase in on demand laundry services, thereby limiting the growth of the market for washing machines. Washing machine manufacturers are increasingly producing energy-efficient products to reduce carbon footprint and enable energy savings for the consumers.The rise of energy-efficient appliances can be attributed to the stringent government regulations on electric home appliances and advances in technology. Energy efficient appliances are designed to utilize minimum energy to complete the required task.Currently, over 80 countries have standards and labels for energy efficient appliances. For example, in the USA, ENERGY STAR certified washing machines use 25% less energy and 33% less water than a standard washing machine. The countries covered in the washing machine market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA. Read the full report: https://www.reportlinker.com/p06247496/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________

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