New York, May 31, 2022 (GLOBE NEWSWIRE) -- The U.S. dishwasher market is projected to witness a CAGR of approximately 7.2% over the forecast period of 2022-2032 to reach a valuation of US$ 16.76 Bn by 2032. Factors such as the HoReCa sector's growing penetration, fast-rising spending on home renovations, and growing importance of smart kitchens are all anticipated to aid sales growth.
The Internet of Things (IoT) has risen in popularity among residential users as a result of the benefits gained by connecting household goods to the Internet. IoT connects products, software algorithms, services, and end users, allowing data to flow freely and making real-time choices easier. It has been shown to increase the quality and consistency of automation systems
Several large-, small-, and mid-size firms across the U.S. are aggressively investing in the IoT industry. With most businesses switching to IoT, it's expected to have an impact on a variety of industries, including lighting, HVAC, healthcare, security, and entertainment.
Over the years, technical progress has constantly pushed advancements in domestic kitchen appliances. Advanced technologies are built into smart kitchen equipment to make their use easier, less time-consuming, and less tedious in nature. This aspect is expected to drive dishwasher demand growth in the U.S. in the future years.
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Key Takeaways from Market Study
- Increasing Internet penetration and consumer enthusiasm toward connected devices are laying the foundation for the growth of the U.S. dishwasher market.
- The market is currently experiencing a shift in consumer preference from conventional to smart dishwashers.
- As per the analysis, sales of dishwashers in the residential category are expected to reflect high growth.
- Built-in dishwashers account for around half of the overall market share in the United States.
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“The dishwasher market in the U.S. has gone through a significant transformation, from a functional product to a stylish one. Consumers prefer varieties of a product category for different reasons. Manufacturers are therefore launching different dishwasher offerings to cater to this factor," says an analyst at Persistence Market Research.
Key Market Players
The report highlights important trends in the competitive scenario of the dishwasher market in the United States, along with the highlights of differential marketing strategies used by players in the market. Established players in the U.S. market account for 60% to 65% market share.
Some of the key players identified across the value chain include BSH Home Appliances Corporation, LG appliance, Whirlpool Corporation, Electrolux AB, Haier America Company LLC, and IFB Industries Limited, among others.
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Know More about Report Inclusions
Persistence Market Research published a new market report on the dishwasher market, covering U.S. industry analysis of 2017-2021 and forecasts for 2022 to 2032. This research report provides compelling insights on the basis of product type, capacity, price range, application, and sales channel.
The report also includes forecast factors and vital macroeconomic factors that are anticipated to boost the growth of the U.S. market. It also addresses the restraints that are projected to hinder market growth, along with the latest trends and potential opportunities in the market.
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