Dublin, May 30, 2019 (GLOBE NEWSWIRE) -- The "Global Residential Washing Machine Market 2019-2023" report has been added to ResearchAndMarkets.com's offering.
The residential washing machine market will register a CAGR of almost 6% by 2023.
The growing number of working households is one of the key factors that will trigger the growth of the market during the forecast period. The female labor force participation has increased, resulting lesser time being allocated for household chores. This has led to an equivalent rise in the demand for automatic washing machines.
Moreover, change in lifestyle, rising middle-class population, an increase in the number of nuclear families, growing awareness about technology, and steadily increasing media penetration are the factors that have elevated the demand for residential washing machine.
Market Overview
Product innovation leading to portfolio extension and product premiumization
The growth in product premiumization and product line extension, coupled with the growing customer expenditure on household expenditure on household appliances, will drive the sales in the global washing machine market.
Fluctuations in raw material prices and operational costs
The fluctuating prices of raw materials pose a challenge for manufacturers operating in the household appliances market to produce efficient and innovative household appliances at affordable prices. Such concerns are expected to affect the growth of the global residential washing machine adversely.
Competitive Landscape
The market appears to be fragmented and with the presence of several companies including AB Electrolux and Haier Inc., the competitive environment is quite intense. The growing demand for household appliances and an increasing trend for advanced, featured, and innovative products raise opportunities for vendors to introduce smart household washing machines with artificial intelligence features.
LG Electronics Inc., Samsung Electronics Co. Ltd., and Whirlpool Corp. are some of the major companies covered in this report.
Key Topics Covered:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY PRODUCT
PART 07: MARKET SEGMENTATION BY DISTRIBUTION CHANNEL
PART 08: CUSTOMER LANDSCAPE
PART 09: MARKET SEGMENTATION BY TECHNOLOGY
PART 10: GEOGRAPHIC LANDSCAPE
PART 11: DECISION FRAMEWORK
PART 12: DRIVERS AND CHALLENGES
PART 13: MARKET TRENDS
PART 14: VENDOR LANDSCAPE
PART 15: VENDOR ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/5k87hr
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