Logo
India Washing Machine Market Outlook, 2027-28

India Washing Machine Market Outlook, 2027-28

Bonafide Research 20-10-2022 88 Pages Figures : 19 Tables : 17
Region : Asia-Pacific Category : Consumer Goods & Services Appliances & Equipment

1. BSH Home Appliances Manufacturing Private Limited

2. Godrej & Boyce Manufacturing Company Limited

3. Haier Appliances (India) Private Limited

4. Havells India Limited

5. Indian Fine Blanks Limited

More...

The Consumer Durable Goods industry offers high growth potential due to low penetration of various categories in Indian market. Consumer goods that do not wear out quickly are mainly segregated into three categories i.e. White Goods, Brown Goods and Consumer Electronics. The washing machine market is prognosticated to rake in ample amount of demand from the residential as well as commercial segment as consumer reveal a major inclination towards smarts and connected products. Many firms are reinforce their leads in the washing machine market as new players are plunge into the market and also the category witnesses a shift towards premium and big sizeable capacity products. India Washing Machine Market obtained market size of more than INR 10000 Crore in 2021-22. According to “India Washing Machine Market Outlook, 2027-28”, the market in India is mainly divided into two technology types, one is semi-automatic machine and the other one is fully automatic machine (Top Load and Front Load). Nowadays washing machine comes equipped with built in heaters and smart control technology. The Fully Automatic washing machine Market is anticipated to grow in foretell period. The product premiumization movement esteems front load washing machines. Top load washing machine is leading by share as the cost difference between the two is substantial. LG, Samsung, IFB, Whirlpool, Haier and Godrej are the leading players in the washing machine industry of India. Majority of market value is churns by North region whereas East is considered as the lowest penetrated region in washing machine market. By demographics area demand for refrigerator from urban area is more than rural areas where the product is still contemplate as an elite phenomenon. Domestic players have turned their focus towards rural areas as urban markets are clearly dominated by foreign firms like LG and Samsung. Digital technology and business, shortening replacement chain, rising spending habits, and demand in emerging markets are all hand out to increased income. The float of smart technological and innovative washing machine incorporating technology for efficient use of electricity and water, expected to have a favorable impact on demand for these goods. Introduction of smart washing machine with Wi-Fi enable has led to major increase in demand. Various technological advancements in washing machines have been made in the recent decade, resulting in increased efficiency in terms of saving electricity and water. A washing machine works by spinning the laundry at a high speed, creating centrifugal force that removes the water and debris from the wash. This has also allowed important industry players to capture a considerable portion of the washing machine market. Furthermore, the government has launched many efforts aimed at the development of rural households, and with an increase in India's per capita income, demand for washing machines is likely to rise. Further, the launch of the next generation washing machine incorporating technology for efficient use of electricity and water, expected to have a favorable impact on demand for these goods. The increased number of dual-income households, coupled with insufficient time for laundry has led to the growing desire for this under-penetrated product. The demand for washing machines is mostly in urban areas, which account for a major percentage of sales. Residents in urban areas consume in quite different ways than those who live in rural areas. Consumers are expected to be drawn to smart washing machines by rapid urbanization and lifestyle changes. The expanding urban population in the country, which is characterized by high-income individuals, is likely to fuel washing machine demand over the projection period. As India is one of the fastest-growing regions globally, most people use washing machines to wash and dry clothes efficiently in their home compared to laundry services, which is expected to drive the market growth trend. Rapid urbanization will also increase the growth rate of washing machines in the forecast period. The washing machine market tends to be competitive with the presence of international players. Energy labels and energy-efficiency policies have enabled manufacturers to focus on the development of energy-efficient products. Manufacturers are focusing on new product development, advancement in technologies, and increasing their manufacturing capacity. Domestic players have turned their focus towards rural areas as urban markets are dominated by foreign multinationals. Some of the key players in the washing machine market are LG Electronics India Pvt. Ltd., Samsung India Electronics Ltd, Whirlpool, Godrej, Electrolux, IFB, Lloyd, Bosch, Haier, Videocon, and Other prominent players. Washing machine manufacturers are incorporating innovations into their products to advance development technologically. In the Indian washing machine market, LG and Samsung have launched India's first AI and WI-FI connected washing machines. The new LG ThinQ front-load washing machine includes an Artificial Intelligence Direct Drive (AI DD) motor, which takes it beyond the boundaries of traditional washing machines. Samsung has released a bi-lingual washing machine with a Hindi and English user interface powered by artificial intelligence (AI). This new generation of fully automatic front load washing machines is claimed to be made for India. There has been a marvelous amount of modification in the consumer profile of the washing machine industry in country in the past couple of years. Income levels have improved at an impressive rate, & now more individuals have the expendable assets to purchase products like washing machines. Consumers are now seeing for factors such as design, trends, & quality of items rather than just the costs. The pictorial appeal of supplies has also become a vital standard in this regard. Nowadays washing machines are no longer considered as luxury machines for the middle class people. They have become a vital part of everyday lives. For instance, South Korean consumer electronics major Samsung is banking on its Indian innovation-powered, artificial intelligence-enabled washing machines range to become the number one player in the fully automatic segment in India this year. Samsung India had recently launched a new line-up of fully automatic front load washing machines which are artificial intelligence (AI) enabled with bi-lingual user interface in Hindi and English. The Internet of Things (IoT) enabled range can be connected with Samsung smart devices such as Galaxy smartphones, Samsung Smart TVs and Family Hub refrigerators as well as voice devices such as Alexa and Google Home giving users a seamless connected living experience. Recent Developments • April 2021 – Samsung launched an AI-powered washing machine in India with 21 new models. • November 2020 - Flipkart partnered with Panasonic to offer washing machines, air conditioners, and refrigerators in India. Covid-19 Impacts: The market's growth is expected to be hampered by the availability of laundry shops and the expansion of online laundry services. COVID-19 highlighted the importance of major appliances in most houses. Dishwashers, vacuum cleaners, food processors, coffee machines, and personal hygiene devices all jumped to the top of the buying list. The underserved washing machine market was no exception. The washing machine was the rescuer when social separation became the norm, and the part-time maid became a banned entity. Also, during the pandemic, many industries and washing machines have seen minimal growth. As a result of the travel restrictions, the country's trade has suffered. All markets, including the washing machine market, have been affected by the country's mandated lockdown and travel restrictions. Key Product Type • Semi-Automatic Washing Machine • Fully Automatic Washing Machine • Fully Automatic Top Load Washing Machine • Fully Automatic Front Load Washing Machine “India Washing Machine Market Outlook, 2027-28” discusses the following aspects of washing machines in India: How it will help solving your strategic decision making process?? The report gives an in-depth understanding of washing machines in India: • India Washing Machine Market Outlook • Market Size By Value & Forecast • Market Size By Volume & Forecast • Segmental Analysis: By Company, By Region, By Technology Type • India Semi-Automatic Washing Machine • Market Size By Value & Forecast • Market Size By Volume & Forecast • Segmental Analysis: By Company • India Fully Automatic Washing Machine Market Size By Value & Forecast • India Top Load Washing Machine Market Size By Value & Forecast • India Front Load Washing Machine Market Size By Value & Forecast • India Fully Automatic Washing Machine Market Size By Volume & Forecast • India Top Load Washing Machine Market Size By Volume & Forecast • India Front Load Washing Machine Market Size By Volume & Forecast • Segmental Analysis: By Company, By Category • India Washing Machine Market By Capacity Volume (Tons) • India Semi-Automatic Washing Machine Market By Capacity Volume (Tons) • India Fully Automatic Washing Machine Market By Capacity Volume (Tons) • India Washing Machine Market By Sales Price • India Washing Machine Market By Inventory Type • Product Price & Variant Analysis • The key vendors in this market space • Competitive Landscape & Strategic Recommendations This report can be useful to Industry consultants, manufacturers and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. Report Methodology The information contained in this report is based upon both primary and secondary research. Primary research included interviews with various channel partners of washing machines in India. Secondary research included an exhaustive search of relevant publications like company annual reports, financial reports and proprietary databases.

Read More

Card image cap

Interested in this report?
Get your FREE sample!

Requirement Gathering & Methodology
Data Collection Techniques
Our Research Team & Data Sourcing
Data Science & Analytical Tools
Data Visualization & Presentation Skills
Project/ Report Delivery & After Sales Services