According to a new report by Technavio, the global washing machine market in the US is projected to grow by USD 1.65 billion from 2024 to 2028. The market is expected to have a compound annual growth rate (CAGR) of 5.2% during the forecast period. This growth is driven by consumer preferences for smart technologies and lifestyle changes.
Top players in the industry, such as Whirlpool and Miele, dominate the market with innovative features like fully automatic machines, Wi-Fi access, and mobile apps. Urbanization and technological advancements are also contributing factors to the growth of the market.
Some key trends in the market include Whirlpool’s top-load washers with 2-in-1 agitators, Miele’s smart washing machines and T1 dryers, and efforts in product development, strategic initiatives, and mergers and acquisitions.
However, there are still challenges that persist in the market, such as mold formation and mildew in vertical gaskets, as well as chronic back pain caused by traditional top-load machines.
The report highlights the significant growth of the washing machine market in the US, especially among the expanding middle-class populations and the increasing disposable income, particularly among Millennials. It also discusses the shift towards both offline and online distribution channels, with a rising demand for above 8 kg washing machines. Furthermore, the market is influenced by technological advancements such as AI and IoT, which have transformed the industry and enabled connected appliances.
Overall, the US washing machine market is shaped by consumer preferences, technological innovations, and the increasing focus on convenience, sustainability, and smart technologies.
According to a report by Technavio, the global washing machine market in the US is projected to grow by USD 1.65 billion from 2024 to 2028, with a compound annual growth rate (CAGR) of 5.2% during the forecast period. This growth is primarily attributed to consumer preferences for smart technologies and lifestyle changes.
The industry is dominated by top players such as Whirlpool and Miele, who offer innovative features like fully automatic machines, Wi-Fi access, and mobile apps. These companies leverage urbanization and technological advancements to drive the market forward.
Some key trends in the market include Whirlpool’s top-load washers with 2-in-1 agitators and Miele’s smart washing machines and T1 dryers. Additionally, efforts in product development, strategic initiatives, and mergers and acquisitions contribute to market growth.
However, there are still challenges that persist in the market. Mold formation and mildew in vertical gaskets continue to be a concern, as well as chronic back pain caused by traditional top-load machines.
The report highlights the significant growth potential of the washing machine market in the US. Factors such as the expanding middle-class population and increasing disposable income, especially among Millennials, contribute to this growth. The market is also experiencing a shift towards both offline and online distribution channels, with a rising demand for washing machines above 8 kg. Technological advancements such as AI and IoT have transformed the industry, enabling connected appliances and influencing market trends.
Overall, the US washing machine market is shaped by consumer preferences, technological innovations, and a focus on convenience, sustainability, and smart technologies.
For more information, you can visit Technavio’s official website: Technavio.