Lewes, DE -- (SBWire) -- 06/22/2016 --Report forecast the washing machine market in the US to grow at a CAGR of 4.84% during the period 2016-2020.
With the latest innovations and new features, vendors are focusing on differentiating their product offerings through a clear and unique value proposition so as to entice consumers to replace their older washing machines with newer ones. Companies are also focusing on consumer engagement through superior customer service, and introduction of green and sustainable appliances.
The market is expected to boost sales through the increased penetration of smart, connected, and energy-efficient appliances. For instance, GE increased the working efficiency of its agitator washers in 2015, so that consumers can have control over the cycles as well as to improve energy-efficiency.
The report covers the present scenario and the growth prospects of the washing machine market in the US 2016-2020. To calculate the market size, the report considers the revenue generated from the sale of the following types of washing machines in the US for the residential segment:
- Front loading washing machine
- Top loading washing machine
According to the report, a key growth driver is the rising demand for energy- and water-efficient washing machines. One of the major drivers of the washing machine market in the US is the increasing demand for energy- and water-efficient appliances. The US household consumes an average electricity of 911 kilowatts per month, which is higher than the energy consumed in other developed countries. In an attempt to curb this high energy consumption, the US government is encouraging manufacturers and consumers to switch to energy-efficient appliances that use smart grids.
Further, the report states that one challenge that could hamper market growth is the infrequent purchase by consumers. Generally, consumers opt to purchase washing machines only when they are shifting to a new house or when they are replacing worn out or old ones. Washing machines are meant for long-term use and generally do not require frequent replacement.
Washing Machine Market in the US 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
key players in the washing machine market in the US: Electrolux, GE, LG Electronics, Samsung, and Whirlpool.
Other Prominent Vendors in the market are: Midea, Bosch-Siemens, Haier, Sharp, Panasonic, Hitachi, Arçelik, Groupe SEB, Miele, and Toshiba.
Market driver
- Increasing demand for energy- and water-efficient washing machines
- For a full, detailed list, view our report
Market challenge
- Infrequent purchases
- For a full, detailed list, view our report
Market trend
- Growing emphasis on technology and smart appliances
- For a full, detailed list, view our report
Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
Spanning over 61 pages and 31 Exhibit "Washing Machine Market in the US 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market landscape, Market segmentation by product, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.
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