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Residential Washing Machine Market to Hit $ 50,467.09 Mn by 2030, Exhibiting a CAGR of 8.4%

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New York, May 19, 2023 (GLOBE NEWSWIRE) — As per the research report “Global Residential Washing Machines Market” published by Consegic Business Intelligence, the market was worth USD 27,067.21 Million in 2022 and is anticipated to reach over USD 50,467.09 Million by the year 2030, growing at a CAGR of 8.4%.

A washing machine is a home appliance that is deployed in households to wash daily clothes and laundry. Residential washing machines aid in reducing the manual labor and are highly convenient to use and time-saving. The washing machines in the market are available as fully automatic, semi-automatic and dryers. Fully-automatic washing machines are gaining popularity among consumers due to its ability to wash clothes without human intervention.

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Global Residential Washing Machines Market Size, Share & Trends Analysis, By Operation (Fully-Automatic and Semi-Automatic), Product Type (Front Loading, Top Loading, Dryers, and Washer Dryer), Technology (Smart Connected and Conventional), Capacity (Up to 6 Kg, 6.1-8Kg, and Above 8Kg), Pricing (Low, Medium, and Premium), Sales Channel (Online and Offline), and By Region, Forecast Period 2023 – 2030.

The changing lifestyle of consumers is driving the growth of global residential washing machines market. Consumers are increasingly preferring fully-automatic washing machines in order to save time and effort. Moreover, technological advancements in washing machines such as remote control and voice control features is accelerating the growth of the market. For instance, in March 2023, Haier Inc. introduced a new line-up of anti–scaling top load washing machines for 8 kg and 9 kg capacity featuring anti-scaling technology to provide efficient, simple, and effortless washing experience. Thus, continuous advancements in technology have resulted in the growth of residential washing machines market.

The incorporation of advanced technologies such as the Internet of Things (IoT) in washing machines is providing significant growth opportunities for the growth of residential washing machines market. The growing adoption of smart home devices is expected to drive the demand for residential washing machines that are easily connected to smartphones or other home appliances. Consequently, the market for residential washing machines is expected to grow during the forecast period. However, the presence of on-demand laundry services is restraining the growth of the market.

Report Attributes Report Details
Market Size By 2030  USD 50,467.09 Million
Forecast Period 2023-2030
CAGR (2023-2030) 8.4%
Base Year 2022
Study Timeline 2017-2030
Key Players Electrolux AB, Whirlpool Corporation, Godrej Industries Ltd, Haier Group Corp, IFB Industries Ltd., LG Electronics Inc., Mirc Electronics Limited, Panasonic Corporation, Samsung Electronics Co. Ltd., Whirlpool Corporation
By Operation Fully-Automatic and Semi-Automatic
By Product Type Front Loading, Top Loading, Dryers, and Washer Dryer
By Technology Smart Connected and Conventional
By Capacity Up to 6 Kg, 6.1-8 Kg, and Above 8 Kg
By Pricing Low, Medium, and Premium
By Sales Channel Online and Offline
Report Coverage Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more
By Region North America, Europe, Asia-Pacific, Latin America, Middle East & Africa


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Key Market Highlights

  • The global residential washing machines market size is estimated to reach USD 50,467.09 Million by 2030 and grow at a CAGR of 8.4% during the forecast period (2023-2030).
  • Globally, residential washing machines are divided based on the operation into fully-automatic and semi-automatic.
  • In the context of product type, the market is separated into front loading, top loading, dryers, and washer dryer.
  • Based on the technology, the market is segregated into smart connected and conventional.
  • In the context of capacity, the market is separated into Up to 6 Kg, 6.1-8Kg, and above 8Kg.
  • Based on the pricing, the market is segregated into low, medium, and premium.
  • Based on the sales channel, the market is divided into online and offline.
  • The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
  • Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in residential washing machines market.

Residential Washing Machines Market Growth Drivers:

  • Rising demand for washing machines as a result of changing consumer lifestyles is driving the market growth.
  • The increasing government initiatives to promote the adoption of energy-efficient home appliances is propelling the growth of the market.

Restraints

  • Environmental concerns associated with washing machines restrain the market growth.
  • The implementation of tariffs on international consumer goods including washing machines impedes the domestic market growth.

Opportunities

  • The integration of advanced technologies such as Artificial Intelligence (AI) in washing machines is expected to present potential opportunities for the growth of residential washing machines market.

Global Residential washing machines Market Segmentation Details:

Based on Operation, the fully-automatic segment contributed the largest shares to the market growth in 2022. The ability of fully-automatic washing machines to wash clothes without any supervision by the user is driving the growth of the market. Fully-automatic washing machines are have the ability to perform washing and drying procedures in the same drum, thereby proving convenience to the user.

Based on Product Type, top-loading washing machine segment offered substantial shares to the global residential washing machines market in the year 2022. The ability of top-load washing machines to provide faster cycle times for washing clothes is driving the growth of the market. Top-load washing machines allow consumers to add or remove clothes in the middle of the washing cycle, thereby contributing to the growth of the market.

Based on Technology, the conventional washing machines segment contributed the largest shares to the market growth in 2022. The ability of conventional washing machines to perform basic cleaning tasks is driving the growth of residential washing machines market. Conventional washing machines provide high load capacity suitable for majority of homeowners. Moreover, customers lacking technical knowledge prefer conventional washing machines that further results in the market growth.

Based on Capacity, the 6.1-8kg segment contributed the largest shares to the market growth in 2022. Washing machines with capacity 6.1-8kg is well-suited for majority of middle-class households based on the strength, capacity, and power requirements of the users. Moreover, the washing machines are available in front-load and top-load options that further attracts a large number of customers towards this segment.

Based on Pricing, medium priced washing machines segment offered substantial shares to the global residential washing machines market in the year 2022. The growing affordability of washing machines is accelerating the growth of the market. Middle-class population prefer washing machines that provides effective and efficient cleaning of clothes rather than washing-machines equipped with advanced functionalities and features. Consequently, medium-priced washing machines contributes the largest shares to the residential washing machines market.

Based on Sales Channel, the offline segment contributed the largest shares to the market growth in 2022. Customers have a tendency to purchase expensive home appliances such as washing machines from offline stores as they prefer to test the product physically before purchasing. Moreover, the salesperson in specialty stores, hypermarkets and supermarkets provide accurate guidance to the customers according to their interests and choices.

Based on region, The Asia-Pacific region has been a major contributor to the growth of residential washing machines market. The changing consumers’ lifestyle due to hectic schedules has resulted in the increased demand for residential washing machines that provide ease and convenience to the customers. Moreover, continuous advancements in technology such as remote control is further attracting a large section of population towards this segment.

Recent Developments

  • In July 2022, Samsung delivers smart and sustainable solutions by launching AI Washer and Dryer that saves users energy, resources and costs.
  • In November 2022, Godrej Appliances expanded its premium range of fully automatic top-load washing machines with the 5-Star rated Eon Velvet range to wash all kinds of clothes and stains.

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List of Major Global Residential Washing Machines Market Players

The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —

  • Electrolux AB
  • Whirlpool Corporation
  • Godrej Industries Ltd.
  • Haier Group Corp
  • IFB Industries Ltd.
  • LG Electronics Inc.
  • Mirc Electronics Limited
  • Panasonic Corporation
  • Samsung Electronics Co. Ltd.

Global Residential Washing Machines Market Segmentation: 

  • By Operation
  • Semi-Automatic
  • Automatic
  • By Product Type
    • Front Loading
    • Top Loading
    • Dryers
    • Washer Dryer
  • By Technology
    • Smart Connected
    • Conventional
  • By Capacity
    • Up to 6 Kg
    • 6.1-8 Kg
    • Above 8 Kg
  • By Pricing
    • Low
    • Medium
    • Premium
  • By Sales Channel
  • Online
  • Offline

Browse Full Report & TOC https://www.consegicbusinessintelligence.com/residential-washing-machine-market 

Key Questions Covered in the Residential Washing Machines Market Report

  • What is residential washing machine?

– Residential washing machines are the appliances used to wash various types of clothes without applying any physical efforts. Washing machines are used to remove stains from the clothes by applying a centrifugal force. Thus, residential washing machines provide ease and convenience to the customers for washing clothes.

  • What will be the potential market valuation for the industrial food processing machines market industry by 2030?

– The market for global industrial food processing machines is expected to reach USD 50,467.09 Million in 2030 growing at a CAGR of 8.4% due to increasing demand for washing machines in households as a result of changing consumer lifestyle.

  • What specific segmentation details are covered in the residential washing machines market report, and how is the fastest segment anticipated to impact the market growth?

– The report consists of segments including Operation, Product Type, Technology, Capacity, Pricing, and Sales Channel. Each segment is projected to have the fastest-growing sub-segment being fueled by industry trends and drivers. For instance, by operation segment has witnessed fully-automatic washing machines as the fastest-growing segment due to its ability to wash clothes automatically without any human supervision.

  • Which region contributes the largest shares to the residential washing machines market?

– The Asia-Pacific region accounted for the largest revenue share in the year 2022 due to ease and convenience offered by residential washing machines to customers. Moreover, the increasing government initiatives to promote the adoption of energy-efficient home appliances is accelerating the growth of the regional market.

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About Consegic Business Intelligence Pvt Ltd

Consegic Business Intelligence Pvt Ltd. is the leading research industry that offers contextual and data-centric research services to its customers across the globe. The firm assists its clients to strategize business policies and accomplish sustainable growth in their respective market domains. The industry provides consulting services, syndicated research reports, and customized research reports.

Topnotch research organizations and institutions to comprehend the regional and global commercial status use the data produced by Consegic Business Intelligence Pvt Ltd. Our reports comprise in-depth analytical and statistical analysis on various industries in foremost countries around the globe.

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Contact no.: (US) (505) 715-4344

Email: [email protected]

web:- https://www.consegicbusinessintelligence.com

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Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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