The global dishwasher market size is expected to gain momentum owing to the rising demand for smart home appliances during the forecast period. This information is published by Fortune Business Insights™ in an upcoming report, titled, “Dishwasher Market, 2023-2030.” The growing number of the working population and nuclear families are driving the market forward. Increasing demand in both residential and commercial sectors is also a major contributing factor. Moreover, manufacturers are investing in product development to cater to the consumer demand for customization and investing more to benefit its consumers. For example, in September 2019, LG Electronics launched a WI-FI-based, smart LG dishwasher in the U.S. market. It is equipped with dynamic technology, which helps dry the utensils in the washer itself. Moreover, the rising importance of saving water is an environmental concern, which is helping manufacturers of this market as they provide products that require less water than hand washing utensils.
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List of Key Players Profiled in the Global Market for Dishwasher:
- LG Electronics
- The Whirlpool Corporation
- Electrolux AB
- GE Appliances
- Robert Bosch GmbH
- Asko Appliances AB
- The Samsung Group
What does the Report Offer?
The report examines product development, strategies, application, distribution channels. It focuses on global, regional, and country level analysis. Factors influencing the industry in the short- and long-term drivers, constraints, and opportunities, political, social, and technical variables are all part of the dynamics.
Drivers & Restraints-
Product Innovation to Stimulate Market Growth
The global dishwasher market growth is expected to grow due to the rising innovation during the projected period. Technological development allows manufacturers to promote their products considering the regional requirements. The development provides better mechanisms, soundproof, developed sensors, smartphones enabled, alert notifications, and promoting the product in the market. The promotion of these products on online platforms is influencing the sales in the market. Moreover, product innovation in developed countries is inclining consumers to replace the old products in kitchen renovations.
Segments-
By product type, the market is segmented into built-in and free-standing. On the basis of design, the market is segregated into standard tubs and tall tubs. On the basis of application, the market is fragmented into residential and commercial. On the basis of distribution channels, the market is categorized into specialty stores, online stores, brand stores, and others. Finally, by geography, the market is divided into North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
REGIONAL INSIGHTS
Growing Consumptions to Promote Growth in Asia Pacific
Asia Pacific is expected to hold the largest global dishwasher market share during the forecast period. This is due to the increasing consumption of home appliances in countries such as China and India, resulting in larger revenue generation. According to China Household Electrical Appliances Association, Chinese appliances sales reached USD 130,46.20 million in the period of 8 months in 2020. Moreover, the rising trend of kitchen renovation in residential households is boosting the market forward.
North America is expected to have a sizable share of the market. This is due to the growing expansion of the manufacturing base of prominent players in the region. For instance, in December 2020, GE Appliances invested USD 80 million to expand its manufacturing base in Ohio, United States. Moreover, the growing adoption of energy-efficient kitchen appliances drives the market forward.
Competitive Landscape-
Manufacturers Focus on R&D Investments to Strengthen their Position
With the presence of big firms with a global reach, the market is relatively consolidated. Because of the changing factors driving this growth, firms in this area need to stay on top of the market’s pulse. Players are focusing on distribution networks to increase market share. However, different techniques, such as marketing and promotional activities, play an essential part in raising consumer awareness of the product and increasing its popularity.
Industry Development-
- October 2020: American home appliances company Whirlpool Corporation launched the largest capacity three-rack dishwasher in the US market. It provides extra shelf space to load a greater number of utensils.
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