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India Washing Machine Market Overview
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Growth Rate: 4.60% (2024-2032)
The growing shift towards a more convenience-oriented lifestyle, especially among the working population, is driving the demand for washing machines in India. According to the latest report by IMARC Group, the India washing machine market size reached US$ 1.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 2.7 Billion by 2032, exhibiting a growth rate (CAGR) of 4.60% during 2024-2032.
India Washing Machine Industry Trends and Drivers:
The Indian washing machine market is witnessing rapid growth due to numerous key drivers. The growing demand for convenient and time-saving home appliances like washing machines due to inflating income levels of individuals is offering a favorable market outlook. Moreover, the rising adoption of washing machines because of rapid urbanization in India is impelling the market growth. People are seeking products that offer efficiency and reduce manual labor. Apart from this, increasing preferences for smart washing machines on account of the ease of internet facilities in the country is bolstering the market growth. These machines are equipped with advanced features like wireless fidelity (Wi-Fi) connectivity, voice control, and energy-saving functions, making them highly appealing to individuals. Smart washing machines offer the convenience of remote control through mobile apps, enabling users to start, pause, or schedule wash cycles even when they are not at home. This level of control is particularly beneficial for time-conscious individuals who balance busy work schedules with household chores. Wi-Fi connectivity enable seamless integration with home networks, allowing machines to communicate with other smart devices.
Another significant driver is the growth of nuclear families, especially in urban regions. Smaller family units are more likely to invest in appliances that offer comfort and ease of use. Furthermore, the increasing awareness among individuals about hygiene is contributing to the market growth. People are prioritizing cleanliness and opting for appliances that offer deep cleaning, antibacterial washes, and hot water cycles. This trend is pushing manufacturers to develop machines that cater to these preferences. Lastly, manufacturers are offering easy financing options, which is encouraging more households to purchase washing machines. The availability of zero-cost equated monthly installment (EMI) plans, extended warranties, and after-sales services adds to the appeal, making washing machines affordable for a wider section of society. With both domestic and global brands competing in the Indian market, consumers have access to a wide range of models across various price points.
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India Washing Machine Industry Segmentation:
The report has segmented the market into the following categories:
Capacity Insights:
Below 6 Kg
6 Kg to 8 Kg
Above 8 Kg
Distribution Channel Insights:
Supermarkets and Hypermarkets
Specialty Stores
Online Stores
Others
End Use Insights:
Residential
Commercial
Regional Insights:
North India
West and Central India
South India
East and Northeast India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
Market Performance (2018-2023)
Market Outlook (2024-2032)
COVID-19 Impact on the Market
Porter’s Five Forces Analysis
Strategic Recommendations
Historical, Current and Future Market Trends
Market Drivers and Success Factors
SWOT Analysis
Structure of the Market
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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