Washing Machine Market - Forecast(2021 - 2026)
Washing Machine Market Overview: According to the International Trade Center (ITC), the total trade of washing machines was evaluated at $13.72 billion in 2018. This growth is attributed to the consumer affluence and the latest innovations occurring in the washing machine market such as bubble technology and drive technology. These factors are disrupting the overall washing machine market growth and gaining consumer traction as they lessen energy-consumption and fabric damage. The global washing machine market had a valuation of $37.11 billion as of 2018. Furthermore, the demand for washing machines is estimated to grow at a CAGR of 5.42% during the forecast period 2019-2025. The report notes that North America has been witnessing high growth rate in the washing machine market recently. In 2018, North America recorded 36.84% of the global revenue share. Advancements in home appliances with growing possibilities of Internet of Things (IoT), the washing machines are among a variety