Portable Washing Machine Market (Product - Top Loader Type, and Front Loader Type; Application - Commercial, and Residential): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

A recent report published by Infinium Global Research on the portable washing machine market provides an in-depth analysis of segments and sub-segments in the global as well as regional portable washing machine market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional portable washing machine market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global portable washing machine market. According to the report, the global portable washing machine market is projected to grow with more than 9% of CAGR from USD 55 billion in 2020 to approx. USD 100 billion in 2026 during the forecast period of 2020-2026.

Market Insight

The portable washing machine market is anticipated to grow with a more than 9% CAGR over the forecast period. Portable washing machines are widely used for washing laundry, as they save both time and energy. A portable washing machine operates by spinning the laundry at high speed, thereby generating a centrifugal force that eradicates water from the laundry along with dirt. Further, various technological advancements have been carried out in these machines during the last few years, leading to their higher efficacy, in terms of saving water and electricity. This has also empowered key players in this market to gain a substantial market share in the portable washing machine market. In addition, macroeconomic factors such as digitalization, urbanization, changing consumer buying patterns, and rising demand in emerging economies are expected to increase the demand for portable washing machines.

Upsurge in disposable income and improvements in rural electrification boost the global portable washing machine market during the forecast period. Furthermore, the increasing affordability of washing machines and increased urbanization have propelled the demand for portable washing machines. In addition, the government has taken numerous initiatives toward the development of rural households in emerging countries in Asia-Pacific, which is anticipated to increase the demand for portable washing machines. On the other hand, the availability of laundry shops and growth in online laundry services may hinder market growth. However, technological and innovative advancement associated with portable washing machines presents a major opportunity for manufacturers operating in this market.

Among the geographies, the Asia Pacific region is expected to hold the largest share in the global portable washing machines market as portable washing machines gained popularity due to their compatible and user-friendly features. Further, factors such as emerging economies in the region, rapid urbanization, and an expanding middle-class population is anticipated to drive the market. Furthermore, the North America region is expected to witness a substantial growth rate in the portable washing machines market over the forecast period due to growing awareness of ENERGY STAR-certified products, which is, in turn, anticipated to boost the demand for portable washing machines in this region.

Segment Covered

The report on the global portable washing machine market covers segments such as product, and application. On the basis of product, the sub-markets include top loader type, and front loader type. On the basis of application, the sub-markets include commercial, and residential.

Companies Profiled:

The report provides profiles of the companies in the market such as LG, Qishuai, Midea, Haier, Panasonic, Daewoo Electronics, Smad Electric, Xiaojie Internet, Hisense, and Electrolux.

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the portable washing machine market. Moreover, the study highlights current market trends and provides forecasts from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players.