Future Market Insights has announced the addition of the Dishwasher Market
Future Market Insights has announced the addition of the “Dishwasher Market: Global Industry Analysis and Opportunity Assessment 2016-2026” report to their offering.
Although demand for dishwashers has remained largely confined to developed regions and urban centres in the past, a burgeoning middle class with a sizeable disposable income is ramping up adoption in emerging economies. Dishwasher manufacturers are witnessing increasing sales from Asia Pacific, in addition to the traditionally strong markets of the US, Canada, Europe, and Japan. Growth in emerging markets is likely to offset sluggish sales in key markets, where ownership is reaching a saturation point.
Dishwasher Market: Drivers & Restraints
Global dishwasher market is anticipated to witness a steady increase during the forecast period, owing to a combination of macro-economic and specific factors, including resurgence in the home improvement sector, rising women workforce in developing countries, increasing disposable income, and rising awareness on the availability of dishwashers. In many developing countries, luxury goods have a social status quotient; dishwasher brands can look to tap into the available opportunities in these markets. However, high cost remains a key constraint to wider adoption of dishwashers. Even in affluent countries, dishwasher ownership is in the range of 70% to 75%, implying there’s still consumers out there who will make the decision of buying a dishwasher sometime in the future.
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Dishwasher Market: Segmentation
On the basis of product type, global dishwasher market can be segmented into:
Built-in dishwashers are more predominantly used and are gaining more popularity as they are compact and affordable.
On the basis of application, global dishwasher can be segmented into:
On the basis of distribution channel, global dishwasher market can be segmented into:
Dishwasher Market: Region-wise Outlook
North America and Europe will remain the largest markets for dishwashers during the forecast period 2016-2026. Growth of the dishwashers market in North America will be supported by the growing trend of connected homes. The U.S. and Canada are among the traditionally strong markets for dishwashers. However, long replacement cycles have remained a challenge for manufacturers, as price tag of dishwashers is on the higher side. However, development of smart dishwashers — those that can be connected with smartphone apps — are renewing consumer interest and the trend is expected to influence buying decisions during the forecast period.
Europe, like the US, has a relatively high dishwasher ownership, and a majority of new sales are on account of replacement of faulty, worn-out machines. However, just like the US, availability of smart appliances is prompting many homeowners to consider upgrading, a factor that’s expected to ramp up sales during the forecast period.
Asia Pacific excluding Japan (APEJ) dishwasher market is expected to expand at a relatively higher rate than the markets in North America and Europe. Only a small percentage of households in APEJ have a dishwasher, as hired labourers are used for cooking, cleaning, and dishwashing. However, the emergence of a strong middle class, massively influenced by western lifestyle, is ramping up demand for consumer appliances and luxury goods. This population segment will be key to future growth of dishwasher market in Asia Pacific.
Middle East and Africa (MEA) is another nascent market for dishwashers; however, growth in the region will not be as prolific as APEJ. The dishwashers market in MEA is expected to witness moderate growth in terms of volume and value during the forecast period.
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Dishwasher Market: Key Players
Key players in the global dishwasher market include Whirlpool, Electrolux, Bosch Home Appliances Group, Samsung, Haier Inc., Baumatic, Arcelik, Smeg, Asko, BSW Household Appliances Co., Ltd., and Shanghai Veetsan Electrical Appliance Co., Ltd.
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