Top Companies in the Washing Machine Market

Dec 13, 2022 | Electronics and Semiconductors

Top Companies in the Washing Machine Market

The global washing machine market reached US$ 51.9 Billion in 2022. Washing machines are modern electronic appliances used to wash dirty laundry. They work by sloshing the clothes in soapy suds and water to remove any dirt and stains from the fabrics before spinning them at high speeds to drain the water after the cycle. They generally consist of a tub, tub guards, balance rings, paddles, pumps, thermostats and heating elements, a programmer, and pipes and valves. They are usually manufactured from sheet steel and plastic with zinc or porcelain coatings for corrosion resistance and longer operational life. Since they are easy to use, highly space-saving, and aid in minimizing manual labor, washing machines are widely used in residential and commercial sectors.

As per the analysis by IMARC Group, the top companies in the washing machine industry are offering fully automatic, semi-automatic, and top- and front-load product variants to fulfill evolving consumer needs. They are also developing next-gen energy-efficient washing machines with minimal carbon footprint and maintenance requirements to reduce energy consumption. Additionally, the leading manufacturers are focusing on launching innovative commercial products to meet the escalating need for on-demand laundry services. For instance, they are introducing card-based laundry payment systems as an alternative to coin laundries to accelerate automation in the laundry sector and offer flexible payment options. Besides this, several key players are integrating smartphone applications with advanced technologies, such as the Internet of Things (IoT) and artificial intelligence (AI) solutions, to enable real-time alerts and remote access to washing machines. Furthermore, the introduction of heat pump technology, the rising popularity of fully automatic and smart connected washing machines, and easy product availability via online and offline retail channels are some of the other factors propelling the market growth. Looking forward, IMARC Group expects the market value to reach US$ 68.28 Billion by 2028, growing at a CAGR of 4.5% during 2023-2028. 

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Top Companies in the Washing Machine Market

AB Electrolux

Establishment: 1919
Headquarters: Stockholm, Sweden
Website: https://www.electrolux.com/ 

AB Electrolux is a global leader in home and professional appliances that mainly operates through three segments: major appliances, small appliances, and professional products. It manufactures a wide range of kitchen, laundry, air, and floor products. Under laundry, the company offers front-load and top-load washing machines and washer-dryers. Currently, Electrolux employs more than 52,000 people globally and sells around 60 million household products annually in over 120 markets under its brands, including Electrolux, AEG, and Frigidaire.

Alliance Laundry Systems LLC

Establishment: 1908
Headquarters: Wisconsin, the United States
Website: https://alliancelaundry.com/ 

Alliance Laundry Systems LLC is a premier provider of laundry solutions that invents, designs, manufactures, and markets premium solutions for commercial laundries. Its diversified product portfolio comprises top-load and front-load washers, dryers, washer extractors, tumble dryers, laundromat equipment, and professional ironers. The company sells its products under five respected brands, including Speed Queen, UniMac, Huebsch, Primus, and IPSO, supported by an extensive global network of select distributors. 

Godrej Group

Establishment: 1897
Headquarters: Maharashtra, India
Website: https://www.godrej.com/ 

Godrej Group is an Indian multinational conglomerate specializing in consumer goods, appliances, real estate, agriculture, and many other businesses. Godrej Appliances, a business unit of the highly diversified Godrej Group, offers a wide variety of home appliances, commercial appliances, and vending machines, including refrigerators, washing machines, air conditioners, dishwashers, disinfecting devices, portable insulin coolers, deep freezers. The company sells semi- and fully automatic front-load and top-load washing machines. 

Haier Group Corporation

Establishment: 1984
Headquarters: Qingdao, China
Website: http://www.haier.net/en 

Haier Group Corporation is a leading global provider of consumer electronics and home appliances. It mainly operates through four business segments: channel services, washing machines, water heaters, and logistics businesses. Its broad product portfolio comprises washing machines, dryers, commercial laundry solutions, refrigerators, air conditioners, microwave ovens, mobile phones, computers, and televisions. Currently, Haier operates 10 R&D centers, 71 research institutes, 133 manufacturing centers, and more than 230,000 sales networks globally.

IFB Industries Limited

Establishment: 1974
Headquarters: West Bengal, India
Website: https://www.ifbindustries.com/ 

IFB Industries Limited primarily manufactures fine-blanked components, appliances, and steel products. It operates through four main business segments: engineering, home appliances, motors, and steel. Under IFB Appliances, the company offers a wide array of kitchen, laundry, living, accessories, and commercial solutions. Its diverse product portfolio comprises washing machines, dryers, air conditioners, microwave ovens, dishwashers, chimneys, stabilizers, and beverage makers. IFB also provides commercial laundry solutions, such as washer extractors, tumble dryers, washers, ironers, dry cleaning machines, and finishing equipment. 

LG Electronics Inc.

Establishment: 1958
Headquarters: Seoul, South Korea 
Website: http://lg.com/ 

LG Electronics Inc. is a multinational conglomerate that specializes in manufacturing consumer electronics. It primarily operates via four business divisions, namely Home Appliance & Air Solutions (H&A), Home Entertainment (HE), Vehicle Component Solutions (VS), and Business Solutions (BS). It also leads the market in several areas, including washing machines, TVs, refrigerators, mobile phones, vehicle components, and solar energy. It offers various products ranging from home entertainment to kitchens, laundry, computers, and air conditioners. At present, LG Electronics operates over 142 local subsidiaries worldwide, with roughly 74,000 employees.

MIRC Electronics Limited (Onida Group)

Establishment: 1981
Headquarters: Maharashtra, India
Website: https://onida.com/ 

MIRC Electronics Limited is the flagship company of the Onida Group and one of the most trusted Indian consumer durable brands. It has a broad product portfolio comprising washing machines, flat panel TVs (LED LCD TVs), air conditioners, microwave ovens, DVD home theatre systems, refrigerators, air coolers, dishwashers, mobile phones, projector systems, and LED lights. The company operates world-class manufacturing facilities at Wada (Maharashtra) and Roorkee (Uttarakhand) with a capacity of over 3.4 Million TVs and 2.4 lakhs washing machines, respectively.

Panasonic Corporation

Establishment: 1918
Headquarters: Tokyo, Japan
Website: https://www.panasonic.com/ 

Panasonic Corporation is a global leader in the development of diverse electronics technologies and solutions for customers in consumer electronics, housing, automotive, and B2B businesses. It offers a wide range of home appliances and domestic equipment, batteries and electronic components for mobility and social infrastructure, and equipment and systems for manufacturing and logistics. The company has an extensive portfolio of home appliances, including top-load and front-load washing machines, refrigerators, microwave ovens, vacuum cleaners, water purifiers, mixers, cookers, blenders, and grinders.

Robert Bosch GmbH

Establishment: 1886
Headquarters: Gerlingen, Germany
Website: https://www.bosch.com/ 

Robert Bosch GmbH is a leading global supplier of technology and services. It operates via four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT provider, the company offers innovative solutions for smart homes, connected mobility, and Industry 4.0. It also sells a variety of home appliances, including washers and dryers, fridges and freezers, cooking and baking appliances, dishwashers, vacuum cleaners, kettles, toasters, kitchen tools, coffee machines, and fabric refreshers. 

Samsung Electronics Co. Ltd.

Establishment: 1969
Headquarters: Seoul, South Korea
Website: https://www.samsung.com/ 

Samsung Electronics Co. Ltd. is a leading multinational conglomerate specializing in electronics, such as smartphones, tablets, TVs, and home appliances. It primarily operates through four segments: smartphones, home appliances, TV & AV, and computing. Under home appliances, the company offers top-load and front-load washing machines, washers, dryers, ACs, microwaves, dishwashers, wall ovens, LED lighting, refrigerators, vacuums, and cooktops. 

Toshiba Corporation

Establishment: 1875
Headquarters: Tokyo, Japan
Website: https://www.global.toshiba/ 

Toshiba Corporation is a leading Japanese manufacturer of computers and electronic devices. It offers products and services in numerous business domains, including energy systems & solutions, infrastructure systems & solutions, building solutions, retail & printing solutions, electronic devices & storage solutions, digital solutions, and battery business. The company sells a range of home appliances, such as washing machines, clothes dryers, vacuum cleaners, clothes steamers, air conditioners, kitchen appliances, and battery-related products. 

Whirlpool Corporation

Establishment: 1911
Headquarters: Michigan, United States
Website: http://whirlpoolcorp.com/ 

Whirlpool Corporation is a multinational manufacturer and marketer of home appliances. The company has sold over 70 million laundry appliances, refrigerators and freezers, cooking appliances, dishwashers, and compressors. It has a diverse product portfolio consisting of washers, dryers, air purifiers, dishwashers, refrigerators, wall ovens, microwaves, cooktops, freezers, and parts & accessories. Presently, Whirlpool owns and operates more than 54 manufacturing facilities and technology research centers worldwide.

About IMARC Group: IMARC Group is a leading market research and consulting company that offers management strategy and market research worldwide. The company has done multiple projects on the washing machine industry, which has enabled clients to set up and expand their businesses successfully.       

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