Meticulous Research® Reveals Promising Growth for the Global Dishwashers Market
Meticulous Research®, a leading global market research firm, has released a comprehensive report titled, "Dishwashers Market by Product Type (Built-in, Portable), Dishwasher Size (Compact, Standard), Distribution Channel (Offline, Online), End User (Residential, Commercial), and Geography - Global Forecast to 2031." This latest publication projects that the global dishwashers market will surge to $38.2 billion by 2031, registering a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.
Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5887
The anticipated growth of the dishwashers market is attributed to several factors, including rising household disposable incomes, evolving consumer lifestyles, and technological advancements in home appliances. However, challenges such as water and energy consumption continue to temper market expansion.
Growth Drivers and Opportunities
The report identifies several key drivers for the dishwashers market. Increasing adoption of modular kitchens, advancements in connected home appliances, and the proliferation of mini cafes and restaurants are set to create significant growth opportunities for market stakeholders. Conversely, infrastructure and space constraints, along with skepticism from consumers in developing regions regarding dishwasher capabilities, represent major obstacles.
Market Segmentation and Insights
· Product Type: The market is categorized into built-in dishwashers, portable dishwashers, top control dishwashers, front control dishwashers, and other types. In 2024, built-in dishwashers are expected to command over 62% of the market share, driven by higher disposable incomes, compact living spaces, and growing popularity of modular kitchens. Notably, AB Electrolux (Sweden) introduced a new range of built-in appliances, including dishwashers, to the Indian market in February 2023. Meanwhile, portable dishwashers are projected to experience the highest CAGR due to the increasing trend of mobile lifestyles and affordability.
· Dishwasher Size: The market segments include compact, standard, and oversized dishwashers. The standard dishwasher segment is anticipated to dominate with a market share exceeding 55% in 2024, spurred by the rise in mini cafes and restaurants and heightened hygiene standards. Compact dishwashers are expected to grow at the highest CAGR, benefiting from compact apartment trends and kitchen renovations. Godrej & Boyce Manufacturing Company Limited (India) launched the Godrej Eon Magnus Counter-Top Dishwasher in February 2022 to cater to this demand.
· Distribution Channel: The market is divided into offline and online channels. Offline sales are projected to hold a substantial share of over 85% in 2024, owing to the preference for in-store product trials and immediate purchase. However, the online segment is forecasted to grow at the highest CAGR, driven by the expansion of e-commerce and advantages such as comprehensive product comparisons and exclusive online deals.
· End User: The market is segmented into residential and commercial sectors. The commercial segment is expected to account for over 60% of the market share in 2024, fueled by the growing number of food service establishments and stringent hygiene regulations. In contrast, the residential segment is projected to experience the highest CAGR, with rising disposable incomes and a focus on home appliance advancements driving growth. Samsung Electronics Co., Ltd. (South Korea) launched a new dishwasher model in July 2022 to enhance household living standards in Singapore.
· Geography: The global market is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is forecasted to hold over 37% of the market share in 2024 and is expected to record the highest CAGR of above 6% during the forecast period. This growth is driven by rapid urbanization, rising disposable incomes, and increasing adoption of water-efficient appliances. Samsung Electronics Co., Ltd. (South Korea) introduced the IntensiveWash Dishwasher in October 2021 to cater to the growing needs of Indian consumers.
Key Market Players
Prominent players in the dishwashers market include Robert Bosch GmbH (Germany), Midea Group (China), Asko Appliances AB (Sweden), Siemens AG (Germany), Fagor Electrodomestico (Spain), AB Electrolux (Sweden), Arcelik A.S. (Turkey), LG Electronics Inc. (South Korea), Whirlpool Corporation (U.S.), GE Appliances (U.S.), Samsung Electronics Co., Ltd. (South Korea), IFB Appliances (India), Panasonic Holdings Corporation (Japan), Miele & Cie. KG (Germany), and The Middleby Corporation (U.S.).
Quick Buy @ https://www.meticulousresearch.com/Checkout/94743202
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
Contact Us:
Meticulous Research®
Email- sales@meticulousresearch.com
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research
Comments
0 comment