DUBLIN–(BUSINESS WIRE)–The “Vietnam Washing Machine Market, By Type, By Machine Capacity, By Technology, By Distribution Channel, By Region, Competition, Forecast & Opportunities, 2017-2027” report has been added to ResearchAndMarkets.com’s offering.
The Vietnam washing machine market is expected to grow at a CAGR of 5.34% during the forecast period and reach USD 1285.75 million by 2027 owing to the rising affluent class, increasing nuclear families, and preferences for automatic washing machines.
Furthermore, changing lifestyles, product innovation, increasing per capita income, and increased purchasing power are expected to boost the Vietnam washing machine market during the forecast period.
The washing machine market is segmented based on type which include front load automatic, top load automatic, and semi-automatic. A fully automatic washing machine only requires a single touch to begin operation, whereas a semi-automatic washer requires human assistance to transfer wet laundry from one tub to another. Power-efficient laundry machines are also fully automatic. Vietnam’s laundry industry is expanding due to people’s busier lifestyles, smaller homes, increased nuclear, and higher incomes.
The rising consumer class and recent advancements in the washing machine industry, including drive and bubble technology, are credited with this growth. Due to their reduced energy consumption and fabric damage, these factors are affecting the overall development of the washing machine market and gaining consumer attention. Increased internet usage and the growth of washing machine sales online have given manufacturers new ways to connect with their customers. Supply chains have undergone significant changes because of rising levels of globalization and the development of digital technologies.
During the forecast period, the demand for washing machines will increase due to Vietnam’s growing urban population and rising disposable income. Many product innovations are being developed concurrently to support market expansion. With Samsung Vina’s official launch of a Samsung washing machine, a new era of intelligent washing machines has begun for Vietnamese families.
The new lineup of fully automatic front-load washing machines from Samsung features the company’s exclusive Eco Bubble and Quick Drive technologies, which save time and energy while providing 45% more fabric care. Inverter technology and Wi-Fi connectivity will be seen as the future of the washing machine and a potential market growth driver.
Rising Number of Nuclear Families in Vietnam Will Lead to Growth of Washing Machine Market
The washing machine industry will advance in the future because of growing nuclear families, working women, and rising consumer per capita income. In addition, a more comprehensive selection of options encourages city dwellers to switch from semi-automatic to fully automatic machines. The price difference between front load automatic and top load automatic has significantly shrunk, enabling brands to market the former aggressively.
Booming Development of Digital and Smart Technology Will Lead to the Growth of the Washing Machine Market
Consumers’ top priority is convenience without sacrificing performance, which drives the development of smart technologies in the home appliances market, particularly in the washing machine sector. Some manufacturers track the status of the items being washed using smart technologies like drive technology and bubble technology. In contrast, others use these technologies to measure performance indicators like electricity, chemicals, and resources.
Clothes washers with smart technology built-in do not overrun, saving customers’ time and benefiting commercial laundry. E.g., The latest AI technology from Samsung learns and remembers your laundry routines, then suggests the wash cycle consumers use the most. The latest smart washing machine supports voice assistants like Alexa and Google Home. It can be connected to other Samsung smart devices like Galaxy smartphones, Samsung Smart TVs, and Family Hub refrigerators.
Rising Affluent Class will Lead to the Growth of Washing Machine Market
The changing lifestyles and preferences of consumers are predicted to lead to higher living standards, which will expand the market for washing machines. More people working and having busy schedules have increased the demand for washing machines. Customers are attempting to integrate their washing machines into their homes. When functionality is identical, the market’s top-selling design is the one that appeals to consumer emotions.
Companies Mentioned
- Panasonic Vietnam Co., Ltd
- LG Electronics Vietnam Hai Phong Co., Ltd.
- Toshiba Vietnam Consumer Products Co., Ltd.
- Haier Electrical Appliances Vietnam Co Ltd. (Aqua)
- Samsung Vina Electronics Co., Ltd.
- Electrolux Vietnam Ltd.
- Sharp Vietnam Electronics Co., Ltd.
- Arcelik Hitachi Home Appliances Sales Vietnam
- Midea Vietnam
- Vietbeko Co., Ltd
Report Scope:
In this report, Vietnam washing machine market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Vietnam Washing Machine Market, By Type:
- Top Load Automatic
- Front Load Automatic
- Semi- Automatic
Vietnam Washing Machine Market, By Machine Capacity:
- 8 kg and Above
- Below 8 Kg
Vietnam Washing Machine Market, By Technology:
- Non-Smart
- Smart Connected
Vietnam Washing Machine Market, By Distribution Channel:
- Multi-Branded Stores
- Supermarkets/ Hypermarkets
- Online
- Others (Direct Sales, Wholesales, etc.)
Vietnam Washing Machine Market, By Region:
- Southern
- Northern
- Central
For more information about this report visit https://www.researchandmarkets.com/r/dpniab
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