As Indonesia's economy develops, disposable income increases and consumption levels rise, the penetration rate of washing machines gradually increases, and consumer demand for washing machines gradually changes from a single cleaning tool to one with diverse functions. According to the analysis, the penetration rate of washing machines in Indonesia is low and there is huge room for development.
Indonesia's cheap labor, low land costs and favorable policy subsidies have attracted global washing machine manufacturers to invest in Indonesia. This follows Toshiba's $39 million investment in a washing machine plant in East Jakarta, aimed at increasing its sales revenue outside of Japan, and Sharp Electronics' Rp1.2 trillion investment in a new plant in Karawang, West Java, which will more than double the company's current production capacity in Indonesia for refrigerators and washing machines.
Due to increasing modernization and technological advancements, Indonesia washing machine market is expected to grow at a CAGR of 2.81% during the forecast period to reach USD 2.45 billion by 2028, according to an analysis by the analyst. Moreover, growing urbanization, product innovation, and increasing revenues are expected to boost the Indonesian washing machine market during the forecast period.
According to the analyst, the sales value of washing machines will reach US$ 2.73 billion in 2032 and the CAGR in 2023 to 2032 is 2.81%.
Topics Covered
- Indonesia Washing Machine Industry Overview
- The economic and policy environment of the washing machine industry in Indonesia
- What is the impact of COVID-19 on the Indonesian washing machine industry?
- Indonesia Washing Machine Industry Market Size 2023-2032
- Analysis of major Indonesian washing machine industry manufacturers
- Key drivers and market opportunities for the washing machine industry in Indonesia
- What are the key drivers, challenges and opportunities for the Washing Machine industry in Indonesia during the forecast period of 2023-2032?
- Which are the key players in Indonesia Washing Machine industry market and what are their competitive advantages?
- What is the expected revenue of Indonesia Washing Machine Industry market during the forecast period 2023-2032?
- What are the strategies adopted by the key players in the market to increase their market share in the industry?
- Which segment of the Indonesia Washing Machine Industry market is expected to dominate the market by 2032?
- What are the main negative factors facing the washing machine industry in Indonesia?
Companies Mentioned
- Nissan Motor
Methodology
Background research defines the range of products and industries, which proposes the key points of the research. Proper classification will help clients understand the industry and products in the report.
Secondhand material research is a necessary way to push the project into fast progress. The analyst always chooses the data source carefully. Most secondhand data they quote is sourced from an authority in a specific industry or public data source from governments, industrial associations, etc. For some new or niche fields, they also "double-check" data sources and logics before they show them to clients.
Primary research is the key to solve questions, which largely influence the research outputs. The analyst may use methods like mathematics, logical reasoning, scenario thinking, to confirm key data and make the data credible.
The data model is an important analysis method. Calculating through data models with different factors weights can guarantee the outputs objective.
The analyst optimizes the following methods and steps in executing research projects and also forms many special information gathering and processing methods.
1. Analyze the life cycle of the industry to understand the development phase and space.
2. Grasp the key indexes evaluating the market to position clients in the market and formulate development plans
3. Economic, political, social and cultural factors
4. Competitors like a mirror that reflects the overall market and also market differences.
5. Inside and outside the industry, upstream and downstream of the industry chain, show inner competitions
6. Proper estimation of the future is good guidance for strategic planning.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 60 |
| Published | May 2023 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 2.13 Billion |
| Forecasted Market Value ( USD | $ 2.7 Billion |
| Compound Annual Growth Rate | 2.8% |
| Regions Covered | Indonesia |
