The washing machine market can be segmented on the basis of type into front loading automatic, top loading automatic and semi-automatic. Fully automatic washing machines require a single touch to start the operation, whereas semi-automatic washing machines require human assistance to transfer wet clothes from one drum to another. According to the analysis, the market size of Vietnam's washing machine industry has been expanding as residents' demand for washing machines continues to grow with rising disposable incomes, an increase in the number of nuclear families, a reduction in the size of homes, and a rise in the busyness of residents' lives.
Rising consumer tiers and technological innovations in the washing machine industry, including drive and bubble technologies, are rooted in growing demand. Factors such as how to reduce the energy consumption of washing machines and the damage to fabrics during the washing process are influencing the overall growth of the washing machine market, which is what consumers are looking for when selecting a washing machine, and are key to the competitiveness of washing machine manufacturers in the market. Increased use of internet and growth in online sales of washing machines are providing new ways for manufacturers to connect with their customers. The supply chain of the washing machine industry has also undergone significant changes due to increased globalization and digital technology.
Many product innovations are being developed in parallel to support market expansion. With the official launch of Samsung's Vina washing machine, a new era of smart washing machines has begun in Vietnamese households. Samsung's new range of fully automatic front-loading washing machines features the company's proprietary Eco Bubble and Quick Drive technologies, which save time and energy while caring for fabrics by up to 45%. Inverter technology and Wi-Fi connectivity are seen as future and potential market growth drivers for the washing machine industry.
As Vietnam's economy grows, more Vietnamese consumers will be buying washing machines for the first time or replacing their existing ones. Forecasts anticipate the market size of Vietnam's washing machine market to continue to rise. The analyst expects the market size of Vietnam's washing machine market to reach US$1.61 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.3% from 2023 to 2032.
Topics covered:
- Overview of the washing machine industry in Vietnam
- Economic and policy environment of Vietnam's washing machine industry
- What is the impact of COVID-19 on Vietnam's washing machine industry?
- Vietnam Washing Machine Industry Market Size, 2023-2032
- Analysis of Major Vietnamese Washing Machine Industry Manufacturers
- Key Drivers and Market Opportunities in Vietnam Washing Machine Industry
- What are the key drivers, challenges and opportunities for the Washing Machines industry in Vietnam during the forecast period 2023-2032?
- Which are the key players in Vietnam Washing Machine Industry market and what are their competitive advantages?
- What is the expected revenue of Vietnam Washing Machine Industry market during the forecast period of 2023-2032?
- What strategies have been adopted by the key players in the market to increase their market share in the industry?
- Which segment of the Vietnam Washing Machine Industry market is expected to dominate the market by 2032?
- What are the major unfavorable factors facing the Washing Machines industry in Vietnam?
Table of Contents
Companies Mentioned
- Panasonic Vietnam Co. Ltd
- LG Electronics Vietnam
- Toshiba Vietnam
- Haier Electrical Appliances Vietnam
- Samsung Vina Electronics Co. Ltd.
- Electrolux Vietnam Ltd.
- Sharp Vietnam Electronics Co. Ltd.
- Arcelik Hitachi Home Appliances Sales Vietnam
- Midea Vietnam
- Vietbeko Co. Ltd
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 | August 2023 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 868.6 Million |
| Forecasted Market Value ( USD | $ 1610 Million |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Vietnam |
| No. of Companies Mentioned | 10 |
