Washing Machine Market Expanding Due to Growing Popularity of Compact and Portable Models
The global washing machine market size is expected to reach USD 126.75 billion by 2030, registering at a CAGR of 10.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. Increased needs for differentiated products and services have led to an upsurge in investments for R&D activities. Ongoing advancements, such as coin laundry, crowdsourced supply, and on-demand services, are drawing investors toward the laundromat and laundry industries seeking minimal on-site management obligations. Moreover, the commercial laundry space is becoming more automated with the introduction of Internet-enabled features in the washing machines. The increased number of dual-income households coupled with insufficient time for laundry has led to the growing demand for laundromats. Additionally, the growth in the hospitality sector in emerging countries and the advent of on-demand services are expected to propel the commercial washing machine growth. Furthermore, energy ...