Changing the lifestyle of consumers is one of the major factors which is expected to drive the growth of dishwashers globally. In addition, the increasing popularity of the modular kitchen concept, rising adoption of the connected home appliances, higher per capita income level, the increasing influence of western lifestyle, are some of the other factors expected to increase the demand for different types of dishwashers globally.
The COVID 19 pandemic has positively influenced the dishwasher market unlike many other industries. Brands like LG, Bosch and Voltas Beko are seeing a rise in demand for dishwashers as many consumers have increasingly started to cook at home amidst the remote working during the COVID-19 pandemic. Amidst the coronavirus outbreak, many customers worldwide are working from home, cooking more and ordering less. This has led to the rise in demand for the dishwasher category.Indicating a change in consumer demand and buying pattern during the COVID-19 pandemic, BSH Home Appliances, Europe's largest appliances brand, reported thrice the demand than usual for dishwashers in June 2020.
Furthermore, ease of availability and advancement in technology is influencing consumers to buy dishwashers, especially in developing economies and the growing influence of western lifestyle is likely to boost the sales of dishwashers in Asia-Pacific region. Manufacturers are also focusing on continuous technological innovations in the field of electronics kitchen appliances to add more values to their products and to enhance their functionality which will enable them to enhance the convenience of users. Over the past few years, manufacturers have been investing in product development to provide additional benefits to consumers. They have integrated sensors and features to the product that can be connected to smartphones to monitor the detergent level and to get alerts about the wash cycles. In addition, manufacturers are introducing localized product based on the need of the consumers from a particular region or country.
Key Market Trends
Product Innovations are Augmenting the Market Growth
Product innovations and technological developments allow key players to promote their products and services by considering country-specific requirements which are likely to change market dynamics in upcoming years. The developments that are being made in the dishwashers are providing better mechanics for the dishwashing, manufacturing machines that produce minimum sound, incorporating developed sensors and features that will enable it to connect to the smartphones, and the development of the system that will help in monitoring the detergent level and the alert notifications of the dishwasher cycles. The rising influence of printed or online documentation, websites, advertising campaigns, and other marketing communication materials for dishwashers is influencing the sales of dishwashers.
Furthermore, key players are focusing on product innovation in dishwashers such as including pre-soak cycles, removable trays, fold-down tines, adjustable racks, better spray arms, and improved wash and dry systems in the final product, which is likely to support the market growth. In developed economies, increasing consumer inclination to replace an old dishwasher or undergoing a kitchen renovation is also anticipated to drive demand during the forecast period.
Rising Demand for Dishwashers in Asia Pacific Region
In Asia-Pacific, the increasing preference for a hustle-free lifestyle and growing industrial application of dishwashers are supporting the growth of the dishwasher market in the region. Significant changes in the living standards and growing urbanization in developing countries in India and China are expected to boost the sales of both freestanding and built-in dishwashers in the region.
In the Asia-Pacific region, China is likely to continue its dominance due to the growing demand for dishwashers along with various kitchen appliances. launch of new and innovative products is is expected to accelerate the regional dishwasher market growth. For example, Haier Group Corporation has introduced its Chinese-style 45cm and 60cm Hybrid series dishwasher, tailored as per the kitchens of China. The seamless shopping experience with the dominance of private label brands and rising internet penetration is further encouraging consumers to buy dishwashers online in the region.
The global dishwasher market is highly fragmented and the leading market players are focusing on a strong distribution network to increase their share in the market. Some of the major players operating in the global dishwasher market are Haier Group Corporation, Electrolux AB, Aga Rangemaster Group, LG Electronics Inc., Whirlpool Corporation, Robert Bosch GmbH, and Fagor Electrodomesticos.
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TABLE OF CONTENTS
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS AND DYNAMICS
- 4.1 Market Overview
- 4.2 Market Drivers
- 4.3 Market Restraints
- 4.4 Opportunities
- 4.5 Industry Value Chain Analysis
- 4.6 Porters 5 Force Analysis
- 4.7 Insights on Technological Innovations and Recent Trends in Market
- 4.8 Consumer Buying Behaviour Analysis
- 4.9 Insights on Government Regulations in the Industry
- 4.10 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
- 5.1 By Product Type
- 5.1.1 Freestanding
- 5.1.2 Built-In
- 5.2 By Distribution Channel
- 5.2.1 Multi Branded Stores
- 5.2.2 Exclusive Stores
- 5.2.3 Online
- 5.2.4 Others
- 5.3 By Geography
- 5.3.1 North America
- 5.3.2 Europe
- 5.3.3 Asia Pacific
- 5.3.4 Latin America
- 5.3.5 Middle East and Africa
- 5.4 By Application
- 5.4.1 Residential
- 5.4.2 Commercial
6 COMPETITIVE LANDSCAPE
- 6.1 Market Competion Overview
- 6.2 Company Profiles
- 6.2.1 Electrolux AB
- 6.2.2 Haier Group Corporation
- 6.2.3 LG Electronics Inc
- 6.2.4 Robert Bosch
- 6.2.5 Fagor
- 6.2.6 Whirlpool
- 6.2.7 Asko Appliances AB
- 6.2.8 Arcelik AS
- 6.2.9 Sears Holding Corporation
- 6.2.10 Aga Rangemaster Group
- 6.2.11 Miele
- 6.2.12 Dacor
- 6.2.13 Other Companies*
7 ANALYST VIEW AND FUTURE OF THE MARKET