U.S. Washing Machine Parts Market Growth & Trends
The U.S. washing machine parts market size is expected to reach USD 6.33 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to expand at a CAGR of 4.3% from 2022 to 2030. This growth can be attributed to the upgrading lifestyle, and growth in disposable income coupled with rapid industrialization.
A recent trend is the use of technology to create washing machine parts that consume less water and energy. The U.S. market for washing machine parts is expanding as a result of changing lifestyles, rising disposable income, and the availability of cutting-edge technologies. Offline distribution channel is the dominant distribution channel in the U.S. washing machine parts industry. The offline medium enforces manufacturers and suppliers to introduce efficient marketing strategies.
The market is expected to witness growth over the forecast period owing to the increasing investments by foreign producers and global players. The U.S. is experiencing high economic growth. The spending power of the population in the U.S. is increasing. The consumer goods sector, which includes washing machines, is expected to grow over the forecast period. The continuous growth of the population is also positively impacting the consumer goods sector.
In the case of indirect distribution of machine parts, a manufacturer might choose to distribute its products through a short channel with few middlemen or through a long channel with many middlemen. The offline distribution channel is the shortest channel that a manufacturer opts to make its products & services available to customers. Manufacturers sell their products through third-party suppliers, retail stores, chain stores, and direct selling. Manufacturers and suppliers can increase the product reach through an optimum marketing strategy and reasonable pricing.
The apparel industry in the U.S. is exposed to constant upgrades and innovations in fabrics among other factors. To cater to the new and upgraded fabrics, the U.S. washing machine industry has to develop products that can handle the way these fabrics are being washed and dried without affecting their quality. This depends upon the way the fabric reacts to the agitator and drum of the machine while being washed. Hence, the development of smart washing machines with optimum parts is becoming prevalent to meet the demands of various existing and new textiles during the cleaning process. This is propelling the need to develop smart washing machine parts.
The online distribution channel is gaining importance in the U.S. due to the growing inclination of the population toward online shopping post-pandemic. The consumer gets to choose from a variety of brands’ products and services and price ranges depending upon the specific part that needs to be repaired or replaced. To cater to consumer demand, manufacturers and suppliers of cleaning appliance parts in the U.S. are establishing new online products and service-providing portals.
The prominent companies serving across the U.S. are focused on providing efficient product lines to be competent in the global market. Players like Beko U.S., Inc.; LG Electronics; Jenfab Cleaning Solutions; and Whirlpool Corporation are investing in R&D to facilitate new technologies to provide smart washing parts.
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U.S. Washing Machine Parts Market Report Highlights
- Online segment is growing at a CAGR of 4.2%, attributed to the increased digitalization. Consumers from remote areas and lesser accessible areas that do not house offline mediums of product sale can access the websites and online delivery portals to acquire the desired product through online mediums
- Offline distribution channel led the industry with a share of 90.8% in 2021. Manufacturers plan to offer their goods to clients directly or indirectly. It is a direct-to-consumer strategy, and the manufacturer completely controls the distribution process
- Offline distribution channel includes selling at the plant, door-to-door sales, service centers, wholesalers, and opening own selling outlets. The U.S. washing machine parts are readily available in offline mode
- The rise in the population in the U.S. and the migration of people from villages to cities has increased the need for washing appliances and the development of parts that meet the demand for the modern washing machine industry
Access Press Release@ https://www.grandviewresearch.com/press-release/us-washing-machine-parts-market-analysis
U.S. Washing Machine Parts Market Segmentation
Grand View Research has segmented the U.S. washing machine parts market based on distribution channel:
U.S. Washing Machine Parts Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)
- Online
- Offline
List of Key Players in the U.S. Washing Machine Parts Market
- Beko U.S., Inc.
- LG Electronics
- com.
- Sundberg America, Inc.,
- Jenfab Cleaning Solutions,
- Alliance Laundry Systems LLC,
- com,
- GE Appliances,
- Whirlpool Corporation
- Kellett Enterprises, Inc.
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
