According to a new report, titled, “Dishwasher Market by Product, Application, and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2021-2030″. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends. The global dishwasher market size was valued at US$ 25,370.0million in 2020 and is projected to reach $ 54,293.4 million by 2030, growing at a CAGR of 7.5% during the forecast period 2021 to 2030.
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The rise in the number of employment resulted in busy and hectic schedules. The busy lifestyle of the consumers resulted in higher adoption of dishwashers as the consumers do not have enough time to invest in the regular household chores. Moreover, rise in the female working population have significantly boosted the sales of the dishwashers especially in the developed markets and a similar trend is expected to be witnessed in the developing markets. Further, increase in number of nuclear families has exponentially boosted the demand for the dishwasher market. Portable dishwashers perfectly serves the budget limitations, space limitations, and effective dish cleaning needs of the small families.
In recent times, rise in number of small-sized foodservice entities across the world drives the consumption of dishwasher as foodservice industry is experiencing rapid growth across the globe. Foodservice entities refer to those companies, businesses, institutions, and organizations that prepare meal and serve them to the consumers or customers. Foodservice entities include restaurants, catering units, hotels, cafeterias, and similar other units, which are the major end-users of dishwasher. Apart from this, rapid urbanization has led to an expansion in modern retail formats such as departmental stores, multiband stores, wholesalers, specialty stores, and online retails, which contributes toward an increase in the global sales of dishwashers, thereby driving the growth of the dishwasher market globally.
According to the dishwasher market analysis, based on the product type, the built-in dishwashers accounted for 68.6% of the global dishwasher market share in 2020. This is primarily due to the higher adoption of built-in dishwashers in the households and commercial spaces of developed markets. As per the dishwasher market forecast, based on the application, the households segment is the dominating segment and is projected to be the fastest-growing segment owing to the surge in adoption of technologically advanced and cost-effective dishwashers.
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According to the dishwasher market trends, depending on the distribution channel, online retails segment is expected to be the trending channel across the globe owing to the rise in penetration of internet, ease &convenience of shopping, and growth in popularity of online retail platforms such as Amazon, eBay, Walmart, and Flipkart.
The Covid-19 pandemic has a vital impact on the growth of the global dishwasher market and altered several market scenarios. The lockdown across various countries and ban on international travel has disrupted the supply chain and revenue chain. The report includes a thorough analysis of the Covid-19 pandemic on the growth of the global dishwasher market.
Players operating in the global dishwasher market have adopted various developmental strategies to expand their market share, exploit the market opportunities, and increase profitability in the market. The key players profiled in this report include Asko Appliances AB, FagorElectrodomestico, Haier Group Corporation, LG Electronics, Inc., Middleby Corporation, Miele& Cie. KG, Robert Bosch GmbH, Samsung Electronics Co. Ltd., Whirlpool Corporation, and Baumatic Ltd.
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Key Findings of the Study:
○ Based on type segment, the built-in dishwashers accounted for the highest market share in 2020, growing at a CAGR of 9.6% and portable dishwasherswas the fastest growing type with a CAGR of 11.20% between the years 2021 and 2030.
○ On the basis of application, the households segment accounted for about 69.0% of market share in 2020. However, the commercialsegment is expected to grow at a CAGR of 9.6% during the forecast period, owing to increase in consumer standards and improved economic stability.
○ Based on region, North America accounted for about 37.7% of the market share in 2020 and is expected to grow at a CAGR of 9.50% during the forecast period.
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