Household Laundry Equipment Market
The global household laundry equipment market is expected to see steady growth in both volume and value over the period from 2022 to 2030. The United States leads in consumption, production, import, and export of household laundry equipment. Market performance shows a mix of growth and decline in recent years, with fluctuations in consumption, production, import, and export prices. Despite challenges, the market remains resilient with opportunities for future growth.
Market Forecast
Driven by increasing demand for household laundry equipment worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.2% for the period from 2022 to 2030, which is projected to bring the market volume to 409M units by the end of 2030.
In value terms, the market is forecast to increase with an anticipated CAGR of +5.9% for the period from 2022 to 2030, which is projected to bring the market value to $8.1B (in nominal prices) by the end of 2030.
Consumption
World Consumption of Household Laundry Equipment
After two years of growth, consumption of household laundry equipment decreased by -6% to 316M units in 2022. In general, consumption, however, saw strong growth. Global consumption peaked at 337M units in 2021, and then declined in the following year.
The global household laundry equipment market value dropped to $5.1B in 2022, reducing by -6.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, posted prominent growth. Over the period under review, the global market attained the maximum level at $5.5B in 2021, and then contracted in the following year.
Consumption By Country
The country with the largest volume of household laundry equipment consumption was the United States (316M units), comprising approx. 100% of total volume.
In the United States, household laundry equipment consumption expanded at an average annual rate of +5.9% over the period from 2013-2022.
In value terms, the United States ($5.1B) led the market, alone.
In the United States, the household laundry equipment market expanded at an average annual rate of +5.4% over the period from 2013-2022.
In the United States, household laundry equipment per capita consumption expanded at an average annual rate of +5.2% over the period from 2013-2022.
Production
World Production of Household Laundry Equipment
In 2022, the amount of household laundry equipment produced worldwide totaled 15M units, increasing by 2.8% against the previous year's figure. The total output volume increased at an average annual rate of +2.6% over the period from 2013 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 9% against the previous year. Over the period under review, global production hit record highs in 2022 and is expected to retain growth in the near future.
In value terms, household laundry equipment production totaled $4.5B in 2022 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2013 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 9% against the previous year. Global production peaked in 2022 and is likely to see gradual growth in the near future.
Production By Country
The United States (15M units) remains the largest household laundry equipment producing country worldwide, accounting for 100% of total volume.
From 2013 to 2022, the average annual growth rate of volume in the United States totaled +2.6%.
Imports
World Imports of Household Laundry Equipment
In 2022, purchases abroad of household laundry equipment decreased by -6.7% to 308M units for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, showed prominent growth. The pace of growth appeared the most rapid in 2020 when imports increased by 268%. Over the period under review, global imports hit record highs at 330M units in 2021, and then contracted in the following year.
In value terms, household laundry equipment imports declined to $2.8B in 2022. The total import value increased at an average annual rate of +3.8% over the period from 2013 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 25%. As a result, imports attained the peak of $3.1B, and then reduced in the following year.
Imports By Country
The purchases of the one major importers of household laundry equipment, namely the United States, represented more than two-thirds of total import.
The United States was also the fastest-growing in terms of the household laundry equipment imports, with a CAGR of +6.2% from 2013 to 2022. The shares of the largest importers remained relatively stable throughout the analyzed period.
In value terms, the United States ($2.8B) constitutes the largest market for imported household laundry equipment worldwide.
In the United States, household laundry equipment imports expanded at an average annual rate of +3.8% over the period from 2013-2022.
Import Prices By Country
The average household laundry equipment import price stood at $9.1 per unit in 2022, falling by -3.1% against the previous year. Overall, the import price saw a pronounced descent. The most prominent rate of growth was recorded in 2017 when the average import price increased by 41% against the previous year. As a result, import price attained the peak level of $36 per unit. From 2018 to 2022, the average import prices failed to regain momentum.
As there is only one major supplying country, the average price level is determined by prices for the United States.
From 2013 to 2022, the rate of growth in terms of prices for the United States amounted to -2.3% per year.
Exports
World Exports of Household Laundry Equipment
In 2022, after three years of growth, there was significant decline in overseas shipments of household laundry equipment, when their volume decreased by -19.7% to 6.3M units. Overall, exports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2020 with an increase of 275%. The global exports peaked at 7.9M units in 2021, and then shrank rapidly in the following year.
In value terms, household laundry equipment exports expanded significantly to $598M in 2022. Over the period under review, exports continue to indicate a mild slump. The global exports peaked at $720M in 2015; however, from 2016 to 2022, the exports failed to regain momentum.
Exports By Country
The biggest shipments were from the United States (6.3M units), together resulting at 100% of total export.
The United States was also the fastest-growing in terms of the household laundry equipment exports, with a CAGR of +14.9% from 2013 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.
In value terms, the United States ($598M) also remains the largest household laundry equipment supplier worldwide.
From 2013 to 2022, the average annual rate of growth in terms of value in the United States stood at -1.3%.
Export Prices By Country
The average household laundry equipment export price stood at $95 per unit in 2022, jumping by 43% against the previous year. Over the period under review, the export price, however, saw a deep setback. The global export price peaked at $427 per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.
As there is only one major export destination, the average price level is determined by prices for the United States.
From 2013 to 2022, the rate of growth in terms of prices for the United States amounted to -14.2% per year.
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