Dishwasher Market to Reach $54.29 Bn, Globally, by 2030 at 7.5% CAGR: Allied Market Research
Increasing popularity of eating-out culture and rise in the number of small-sized food service entities drive the growth of the global dishwasher market.
PORTLAND, Ore., Nov. 3, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Dishwasher Market by Product (Built-in Dishwashers, Portable Dishwashers, and Drawer Dishwashers),Application (Households and Commercial), and Distribution Channel (Multi-brand Stores, Wholesalers, Specialty Stores, Online Retails, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global dishwasher industry was estimated at $25.37 billion in 2020, and is anticipated to hit $54.29 billion by 2030, registering a CAGR of 7.5% from 2021 to 2030.
Drivers, restraints, and opportunities-
Increase in popularity of eating-out culture, rise in the number of small-sized foodservice entities, changes in lifestyle, growing disposable income, and surge inexpenditure on home improvement drive the growth of the global dishwasher market. On the other hand, long replacement cycle and lack of proper electrification restrain the growth to some extent. However, rapid growth of the retail sector is anticipated to create lucrative opportunities in the industry.
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COVID-19 scenario-
- The outbreak of the pandemic has given way to increased awareness among the consumers regarding cleanliness and hygiene, thereby boosting the global dishwasher market positively.
- This trend is most likely to continue post pandemic as well.
The households segment to dominate by 2030-
Based on application, the households segment dominated with the largest share in 2020, holding more than two-thirds of the global dishwasher market. The same segment is also expected to cite the fastest CAGR of 10.3% throughout the forecast period, due to increase in consumer expenditure on home appliances.
The multibrand stores segment to maintain the dominant share-
Based on distribution channel, the multibrand stores segment held the highest market share in terms of revenue, accounting for nearly one-third of the global dishwasher market. This is attributed to the fact that multi-brand stores like supermarkets & hypermarkets offer a wide variety of dishwashers under a single roof. Simultaneously, the online retails segment is estimated to exhibit the fastest CAGR of 11.2% during the forecast period. This is because increase in penetration of various online portals globally and rise in number of offers or discounts drive consumers to purchase consumer durables through online channels.
North America garnered the major share in 2020-
Based on region, the market across North America dominated the market with major share in 2020, accounting for nearly two-fifths of the global dishwasher market, due to increased usage of energy-efficient dishwashers in this province. On the other hand, the market across Asia-Pacific is expected to witness the fastest CAGR of 11.1% from 2021 to 2030. Rise in urbanization and high standard of living of people, especially in the developing countries such as India and China drive the growth of the global dishwasher market.
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Key players in the industry-
- Fagor Electrodomestico
- Haier Group Corporation
- LG Electronics, Inc.
- Miele& Cie. KG
- Asko Appliances AB
- Robert Bosch GmbH,
- Baumatic Ltd.
- Samsung Electronics Co. Ltd.
- Whirlpool Corporation
- Middleby Corporation.
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