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(MoneyNewsWire.Net, September 27, 2018 ) Globally, dishwasher market is projected to grow at the rate of 6.2% during the forecast period 2018 to 2023. Growing popularity of dishwashers for industrial use as it helps to save time, water, and man power, is driving the market growth from last few years. Easy availability and advancement in technology is influencing consumers to buy dishwashers, especially in developing economies. Growing influence of western lifestyle is likely to boost the sales of dishwashers in Asia-Pacific region. Kitchen appliance makers are focusing on continuous technological innovations in the field of electronics kitchen appliances to add more values to their products and to enhance their functionality. This will enable them to enhance the convenience of users. The rapidly evolving designs of kitchen appliances will also drive the growth of the dishwasher market during the forecast period 2018 to 2023.
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Growing Product Innovation to Drive the Growth of Dishwasher Market
Product innovation allows key players to promote their products and services by considering country-specific requirements. Technological development in dishwasher allows the vendors to customize the components of a product for a target market which is likely to change market dynamics in upcoming years. Rising influence of printed or online documentation, websites, advertising campaigns, and other marketing communication materials for dishwashers is influencing the sales of dishwashers. Key players are focusing on product innovation in dishwasher 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, is likely to support the market growth. In developed economies, increasing consumer inclination to replace an old dishwasher or undergoing a kitchen renovation is anticipated to drive demand during the forecast period.
Online Retail Stores Segment to Witness Fastest Growth during the Forecast Period
The global dishwasher market is led by the offline retail store segment as reach of kitchen appliances including dishwashers through specialty stores and convenience stores is high in developing countries. Growing number of startups, which provide customized kitchen solutions, is influencing the sales of various type of dishwashers from last few years. Many online retail stores create events to drive sales through themed promotions, such as with the Diwali, Christmas, Rugby World Cup etc. which is supporting the sales of dishwashers though online retail stores market. The seamless shopping experience with the dominance of private label brands and rising internet penetration is encouraging consumers to buy dishwashers online.
Increasing Demand of Dishwashers for Industrial Application to Witness demand in Asia-Pacific Region
In Asia-Pacific, increasing preference for hustle free lifestyle and growing industrial application of dishwashers are supporting the growth of 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 Asia-Pacific region, China is likely to continue its dominance due to growing demand of dishwashers along with various kitchen appliances. In North America, key players are focusing on expansion, for example, Sub-Zero Freezer Co based in the US completed the USD 62 million expansion of one of its manufacturing plants in Fitchburg, Wisconsin in 2016.
Key Developments in the Dishwasher Market
June 2018 - German ware-washing company Meiko has launched a new hood type dishwasher to its M-iClean under counter range called M-iClean H. The new addition offers new features such as a hood that opens and closes automatically, a drying table, stainless steel pipework, waste water heat recovery, and a mechanism designed to stop heat escaping from the machine.
June 2018 - Bosch launched budget-friendly 100 Series dishwashers that features a fingerprint resistant finish and useful extras like a third rack for prices starting at USD499.
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Competitive Landscape of Dishwasher Market
Major Key Players - AGA Rangemaster Group Limited, Arçelik A.?., Asko Appliances AB, Candy Hoover Group Srl, Dacor, Inc., Electrolux AB, Fagor America, Inc., GE Appliances, Haier Group Corporation, LG Electronics Inc., Robert Bosch GmbH and Whirlpool Corporation, among others.
Reasons to Purchase this Dishwasher Market Research Report
Analyzing outlook of the market with the recent trends and Porters five forces analysis
Market dynamics, which essentially consider the factors, which are impelling the present market scenario, along with growth opportunities of the market in the years to come
Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market
Competitive landscape involving the market share of major players, along with the key strategies adopted for development in the past five years
Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
3-month analyst supports, along with the Market Estimates sheet in excel
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