According to MarkNtel Advisors, the Global Washing Machine Market is projected to grow at a CAGR of around 5.2% CAGR during 2023-28. The growth of the market is projected to be driven primarily by the growing focus of consumers on maintaining hygiene and their increasing inclination toward automated household chores, i.e., demonstrating a higher sale rate for washing machines across different countries worldwide.
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As developments are rapidly taking place to make life easier, technological innovations in washing machines are nowhere behind. Many prominent companies are indulged in numerous research & development activities, bringing modern solutions with increased usage of IoT technologies in these machines. It, in turn, demonstrates betterment in the simplicity of the washing process with features like monitoring, alerts, & control through smart devices, making it much more convenient for the users to operate in their busy schedules.
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Much High Power Consumption: A Big Concern for Most Consumers – As high power utilization by these machines is a severe concern for many consumers, their sales might register a slow growth pace in a few regions, particularly underdeveloped or rural areas. For instance: leading brands like Reliance Digital, Samsung, and others, have models with power consumptions of over 2000 watts, which might not showcase a decent demand for these machines across all regions and negatively influence the fledged growth of the Global Washing Machine Market during 2023-28.
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