Washing Machine No Longer a Luxury Product but a Utilitarian Product in India: Bonafide Research

The washing machine has become a necessity in the daily lives of the people. Its demand has been increasing in India due to increasing availability of new innovative models in the market and increasing PPP of the Indian middle class families. It is no longer a luxury product but a utilitarian product. The market is flooded with numerous leading electronics brands presenting a huge variety of models to choose from. It is available from a normal large-sized look to more portable and stylish look such as top loading, front loading, fully automatic, and semi-automatic. New innovative washing machines include Bluetooth technology and a messaging feature through which it can receive recommendations and control settings even when the user is away from home. According to recently published report of Bonafide Research "India Washing Machine Market Outlook 2021", washing machine sales volume are expected to cross 14 million units by the end of 2021. The rising income levels, fast growing working women population, improving living standards, rapid urbanization, changing environmental dynamics and different payment options are driving the growth of this segment. Energy efficiency, stainless steel, new designs, bright colours, child lock are the key trends in washing machine. Players are now focusing on enhancing their product offering at various price points to provide consumers with affordable varieties. LG and Samsung turn out to be the biggest players in the washing machine market in India followed by others such as Whirlpool, Videocon, Godrej, Onida, IFB, Haier, etc. LG India dominates the semi automatic washing machine market while Samsung is dominating the fully automatic washing machine market. In semi automatic, LG is offering best washing machine with average price range of Rs 8000 with 6 to 6.2 kg capacity. In automatic top load category, Samsung is offering best washing machine with price range of average Rs 14000 with 5.5 to 6.5 kg capacities. In auto front load IFB Company is offering best washing machine with price range of average 25000Rs with 5.5 kg to 6.5 kg capacity. With regards to zone, the northern part of India has the highest market share, followed by the southern part. The people of north India prefers semi automatic washing machine while in south India the completely automatics are more preferable. The western region is growing significantly due to more manufacturing plants and eastern region has the lowest market share.