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Report
Canada Laundry Appliances Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 150 Pages I Mordor Intelligence
COVID-19 has impacted the sales of many consumer durable companies. Companies have to stop their production of home appliances due to lockdown. The supply chain of the Laundry Appliances was completely disrupted in Canada. Online platforms like Amazon and Flipkart have temporarily stopped selling products. Many retail outlets are closed, which has caused the sales of the consumer appliance to fall to halves from the previous year.
A laundry appliance is a machine or system used to wash clothes and cloth sheets. The use of domestic Laundry Appliances is not limited to washing only. These appliances are also used for cloth drying purposes. Growth in garment purchasing is one of the key factors associated with the market growth of domestic Laundry Appliances. Due to the rising income levels of individuals, people prefer to purchase a larger number of clothes and to maintain them clean and safe. Subsequently, their investment in various domestic Laundry appliances is growing in Canada. The younger generation does not have adequate time to spend on these tedious physical activities and prefers to use laundry appliances.
The demand for domestic Laundry Appliances is seen more in urban markets, especially in high-tier cities. Growing investment in research and development of various domestic Laundry Appliances and the introduction of innovative technology further help in the growth of the domestic Laundry Appliances Market in Canada. An increase in the number of working women, Growing urbanization, and product upgrading are also some of the important factors for the growth of the Laundry Appliances Market in Canada. The introduction of new features in washing machines such as large capacity, fast spin speeds, high energy consumption, and digital display provides comfort and gives better experiences to the user. More than half of the home appliance market consists of automatic washing machines, followed up by low or no-frills washing machines and irons. The addition of such new features in laundry appliances further helps to boost the Laundry Appliances market.
Canada Laundry Appliances Market Trends
Increase in the online sales of the Laundry Appliances in Canada
There has been a gradual increase in the online sales of Laundry Appliances, and it is expected to increase furthermore in the coming years. This is due to the presence of many online buying platforms and the process of buying on these platforms is easier. Also, buying the products online can save a lot of time, and even the current lifestyles of the majority of people are hectic. The online platforms are like "one click way" for purchasing Laundry Appliances. In addition, online buying platforms are selling the Laundry Appliances at a relatively lower price than an offline store. In 2020 and 2021, the sales through online channels were much higher than the previous years due to the effect of COVID -19. All these factors accounted for the significant rise in sales through the online channel, and this trend is expected to continue in the coming years.
Increase in the need for a smart laundry appliance as per current lifestyle in Canada
Technological developments and increased customer disposable income are anticipated to boost the home laundry appliances market over the coming years. Also, high living standards, improved quality of life, and easy-to-use home appliances are factors estimated to further substantiate the home laundry appliances market growth in the forecast period. Automatic Laundry appliances have been in demand in the market for more than five years owing to their advanced features, making the operating process even more comfortable. Additionally, several personality features of home laundry appliances such as smart functionality, elegant design, sustainability, diversity, and effectiveness are predicted to escalate the home laundry appliances market growth.
Canada Laundry Appliances Market Competitor Analysis
The report covers major players in the Canada Laundry Appliances Market. In terms of market share, LG and Whirlpool occupy nearly 40% of the market share, followed by Samsung with a market share of 15 %. GE and Kenmore collectively occupy nearly 20% of the market share. The Canada Laundry Appliances Market is consolidated, with 4 to 5 major players occupying more than 75% of the market share.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Value Chain / Supply Chain Analysis
4.5 Porter's Five Forces Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Insights into Technological Advancements in the Industry
4.7 Impact of COVID -19 on the Market
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Freestanding
5.1.2 Built in
5.2 Product
5.2.1 Washing Machines
5.2.2 Dryers
5.2.3 Electric Smoothing Irons
5.2.4 Others
5.3 Technology
5.3.1 Automatic
5.3.2 Semi-Automatic/ Manual
5.3.3 Others
5.4 Distribution Channel
5.4.1 Multi-Brand Stores
5.4.2 Exclusive Stores
5.4.3 Online
5.4.4 Other Distribution Channels
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 LG
6.2.2 Whirlpool
6.2.3 Samsung
6.2.4 GE
6.2.5 Kenmore
6.2.6 Maytag
6.2.7 Electrolux
6.2.8 Haier
6.2.9 Panda
6.2.10 XtremePowerUS
6.2.11 Pyle*
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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