China's Household Washing and Drying Machines Market to See Moderate Growth with CAGR of +2.5% - News and Statistics - IndexBox

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IndexBox has just published a new report: China - Household Washing and Drying Machines - Market Analysis, Forecast, Size, Trends and Insights.

Driven by increasing demand, the market for household washing and drying machines in China is expected to see steady growth in both volume and value over the next decade. The market is projected to experience a CAGR of +2.5% in terms of volume and +3.3% in terms of value from 2024 to 2035, reaching 105 million units and $21.4 billion, respectively, by the end of the forecast period.

Driven by increasing demand for household washing and drying machines in China, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.5% for the period from 2024 to 2035, which is projected to bring the market volume to 105M units by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.3% for the period from 2024 to 2035, which is projected to bring the market value to $21.4B (in nominal wholesale prices) by the end of 2035.

In 2024, consumption of household washing and drying machines decreased by -1.8% to 80M units, falling for the second consecutive year after four years of growth. Overall, the total consumption indicated a perceptible expansion from 2013 to 2024: its volume increased at an average annual rate of +3.8% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -15.0% against 2022 indices. Over the period under review, consumption reached the maximum volume at 94M units in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

The value of the washing and drying machine market in China shrank to $15.1B in 2024, which is down by -7.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a temperate expansion from 2013 to 2024: its value increased at an average annual rate of +3.0% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -23.2% against 2022 indices. Over the period under review, the market reached the maximum level at $19.6B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

In 2024, the amount of household washing and drying machines produced in China rose to 115M units, picking up by 1.8% on the previous year's figure. In general, the total production indicated moderate growth from 2013 to 2024: its volume increased at an average annual rate of +4.2% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -1.7% against 2022 indices. The growth pace was the most rapid in 2019 when the production volume increased by 7.4%. Over the period under review, production hit record highs at 117M units in 2022; however, from 2023 to 2024, production remained at a lower figure.

In value terms, washing and drying machine production reduced to $13.6B in 2024 estimated in export price. The total output value increased at an average annual rate of +2.2% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 when the production volume increased by 24% against the previous year. Over the period under review, production attained the peak level at $16.8B in 2022; however, from 2023 to 2024, production remained at a lower figure.

In 2024, supplies from abroad of household washing and drying machines decreased by -15.4% to 182K units, falling for the third consecutive year after three years of growth. Over the period under review, imports, however, saw a resilient increase. The pace of growth was the most pronounced in 2014 when imports increased by 123% against the previous year. Over the period under review, imports reached the peak figure at 511K units in 2021; however, from 2022 to 2024, imports remained at a lower figure.

In value terms, washing and drying machine imports dropped to $122M in 2024. Overall, imports, however, posted prominent growth. The most prominent rate of growth was recorded in 2014 when imports increased by 110% against the previous year. Over the period under review, imports reached the peak figure at $320M in 2021; however, from 2022 to 2024, imports failed to regain momentum.

South Korea (47K units), Germany (40K units) and Poland (34K units) were the main suppliers of washing and drying machine imports to China, with a combined 66% share of total imports. Slovenia, the Czech Republic, Turkey, Italy, Switzerland and Japan lagged somewhat behind, together comprising a further 29%.

From 2013 to 2024, the biggest increases were recorded for Slovenia (with a CAGR of +73.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest washing and drying machine suppliers to China were Germany ($39M), Poland ($21M) and South Korea ($20M), together accounting for 66% of total imports. The Czech Republic, Slovenia, Switzerland, Turkey, Italy and Japan lagged somewhat behind, together accounting for a further 30%.

Slovenia, with a CAGR of +84.3%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Drying machines; of a dry linen capacity not exceeding 10kg (111K units), washing machines; household or laundry-type, fully-automatic, (of a dry linen capacity not exceeding 10kg) (73K units) and washing machines; household or laundry-type, not fully-automatic, without built-in centrifugal drier, of a dry linen capacity not exceeding 10kg (424 units) were the main products of washing and drying machine imports to China, with a combined 99.9% share of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the major product types, was attained by drying machines; of a dry linen capacity not exceeding 10kg (with a CAGR of +20.4%), while imports for the other products experienced more modest paces of growth.

In value terms, drying machines; of a dry linen capacity not exceeding 10kg ($64M), washing machines; household or laundry-type, fully-automatic, (of a dry linen capacity not exceeding 10kg) ($58M) and washing machines; household or laundry-type, not fully-automatic, without built-in centrifugal drier, of a dry linen capacity not exceeding 10kg ($18K) constituted the most imported types of household washing and drying machines in China, with a combined 99.9% share of total imports.

Among the main product categories, drying machines; of a dry linen capacity not exceeding 10kg, with a CAGR of +22.6%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other products experienced mixed trend patterns.

The average washing and drying machine import price stood at $671 per unit in 2024, remaining relatively unchanged against the previous year. Over the period under review, the import price enjoyed a perceptible increase. The pace of growth was the most pronounced in 2018 an increase of 48% against the previous year. Over the period under review, average import prices reached the maximum in 2024 and is likely to see steady growth in the immediate term.

Prices varied noticeably by the product type; the product with the highest price was washing machines; household or laundry-type, fully-automatic, (of a dry linen capacity not exceeding 10kg) ($797 per unit), while the price for washing machines; household or laundry-type, not fully-automatic, without built-in centrifugal drier, of a dry linen capacity not exceeding 10kg ($43 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by washing machines; household or laundry-type, fully-automatic, (of a dry linen capacity not exceeding 10kg) (+5.5%), while the prices for the other products experienced more modest paces of growth.

The average washing and drying machine import price stood at $671 per unit in 2024, approximately reflecting the previous year. Over the period under review, the import price showed a tangible expansion. The pace of growth appeared the most rapid in 2018 when the average import price increased by 48% against the previous year. Over the period under review, average import prices attained the peak figure in 2024 and is likely to continue growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Switzerland ($1.1 thousand per unit), while the price for Turkey ($397 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by South Korea (+8.0%), while the prices for the other major suppliers experienced more modest paces of growth.

In 2024, exports of household washing and drying machines from China stood at 35M units, picking up by 11% against 2023 figures. In general, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 when exports increased by 50% against the previous year. The exports peaked in 2024 and are expected to retain growth in years to come.

In value terms, washing and drying machine exports amounted to $4.2B in 2024. Over the period under review, total exports indicated a perceptible increase from 2013 to 2024: its value increased at an average annual rate of +3.3% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +66.7% against 2016 indices. The pace of growth was the most pronounced in 2021 when exports increased by 18% against the previous year. Over the period under review, the exports reached the peak figure in 2024 and are likely to continue growth in the immediate term.

Japan (3.3M units), Russia (2M units) and France (1.5M units) were the main destinations of washing and drying machine exports from China, with a combined 19% share of total exports. The UK, the United States, Indonesia, Italy, the Philippines, Malaysia, Australia, Saudi Arabia and the United Arab Emirates lagged somewhat behind, together accounting for a further 27%.

From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Italy (with a CAGR of +20.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for washing and drying machine exported from China were Japan ($466M), Russia ($259M) and France ($222M), together accounting for 23% of total exports. The UK, Australia, Italy, the United States, the United Arab Emirates, Malaysia, Indonesia, Saudi Arabia and the Philippines lagged somewhat behind, together accounting for a further 25%.

Italy, with a CAGR of +19.7%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Washing machines; household or laundry-type, fully-automatic, (of a dry linen capacity not exceeding 10kg) (23M units) was the largest type of household washing and drying machines exported from China, with a 64% share of total exports. Moreover, washing machines; household or laundry-type, fully-automatic, (of a dry linen capacity not exceeding 10kg) exceeded the volume of the second product type, washing machines; household or laundry-type, with built-in centrifugal drier, (not fully-automatic), of a dry linen capacity not exceeding 10kg (6M units), fourfold. Drying machines; of a dry linen capacity not exceeding 10kg (4M units) ranked third in terms of total exports with an 11% share.

From 2013 to 2024, the average annual rate of growth in terms of the volume of washing machines; household or laundry-type, fully-automatic, (of a dry linen capacity not exceeding 10kg) exports totaled +6.2%. With regard to the other exported products, the following average annual rates of growth were recorded: washing machines; household or laundry-type, with built-in centrifugal drier, (not fully-automatic), of a dry linen capacity not exceeding 10kg (-0.3% per year) and drying machines; of a dry linen capacity not exceeding 10kg (+14.7% per year).

In value terms, washing machines; household or laundry-type, fully-automatic, (of a dry linen capacity not exceeding 10kg) ($3.2B) remains the largest type of household washing and drying machines exported from China, comprising 77% of total exports. The second position in the ranking was held by drying machines; of a dry linen capacity not exceeding 10kg ($602M), with a 15% share of total exports. It was followed by washing machines; household or laundry-type, with built-in centrifugal drier, (not fully-automatic), of a dry linen capacity not exceeding 10kg, with a 7.3% share.

From 2013 to 2024, the average annual rate of growth in terms of the value of washing machines; household or laundry-type, fully-automatic, (of a dry linen capacity not exceeding 10kg) exports totaled +2.8%. With regard to the other exported products, the following average annual rates of growth were recorded: drying machines; of a dry linen capacity not exceeding 10kg (+12.2% per year) and washing machines; household or laundry-type, with built-in centrifugal drier, (not fully-automatic), of a dry linen capacity not exceeding 10kg (-1.7% per year).

The average washing and drying machine export price stood at $118 per unit in 2024, falling by -3.6% against the previous year. Overall, the export price showed a slight slump. The most prominent rate of growth was recorded in 2021 when the average export price increased by 15%. The export price peaked at $179 per unit in 2016; however, from 2017 to 2024, the export prices remained at a lower figure.

There were significant differences in the average prices for the major types of exported product. In 2024, the product with the highest price was drying machines; of a dry linen capacity not exceeding 10kg ($152 per unit), while the average price for exports of washing machines; household or laundry-type, not fully-automatic, without built-in centrifugal drier, of a dry linen capacity not exceeding 10kg ($24 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for the following types: washing machines; household or laundry-type, with built-in centrifugal drier, (not fully-automatic), of a dry linen capacity not exceeding 10kg (-1.5%), while the prices for the other products experienced a decline.

The average washing and drying machine export price stood at $118 per unit in 2024, shrinking by -3.6% against the previous year. Overall, the export price showed a slight decline. The pace of growth was the most pronounced in 2021 when the average export price increased by 15%. Over the period under review, the average export prices reached the peak figure at $179 per unit in 2016; however, from 2017 to 2024, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2024, amid the top suppliers, the country with the highest price was Australia ($166 per unit), while the average price for exports to the Philippines ($59 per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (-0.4%), while the prices for the other major destinations experienced a decline.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for washing and drying machine in China. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

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