About the Dishwashers Market in the US
Higher GNI, high spending capacity of higher income groups in the US, and a country that has dense population of early technology adopters makes the US an attractive market for technologically advanced home appliances. The demand for home appliances has increased considerably in the US in the last few years, owing to the increase in the replacement purchases, mostly triggered by expiry of product lifespan. However, a significant number of replacement purchases also take place for replacing older models with technologically advanced and improved product offerings. The need for a better lifestyle and more convenience has given rise to the demand for unique products worldwide. With growing digitalization, consumers are becoming tech-savvy and have strong knowledge regarding the usage and benefits of all modern appliances. Vendors are focusing on expanding their product lines and developing innovative products with the help of the latest advances in technology so as to attain a competitive advantage over their counterparts and to enhance their customer base.
Technavio’s analysts forecast the dishwasher market in the US to grow at a CAGR of 4.03% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the dishwasher market in the US for 2016-2020. To calculate the market size, Technavio considers the value of shipments of the types of dishwashers for the residential segment which include built-in dishwashers, and free-standing dishwashers.
Technavio's report, Dishwashers Market in the US 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Dishwasher Market in the US 2016-2020
Technavio recognizes the following companies as the key players in the Dishwasher Market in the US: Electrolux, GE, Robert Bosch, and Whirlpool.
Other Prominent Vendors in the market are: AGA Rangemaster Group, Arçelik, Asko Appliances AB, Décor, Fagor America, Haier, Kenmore, LG Electronics, Miele, Samsung, Smeg, and Viking Range.
Commenting on the report, an analyst from Technavio’s team said: “One trend fostering the prospects for growth in this market is the growing market for smart and technologically advanced dishwashers. To cash in on the growing demand for smart and technologically advanced products and to enhance their customer base, companies are focusing on incorporating smart features in dishwashers. Whirlpool, for instance, introduced its smart dishwasher with 6th sense technology that has a number of smart features like Control Lock Assistant, Smart Stats, Energy Advisor, and Smart Nudges.”
According to the report, changing kitchen designs is a major driver for this market. In a country like the US, there is a growing trend of consumers opting for kitchen appliances of compact size. This change in trends and preferences of consumers is encouraging vendors to add new streamlined appliances to their portfolio, which fulfill the needs of consumers. GE, for instance, manufactures under-the-sink dishwashers to cater to homeowners who have restricted space in their kitchens.
Further, the report states that the implementation of stringent government regulations will be detrimental to the growth of the market during the forecast period. Regulations introduced by the US government in 2015 restrict the water usage in residential dishwashers to 3.1 gallons per load. The DOE has implemented new efficiency standards for appliances including water heaters, refrigerators, and dishwashers to reduce the utility bills. This initiative is taken keeping sustainability and environment conservation in mind and is expected to lead to cost savings of nearly $520 billion by 2030.
Electrolux, GE, Robert Bosch, Whirlpool, AGA Rangemaster Group, Arçelik, Asko Appliances AB, Décor, Fagor America, Haier, Kenmore, LG Electronics, Miele, Samsung, Smeg, and Viking Range.