The analysts forecast global household laundry care cabinets market to grow at a CAGR of 7.31% during the period 2018-2022. The latest trend gaining momentum in the market is rising online sales of household laundry care cabinets.
Increasing online sales of household laundry care cabinets are expected to emerge as pivotal factors driving the market during the forecast period.
The key leading vendors in the market like Gorenje (Asko Appliances and UPO) and Whirlpool Corporation have a huge online presence and have started selling products through their own websites or listing products on other e-commerce sites.
Major key players in the global household laundry care cabinets market: G&E Automatic Equipment, Gorenje, Nimoverken, PODAB, Whirlpool Corporation.
According to the household laundry care cabinets market report, one of the major drivers for this market is Technology innovation and portfolio extension leading to product premiumization. Vendors are strengthening their product mix by introducing high-priced variants of laundry care cabinets.
Brands also work with varied materials to enhance their product portfolios. Innovations in design also allow the key vendors and brands to maintain high brand associations and create product differentiation and value proposition for potential and prospective customers.
Every material and design is marketed with key messages to create product differentiation and widen the product portfolio of assorted brands.
Further, the household laundry care cabinets market report states that one of the major factors hindering the growth of this market is Fluctuations in cost of raw materials. Raw materials used in household laundry care cabinets are metal, aluminum, clothe hangers, condensers, compressors, and fans to circulate air inside the cabinet.
The rise in prices of metal and addition of smart connected technology and programs can affect the profit margins of manufacturers and distributors and ultimately result in high cost for end-consumers. This is a great challenge for manufacturers.
Report at www.reportsnreports.com/.aspx?name=1317638.
Key questions answered in this report:
What will the market size be in 2022 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?