Clothes Washers & Dryers Market in the United States - Forecast to 2022: Tariff on Imported Washers to Have a Significant Impact on the US Washer Market - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Oct 10, 2018--The “Clothes Washers and Dryers in the US” report has been added to ResearchAndMarkets.com’s offering.US demand for residential clothes washers and dryers is forecast to increase less than 1% per year through 2022.Demand will slow considerably from the particularly strong growth seen in the 2012-2017 period that included a cyclical low in 2012 as tax credits expired and strong yearly increases from 2013 to 2017.
Tariff on Imported Washers to Have a Significant Impact on the US Washer Market
Enacted in January 2018 by the Trump Administration, the tariff on imported washing machines will cause added costs of:20% for the first 1.2 million units imported50% for each additional unit imported
The tariff will be reduced in 2019 and 2020 and is currently set to expire in 2021. However, the tariff, which targets two of the leading washing machine suppliers -LG Electronics and Samsung Electronics- has resulted in both companies establishing capacity in the US.
Introduction of Smart Washers & Dryers to Encourage Early UpgradesAs smart home and Internet of Things (IoT) technology continues to develop in the US, appliance manufacturers have begun to develop and introduce connected washers and dryers. Most of the market leaders currently have connected washers in their product lineup, with most offering compatibility with the leading IoT platforms from Amazon, Apple, and Google.Such technological offerings encourage consumers to upgrade their washers and dryers as part of larger home renovation and, depending on the platform in the home, can lock consumers into certain brands.Market Leaders to Continue to Add Features to Differentiate Their Products
Because of the intense competition for market share among the leading suppliers, the inclusion of added features in their product lineup that can enhance consumer convenience is key to retaining and gaining sales. Such features include:a wider variety of wash/dry cycle options, providing consumers the ability to tailor the wash/dry cycle depending on the type of clothessensors that can detect the size of the wash load to determine how much water is necessary, or ones that can detect dampness in the dryer and adjust drying timeadding steam capabilities in washers and dryers that aid in releasing stains during the wash cycle and reducing wrinkles in the dry cycle
This study presents historical demand data (2007, 2012, and 2017) and forecasts (2022) by product type (washer and dryer). Demand is presented in units.
The study also evaluates company market share and provides analysis of leading manufacturers, including:ElectroluxHaierLG ElectronicsSamsung ElectronicsWhirlpool
For more information about this report visit https://www.researchandmarkets.com/research/wh2hfz/clothes_washers?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20181010005444/en/
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Related Topics:Household Appliances
KEYWORD: UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: HOME GOODS RETAIL
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 10/10/2018 07:00 AM/DISC: 10/10/2018 07:01 AM