Market Insights Consumer Household Appliances Major Appliances

Washing Machines - South Korea

South Korea

In 2024, the Washing Machines market in South Korea generated a total revenue of US$0.72bn.
It is projected to grow annually by 3.13% (CAGR 2024-2029).
When compared globally, in China leads the market with a revenue of US$17,120m in 2024.
Taking into account the total number of households, the per household revenue in the Washing Machines market is estimated to be US$33.16 in 2024.
Looking ahead to 2029, the volume in the Washing Machines market is expected to reach 1.8m pieces.
However, in 2025, the segment is anticipated to experience a slight decline in volume growth, with a rate of 1.7%.
In terms of average volume per household in the Washing Machines market, it is projected to be 0.08pieces in 2024.
This data highlights the significance of the Washing Machines market in South Korea and its potential for growth and development.
In South Korea, the demand for high-tech and energy-efficient washing machines is on the rise, with consumers increasingly seeking innovative features and eco-friendly options.

Key regions: India, Japan, Worldwide, Europe, Germany

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on Household Appliances.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, trade data, national statistical office data, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global Survey), as well as performance factors. In addition, we use relevant key market indicators and data from country-specific associations, such as number of households, consumer spending, and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques, such as exponential trend smoothing, for instance. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Survey data is reweighted for representativeness.