South Korea Dishwasher Market Research Report, 2028

South Korea Dishwasher Market Research Report, 2028

Actual Market Research 28-02-2023 60 Pages Figures : 5 Tables : 12 Region : Asia-Pacific Country : Korea South Category : Consumer Goods & Services Appliances & Equipment

In South Korea, both built-in and freestanding dishwashers are used. However, built-in dishwashers are more commonly used in modern apartments and houses, while freestanding dishwashers are often used in smaller homes or for commercial purposes. In addition, many dishwashers in South Korea come with advanced features like automatic water softening, drying, and sterilization functions. In the 1990s, domestic manufacturers began producing dishwashers, which made them more affordable and accessible to a wider range of consumers. The introduction of built-in dishwashers, which fit seamlessly into the design of modern kitchens, further increased their popularity. The South Korean dishwasher market has expanded steadily as a result of factors such as rising disposable incomes, increased urbanisation, and shifting consumer preferences. Overall, the South Korean dishwasher market is expected to expand in the coming years as a result of factors such as increased consumer awareness of the benefits of using dishwashers, increased adoption of smart home appliances, and rising demand for energy-efficient dishwashers. The average price of dishwasher in South Korea is around USD 350 to USD 500 dollar. According to the research report “South Korea Dishwasher Market Research Report, 2028," published by Actual Market Research, the market is expected to add USD 98.75 Million by 2028. Personal disposable income growth, increased health and hygiene awareness, consumers' busy and hectic lifestyles, an increase in the number of small and medium-sized restaurants, growth of the tourism industry, an increase in the number of women employed, and an increase in the popularity of eating out are some of the major factors that exponentially contribute to the growth of the dishwasher market. People are increasingly using dishwashers and other smart kitchen appliances to improve their living conditions. Furthermore, demand for technologically advanced appliances and luxury goods have propelled the dishwasher market's growth. The Korean Energy Agency (KEA) sets minimum energy efficiency standards for dishwashers to promote the use of energy-efficient models and reduce greenhouse gas emissions. Manufacturers must comply with these standards and obtain certification from the KEA to sell their products in the country. In addition, the South Korean government has been implementing initiatives to encourage households to switch to energy-efficient appliances. For instance, the government has introduced subsidies and tax incentives for consumers who purchase energy-efficient appliances, including dishwashers. These measures are aimed at reducing energy consumption and greenhouse gas emissions, while promoting the use of more sustainable products. The dishwasher market in South Korea is divided into two categories: built-in and freestanding. Currently, the market is dominated by freestanding dishwashers because they are more affordable and widely available compared to other types of dishwashers such as built-in or integrated models. They are also easier to install, as they do not require custom cabinet fittings or modifications to existing cabinetry. This makes them an attractive option for many consumers who are looking for a simple and cost-effective solution for their dishwashing needs. Freestanding dishwashers are often more energy-efficient and water-efficient than other types of dishwashers. This is because they use their own heating elements and pumps to circulate and heat water, which can help reduce energy and water consumption compared to handwashing dishes. During the forecast period, it is expected that built-in dishwashers will dominate the market for dishwashers in South Korea due to several advantages, including a sleek and integrated appearance, more customised options in terms of size and design, and the ability to blend in seamlessly with existing cabinetry. The dishwasher market in South Korea is divided into four sales channels: Multi- Brand, Specialty Stores, online (E-commerce) and others. Multi-Brands currently dominate the dishwasher market in South Korea due to their wide selection of dishwashers from various brands with varying features, designs, and price points. Customers can compare different models and brands and choose the one that best fits their needs and budget. Multi-Brands generally have a high level of stock and availability of dishwashers, which can be important for customers who need a dishwasher quickly or who have specific requirements for delivery or installation. The Dishwasher market of South Korea is segmented by application type residential and commercial; currently the market is dominated by Residential sector due to High household ownership, increased housing construction, growing environmental awareness. During the forecast period it is expected that the market will be dominated by residential sector. Some of the main retailers of dishwasher in South Korea include E-Mart, Homeplus, Lotte Mart, and Hi-Mart. Considered in this report • Geography: South Korea • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • South Korea Dishwasher market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Application Type • Residential • Commercial By Type • Built-in • Free Standing By Distribution Channel • Multi-brand stores • Speciality stores • Online (ecom) • Other The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Dishwasher market, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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