The global electric dryers market was worth US$ 10.7 Billion in 2018. An electric dryer refers to a home appliance which is utilized to remove moisture from clothes, beddings and other textile products. It functions with the help of a rotating drum or tumbler that holds the clothes, an electrically powered heater that heats the air inside the tumbler, and an exhaust vent that passes out water in the form of steam. Electric dryers are rapidly replacing gas dryers which emit carbon dioxide in the atmosphere. Moreover, electric dryers have become a necessity in majority of the households owing to altering lifestyles, extended working hours and elevating per capita incomes. Looking forward, the market value is projected to exceed US$ 13.4 Billion by 2024, exhibiting a CAGR of around 4% during 2019-2024.
Global Electric Dryers Market Drivers:
- As air drying of clothes is a time-consuming process and is highly dependent on favorable climatic conditions, consumers residing in colder climates, such as North America and Europe, prefer fast-functioning electric dryers. Apart from this, consumers living in micro-apartments, particularly in populated regions like India and China, are also favoring these dryers due to negligible space available in their home for air drying clothes.
- Electric dryers are commonly equipped with features such as delicate cycle, steam refresh, sanitize cycle and moisture sensors. Due to technological advancements, manufacturers are now introducing efficient electric dryers with clothes-specific options that require different degrees of care while drying. For instance, consumers can now monitor and control their dryers using smartphones.
- Due to rising global population, growing urbanization, declining exhaustible resources and increasing electricity rates, various governments as well as non-governmental organizations are promoting the adoption of energy-efficient appliances. This has enabled consumers to invest in ENERGY STAR certified electric dryers, thereby reducing their overall electricity consumption.
Breakup by Product Type:
- Vented Dryer
- Ventless/Condenser Dryer
Vented dryer currently accounts for the highest share.
Breakup by Distribution Channel:
- Specialty Stores
- Company-Owned Stores
- Hypermarkets and Supermarkets
Breakup by End-User:
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
Region-wise, North America is the biggest market for electric dryers, accounting for the majority of the global share.
The report has also analysed the competitive landscape of the market with some of the key players being Samsung Electronics Co., Ltd., Whirlpool Corporation, Electrolux AB, LG Electronics, Arçelik, Gorenje, Haier Group Corporation, Panasonic Corporation, Smeg Group S.p.A., GE, Asko, Crosslee, Hoovers, Kenmore Appliances, Midea, Miele, Robert Bosch, Robert Bosch GmbH and Sears Holdings (Kenmore).
Key Questions Answered in This Report:
- How has the global electric dryers market performed so far and how will it perform in the coming years?
- What are the key regional markets in the global electric dryers industry?
- What is the breakup of the global electric dryers market on the basis of product type?
- What is the breakup of the global electric dryers market on the basis of distribution channel?
- What is the breakup of the global electric dryers market on the basis of end-user?
- What are the various stages in the value chain of the global electric dryers market?
- What are the key driving factors and challenges in the global electric dryers market?
- What is the structure of the global electric dryers market and who are the key players?
- What is the degree of competition in the global electric dryers market?
- How are electric dryers manufactured?