Market Research Report
Electric Dryers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024
|Published by||IMARC Services Private Limited||Product code||821302|
|Published||Content info||120 Pages
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|Electric Dryers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024|
|Published: April 8, 2019||Content info: 120 Pages||
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.
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.
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, Arcelik, 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).