Electric Dryers Market Value is Projected to Exceed US$ 13.4 Billion by 2024 and CAGR 4%

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Report Description and Highlights

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Electric Dryers Market Report By Product Type (Vented Dryer and Ventless/Condenser Dryer), EndUser (Commercial and Residential), Distribution Channel, Region Electric dryers are home appliances which help in drying clothes by removing moisture from them.

These dryers offer many advantages such as convenience, easy installation, and cost-effectiveness. Over the past few years, electric dryers have gained popularity across the globe due to the hectic lifestyles of the working population and their elevating incomes.

Market Overview: According to the latest report by IMARC Group titled, “Electric Dryers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024�, the market reached a value of US$ 10.7 Billion 2018. Looking forward, the market is expected to reach a value of US$ 13.4 Billion by 2024, exhibiting a CAGR of around 4% during 2019-2024. With rapid urbanization, particularly in populated regions like India and China, consumers have started living in smaller apartments. The shortage of space within the apartments for air drying clothes has further contributed to an increased demand for electric dryers. Also, electric dryers offer advanced features such as LED interfaces, and temperature and moisture sensing control. Owing to this, consumers residing in colder climates, are shifting from air dryers to electric dryers. These dryers also help in saving energy, reducing wear and tear on clothes and even enabling consumers to monitor and control their dryers using smartphones.

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Moreover, a large number of consumers are investing in ENERGY STAR certified electric dryers as various governments as well as non-governmental organizations are promoting the use of energyefficient appliances to reduce overall electricity consumption.

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.

Market Forecast

Sample Figure: Global: Electric Dryers Market Forecast: Sales Value (in Billion US$), 2019-2024

184.3

191.7

199.3

207.3

2019

2020

2021

2022

215.6

224.2

2023

2024

Market Segmentation

Report Description

Electric Dryers Market Segmentation: Market Segmentation by Product Type o Vented Dryer o Ventless/Condenser Dryer On the basis of products, the market has been segmented as vented dryer and ventless/condenser dryer.

Market Segmentation by Distribution Channel • • • • •

Specialty Stores Company Owned Stores Hypermarkets and Supermarkets Online Others

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Report DescriptionMarket Segmentation Based on distribution channel, the market has been segregated as specialty stores, company owned stores, hypermarkets and supermarkets, online and others.

Market Segmentation by Region • • • • •

North America Europe Asia Pacific Latin America Middle East and Africa

Region-wise, North America is the biggest market for electric dryers, accounting for the majority of the global share.

Market Segmentation by End-User • •

Commercial Residential

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Regional Segmentation

North America

Europ e

Asia- Pacific

Latin America

Middle East and Africa

Market Segmentation

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On the basis of end-user, the market has been segmented as commercial and residential.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

• • • • • • • • • • • • • •

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

Market Segmentation

Report Description • • • • •

Midea Miele Robert Bosch Robert Bosch GmbH Sears Holdings (Kenmore)

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Report Description and Highlights

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