Electric Clothes Dryer Market | Contrive Datum Insights

The Global Electric Clothes Dryer Market Size Was Valued At USD 13.1 Billion In 2021. The Market Is Expected To Grow By USD 19.3 Billion By 2030, At A CAGR Of 6%.

Electric Clothes Dryer Market Overview:

Clothes dryers have become popular in developing countries and are widely used in developing countries. An electric dryer is a machine that can dry quickly by removing moisture from fabrics after washing. This unit sits next to the washing machine so you can quickly transfer clothes from washer to dryer. The tumbler in these dryers can be heated by electricity or gas to dry clothes quickly. Condensing dryers suck moisture from clothing and collect it at the bottom of the machine for later disposal, while ventilated dryers draw in atmospheric air and heat it to dry clothing. Household washing and drying machines account for a significant portion of the world market, but companies such as hotels and hospitals also use washing and drying machines extensively.

Electric Clothes Dryer market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Electric Clothes Dryer market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.

Key Market Updates:

• In October 2021 - LG released a dual inverter heat pump dryer with Smart ThinQ feature. Available in both online and offline stores.

Major Market Segments Covered in Electric Clothes Dryer Industry Research:

Market Key Players:
Amana, Maytag, Frigidaire, Bosch, LG, Electrolux, Indesit, Kenmore, Haier, Samsung, Beko, Miele, Siemens, Zanussi, Hoover, And Others.

By Type:

• Vented Electric Clothes Dryer, Non- Vented Electric Clothes Dryer

Based on product type segment, vented electric clothes dryer segment dominated the electric clothes dryer market in 2016. The electric clothes dryer segment is likely to register a CAGR of around 6.1% during the forecast period.

By Application:

• Residential, Commercial

Based upon the application, the home segment is expected to register a high CAGR during the period, as compared to commercial segment.

By Region:

The North America region is expected to dominate the forecast period owing to rising consumer preference for smart homes. Moreover, rising consumer preference for high-end home products is expected to further boost the product consumption rate. For example, according to Smart Home Technology According to a report by Usage, Satisfaction and Purchase Intent 2020, the number of households eager to purchase new smart home devices exceeds 80 million within a year. According to the survey, about 64% of respondents said that 606 U.S. decision makers plan to purchase new smart technologies .

Increase in the number of high-income individuals further drives the market growth. For example, the total number of people with income, regardless of work experience, increased by about 2.2 million between 2018 and 2019, according to the U.S. Census Bureau. Nowadays, due to severe cold weather conditions, people prefer dryers based on advanced technology for their laundry activities. This factor is supporting the demand for the product from the North American population.

Europe is also expected to witness substantial growth over the forecast period 2021 to 2028 owing to increasing consumer demand for advanced technology-based appliances. Growing supply chain channels and production capabilities of prominent companies in Germany, the UK, and France primarily create lucrative opportunities for them in product diversification-related activities, thereby driving dryer sales growth in Europe. According to Cross-Border Commerce Europe, in 2020, online marketplaces in Europe attracted huge consumer traffic and witnessed better visitor engagement, which translated into sales. Cross-border e-commerce spending by Europeans hit $165.8 billion.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Significant Market Dynamics:

Market Drivers

• High Demand for Energy Efficient Electric Dryers
• Increased Adoption Due to Online Availability

Market Trend

• Manufacturers are focusing on introducing more efficient electric dryers to meet the growing demand for energy efficient appliances with features such as drying speed, energy efficiency and noise emission. Additionally, increasing emphasis on improving heat pump dryers that use less energy will help the market develop in the coming years.

Restraints

• High Power Consumption of Electric Clothes Dryers

Opportunities

• High demand due to appliance control and wrinkle improvement technology via smartphone

Challenges

• High initial investment costs associated with electric clothes dryers

Electric Clothes Dryer Market report scope:

Crucial Points from this Electric Clothes Dryer Report

• Estimate Electric Clothes Dryer market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
• Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
• Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
• Get a quick viewpoint on the Electric Clothes Dryer market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
• Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
• Get complete insights on your competitor's performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT, and more.
• Study the sales and distribution channels over key geographies to improve top-line revenues.

Frequently Asked Questions-

What is the CAGR of Electric Clothes Dryer market?

The Electric Clothes Dryer Market is growing at a CAGR of 6% During Forecast Period.

 What are the key types of Electric Clothes Dryer market?

Vented Electric Clothes Dryer, Non- Vented Electric Clothes Dryer

What are the key applications of Electric Clothes Dryer market?

Residential, Commercial                                                           

Who are the key players in Electric Clothes Dryer market?

Amana, Maytag, Frigidaire, Bosch, LG, Electrolux, Indesit, Kenmore, Haier, Samsung, Beko, Miele, Siemens, Zanussi, Hoover, And others.