NEW YORK, Feb. 23, 2023 /PRNewswire/ --
Major players in the electric dryer manufacturing market are Haier Electronics Group, LG Electronics, SAMSUNG, Robert Bosch, Koninklijke Philips, Whirlpool, Panasonic, Groupe SEB, HAAN, and Conair.
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The global electric dryers market is expected to grow from $11.15 billion in 2021 to $11.96 billion in 2022 at a compound annual growth rate (CAGR) of 7.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The market is expected to reach $14.77 billion in 2026 at a CAGR of 5.4%.
The electric dryers manufacturing market consists of sales of spin dryers, condenser dryers, heat pump dryers, mechanical steam compression dryers, solar clothes dryers, and other types.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
An electric dryer is a dryer that dries clothes using electric heat. The blower and drum motors inside the dryer are also powered by electricity and the voltage used by electric dryers is 240 volts.
North America was the largest market in the electric dryers market in 2021. The regions covered in the electric dryers manufacturing market report are North America, Western Europe, Asia-Pacific, Eastern Europe, South America, the Middle East, and Africa.
The main types of electric dryers manufacturing market are spin dryers, condenser dryers, heat pump dryers, mechanical steam compression dryers, solar clothes dryers, and other types.A spin dryer is a device that extracts water from clothes, linen, etc, by spinning them in a perforated drum The types of vents are vented dryers and ventless/condenser dryers.
The distribution channels are specialty stores, company-owned stores, hypermarkets and supermarkets, online, and others. The various end-users are commercial and residential.
Technological advances will drive the market for dryers in the forecast period.Increased access to the internet and the use of smartphones supported the development and consumption of innovative technologically enabled appliances.
More than 330 million people use the internet, taking the total number of global internet users to 4.72 billion by April 2021 and 48.2% of internet users accessed the web from a mobile device. Furthermore, increasing integration of the Internet of Things (IoT) allowed customers to connect with the dryers via the internet and remotely control essential tasks by collecting and exchanging data. This in turn drives the market for dryers in the forecast period.
Increasing demand for online on-demand laundry services is expected to restrain the market for dryers in the forecast period.The on-demand laundry services market is expected to be aided by a stable economic growth forecast in many developed and developing countries.
The International Monetary Fund (IMF) predicts that the global real GDP growth will be 3.7% over 2019 and 2020 and 3.6% from 2021 to 2023. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. For instance, according to the World Bank, a US-based international financial institution, the growth of GDP in China amounted to approximately 8.1 percent in 2021. Stable economic growth, increasing internet penetration, and rising disposable income coupled with the hectic lifestyle of individuals will lead to an increase in on-demand laundry services, thereby limiting the growth of the market for dryers.
Dryer manufacturers are increasingly producing energy-efficient products to reduce their carbon footprint and enable energy savings for consumers.The rise of energy-efficient appliances can be attributed to the stringent government regulations on electric home appliances and advances in technology.
Energy-efficient appliances are designed to utilize minimum energy to complete the required task.Currently, over 80 countries have standards and labels for energy-efficient appliances.
For example, in the USA, ENERGY STAR-certified dryers use 20% less energy than a standard washing machine.
The countries covered in the electric dryers manufacturing market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The electric dryers manufacturing market research report is one of a series of new reports that provides electric dryers manufacturing market statistics, including electric dryers manufacturing industry global market size, regional shares, competitors with an electric dryer manufacturing market share, detailed electric dryers manufacturing market segments, market trends and opportunities, and any further data you may need to thrive in the electric dryers manufacturing industry. This electric dryers manufacturing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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