Electric Dryers Global Market Report 2022

Electric Dryers Global Market Report 2022

  • March 2022 •
  • 250 pages •
  • Report ID: 6248544 •
  • Format: PDF
Major players in the electric dryers manufacturing market are Haier Electronics Group, LG Electronics, SAMSUNG, Robert Bosch, Koninklijke Philips, Whirlpool, Panasonic, Groupe SEB, HAAN, and Conair.

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 growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $14.77 billion in 2026 at a CAGR of 5.4%.

The electric dryers manufacturing market consist of sales of clothes dryers.The clothes dryers are extensively employed by the household consumers for carrying out the activity of drying clothes.

The main function that is performed by the device is to soak up the moisture from the clothes, lessen the aroma level, and eliminate dust mites from the clothes.

The main types of electric dryers manufacturing market are spin dryers, condenser dryers, heat pump dryers, mechanical steam compression dryers, solar clothes dryers, 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 dryer, ventless/condenser dryer.

The distribution channels are specialty stores, company-owned stores, hypermarkets and supermarkets, online, others. The various end-users are commercial, residential.

North America was the largest market in the electric dryers market in 2021. The regions covered in this report are North America, Western Europe, Asia-Pacific, Eastern Europe, South America, Middle East, and Africa.

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 the developed markets in the forecast period. For instance, China is forecast to register a GDP growth of 6.2% in 2019. 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, UK, and USA.