Allied Market Research published a new report, titled, “Laundry Dryer Market” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.
The global laundry dryer market size was valued at $14.8 billion in 2020, and is projected reach $25.1 billion by 2030, registering a CAGR of 4.0% from 2021 to 2030. Electric segment leads in terms of global market share and is likely to gain high traction in coming years.
The use of laundry dryers is highly prevalent in most of the western countries and developed countries. Many developing countries across the world, however, dry their clothes outside their houses balconies, verandas, and backyards using natural air and sunlight.
However, there is a tremendous rise in pollution lives in such countries and drying clothes outside is harming these clothes by discoloration as well as adhesion of dirt, dust and particulate matter. There is also the threat of small animals and birds soiling these clothes and can sometimes also cause rips and tears in the clothes. To overcome these problems, many consumers are transitioning over to laundry dryers from traditional air drying. The consumers are becoming aware about the various advantages associated with laundry dryers, which is leading to a greater adoption of such types of dryers.
Players are also trying to improve energy consumption of laundry dryers. Use of repurposed materials in the production of laundry dryer is rising, which is leading to reduction in waste. Such initiatives are likely to sway purchasing decision and likely to provide new growth opportunities for the engaged stakeholders in the laundry dryer industry.
The outbreak of the pandemic has created awareness not only for personal health and hygiene, but for the environment as well. Many companies are now taking efforts in order to be environmentally sustainable and reduce their environmental impact as much as possible. The millennial consumer population is especially concerned with environmental sustainability and conservation and gives preference to products that follow the same principles. Engaged stakeholder in the laundry dryer market are taking efforts to make sure that their production processes are environment friendly.
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Based on type, the global market is bifurcated into gas and electric. By capacity the market is segmented into upto 8 kg, 8 kg to 15 kg, and above 15 kg. Based on technology the global market is bifurcated into vented and condensed. By application, the global market is bifurcated into residential and commercial. Based on sales channel the global market is studied across offline channels and online channels. The global laundry dryer market is also studied across North America, Europe, Asia-Pacific, and LAMEA.
Some of the major players profiled for in the laundry dryer market analysis include Alliance Laundry Systems Llc, BOSCH, Electrolux AB, Haier Group Corporation, Havells India Limited, IFB Industries Ltd., LG Electronics Inc., Samsung, Sears Holdings, and Whirlpool Corporation. Other prominent players catering towards laundry dryer market demand are Toshiba, Sharp, Panasonic Corp, Godrej Group, Hitachi Appliances Inc., Candy Group, GD Midea Holding Co. Ltd., and Sharp.
Key Findings Of The Study:
○ Depending on the type, electric laundry dryers lead in terms of laundry dryer market share and is poised to grow with highest growth during the forecast period
○ By technology, the use of vented laundry dryers dominates the global market and is likely to retain its dominance throughout the forecast period.
○ According to the capacity, 8 kg to 15 kg laundry dryers are the most commonly used dryers.
○ By application, laundry dryers are more frequently used for residential applications and thus leads in terms of market share, however the commercial segment is likely to grow with highest CAGR during the forecast period.
○ Offline sales channels are the preferred mode for purchase of laundry dryers, however, online channels are further driving laundry dryer market growth and thus are poised to grow with the highest CAGR during the forecast period.
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