Global electric dryers market forecast

Technavio’s market analysts predict that the global electric dryers market will grow progressively and post a CAGR of approximately 4% by 2020. One of the major factors driving the electric dryers market growth will be the growing need for energy efficient electric dryers among consumers. Consumers in the market will opt for energy efficient dryers to reduce the consumption of electricity and save money on utility bills. As electric dryers consume a significant amount of electricity, the vendors are increasingly focusing on technical developments to produce ENERGY STAR certified electric dryers, which will help consumers make the right choice while making a purchase. Also, the majority of players are focusing on introducing more efficient electric dryers to cater to the augmented demand for energy-efficient appliances. Moreover, factors such as the increasing emphasis on improving heat pump dryers as they use less energy will also help in the evolution of the market over the next four years.

One of the significant electric dryers market trends observed in the market is the introduction of innovative features in electric dryers, such as the use of smartphones to control appliances and wrinkle reduction technology. The use of smartphones will allow consumers to diagnose problems and communicate with the manufacturer conveniently through text alerts. The vendors will be investing in technology and innovation to come up with a mechanism within electric dryers that implements tumbling after a cycle to prevent clothes from wrinkling.

Competitive landscape and key vendors

The market appears to be highly competitive, and few major players control the level of competition. The businesses will invest in the innovation of technology and products to provide unique features, quality, and price to maintain themselves in the market. Also, increasing collaborations between players and the adoption of marketing techniques to distinguish their product and service offerings will be a few practices used by businesses to survive in the market during the forecast period.

Key vendors in the market are 

• Electrolux
• GE
• Whirlpool
• LG
• Samsung

Other prominent vendors in the market are Arçelik, Asko, Crosslee, Gorenje, Haier, Hoovers, Kenmore Appliances, Midea, Miele, Panasonic, Robert Bosch, and Smeg.

Segmentation based on distribution channel and analysis of the electric dryers market

• Speciality retailers
• Hypermarkets, supermarkets, and departmental stores
• Others (discount stores, general merchandisers, and online)

Based on the electric dryers industry statistics, the specialized store's segment dominated the market accounting for approximately 60% of the total market share. The major factor contributing to the growth of this sector will be the availability of a large variety of brands, extensive product portfolios, and the sale of similar types of goods across all outlets.

Segmentation based on geography and analysis of the electric dryers market

• APAC
• Europe
• North America
• ROW

The market research analysts at Technavio predict that North America will dominate the market by 2020, accounting for around 45% of the total market share. The introduction of different technological innovations such as the Super-Efficient Dryer Initiative (SEDI) and heat pump dryers will help North America to maintain their market shares during the estimated period. Also, the manufacturers will make capital investments to introduce products with ENERGY STAR labels, and Wi-Fi enabled dryers, leading to the market’s growth in this region during the forecast period.

Key questions answered in the report include

• What will the electric dryers market size and the growth rate be in 2020?
• What are the key factors driving the global electric dryers market?
• What are the key electric dryers market trends impacting the growth of the market?
• What are the challenges to market growth?
• Who are the key vendors in the global electric dryers market?
• What are the market opportunities and threats faced by the vendors in the global electric dryers market?
• Trending factors influencing the market shares of the APAC, Europe, North America, and ROW.
• What are the key outcomes of the five forces analysis of the global electric dryers market?

Technavio also offers customization on reports based on specific client requirement.

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