Overview of the global laundry drying cabinets market
Vendors and brands are trying to maintain high brand associations with customers by focusing on innovations in design, which in turn, helps them to create product differentiation and value proposition for potential and prospective customers. They are strengthening their product mix by introducing high-priced variants of laundry drying cabinets. This will result in an increasing purchase volume of laundry drying cabinets. Technavio’s market research report identifies the technological innovation and product extension leading to product premiumization to be one of the primary growth drivers for the global laundry drying cabinets market till 2022. According to laundry drying cabinets market forecast, our market research analysts predict that the market will grow at a CAGR of close to 6% by 2022.
Based on the aundry drying cabinets market analysis, the Americas contributed the majority of share toward the laundry drying cabinets market during 2017 due to the growing disposable income and steady economic growth in the region. The growing demand for laundry drying cabinets from a dual-income household with reduced time for housekeeping and laundry will further boost the market’s growth in the region throughout the estimated period.
Companies covered
The laundry drying cabinets market appears to be concentrated due to the presence of few vendors. This industry research report offers information about the competitive environment among players in this marketspace and offers an analysis of key companies and their products. Additionally, our analysts also offer information about key areas the players of the laundry room drying cabinets market currently focus on and strategies they follow to sustain the competition.
This research report provides an analysis of various companies in the market including
- Alliance Laundry Systems
- Electrolux
- Gorenje
- PODAB
- Whirlpool Corporation
Segmentation by technology and analysis of the global laundry drying cabinets market
- Vented pump drying cabinets
- Heat pump drying cabinets
The vented pump drying cabinets will lead the laundry drying cabinets market in the forthcoming years as these drying cabinets are priced lower in comparison to heat pump drying cabinets and the presence of many vendors offering this type of drying cabinets in the region.
Segmentation by end-user and analysis of the global laundry drying cabinets market
- Commercial laundry drying cabinets
- Residential laundry drying cabinets
- Industrial laundry drying cabinets
The commercial laundry drying cabinets segment accounted for the majority market share of the laundry room drying cabinets market during 2017 as they come with a big capcacity and are extensively used in hotels and resorts, hospitals, fire departments, laboratories, and various induistries such as construction and oil and gas. This factor will boost the laundry drying cabinets market valule in the forthcoming years.
Key questions answered in the report include
- What will the market size and the growth rate be in 2022?
- What are the key factors driving the global laundry drying cabinets market?
- What are the key market trends impacting the growth of the global laundry drying cabinets market?
- What are the challenges to market growth?
- Who are the key vendors in the global laundry drying cabinets market?
- What are the market opportunities and threats faced by the vendors in the global laundry drying cabinets market?
- What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
- What are the key outcomes of the five forces analysis of the global laundry drying cabinets market?
Technavio also offers customization on reports based on specific client requirement.