The household clothes steamers and dryers market share is expected to increase by USD 1.03 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 9.64%.
This household clothes steamers and dryers market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers household clothes steamers and dryers market segmentations by product (clothes dryers and clothes steamers), distribution channel (offline and online), and geography (North America, Europe, APAC, MEA, and South America). The household clothes steamers and dryers market report also offers information on several market vendors, including Conair Corp., Electrolux AB, Haier Smart Home Co. Ltd., IFB Industries Ltd., Koninklijke Philips NV, LG Electronics Inc., Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., and Whirlpool Corp. among others.
What will the Household Clothes Steamers And Dryers Market Size be During the Forecast Period?
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Household Clothes Steamers And Dryers Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The product innovation leading to product premiumization is notably driving the household clothes steamers and dryers market growth, although factors such as fluctuations in raw material costs may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the household clothes steamers and dryers industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Household Clothes Steamers And Dryers Market Driver
The product innovation leading to product premiumization is a major factor driving the global household clothes steamers and dryers market share growth. In the global household clothes steamers and dryers market, clothes dryers generally fall under the premium category. One of the latest technologies in home appliances is smart connectivity. Samsung Electronics, LG Electronics, and Whirlpool are some of the vendors that offer such smart connected clothes dryers to customers. Similarly, in clothes steamers, vendors are providing new innovations in products, which increases the price. The improvement in living standards and the increasing expenditure on products with the latest technology propel the demand for new innovated products. The innovative features in clothes steamers and dryers will drive the growth of the global household clothes steamers and dryers market during the forecast period. With the use of advanced technology, vendors can extend their product lines and develop premium products.
Key Household Clothes Steamers And Dryers Market Trend
The rising focus on energy efficiency of clothes dryers is another factor supporting the global household steamers and dryers market share growth. Clothes dryers are used as common household appliances across regions such as the Americas and Europe. For instance, in the Americas, more than 75% of households have dryers. These dryers are one of the highest energy users. Therefore, the US Environmental Protection Agency (EPA) has pushed manufacturers to produce energy-efficient clothes dryers that can save energy. Such energy-efficient clothes dryers should be certified with the ENERGY STAR label that denotes the energy efficiency of the product. The awareness of using energy-efficient appliances such as washing machines, kitchen appliances, and clothes dryers are growing. Regulatory bodies revise the energy standards regularly due to the rising cost of electricity, and this leads companies to continuously innovate the energy efficiency of the appliances to meet the revised standards. This may help in creating new and replacement demand for such energy-efficient products, which could further help in propelling the market growth over the coming five years.
Key Household Clothes Steamers And Dryers Market Challenge
The fluctuations in raw material costs will be a major challenge for the global household steamers and dryers market share growth during the forecast period. The fluctuations in profit margins of manufacturers of home appliances are due to the increasing prices of raw materials and intense competition among vendors. This requires the execution of a proper pricing strategy to challenge other vendors. The core raw material used in the production of clothes dryers is metal. The increase in the price of metal has a directly proportional impact on the prices of home appliances, including clothes dryers. This leads vendors to raise the prices of their products. This cycle of inclining costs impacts the pricing strategy of the players. Fluctuations in the prices of raw materials used for producing home appliances have a negative impact on the cash flow of the players. This further affects the profit margins of the vendors negatively. This is a challenge for the growth of the vendors in the global household clothes steamers and dryers market. Reduction of profit margins leads to reduced spending on marketing campaigns and other activities, thereby hampering the growth of the market.
This household clothes steamers and dryers market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global household clothes steamers and dryers market as a part of the global household appliances market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the household clothes steamers and dryers market during the forecast period.
Who are the Major Household Clothes Steamers And Dryers Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Conair Corp.
- Electrolux AB
- Haier Smart Home Co. Ltd.
- IFB Industries Ltd.
- Koninklijke Philips NV
- LG Electronics Inc.
- Panasonic Corp.
- Robert Bosch GmbH
- Samsung Electronics Co. Ltd.
- Whirlpool Corp.
This statistical study of the household clothes steamers and dryers market encompasses successful business strategies deployed by the key vendors. The household clothes steamers and dryers market is fragmented and the vendors are deploying growth strategies such as coming up with smart connected home appliances including clothes dryers to compete in the market.
Product Insights and News
- Conair Corp.- The company offers household clothes streamers and dryers that steams away wrinkles with its smooth move and are compact for travel and home, lightweight and safe to use on light and heavy fabrics, under the brand names of COMPLETESTEAM and TURBO EXTREMESTEAM.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The household clothes steamers and dryers market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Household Clothes Steamers And Dryers Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the household clothes steamers and dryers market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global household appliances market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service
- Support activities
- Innovation
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Household Clothes Steamers And Dryers Market?
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41% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for household clothes steamers and dryers market in North America. Market growth in this region will be slower than the growth of the market in all other regions.
The rising awareness about saving electricity bills will facilitate the household clothes steamers and dryers market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
What are the Revenue-generating Product Segments in the Household Clothes Steamers And Dryers Market?
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The household clothes steamers and dryers market share growth by the clothes dryers segment will be significant during the forecast period. Clothes dryers are home appliances that help in removing moisture from clothes. Such clothes dryers are largely used in cold regions where drying clothes naturally is less feasible.
This report provides an accurate prediction of the contribution of all the segments to the growth of the household clothes steamers and dryers market size and actionable market insights on post COVID-19 impact on each segment.
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Household Clothes Steamers And Dryers Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.64% |
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Market growth 2021-2025 |
$ 1.03 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
8.82 |
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Regional analysis |
North America, Europe, APAC, MEA, and South America |
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Performing market contribution |
North America at 41% |
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Key consumer countries |
US, Germany, China, France, and Canada |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Conair Corp., Electrolux AB, Haier Smart Home Co. Ltd., IFB Industries Ltd., Koninklijke Philips NV, LG Electronics Inc., Panasonic Corp., Robert Bosch GmbH, Samsung Electronics Co. Ltd., and Whirlpool Corp. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Household Clothes Steamers And Dryers Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive household clothes steamers and dryers market growth during the next five years
- Precise estimation of the household clothes steamers and dryers market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the household clothes steamers and dryers industry across North America, Europe, APAC, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of household clothes steamers and dryers market vendors
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