Feb 14, 2020   SOURCE: PR NewsWire

Electric Dryers Market Set to Reach $10.8 Billion by 2023 - Insights by Type of Dryer, Type of Vent, Distribution Channel, End-user and Geography

DUBLIN, Feb. 14, 2020 /PRNewswire/ -- The "Electric Dryers Global Market Report 2020" report has been added to ResearchAndMarkets.com's offering.

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The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider dryers market, and compares it with other markets.

The global electric dryers market was worth $7.3 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 10.29% and reach $10.8 billion by 2023.

The dryers market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. In 2019, North America was the largest market in electric dryers market.

Technological advances drove the market for dryers in the historic period. Increased access to the internet and use of smartphones supported the development and consumption of innovative technologically enabled appliances. About 4.2 billion people globally had access to the internet in 2018 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 internet and remotely control essential tasks by collecting and exchanging data. This in turn drove the market for dryers in the historic 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 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 GDP growth of 6.2% in 2019. Stable economic growth, increasing internet penetration, and rising disposable income coupled with 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 carbon footprint and enable energy savings for the 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.

Major players in the market are Haier Electronics Group, LG Electronics, SAMSUNG, Robert Bosch, Koninklijke Philips, Whirlpool, Panasonic, Groupe SEB, HAAN, Conair.

Key Topics Covered

1. Executive Summary

2. Electric Dryers Market Characteristics

3. Electric Dryers Market Size And Growth
3.1. Global Dryers Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Dryers Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market

4. Electric Dryers Market Segmentation
4.1. Global Electric Dryers Market, Segmentation By Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    --  Spin Dryers
    --  Condenser Dryers
    --  Heat Pump Dryers
    --  Mechanical Steam Compression Dryers
    --  Solar Clothes Dryer
    --  Other Types

4.2. Global Electric Dryers Market, Segmentation By Type Of Vent, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    --  Vented Dryer
    --  Ventless/Condenser Dryer

4.3. Global Electric Dryers Market, Segmentation By Distribution Channel, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    --  Specialty Stores
    --  Company-Owned Stores
    --  Hypermarkets and Supermarkets
    --  Online
    --  Others

4.4. Global Electric Dryers Market, Segmentation By End User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

    --  Commercial
    --  Residential

5. Electric Dryers Market Regional And Country Analysis
5.1. Global Electric Dryers Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Electric Dryers Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion

Companies Mentioned 

    --  Amana
    --  Asko
    --  Conair
    --  Crosslee
    --  Cuori Electrical Appliances
    --  Electrolux
    --  Fridja
    --  Frigidaire
    --  Gorenje
    --  Groupe SEB
    --  HAAN
    --  Haier Electronics Group
    --  Indesit
    --  Jiffy Steamer
    --  Koninklijke Philips
    --  LG Electronics
    --  Maytag
    --  Midea
    --  Miele
    --  Panasonic
    --  Robert Bosch
    --  Samsung
    --  Sears
    --  Smeg
    --  Whirlpool
    --  Zanussi

For more information about this report visit https://www.researchandmarkets.com/r/r7yglo

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