Electric Dryers Market Global Report 2020 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global Electric Dryers market. This Research Report Forecast 2020-2023 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data.
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.
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Scope: 1) By Type: Spin Dryers; Condenser Dryers; Heat Pump Dryers; Mechanical Steam Compression Dryers; Solar Clothes Dryer; Other Types 2) By Type Of Vent: Vented Dryer; Ventless/Condenser Dryer 3) By Distribution Channel: Specialty Stores; Company-Owned Stores; Hypermarkets and Supermarkets; Online; Others 4) By End User: Commercial; Residential
Companies Mentioned: Haier Electronics Group; LG Electronics; SAMSUNG; Robert Bosch; Koninklijke Philips
Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Browse the report description and TOC:
The dryers market covered in this report is segmented by type into spin dryers, condenser dryers, heat pump dryers, mechanical steam compression dryers, solar clothes dryer, and other types. The dryers market in this report is segmented by type of vent into vented dryer, and ventless/condenser dryer. The dryers market in this report is segmented by type of distribution channel into specialty stores, company-owned stores, hypermarkets and supermarkets, online, and others. The dryers market covered in this report is segmented by end user into commercial, and residential.
-An extensive analysis of the Electric Dryers market trends and shares from 2017 to 2023 to identify market opportunities and analyze industry developments
-Comprehensive analysis with respect to investments and price trends that impact the outlook of the Global Electric Dryers market between 2020 and 2023
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.
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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.
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A list of key factors responsible for building the upcoming opportunistic roadmap for the Electric Dryers market at the Global, regional, and country level.
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