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Dryers Global Market Report 2021: COVID 19 Impact and Recovery to 2030

Dryers Global Market Report 2021: COVID 19 Impact and Recovery to 2030

  • May 2021
  • 175 pages
  • ID: 6071967
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

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

The global dryers market is expected to grow from $12.05 billion in 2020 to $12.45 billion in 2021 at a compound annual growth rate (CAGR) of 3.3%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $13.7 billion in 2025 at a CAGR of 2%.

The dryers manufacturing market consist of sales of clothes dryers.The clothes dryers are extensively employed by the household consumers for carrying out the activity of drying clothes.

The main function that is performed by the device is to soak up the moisture from the clothes, lessen the aroma level, and eliminate dust-mites from the clothes.

Technological advances is expected to drive the growth of the market for dryers in the forecast period.Increased access to the internet and use of smartphones supported the development and consumption of innovative technologically enabled appliances.

About 4.66 billion people globally had access to the internet in 2020 and 91% 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 drives the market for dryers.

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.

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.

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.

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