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

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

  • May 2021
  • 175 pages
  • ID: 6071970
  • Format: PDF
  • The Business Research Company

Summary

Table of Contents

Major players in the ironers market are GE, Hamilton Beach, Joy Mangano, Kenmore, Electrolux, Haier, Flyco, LG, Applica and Black and Decker.

The global ironers market is expected to grow from $1.22 billion in 2020 to $1.31 billion in 2021 at a compound annual growth rate (CAGR) of 7.4%.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 $1.72 billion in 2025 at a CAGR of 7%.

The electric ironers manufacturing market consists of sales of electric ironers. An Ironer is a tool for levelling clothes and fabrics, and uses power within a range of 300-1000W.

Rapid Urbanization is expected to contribute to the growth of the ironers market in the forecast period.Globally, the percentage of population living in urban areas is expected to increase from 55% in 2018 and reach 68% by 2050.

The growth in the urban population coupled with the increasing demand among the millennials to look well-dressed, rise in disposable incomes, and increasing affordability among residents of cities will drive the demand for ironers.

Increasing demand for online on demand laundry services is expected to restrain the market for ironers 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 ironers.

The ironers market covered in this report is segmented by product type into dry iron, steam iron, and garment steamer.The ironers market in this report is segmented by function into automatic, and non-automatic.

The ironers market in this report is segmented by distribution channel into offline, and online. The ironers market in this report is segmented by application into residential, and commercial.

There has been a growing popularity of smart home ironers in the market.Smart home ironers are devices which are connected to other devices via the internet, and other technologies such as Bluetooth, near field communication (NFC) and Wi-Fi.

The increased popularity of smart appliances can be attributed to the increased demand for smart homes, the rise in internet and smartphone penetration, and energy efficiency initiatives.The rise of the Internet of Things (IoT) technology also supports the development of smart appliances.

For instance, smart ironers contain an accelerometer chip installed in them which automatically switches off the iron by detecting the idle state. Bluetooth enabled ironers can provide the users with the status of the iron such as temperature, power usage etc. on their mobile phone and other Bluetooth enabled devices.

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