The global electric clothes dryer market size was valued at USD 14.8 billion in 2021. The market is anticipated to expand to USD 25.1 billion in 2028, recording a CAGR of 4.0% in the forecast period.
Electric cloth dryers are machines that remove moisture from textiles once they are washed facilitating rapid drying. The popularity of cloth drying machines in developing countries is fueling the growth of the market expansion. The advent of incredibly robust heat pump dryer technology has transformed the market for electric clothes dryers.
One of the main factors contributing to the market development is the unique features of electric dryers, comprising the use of smartphones to control appliances, and wrinkle-reduction technologies. Companies are spending money on research and technology to create an electric dryer system that uses swirling after a cycle to avoid creases in fabrics. The market will continue to develop over the next four years as a result of additional reasons, such as the rising emphasis on upgrading heat pump dryers as they consume less energy.
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Based on the end user, the global electric clothes dryer is bifurcated into commercial and residential. The residential segment is anticipated to dominate the market share due to the increasing penetration and popularity of small-sized laundry devices in household settings. Furthermore, household users choose to use electric fabric dryers to finish washing chores throughout the cold and rainy seasons which further bolsters the market growth.
Additionally, due to the growing economic adversities, consumers are increasingly relying on purchasing eco-friendly products. With the advent of technologies, the various electric clothes dryers which are available in the market now come with attractive features such as eco-friendly, smart control, sensor technology, and steam sanitizing ability to eradicate germs. For instance, in 2023, Samsung launched Samsung Smart Dial electric dryer with Super Speed Dry which can eliminate 99.9% of bacteria and germs, features smart control, recommends a drying cycle, and much more.
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The desire for smarter gadgets is driving the expansion of the global market for electric clothes dryers. The development of the electric clothes dryer market is mostly due to technical advancement. To save crucial time, people choose energy-efficient equipment for their entire home. A large client base is targeted by the new developments, which include LED interfaces, humidity sensors, noise emissions, and others. For instance, LG introduced a dual inverter heat pump dryer with Smart ThinQ capabilities in October 2021. It is offered in both physical and online locations.
The expansion of the worldwide electric clothes dryer market is projected to be anticipated by the increasing number of working professionals who are looking for energy-efficient dryers to lower their use of electricity. Furthermore, their hectic lifestyle is driving demand for the global electric clothes dryer market. The demand for electric clothes dryers is being driven by the adoption of domestic energy-efficient equipment.
KEY INDUSTRY PLAYERS
- Whirlpool
- BSH Home Appliances Group
- Electrolux
- Haier
- Midea America Corp.
- Euromaid
- Frigidaire Home Products
- LG Electronics
- SAMSUNG
- Indesit
- Miele
- Zanussi
- Voltas.Beko
Key Development
- In October 2021, LG introduced a dryer featuring a dual inverter heat pump and Smart ThinQ features. It is offered in both physical and online locations.
REGIONAL INSIGHTS
North America region is anticipated to dominate the global electric clothes dryer market due to the increasing preference for smart homes. Additionally, the increasing consumer preference for high-tech domestic products is anticipated to expand market growth further. A study by Smart Home Technology Use, Satisfaction, and Buy Intent 2020 predicted that over 80 million households would purchase a new smart home device in the coming year. According to the survey, 64% of the 606 American decision-makers desire to buy new smart technologies.
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However, the Europe region is predicted to witness the highest market growth of the global electric clothes dryer market in the projection period owing to the increasing consumer demand for novel, innovative technology-based consumer appliances.
In Germany, the United Kingdom, and France, expanding major companies’ supply chains and manufacturing capacity is principally providing lucrative opportunities for them in operations related to product diversification, which is driving skyrocketing dryer sales growth in Europe. According to Cross-Border Trade Europe, by the year 2020, European online marketplaces will have significantly increased visitor interaction, which will lead to transactions. In total, Europeans spent USD 165.8 billion on cross-border e-commerce.
TABLE OF CONTENTS
Chapter 1. Executive Summary
Chapter 2. Research Methodology
Chapter 3. Market Outlook
Chapter 4. COVID-19 Impact On Electric Clothes Dryer Market
Chapter 5. Global Electric Clothes Dryer Market Overview, By Type, 2015 – 2028(USD Million)
Chapter 6. Global Electric Clothes Dryer Market Overview, By Dryer Type, 2015 – 2028(USD Million)
Chapter 7. Global Electric Clothes Dryer Market Overview, By End User, 2015 – 2028(USD Million)
Chapter 8. Global Electric Clothes Dryer Market Overview, By Distribution Channel, 2015 – 2028(USD Million)
Chapter 9. Global Electric Clothes Dryer Market Overview, By Geography, 2015 – 2028(USD Million)
Chapter 10. North America Electric Clothes Dryer Market Overview, By Countries, 2015 – 2028(USD Million)
…Continued
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