(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Feb. 26, 2024 (GLOBE NEWSWIRE) -- The "Electric Dryers Market Report by Product Type (Vented Dryer, Ventless/Condenser Dryer), Distribution Channel (Specialty Stores, Company-Owned Stores, Hypermarkets and Supermarkets, Online, and Others), End-User (Commercial, Residential), and Region 2024-2032" report has been added to ResearchAndMarkets's offering.
The global electric dryers market size reached US$ 13.4 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 19.9 Billion by 2032, exhibiting a growth rate (CAGR) of 4.5% during 2023-2032.
An electric dryer refers to a home appliance which is utilized to remove moisture from clothes, beddings and other textile products. It functions with the help of a rotating drum or tumbler that holds the clothes, an electrically powered heater that heats the air inside the tumbler, and an exhaust vent that passes out water in the form of steam. Electric dryers are rapidly replacing gas dryers which emit carbon dioxide in the atmosphere. Moreover, electric dryers have become a necessity in majority of the households owing to altering lifestyles, extended working hours and elevating per capita incomes.
Global Electric Dryers Market Drivers:
As air drying of clothes is a time-consuming process and is highly dependent on favorable climatic conditions, consumers residing in colder climates, such as North America and Europe, prefer fast-functioning electric dryers. Apart from this, consumers living in micro-apartments, particularly in populated regions like India and China, are also favoring these dryers due to negligible space available in their home for air drying clothes.
Electric dryers are commonly equipped with features such as delicate cycle, steam refresh, sanitize cycle and moisture sensors. Due to technological advancements, manufacturers are now introducing efficient electric dryers with clothes-specific options that require different degrees of care while drying. For instance, consumers can now monitor and control their dryers using smartphones.
Due to rising global population, growing urbanization, declining exhaustible resources and increasing electricity rates, various governments as well as non-governmental organizations are promoting the adoption of energy-efficient appliances. This has enabled consumers to invest in ENERGY STAR certified electric dryers, thereby reducing their overall electricity consumption.
Key Market Segmentation:
The report provides an analysis of the key trends in each sub-segment of the global electric dryers market report, along with forecasts at the global and regional level from 2023-2032. Our report has categorized the market based on product type, distribution channel and end-user.
Breakup by Product Type:
Vented Dryer Ventless/Condenser Dryer
Vented dryer currently accounts for the highest share.
Breakup by Distribution Channel:
Specialty Stores Company-Owned Stores Hypermarkets and Supermarkets Online Others
Breakup by End-User:
Regional Insights:
North America Europe Asia Pacific Middle East and Africa Latin America
Region-wise, North America is the biggest market for electric dryers, accounting for the majority of the global share.
Companies Mentioned
Samsung Electronics Co. Ltd. Whirlpool Corporation Electrolux AB LG Electronics Arcelik Gorenje Haier Group Corporation Panasonic Corporation Smeg Group S.p.A. GE Asko Crosslee Hoovers Kenmore Appliances Midea Miele Robert Bosch GmbH and Sears Holdings (Kenmore)
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