openPR Logo
Press release

Electric Shavers Market is to reach US$17.72 bn by the end of 2024

06-04-2021 12:54 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: TMR

The increasing demand for electric shavers among the female population is one of the key factors driving the electric shavers market at the global level. The female population make a lucrative consumer segment, which manufacturers are eyeing to capitalize on. However, the impact of the driver is low due to the weak penetration of electric shavers especially among female consumers in underdeveloped nations. Nevertheless, the rising preference towards personal care and grooming has fuelled the demand for electric shavers in both men and women. Besides this, the market is gaining from greater shift towards electric shavers from their traditional counterparts due to the increasing demand for greater comfort.

Furthermore, the increasing demand for improved lifestyle, especially among consumers across developed nations will aid the market’s expansion. According to Transparency Market Research (TMR), the global electric shavers market, which stood at US$10.8 bn in 2015, is forecast to reach US$17.72 bn by the end of 2024. If these figures hold true, the global electric shavers market will exhibit a positive CAGR of 5.7% between 2016 and 2024.

Want to know the obstructions to your company’s growth in future? Request a brochure @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=11642

Clippers to Remain Dominant Product Segment

Based on product, the global electric shavers market is segmented into foil shaver, rotary shaver, wet/dry shaver, accessories, and clippers. Both in terms of revenue and volume, the clippers segment dominated the overall market in 2015. According to TMR, clippers accounted for over 71.37% of the overall market based on volume in 2015. The advent of this product has replaced its manual counterpart across many countries. Furthermore, owing to the cheaper price of clippers than other types of shavers, their demand is currently higher than other segments in the market. Besides this, the market also witnesses considerable demand for rotary and foil shavers.

By end use, the global electric shavers market can be broadly classified into male and female. Male users emerged dominant holding over 66.3% of the overall market in 2015. Through the course of the forecast period, male consumers will constitute the dominant segment. However, the rising preference towards personal grooming products is expected to fuel the demand for electric shavers among female consumers as well in the coming years.

According to TMR, the male segment will continue exhibiting steady demand for electric shavers on account of their daily use. Substantial growth is forecast for the female segment as the demand for convenient methods of hair removal scale higher. Moreover, the female users segment is likely to exhibit a higher CAGR during the course of the forecast period.

Asia Pacific to Emerge as Lucrative Market for Electric Shaver Manufacturers

Europe led the global electric shavers market both in terms of revenue and volume due to higher adoption rate of electric shavers. The region constituted over 40% of the global electric shavers market in terms of revenue in 2015. While Europe is prophesized to lose some of its market share to emerging nations in the future, it will continue leading the market through the forecast period. Likewise, North America is predicted to lose its market share in the near future.

Looking for exclusive market insights from business experts? Request a Custom Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=11642

Nevertheless, the pace of gains will continue accelerating for the market. During the same time Asia Pacific is forecast to emerge as the most lucrative regions for electric shaver manufacturers. Rapid urbanization witnessed across emerging nations, coupled with the increasing disposable income and willingness of consumers to spend on personal grooming, will aid the expansion of the Asia Pacific electric shavers market.

The global electric shavers market is marked by intense competition from the major players operating in this market. Tactical mergers and acquisitions, joint ventures and partnerships, and product innovations are some of the key strategies adopted by these players to strengthen their position in the market. Panasonic Corporation, Procter & Gamble Co., Koninklijke Philips N.V. Spectrum Brand Holdings, Wahl Clipper GmbH and Conair Corporation are some of the key players operating in this market.

Read Our Trending Press Release Below: https://www.prnewswire.com/news-releases/focus-on-aesthetics-and-durability-to-drive-demand-within-global-active-smart-and-intelligent-packaging-market-for-cosmetics-and-personal-care-transparency-market-research-301031550.html

About Us

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather, and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact

Transparency Market Research,
90 Sate Street, Suite 700,
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: https://www.transparencymarketresearch.com/

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Electric Shavers Market is to reach US$17.72 bn by the end of 2024 here

News-ID: 2298547 • Views: 122

More Releases from TMR

Wall Decor Market – Top-Companies, Future-Growth, Regional Analysis business-O …
Wall Decor products have become an imperative factor and a part of the lifestyle of an individual. Among the different types of home décor products, wall décor comprises of an imperative part of the overall outlook of the interior of house. In recent times, wall décor products have become a trend among the consumers, especially among the young generation. Over the years, due to the lucrative nature of the
Wire Harness Market Key Players, Size, Trends, Opportunities and growth Analysis
Transparency Market Research delivers key insights on the global wire harness market. In terms of revenue, the global wire harness market is estimated to expand at a CAGR of ~6% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global wire harness market. The global wire harness market is broadly affected by several factors, including rising demand for wire
Industrial Profibus Market – Industry Analysis, Size, Share, Growth, Trend And …
Profibus is one of the new generations of fieldbus I/O bus networks. Profibus is a fieldbus used to connect field devices at the plant level and communicate data between field devices and control systems at the enterprise level. Profibus also helps to attain better yield and higher product quality through the delivery of better and up-to-date data to operations. Profibus uses a multi drop single cable to connect the
Cold Storage Warehouse Market – Top-Companies, Future-Growth, Regional Analysi …
Cold Storage Warehouse Market – Cold storage warehouse is a place where goods at kept at a certain temperature to maintain quality. Cold storage warehouse are used to store perishable items, such as fruits, vegetables, meat, seafood, and dairy products, at a desired temperature to maintain the quality of the product for a long time. Cold storages plays a critical part in the supply chain that ships groceries, medicines, and other temperature-sensitive

All 5 Releases


More Releases for Transparency

Transparency Market Research
A belt drive is a type of power transmission device which is a looped belt wound around a pair of pulley so as to transmit power between two or more rotating shafts. Compared to other power transmitting devices, belt drives are more preferred in mechanical industry due to easy installation, numerous speed ratio selections, less power loss and comparative low price. Belt drive protects the rotating machinery from overload fluctuations
Transparency Market Research
An ultrasonic motor is an electric motor which is driven by the ultrasonic vibration of a component. The stator of the motor is supported by piezoelectric components in ultrasonic frequency range which produces different types of vibrations depending on its arrangement. In other words, ultrasonic motor is a type of electric motor that transforms ultrasonic physical vibrations to linear motion, produced by a piezo-transducer. Ultrasonic motors therefore do not use
Transparency Market Research
The global Li-Fi market is expected to exhibit growth at a robust pace between 2016 and 2023. Massive bandwidth owing to the growing RF spectrum crunch, together with a high degree of security and energy efficiency are expected to bolster the global Li-Fi market. While the features offered by Li-Fi and visible light communications (VLC) are quite similar, unlike the latter, Li-Fi does not require line-of-sight between receiver and transmitter. The
Transparency Market Research
A new research report published by Transparency Market Research states that the global dental bone graft substitutes and other biomaterials market is expected to grow due to the continuous rise in periodontal (gum) diseases along with growing incidence of dental fractures. The report, titled “Dental Bone Graft Substitutes and other Biomaterials Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020”, is available for sale on
eProcurement: Instant Transparency
ifm Achieves Better Prices in Indirect Procurement with JAGGAER solution Vienna | Research Triangle, NC, USA | Essen, August ​09​, 2017 – ifm, the specialist for sensors in automation technology, has said goodbye to manual processing in indirect procurement once and for all. With the eProcurement digital procurement tool from JAGGAER, provider of the world’s most comprehensive Source to Pay (S2P) indirect and direct solution suite, more than 6000 employees
More transparency in Engineering IT
CPO certification helps evaluate openness of IT systems Digitalization is making openness in the linking of IT solutions increasingly important. The Code of PLM Openness (CPO), developed by the ProSTEP iViP Association, supplies a concrete approach for achieving precisely that. Fraunhofer IAO has now developed an effective certification for companies, which helps them comply with the CPO criteria. Industrie 4.0 requires intensified collaboration between various tools and systems. Only when