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Global Electric Blankets Market 2024 - By Size, Drivers, Trends, Competitors And Forecast To 2033
Global Electric Blankets Market
Electric Blankets Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $1.56 billion In 2028 At A CAGR Of 5.87% :
The electric blankets market size has grown strongly in recent years. It will grow from $1.16 billion in 2023 to $1.24 billion in 2024 at a compound annual growth rate (CAGR) of 6.82%. The growth in the historic period can be attributed to increased comfort and convenience, increased affordability and accessibility, increased consumer lifestyle changes.
The electric blankets market size is expected to see strong growth in the next few years. It will grow to $1.56 billion in 2028 at a compound annual growth rate (CAGR) of 5.87%. The growth in the forecast period can be attributed to increasing health consciousness, aging population, increasing consumer demand for luxury and comfort in hotels and resorts, increasing customization and personalization. Major trends in the forecast period include integration of advanced safety features, growing popularity of heated mattress pads, expansion of product offerings with customizable heat settings, adoption of smart technology for remote control, integration of therapeutic features, collaboration with home automation systems, adoption of sustainable manufacturing practices.
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Electric Blankets Market Major Segments
The electric blankets market covered in this report is segmented -
1) By Type: Over Blankets, Under Blankets, Electric Pads
2) By Material: Wool, Cotton, Polyester, Acrylic, Other Material
3) By Price Range: Economy, Mid-range, Premium
4) By Size: Single Size, Full Or Queen Size, King Size
5) By End User: Hotel, Hospital, Household
Key Driver - Electric Blankets Market Surges with Rising Demand for Luxury in Hotels
The increasing consumer demand for luxury and comfort in hotels and resorts is expected to propel the growth of the electric blankets market going forward. A hotel is an establishment that offers short-term accommodation to guests, typically on a nightly basis. Travelers are seeking high-end amenities, personalized services, and premium experiences during their stays, this trend reflects a shift in consumer preferences towards indulgence, relaxation, and exclusivity in their accommodation choices. Electric blankets, with their ability to provide customizable warmth and comfort, align well with these objectives. For instance, in Jan 2023, according to the American Hotel & Lodging Association, a US-based national organization, hotel demand improved by 11.1% from 2021 to 2022. Furthermore, the hotel industry is projected to achieve 1.3 billion occupied room nights in 2023 which indicates a significant increasing consumer demand for hotel accommodations. Therefore, the increasing consumer demand for luxury and comfort in hotels and resorts is driving the growth of the electric blankets market.
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Prominent Trend - Revolutionizing Comfort With Electric Blanket Industry's Tech Innovations
Major companies operating in the electric blankets market are developing innovative products such as smart electric blanket to advance the product offering and comfort. A smart electric blanket is an advanced version of a traditional electric blanket that allows users to remotely control its temperature. For instance, in October 2023, Xiaomi Corporation, a China-based consumer electronics company, launched mijia smart electric blanket, that offers temperature regulation, overheat protection, and a 12-hour automatic shutdown feature. The blanket is available in different sizes, including Cal King, 170150cm, 15080cm, and 180*170cm. The blanket features a soft and breathable fine fabric material that is convenient to wash. It also includes fast heating, anti-mites, and anti-moisture feature, which keeps it clean and safe. The blanket has nine heating settings and can swiftly eradicate bacteria and dehumidify, resulting in a comfortable and healthful experience.
Electric Blankets Market Players
Major companies operating in the electric blankets market are Medline Industries Inc., Hudson's Bay Company, Pendleton Woolen Mills, Beurer GmbH, Dimplex North America Limited, Morphy Richards Ltd., Silentnight Group Ltd., Boll & Branch, Sunbeam Products Inc., Faribault Woolen Mill, Jarden Corporation, Perfect Fit Industries LLC, Biddeford Blankets LLC, Shanghai Easun Group, Amritsar Swadeshi Textile Corporation Pvt. Ltd., URBANARA GmbH, Chellco Industries Limited, Youngman Woollen Mills Private Limited, Barker Textiles UAB, Kanata Blanket Co., Bokuk Electronics Co. Ltd., Qingdao Qindao Electric Appliance Co. Ltd., Tenacta Group S.P.A., Heatrae Sadia
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Largest And Fastest Growing Region In The Market
North America was the largest region in the electric blankets market in 2023. The regions covered in the electric blankets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Electric Blankets Market Report Structure
3. Electric Blankets Market Trends And Strategies
4. Electric Blankets Market - Macro Economic Scenario
5. Electric Blankets Market Size And Growth
…..
27. Electric Blankets Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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