Press release
Dryers Market Size, Insights, Growth Rate, Trends Analysis And Forecast To 2033
Dryers Market
Dryers 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 $19.83 billion In 2028 At A CAGR Of 8.6% :
The dryers market size has grown strongly in recent years. It will grow from $13.01 billion in 2023 to $14.25 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. The growth in the historic period can be attributed to industrial revolution, changing lifestyles, urbanization, marketing and advertising.
The dryers market size is expected to see strong growth in the next few years. It will grow to $19.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to energy efficiency, smart and connected appliances, health and allergen control, customization and aesthetics, compact and space-saving solutions. Major trends in the forecast period include heat pump dryers, steam and wrinkle-release functions, sensor technology, sustainable materials, quiet operation.
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Dryers Market Major Segments
The dryers market covered in this report is segmented -
1) By Type: Spin Dryers, Condenser Dryers, Heat Pump Dryers, Mechanical Steam Compression Dryers, Solar Clothes Dryer, Other Types
2) By Type Of Vent: Vented Dryer, Ventless/Condenser Dryer
3) By Distribution Channel: Specialty Stores, Company-Owned Stores, Hypermarkets and Supermarkets, Online, Other Distribution Channels
4) By End User: Commercial, Residential
Key Driver - Technological Advancements And IOT Integration Propel Dryer Market Growth As Internet Access Soars Globally
Technological advances are expected to drive the growth of the market for dryers in the forecast period. Increased access to the internet and the use of smartphones supported the development and consumption of innovative technologically enabled appliances. More than 330 million people use the internet, taking the total number of global internet users to 4.72 billion by April 2021 and 48.2% of internet users accessed the web from a mobile device. Furthermore, increasing integration of the Internet of Things (IoT) allowed customers to connect with the dryers via the internet and remotely control essential tasks by collecting and exchanging data. This in turn drives the growth of dryers market in the forecast period.
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Prominent Trend - Dryer Manufacturers Prioritize Energy Efficiency To Meet Global Regulations And Consumer Demands
Dryer manufacturers are increasingly producing energy-efficient products to reduce their carbon footprint and enable energy savings for consumers. The rise of energy-efficient appliances can be attributed to the stringent government regulations on electric home appliances and advances in technology. Energy efficient appliances are designed to utilize minimum energy to complete the required task. Currently, over 80 countries have standards and labels for energy-efficient appliances. For example, in the USA, ENERGY STAR certified dryers use 20% less energy than a standard washing machine.
Dryers Market Players
Major companies operating in the dryers market include Haier Electronics Group Co. Ltd., LG Electronics Inc., Samsung Electronics Co. Ltd., Robert Bosch GmbH, Koninklijke Philips N.V. (Royal Philips), Whirlpool Corporation, Panasonic Corporation, Groupe SEB, HAAN Corporation, Conair Corporation, Fridja Limited, CUORI ELECTRICAL APPLIANCES (Cuori), Electrolux AB, Jiffy Steamer Company LLC, Sears Holdings Corporation, Asko Appliances, Crosslee PLC, Midea Group Co. Ltd., Miele & Cie. KG, Smeg S.p.A., Gorenje Group, Amana (Amana Corporation), Frigidaire (Frigidaire International), Maytag Corporation, Indesit Company (now part of Whirlpool Corporation), Zanussi (Zanussi Group), Bosch (Robert Bosch GmbH), GE Appliances (General Electric Appliances), Kenmore (Kenmore Appliances), Speed Queen (Alliance Laundry Systems), Fisher & Paykel Appliances, Blomberg, Summit Appliance, Danby Appliances Inc., Avanti Products LLC, Panda (Panda Appliances), Magic Chef (MCA Corporation), Equator Advanced Appliances, EdgeStar, Hotpoint (Hotpoint Appliances), Hoover (Hoover Ltd.), Ariston (Ariston Thermo Group), Candy (Candy Group), Beko (Beko Elektronik A.S.), Hisense Group Co. Ltd., Toshiba Corporation
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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the dryers market in 2023. Western Europe was the second-largest region in the dryers market. The regions covered in the dryers 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. Dryers Market Report Structure
3. Dryers Market Trends And Strategies
4. Dryers Market - Macro Economic Scenario
5. Dryers Market Size And Growth
…..
27. Dryers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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