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Global Electric Iron Market Projected to Hit USD 2.95 Billion by 2032, Riding High on the Waves of Advancing Technology and Urbanization

06-26-2024 03:16 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Dataintelo

/ PR Agency: Dataintelo
Dataintelo

Dataintelo

The global Electric Iron market has shown remarkable growth, as reported by Dataintelo. The market size stood at USD 1.47 Billion in 2023 and is projected to reach a significant USD 2.95 Billion valuation by 2032. This growth trajectory, scaling at a CAGR of 8.04% during 2024-2032, is primarily due to the rapid advancement in technology and the continued trend of urbanization worldwide.

Urbanization, noted to be a major market driver, is poised to push the demand for electric irons higher. It's commonly linked to improved employment prospects, which leads to greater disposable income. This economic stride in urban living spaces extends to better affordability for household appliances, including electric irons. Coupled with this, urban areas tend to have a more reliable and accessible electrical infrastructure compared to their rural counterparts. Resultantly, there is greater ease in using electric devices such as irons.

Overall, the surge in urbanization is acting as a significant propelling factor for the market. Indeed, this trend is expected to continue and further stimulate the demand and uptake of electric irons in households and across the commercial sectors.

The burgeoning growth of the electric iron market signifies the ever-increasing upgrade in living standards and the strengthening necessity for convenient household appliances. It becomes imperative for key industry stakeholders and new entrants to take note of these compelling insights and gear up for the promising growth potential ahead in the global electric iron market

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐š ๐Ÿ๐ซ๐ž๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ @ https://dataintelo.com/request-sample/6899

๐“๐ก๐ข๐ฌ ๐ข๐ฌ ๐จ๐ง๐ž ๐จ๐Ÿ ๐ญ๐ก๐ž ๐ฆ๐จ๐ฌ๐ญ ๐๐ž๐ญ๐š๐ข๐ฅ๐ž๐ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐š๐ง๐ ๐œ๐จ๐ฏ๐ž๐ซ ๐ญ๐ก๐ž ๐Ÿ๐จ๐ฅ๐ฅ๐จ๐ฐ๐ข๐ง๐  ๐ฌ๐ž๐ ๐ฆ๐ž๐ง๐ญ๐ฌ:

The ๐ž๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ ๐ข๐ซ๐จ๐ง ๐ฆ๐š๐ซ๐ค๐ž๐ญ has been segmented on the basis of๐“๐ฒ๐ฉ๐ž
โ— Dry
โ— Steam

๐”๐ฌ๐š๐ ๐ž
โ— Residential
โ— Commercial

๐ƒ๐ข๐ฌ๐ญ๐ซ๐ข๐›๐ฎ๐ญ๐ข๐จ๐ง ๐‚๐ก๐š๐ง๐ง๐ž๐ฅ
โ— Offline
โ— Online

๐‘๐ž๐ ๐ข๐จ๐ง
โ— Asia Pacific
โ— North America
โ— Latin America
โ— Europe
โ— Middle East & Africa

๐Š๐ž๐ฒ ๐๐ฅ๐š๐ฒ๐ž๐ซ๐ฌ
โ— ๐๐š๐ฃ๐š๐ฃ ๐„๐ฅ๐ž๐œ๐ญ๐ซ๐ข๐œ๐š๐ฅ๐ฌ ๐‹๐ญ๐
โ— Black+Decker Inc.
โ— Crompton Greaves
โ— Electrolux Home Products Inc.
โ— ๐†๐Œ ๐Œ๐จ๐๐ฎ๐ฅ๐š๐ซ ๐๐ฏ๐ญ. ๐‹๐ญ๐.
โ— Havells India Ltd.
โ— Koninklijke Philips N.V.
โ— Panasonic Inc.
โ— Pigeon Corporation
โ— Rowenta
โ— Tefal
โ— TTK Prestige Limited.
โ— Usha Electricals Ltd



Electric iron market segmentation is based on type, usage, distribution channel, region, and key players. Under the type, it is segregated into dry and steam irons. Dry iron, which does not produce any steam of its own, is a traditional type of electric iron. In contrast, a steam iron produces steam as it's a kind of electric iron, which can moisten the fabric to ease the removal of wrinkles. The demand for steam irons is projected to increase due to their efficiency and effectiveness in ironing different fabrics.

Based on usage, the electric iron market is bifurcated into residential and commercial use. Residential usage dominates the market share as ironing clothes at home is a common practice in most households. The commercial sector includes establishments like laundries and clothing industries where ironing is a substantial part of the process. Regarding distribution channel, the global electric iron market is split into online and offline channels. Offline stores have been traditionally dominant; however, with internet penetration and the convenience of online shopping, customers are increasingly ordering electric irons online.

In terms of regional segmentation, the countries evaluated in the electric iron market include Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa. The Asia Pacific holds a noteworthy share of the market due to the large population and the presence of several manufacturers. Europe and North America also have significant share due to high consumer purchasing power and demand for advanced electric irons. The markets in Latin America and the Middle East & Africa are projected to grow significantly attributable to increasing urbanization and evolving lifestyle trends.

Several key players are shaping the global electric iron market. These include Bajaj Electricals Ltd, Black+Decker Inc., Crompton Greaves, Electrolux Home Products Inc., GM Modular Pvt. Ltd, Havells India Ltd., Koninklijke Philips N.V., Panasonic Inc., Pigeon Corporation, Rowenta, Tefal, TTK Prestige Limited, and Usha Electricals Ltd. Competition among these players is intense, with them frequently engaging in strategies such as innovative product launches, mergers and acquisitions, partnerships, among others to stay ahead in the market

๐‘๐ž๐ช๐ฎ๐ž๐ฌ๐ญ ๐š ๐Ÿ๐ซ๐ž๐ž ๐ฌ๐š๐ฆ๐ฉ๐ฅ๐ž ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ @ https://dataintelo.com/request-sample/6899

Market Drivers:

1. Growth in Real Estate: With the increasing number of residential properties and an increase in urbanization, the demand for household appliances like electric irons is rising.

2. Rising Disposable Income: With the increase in disposable income, customers are ready to spend on premium and energy-efficient appliances, driving the electric iron market growth.

3. Technological Advancements: Modern electric irons come with features like temperature control, auto-off, non-stick soleplates, and cordless designs. These advancements are attracting new customers, thus driving the market.

4. Increase in working population: The rise in the number of working individuals, especially females, has significantly contributed to the growth of the electric irons market. Working individuals, generally having less time for household chores, prefer convenient appliances for their daily use.

Opportunities:

1. E-commerce platforms: E-commerce opens up a new sales channel for the electric iron market, offering a wide range of products at competitive prices; it is set to provide new opportunities for growth.

2. Emerging markets: Developing countries, especially in the Asia Pacific, Africa, and Latin America, represent enormous potential for the electric iron market due to rising income levels, urbanization, and changing lifestyles.

3. Green Appliances: There is a growing demand for energy-efficient appliances due to the rising awareness about energy conservation. Manufacturers have an opportunity to invest in the development of eco-friendly, energy-efficient electric iron.

4. Product Innovation: There is a substantial opportunity for manufacturers to differentiate their products by introducing innovative features like cordless irons, steam irons, ironing presses, and more.

5. Demand for lightweight and travel-friendly irons: There is a growing demand for lightweight, compact, and travel-friendly irons, especially among frequent travelers. This segment provides substantial opportunities for growth

๐˜๐จ๐ฎ ๐œ๐š๐ง ๐๐ข๐ซ๐ž๐œ๐ญ๐ฅ๐ฒ ๐›๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐ซ๐ž๐ฉ๐จ๐ซ๐ญ ๐Ÿ๐ซ๐จ๐ฆ: https://dataintelo.com/checkout/6899

This report should be purchased by corporations, businesses and investors who are looking for comprehensive data analysis, industry trends, market predictions, and in-depth research on their respective fields. It can also be beneficial for researchers, academicians, and students who need accurate data and analytics for their studies or projects.

Dataintelo is a very reliable source as it provides accurate market research reports which are delivered after thorough data verification. The reports from Dataintelo are also easy to understand, thus it saves your overall research time and effort. They offer strategic insights into the market that helps in better decision-making processes. The unique selling point of Dataintelo is its broad scope of information that covers variety of industries worldwide. Moreover, they have flexible customization options that can cater to specific needs or interests. Dataintelo provides a comprehensive 360-degree view of the market, which can help businesses to stay ahead in their respective markets

Contact Us :
Dataintelo
Name - Alex Mathews
Phone No.: +1 909 414 1393
Email - sales@dataintelo.com
Website - https://dataintelo.com
Address - 500 East E Street, Ontario, CA 91764, United States.

๐‘๐ž๐ฉ๐จ๐ซ๐ญ ๐œ๐š๐ง ๐›๐ž ๐œ๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐ž๐ ๐š๐ฌ ๐ฉ๐ž๐ซ ๐ฒ๐จ๐ฎ๐ซ ๐ง๐ž๐ž๐.

๐„๐ฆ๐š๐ข๐ฅ ๐ฎ๐ฌ ๐จ๐ง - ๐ฌ๐š๐ฅ๐ž๐ฌ@๐๐š๐ญ๐š๐ข๐ง๐ญ๐ž๐ฅ๐จ.๐œ๐จ๐ฆ

๐€๐›๐จ๐ฎ๐ญ ๐ƒ๐š๐ญ๐š๐ข๐ง๐ญ๐ž๐ฅ๐จ:

๐ƒ๐š๐ญ๐š๐ข๐ง๐ญ๐ž๐ฅ๐จ boasts extensive experience in creating tailored Market research reports across diverse industry verticals. With in-depth Market analysis, creative business strategies for new entrants, and insights into the current Market scenario, our reports undergo intensive primary and secondary research, interviews, and consumer surveys.

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