Global Laundry Dryer Market to Reach $25.1 Billion by 2030, Driven by Residential Demand

Allied Market Research published a new report, titled, "Laundry Dryer Market Size, Share, Competitive Landscape and Trend Analysis Report, by Type, Capacity, Technology, Application and Sales Channel : Global Opportunity Analysis and Industry Forecast, 2021-2030". The research provides a current evaluation of the global market landscape, highlighting recent trends, key drivers, and the overall market environment. The study examines the main factors influencing industry expansion, analyzing both its growth drivers and restraints. Additionally, it sheds light on factors expected to offer promising opportunities for development of industry in the future. The global laundry dryer market size was valued at $14.8 billion in 2020, and is projected reach $25.1 billion by 2030, registering a CAGR of 4.0% from 2021 to 2030.

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Electric segment leads in terms of global market share and is likely to gain high traction in coming years. The use of laundry dryers is highly prevalent in most of the western countries and developed countries. Many developing countries across the world, however, dry their clothes outside their houses balconies, verandas, and backyards using natural air and sunlight. However, there is a tremendous rise in pollution lives in such countries and drying clothes outside is harming these clothes by discoloration as well as adhesion of dirt, dust and particulate matter. There is also the threat of small animals and birds soiling these clothes and can sometimes also cause rips and tears in the clothes. To overcome these problems, many consumers are transitioning over to laundry dryers from traditional air drying. The consumers are becoming aware about the various advantages associated with laundry dryers, which is leading to a greater adoption of such types of dryers.

Players are also trying to improve energy consumption of laundry dryers. Use of repurposed materials in the production of laundry dryer is rising, which is leading to reduction in waste. Such initiatives are likely to sway purchasing decision and likely to provide new growth opportunities for the engaged stakeholders in the laundry dryer industry.

The outbreak of the pandemic has created awareness not only for personal health and hygiene, but for the environment as well. Many companies are now taking efforts in order to be environmentally sustainable and reduce their environmental impact as much as possible. The millennial consumer population is especially concerned with environmental sustainability and conservation and gives preference to products that follow the same principles. Engaged stakeholder in the laundry dryer market are taking efforts to make sure that their production processes are environment friendly.

Based on type, the global market is bifurcated into gas and electric. By capacity the market is segmented into upto 8 kg, 8 kg to 15 kg, and above 15 kg. Based on technology the global market is bifurcated into vented and condensed. By application, the global market is bifurcated into residential and commercial. Based on sales channel the global market is studied across offline channels and online channels. The global laundry dryer market is also studied across North America, Europe, Asia-Pacific, and LAMEA.

Some of the major players profiled for in the laundry dryer market analysis include Alliance Laundry Systems Llc, BOSCH, Electrolux AB, Haier Group Corporation, Havells India Limited, IFB Industries Ltd., LG Electronics Inc., Samsung, Sears Holdings, and Whirlpool Corporation. Other prominent players catering towards laundry dryer market demand are Toshiba, Sharp, Panasonic Corp, Godrej Group, Hitachi Appliances Inc., Candy Group, GD Midea Holding Co. Ltd., and Sharp.

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Analyst Review

The last few years have seen a greater adoption and sale of laundry dryers in the world. A rise in awareness regarding health and hygiene practices and the convenience associated with drying clothes quickly and effectively has led to the increase in sales. Furthermore, increase in disposable incomes and rising standards of living of people in developing countries, especially in the Asia-Pacific region have resulted in new opportunities for the engaged stakeholders.

Laundry dryers are mainly electric, however, gas powered laundry dryers are also prevalent and used by many consumers. These dryers also run on electricity, but the heat generation is done with the help of natural gas or propane. These machines require modifications to the house in order to setup a gas input. Two main techniques are used for drying the clothes, which is vented and condensed dryers. Vented dryers require to be placed near a window or an open area so that it can pull in air and then release the air as well, while condensed dryers can be placed anywhere in the house

Key Benefits For Stakeholders:

• The laundry dryer market forecast is offered along with information related to key drivers, restraints, and opportunities.
• The report provides an extensive analysis of the current and emerging laundry dryer market trends and opportunities.
• The report provides detailed qualitative and quantitative analysis of the current trends and future estimations that help evaluate the prevailing laundry dryer market opportunities in the market.
• The market analysis is conducted by following key product positioning and monitoring the top competitors within the market framework.
• The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.

Reasons to Buy This Laundry Dryer Market Report:

• Mergers and acquisitions should be well-planned by identifying the best manufacturer.
• Sort new clients or possible partners into the demographic you're looking for.
• Suitable for providing dependable and high-quality data and analysis to assist your internal and external presentations.
• Develop tactical initiatives by gaining a better grasp of the areas in which huge corporations can intervene.
• To increase and grow business potential and reach, develop and plan licencing and licencing strategies by finding possible partners with the most appealing projects.
• Recognize newcomers with potentially strong product portfolios and devise effective counter-strategies to acquire a competitive edge.
• To develop effective R&D strategies, gather information, analysis, and strategic insight from competitors.

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Related Report:

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➢ Laundry Detergent Market Growth Opportunities In Global Industry By 2030
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