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Electric Blankets Market Size Projected To Reach $1.64 Billion By 2034 With A Cagr Of 5.5%
Electric Blankets
What Is the Projected Growth of the Electric Blankets Market?
The market size for electric blankets has seen substantial growth in the recent past. The market is projected to expand from $1.24 billion in 2024 to $1.32 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 6.7%. This growth during the historical period can be credited to factors such as enhanced comfort and convenience, improved affordability and availability, and significant lifestyle changes among consumers.
The market for electric blankets is predicted to experience robust expansion in the upcoming years, reaching a value of $1.64 billion by 2029 with a 5.5% Compound Annual Growth Rate (CAGR). The projected ascension during the forecast period is attributed to the rising awareness of health, increasing elderly populace, an upsurge in consumer demand for luxury and comfort in hospitality settings like hotels and resorts, and a growth in personalization and customization. The expected significant trends within this forecast period encompass the inclusion of advanced safety features, the rising fame of heated mattress pads, broadened product variations with adjustable heat features, the application of intelligent technology for remote handling, the addition of theraputic characteristics, alliances with home automation systems, and the adoption of eco-friendly manufacturing processes.
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What Are the Different Electric Blankets Market 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
Subsegments:
1) By Over Blankets: Heated Throw Blankets, Electric Comforters
2) By Under Blankets: Electric Mattress Covers, Heated Bed Blankets
3) By Electric Pads: Heating Pads For Pain Relief, Heated Mattress Pads
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What Are the Primary Drivers Shaping the Electric Blankets Market?
The forward thrust of the electric blankets market is forecasted to be fueled by heightened consumer preference for luxury and comfort in hotels and resorts. Hotels, which are establishments that provide short-term accommodation services, usually on a per night basis, are witnessing a trend towards customized amenities, personalized services, and luxury experiences. This indicates a pivoting of consumer inclinations towards indulgence, relaxation, and exclusivity when choosing their stay. Electric blankets fit this scenario well, with their adaptability to individual warmth and comfort needs. For instance, data from the American Hotel & Lodging Association, a national organization from the US, in January 2023, revealed an improvement in hotel demand by 11.1% from 2021 to 2022. In addition, the hotel industry is anticipated to clock 1.3 billion occupied room nights in 2023, pointing to a considerable uptick in consumer demand for hotel stays. Consequently, the amplified consumer requirement for luxury and comfort in hotels and resorts is fueling the expansion of the electric blankets market.
Which Companies Are Leading in the Electric Blankets Market?
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
What Are the Major Trends Shaping the Electric Blankets Market?
Leading businesses in the electric blankets market are innovating with products like smart electric blankets to enhance the product range and comfort level. A smart electric blanket is a more sophisticated version of the conventional electric blanket that enables users to adjust the temperature remotely. In October 2023, Xiaomi Corporation, a Chinese consumer electronics firm, introduced the Mijia smart electric blanket. This blanket offers features like temperature adjustment, overheat protection and a 12-hour automatic shutdown function. It comes in various sizes, including Cal King, 170150cm, 15080cm, and 180*170cm, and is made up of a soft, breathable, and easy-clean fabric. Not only does this blanket have fast heating, anti-mite, and anti-moisture functions to keep it clean and safe, but it also has nine heating levels and can swiftly eliminate bacteria and dehumidify, providing a healthful and cozy experience.
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What Are the Top Revenue-Generating Geographies in the Electric Blankets Market?
North America was the largest region in the electric blankets market in 2024. The regions covered in the electric blankets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Electric Blankets Market?
2. What is the CAGR expected in the Electric Blankets Market?
3. What Are the Key Innovations Transforming the Electric Blankets Industry?
4. Which Region Is Leading the Electric Blankets Market?
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