According to the report published by Allied Market Research, the global laundry dryer market was estimated at $14.8 billion in 2020 and is expected to hit $25.1 billion by 2030, registering a CAGR of 4.0% from 2021 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Rapid urbanization and growing awareness of Energy Star certified products drive the growth of the global laundry dryer market. On the other hand, several technological issues restrain the growth to some extent. However, aggressive marketing and availability of discounts are expected to create lucrative opportunities for the key players in the industry.
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.
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• When increase in awareness regarding health and hygiene boosted the demand for laundry dryers, the disrupted supply chain gave way to a steep decline of sales of laundry dryers via brick and mortar stores, thereby giving a mixed impact to the global clothes/laundry dryer market.• However, huge transition of consumers toward online sales channels to purchase laundry dryers has also been noticed during the period.
Based on type, the electric segment accounted for the major share in 2020, holding around three-fourths of the global laundry dryer market. The same segment would also exhibit the fastest CAGR of 4.4% throughout the forecast period.
Based on capacity, the 8 kg to 15 kg segment generated the highest share in 2020, accounting for more than half of the global market. The same segment would also exhibit the fastest CAGR of 4.6% from 2021 to 2030.
Based on region, the market across North America held the lion's share in 2020, garnering nearly three-fifths of the global market. The Asia-Pacific region, however, is expected to cite the fastest CAGR of 6.9% by the end of 2030. The other provinces studied in the report include Europe and LAMEA.
The key market players analyzed in the global laundry dryer market report include BOSCH, Electrolux AB, Haier Group Corporation, Havells India Limited, Whirlpool Corporation, IFB Industries Ltd., LG Electronics Inc., Alliance Laundry Systems Llc, Samsung, and Sears Holdings. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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