Electric Tumble Dryers - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2029)
The Electric Tumble Dryers Market size is estimated at USD 1.97 billion in 2024, and is expected to reach USD 2.51 billion by 2029, growing at a CAGR of 4.65% during the forecast period (2024-2029).
Key Highlights
The tumble dryer market is driven by factors such as increased disposable income, a rising urban population, and an elevated standard of living, coupled with the growing middle class worldwide. These elements will further fuel the growth of the tumble dryer market.
Additionally, tumble dryers use significantly less electricity than heating appliances, making them ideal for saving on utility bills and appealing to the energy-conscious population. Consequently, governments encourage the use of dryers with high Energy Star ratings.
These factors establish a precedent for the significant maintenance of demand for the product during the forecast period.
The electric dryer market is evolving with the development of highly efficient heat pump dryer technology. The introduction of new functions for electric dryers, such as the use of mobile phones to control the devices and anti-wrinkle technology, represents one of the most important trends in the market.
Vendors are investing in technology and research to develop a system of electric dryers that apply a post-cycle crease to prevent textiles from wrinkling. Additionally, factors such as the increasing focus on retrofitting heat pump dryers, as they consume less energy, will contribute to market development over the next four years
Electric Tumble Dryers Market Trends
The Growth of E-Commerce is Accelerating Market Expansion
The rise of e-commerce platforms has made it easier for consumers to purchase dryer sheets online. This enables them to compare prices, avail discounts, and choose from 'Buy Now, Pay Later' (BNPL) options, as well as a wider range of products.
Additionally, there is a growing demand for dryers equipped with high-tech sensors and technology to prevent over-drying and reduce fabric damage. These emerging trends will play a crucial role in shaping the future of the tumble dryer industry worldwide. Technological advances, driven by the widespread use of smartphones and the internet, are expected to propel the tumble dryer market in the coming years.
North America Expected to Dominate the Market
Sales of tumble dryers and revenue growth are expected to be highest in North America, where tumble dryers have the largest market share. Tumble dryer demand in North America is driven by various factors, including changing weather patterns and the growing demand for smart home products. The demand for tumble dryers in North America is also driven by increased consumer spending on household appliances.
The North American region will account for the largest market share due to the increasing preference for smart homes. Furthermore, the increasing preference for high-quality domestic products will further increase product consumption. According to Smart Home Technology, over the next year, more than 80 million households plan to purchase a smart home gadget.
Electric Tumble Dryers Industry Overview
The electric tumble dryers market is moderately fragmented. The market's competitive landscape has also been analyzed in the report. Some of the major players include Samsung Electronics Co., Ltd., LG Electronics, American Dryer, Miele Professional, and Electrolux Professional.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Key Highlights
The tumble dryer market is driven by factors such as increased disposable income, a rising urban population, and an elevated standard of living, coupled with the growing middle class worldwide. These elements will further fuel the growth of the tumble dryer market.
Additionally, tumble dryers use significantly less electricity than heating appliances, making them ideal for saving on utility bills and appealing to the energy-conscious population. Consequently, governments encourage the use of dryers with high Energy Star ratings.
These factors establish a precedent for the significant maintenance of demand for the product during the forecast period.
The electric dryer market is evolving with the development of highly efficient heat pump dryer technology. The introduction of new functions for electric dryers, such as the use of mobile phones to control the devices and anti-wrinkle technology, represents one of the most important trends in the market.
Vendors are investing in technology and research to develop a system of electric dryers that apply a post-cycle crease to prevent textiles from wrinkling. Additionally, factors such as the increasing focus on retrofitting heat pump dryers, as they consume less energy, will contribute to market development over the next four years
Electric Tumble Dryers Market Trends
The Growth of E-Commerce is Accelerating Market Expansion
The rise of e-commerce platforms has made it easier for consumers to purchase dryer sheets online. This enables them to compare prices, avail discounts, and choose from 'Buy Now, Pay Later' (BNPL) options, as well as a wider range of products.
Additionally, there is a growing demand for dryers equipped with high-tech sensors and technology to prevent over-drying and reduce fabric damage. These emerging trends will play a crucial role in shaping the future of the tumble dryer industry worldwide. Technological advances, driven by the widespread use of smartphones and the internet, are expected to propel the tumble dryer market in the coming years.
North America Expected to Dominate the Market
Sales of tumble dryers and revenue growth are expected to be highest in North America, where tumble dryers have the largest market share. Tumble dryer demand in North America is driven by various factors, including changing weather patterns and the growing demand for smart home products. The demand for tumble dryers in North America is also driven by increased consumer spending on household appliances.
The North American region will account for the largest market share due to the increasing preference for smart homes. Furthermore, the increasing preference for high-quality domestic products will further increase product consumption. According to Smart Home Technology, over the next year, more than 80 million households plan to purchase a smart home gadget.
Electric Tumble Dryers Industry Overview
The electric tumble dryers market is moderately fragmented. The market's competitive landscape has also been analyzed in the report. Some of the major players include Samsung Electronics Co., Ltd., LG Electronics, American Dryer, Miele Professional, and Electrolux Professional.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Electric dryers are Growing due to the Demand for Energy Efficient Appliances
4.2 Market Restraints
4.2.1 High Installation Cost
4.3 Market Opportunities
4.3.1 Increase in Demand for Integration of the Internet of Things in Electric Dryer
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Impact of COVID-19 on the Market
4.6 Insights into Technological Advancements in the Industry
5 MARKET SEGMENTATION
5.1 By Type of Vent
5.1.1 Vented Dryer
5.1.2 Ventless Dryer
5.2 By Application
5.2.1 Residential
5.2.2 Commercial
5.3 By Distribution Channel
5.3.1 Supermarkets/Hypermarkets
5.3.2 Specialty Stores
5.3.3 Company-Owned Stores
5.3.4 Online
5.3.5 Other Distribution Channels
5.4 By Geography
5.4.1 North America
5.4.2 Latin America
5.4.3 Europe
5.4.4 Asia-Pacific
5.4.5 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Samsung
6.2.2 LG
6.2.3 American Dryer
6.2.4 Miele Professional
6.2.5 Maytag
6.2.6 Dexter Laundry
6.2.7 Haier
6.2.8 Pellerin Milnor
6.2.9 GIRBAU
6.2.10 Schulthess
6.2.11 Renzacci*
7 FUTURE MARKET TRENDS
8 DISCLAIMER
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Drivers
4.1.1 Electric dryers are Growing due to the Demand for Energy Efficient Appliances
4.2 Market Restraints
4.2.1 High Installation Cost
4.3 Market Opportunities
4.3.1 Increase in Demand for Integration of the Internet of Things in Electric Dryer
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
4.5 Impact of COVID-19 on the Market
4.6 Insights into Technological Advancements in the Industry
5 MARKET SEGMENTATION
5.1 By Type of Vent
5.1.1 Vented Dryer
5.1.2 Ventless Dryer
5.2 By Application
5.2.1 Residential
5.2.2 Commercial
5.3 By Distribution Channel
5.3.1 Supermarkets/Hypermarkets
5.3.2 Specialty Stores
5.3.3 Company-Owned Stores
5.3.4 Online
5.3.5 Other Distribution Channels
5.4 By Geography
5.4.1 North America
5.4.2 Latin America
5.4.3 Europe
5.4.4 Asia-Pacific
5.4.5 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Samsung
6.2.2 LG
6.2.3 American Dryer
6.2.4 Miele Professional
6.2.5 Maytag
6.2.6 Dexter Laundry
6.2.7 Haier
6.2.8 Pellerin Milnor
6.2.9 GIRBAU
6.2.10 Schulthess
6.2.11 Renzacci*
7 FUTURE MARKET TRENDS
8 DISCLAIMER
