Electric Dryer Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2026
- Transparency Market Research
An electric dryer is emerging as a major home appliance. It comprises a tumbling drum and uses hot air to dry clothes. The air inside an electric dryer is heated with the help of coiled wires, with the help of electric current. Consumers are becoming aware about the faster drying cycle of electric dryers, compared to open-air drying of clothes on clothes lines. The open-air drying of clothes is affected during bad weather conditions, whereas an electric dryer can be utilized even during bad weather conditions. Electric dryers are labeled with energy labels, from A to G, where G represents the lowest energy efficient rate and A represents the highest energy efficient rate.
The key factors driving the global electric dryers market are the need for energy efficient electric dryers among consumers. Consumers are looking for energy efficient dryers to reduce the consumption of electricity and save money on bills. Manufacturers are focusing on introducing more efficient electric dryers to cater to the enhanced demand for energy efficient appliances with features such as speed of drying, along with energy efficiency, and noise emissions. Furthermore, increasing emphasis on improving heat pump dryers as they use less energy will help in the evolution of the market in the coming years.
High power consumption of electric dryers and high initial investment are few factors hampering the growth of the electric dryers market. However, in order to deal with this drawback, manufacturers have started focusing on technical developments for obtaining enhanced energy labels. With advancements in technology, the new generation of electric dryers consists of smart features such as moisture sensors and LED interfaces.
The introduction of innovative features such as the use of smartphones to control the appliance and wrinkle reduction technology are some of the key trends observed in the electric dryer market. Use of smartphones allows consumers to diagnose problems and communicate with the manufacturer conveniently via text alerts. Manufacturers are investing in technology to come up with the mechanism that implements tumbling after a cycle to prevent clothes from wrinkling. Some electric dryers are equipped with features that use steam to remove wrinkles and odor.
The global electric dryer market is segmented on the basis of type, end user, distribution channel, and region. Based on type, the market is fragmented into spin dryers, condenser dryers, heat pump dryers, mechanical steam compression dryers, solar clothes dryer, and others. End user segment is divided into hotels, residences, food processing & food service, office buildings, hospitals, malls, and railway stations among others. Furthermore, the market is fragmented on the basis of distribution channel into hypermarkets/ supermarkets, specialty retailers, online and others.
Based on region, the electric dryer market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to dominate the market followed by Europe. North American players are introducing different technological innovations such as Super-Efficient Dryer Initiative to support improvements in dryer energy efficiency. Heat pump dryers segment is predicted to help North America maintain its market share during the forecast period, followed by Europe, as the market is undergoing a transformation driven by heat pump dryer technology.
The players involved in the designing, development, and manufacturing of electric dryers are Samsung Electronics Co., Ltd., Whirlpool Corporation, Robert Bosch GmbH, Electrolux AB, LG Electronics, Arçelik, Gorenje, Haier Group Corporation, Sears Holdings (Kenmore), Panasonic Corporation, and Smeg Group S.p.A. among others. Manufacturers are likely to make capital investments to introduce products with Energy Star labels and Wi-Fi enabled dryers. Moreover, increasing collaborations between players and adoption of different techniques to market and distinguish their products will be key practices used by vendors.
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