Global Household Clothes Steamers and Dryers Market 2017-2021
About Household Clothes Steamers and Dryers
Clothes steamers and dryers are home appliances used by household consumers for steaming and drying clothes. Clothes steamer is a device that is used to remove wrinkles from clothes of different fabrics, whereas clothes dryer is used to absorb moisture from clothes, reduce odor, and remove dust-mites from clothes. The global laundry care market is the related market for the global household clothes steamers and dryers market. In the global laundry care market, there are several types of products available; such as laundry detergents, fabric softeners, bleaches, fabric protectors; and specialty products such as fine washable detergents, starch, and pre-wash additives. Such specialty products are widely used in matured markets such as the Americas and Europe. Church & Dwight, Henkel, Procter & Gamble (P&G), The Clorox Company, and Unilever are key vendors in the global laundry care market.
Technavio’s analysts forecast the global household clothes steamers and dryers market to grow at a CAGR of 4.13% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global household clothes steamers and dryers market for 2017-2021. To calculate the market size, the report considers the value sales of clothes steamers and dryers.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Household Clothes Steamers and Dryers Market 2017-2021
Technavio recognizes the following companies as the key players in the global household clothes steamers and dryers market: Haier Electronics Group, Koninklijke Philips, LG Electronics, Robert Bosch, SAMSUNG, and Whirlpool
Other Prominent Vendors in the market are: Conair, CUORI ELECTRICAL APPLIANCES, Electrolux, Fridja, Groupe SEB, HAAN, Jiffy Steamer, Panasonic, and Sears.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Rising focus on energy efficiency of clothes dryers. Clothes dryers are used as common household appliances across regions such as the Americas and Europe. For instance, in the Americas, more than 75% households have dryers. These dryers are one of the highest energy users. Therefore, the US Environmental Protection Agency (EPA) has pushed the manufacturers to produce energy-efficient clothes dryers that can save energy. Such energy-efficient clothes dryers should be certified with the ENERGY STAR label that denotes the energy-efficiency of the product. As per the US EPA, if all ENERGY STAR-certified household clothes dryers are sold in the US, then residents can save $1.45-$1.55 billion each year in utility costs. In addition, due to the use of energy-efficient household appliances, greenhouse gas emissions reduced up approximately 1.5 billion metric tons in the last two decades worldwide.”
According to the report, one of the major drivers for this market is Product innovation leading to product premiumization. In the global household clothes steamers and dryers market, clothes dryers generally fall under the premium category. One of the latest technologies in home appliances is smart connectivity. For instance, clothes dryers can now be connected easily with smartphones or tablets using wireless technologies such as Wi-Fi. Users can get alerts through the installed mobile application, and can also control and monitor clothes dryers from anywhere in the house. Such products are highly priced due to the use of the latest integrated technology. SAMSUNG, LG Electronics, and Whirlpool are some of the vendors that offer such smart connected clothes dryers to customers.
Further, the report states that one of the major factors hindering the growth of this market is Fluctuations in raw material costs. The fluctuations in profit margins of manufacturers of home appliances are due to the increasing prices of raw materials and intense competition among vendors. This requires execution of a proper pricing strategy to challenge other vendors. The core raw material used in the production of clothes dryers is metal. The increase in the price of metal has a directly proportional impact on the prices of home appliances, including clothes dryers. This leads vendors to raise the prices of their products. This cycle of inclining costs impacts the pricing strategy of the players. Fluctuations in the prices of raw materials used for producing home appliances have a negative impact on the cash flow of the players. This further affects profit margins of the vendors negatively. This is a challenge for the growth of the vendors in the global household clothes steamers and dryers market. Reduction of profit margins leads to reduced spending on marketing campaigns and other activities.
Haier Electronics Group, Koninklijke Philips, LG Electronics, Robert Bosch, SAMSUNG, Whirlpool, Conair, CUORI ELECTRICAL APPLIANCES, Electrolux, Fridja, Groupe SEB, HAAN, Jiffy Steamer, Panasonic, and Sears.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook