Global Travel Irons Market 2016-2020
About Irons Market
The penetration rate of irons is very high in most countries across the globe as these are small generic appliances. Most iron purchases are replacement purchases with an average replacement cycle of 8-9 years. Irons are meant for long-term use and generally do not require frequent replacement. Branded irons are mostly durable and of superior quality. This reduces the need for frequent purchase of this small appliance, which acts as a major barrier to the market's growth. Since consumers do not buy them frequently, marketers find it difficult to build brand loyalty. Also, the increased preference for and use of casual clothing, which do not require ironing, is a challenge for the growth of the global irons market.
Technavio’s analysts forecast the global travel irons market to grow at a CAGR of 4.49% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global travel irons market for 2016-2020. To calculate the market size, the report considers revenue generated through the sales of travel irons to travelers.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Travel Irons Market 2016-2020
Technavio recognizes the following companies as the key players in the report global travel irons market: Conair, Koninklijke Philips, NACCO Industries, Panasonic, Rowenta, Sunbeam Products, Bharat Light Machine, Fabiano, Korjo, Morphy Richards, Russell Hobbs, Smartek USA, Swan Brand, Usha, and Wilko Retail
Commenting on the report, an analyst from Technavio’s team said that vintage-style travel irons is one the key trends. Vintage-style travel irons with retro gadget looks are popularly sold on e-commerce websites. Most of these vintage-style travel irons are foldable and come with variable control settings for greater efficiency. Materials used to manufacture these retro-styled travel irons include metals, stainless steel, and Bakelite. The aesthetic appeal of these vintage-styled travel irons (stylish classic design and unique body colors) is driving their sales. Most of these gadgets are purchased for gifting purposes.
According to the report, travel irons form inexpensive alternatives to regular irons is one of the drivers promoting growth. Consumers have different reasons for opting for a travel iron. There are travelers who do not prefer using the irons provided by hotels as these irons are often in bad condition, and using them can stain clothing. Carrying a small and portable travel iron, therefore, is often one of the most viable options for travelers, especially for those on a business trip. Travel irons are compact and lightweight, and some of them also have folding handles, which make it easy for consumers to pack and carry them.
Further, the report states that hotels in developed countries offering irons is one of the challenges that the market is facing. Travel irons cannot be deemed as a necessity, as most of the hotels in developed countries offer irons and ironing boards to their guests on request. Even complementary fast laundry services are available in many hotels. In such cases, carrying a travel iron becomes unnecessary. A growing share of travelers also use professional dry cleaning services available in high-budget hotels for commonly ironed clothing such as shirts, pants, dresses, and suits. Hence, travel irons are losing out to these well-equipped hotels in developed countries, which provide either irons or complementary fast laundry services.
Conair, Koninklijke Philips, NACCO Industries, Panasonic, Rowenta, Sunbeam Products, Bharat Light Machine, Fabiano, Korjo, Morphy Richards, Russell Hobbs, Smartek USA, Swan Brand, Usha, and Wilko Retail
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook