Global Electric Clothes Dryer Market Size, Share, and COVID-19 Impact Analysis, By Type (Fully-Automatic & Semi-Automatic), By Dryer Type (Vented, Condensed & Heat Pump), By End User (Residential, Commercial), By Distribution Channel (Online, Offline) and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) Analysis and Forecast 2022-2028

KEY MARKET INSIGHTS

The global Electric Clothes Dryer Market was valued at USD 14.8 Bn in 2021. The market is projected to grow USD 25.1 Bn in 2028, at a CAGR of 4.0%. Cloth dryers have become popular in developing countries and are widely used in developing countries. Electric cloth dryers are that machines which remove moisture from textiles after they have been washed, allowing them to dry quickly. These devices are situated alongside washing machines to allow for quick clothing transfer from the washer to the dryer. The tumblers in these dryers can be heated with electricity or gas to allow for speedy drying of the clothing. Condensed dryers suck out the moisture from the garments and collect it at the bottom of the machine for later disposal, whereas vented dryers suck in atmospheric air and heat it up to dry the clothes. Although household laundry dryers account for a substantial portion of the global market, business institutions such as hotels and hospitals also utilize laundry dryers extensively.

The market for electric clothes dryers is undergoing a transformation through the development of extremely efficient heat pump dryer technology. The development of novel features in electric dryers, such as the use of cellphones to manage appliances and wrinkle reduction technology, is one of the market's major trends. Vendors are investing in technology and research to develop a system in electric dryers that implements tumbling after a cycle to prevent wrinkles in textiles. Furthermore, factors such as a growing focus on upgrading heat pump dryers since they consume less energy will aid the market's evolution during the next four years.

COVID-19 ANALYSIS 

The global pandemic, COVID-19, has had a negative impact on the electric dryer business. With its heat wave, an electric dryer is used to dry garments. The electric dryer was not considered a vital item during the continuing pandemic. As a result, throughout these times, the demand for an electric dryer has reduced. The supply and distribution system had been disrupted as a result of the COVID-19 outbreak forcing governments to implement lockdown. Electric dryers were not allowed to be imported or exported because they were not a necessary item. Hypermarkets/supermarkets and convenience stores were shuttered, resulting in a demand-supply imbalance. Due to a lack of personnel and a disturbed supply of parts, the production process for new batches of electric dryers has become a challenge for enterprises.

LATEST TREND

Prevalence of User Friendly Smart Devices

Introduction of user friendly smart devices are propelling the growth of the global electric clothes dryer market. Shifting of consumer preference to smart devices to make their time available for other purposes. Professionals have adopted relying on smart devices which is powered by IoT and other technologies. Electric cloth dryer has come up with Wi-Fi enabled & remote control technology to save time and access other features though mobile application.

DRIVING FACTORS

Surging Product Innovations Are Propelling the Market Forward

Increasing demand of smart friendly devices is fueling the growth of the global electric clothes dryer market. The technological advancement is playing the major role in the electric clothes dryer market growth. Individuals prefer energy saving appliances across their home to save their valuable time. The new innovations such as LED interfaces, humidity sensors, noise emission and others are featured to reach huge customer base. For instance, in October 2021, LG has launched dual inverter heat pump dryer which is equipped with Smart ThinQ features. It is available both online and offline stores.

Increasing Number of Working Professionals and Busy Lifestyle

Growing number of working professionals which are looking for energy efficient clothes dryer to reduce electricity usage is likely to anticipate the growth of the global electric clothes dryer market. Moreover, their busy lifestyle is creating the demand of global electric clothes dryer market. Adoption of residential energy efficient appliances is creating the need for electric clothes dryer devices.

RESTRAINTS

Concerns Pertaining to High Maintenance Cost Will Restrict the Growth of Electric Cloth Dryer Market

High maintenance cost of the laundry dryer is limited the growth of the global electric clothes dryer market. Increasing usage may suffer due to the high maintenance cost for the individuals. Industrial solutions have a higher cost and require more upkeep which has resulted in increasing prices. Nonetheless, the demand for maintaining and updating technologies follows the initial capital investments.

SEGMENTATION

The global electric clothes dryer market is segmented by Type (Fully-Automatic & Semi-Automatic), by Dryer Type (Vented, Condensed & Heat Pump), by End User (Residential, Commercial), by Distribution Channel (Online, Offline) and Region. Based on the type, the market is categorized into fully-automatic & semi-automatic. Based on dryer type, the market is categorized into vented, condensed & heat pump. Based on end user, the market is categorized into residential & commercial. Based on distribution channel, the market is categorized into Online & Offline. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.

By Type

Based on type, is categorized into fully-automatic and semi-automatic. The fully-automatic segment is expected to dominate the market share of global electric clothes dryer market owing to the shifting of consumer preference for fully-automatic due to their busy lifestyle and to reduce electricity bill.

By Dryer Type

Based on dryer type, the market is categorized into vented, condenser & heat pump. The condenser is expected to dominate the market share of global electric clothes dryer market owing to the increasing usage of condenser dryer as its energy efficient and provide high drying speed.

By End User

Based on end user, the market is categorized into residential, commercial. The residential is expected to dominate the market share of global electric clothes dryer market owing to the compact-sized laundry devices are becoming more popular among household users. Furthermore, during the winter and rainy seasons, households prefer to utilize electric cloth dryers to complete washing tasks.

By Distribution Channel

Based on distribution channel, the market is categorized into online & offline. The offline segment is expected to dominate the market share of global electric clothes dryer market owing to the easy availability in their proximity and rising number of specialty stores and supermarkets.

REGIONAL INSIGHTS

The global electric clothes dryer market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America region is expected to dominate the market share owing to the growing preference for smart homes are preferred. In addition, rising consumer preference for high-end domestic products is likely to boost product consumption even further. According to a survey from Smart Home Technology Usage, Satisfaction, and Purchase Intent 2020, the number of households planning to buy a new smart home gadget in the next year is expected to reach over 80 million. According to the poll, 64% of the 606 decision-makers in the United States want to purchase new smart technology. However, Europe region is expected to witness the highest growth rate during the forecast period of global electric clothes dryer market due to the consumer demand for innovative technology-based appliances is growing. In Germany, the United Kingdom, and France, evolving significant firms' supply chain channels and production capacities are primarily producing lucrative prospects for them in product diversification-related operations, resulting in soaring dryers' sales growth in Europe. According to Cross-Border Commerce Europe, by 2020, European online marketplaces will have generated massive consumer traffic and improved visitor engagement, resulting in purchases. Europeans spent a total of USD 165.8 billion on cross-border e-commerce.

KEY INDUSTRY PLAYERS

• Whirlpool
• Electrolux
• Haier
• Midea America Corp.
• Euromaid
• Frigidaire Home Products
• Indesit
• Miele
• Zanussi
• Voltas.Beko
• BSH Home Appliances Group
• LG Electronics
• SAMSUNG

KEY INDUSTRY DEVELOPMENTS:

October 2021- LG has launched dual inverter heat pump dryer which is equipped with Smart ThinQ features. It is available both online and offline stores.

SEGMENTATION

By Type

· Fully-Automatic

· Semi-Automatic

By Dryer Type

· Vented

· Condensed

· Heat Pump

By End-User

· Residential

· Commercial

By Distribution Channel

· Online

· Offline

By Region

· North America- U.S., Mexico, Canada

· Europe- UK, France, Germany, Italy

· Asia-Pacific- China, Japan, India

· Latin America- Brazil, Argentina, Colombia

· The Middle East and Africa- United Arab Emirates, Saudi Arabia