Gas Dryer Market Growth Forecast at 4.31% CAGR to 2020
PUNE, India, August 16, 2016 /PRNewswire/ --
The global gas dryer market 2016-2020 report says growing demand for energy star certified gas dryers will be a key trend for market growth. A dryer needs to be at least 20% more efficient than conventional dryers to get an Energy Star certification. In the US, the usage of certified dryers can help people save operating expenditure by nearly $1.6 billion each year. The certification would require the approval of an EPA-recognized third party. Energy Star certified gas dryers are gaining popularity among end-users as they are sustainable. The growing demand for Energy Star labeled gas dryers has encouraged key players like GE, Electrolux, and Whirlpool to venture into this category.
Complete report on gas dryer market spread across 63 pages, analyzing 5 major companies and providing 45 data exhibits now available at http://www.sandlerresearch.org/global-gas-dryer-market-2016-2020.html.
The analyst forecast global gas dryer market to grow at a CAGR of 4.31% during the period 2016-2020. According to the 2016 gas dryer market report, one of the key drivers for market growth will be rise in electricity prices in residential segment of developed countries. Dryers are considered to be one of the most expensive home appliances as they consume approximately 6% of total electricity usage in homes. The increase in electricity prices in the residential segment of various developed countries is a major concern among consumers and has led to the popularity of gas dryers over electric dryers. The operating cost of gas dryers is lower than electric dryers since gas dryers use gas burners to produce heat whereas electric dryers use heating coils.
The introduction of attractive add-on features coupled with innovations in the industry to deliver more energy efficient dryers promises excellent growth prospects for the gas dryer market in North America. North America was the market leader and is expected to hold more than 46% of the revenue market shares by 2020. Energy Star certifications will attract customers who do not want to compromise on energy efficiency and quality of their dryers. Also, vendors are experimenting with their offerings to introduce smart gas dryers, which will be Wi-Fi enabled and will notify the user about the progress of a load of clothes in a dryer.
The global gas dryer market is dominated by a few key players from the home appliances industry. The market is fairly concentrated with the top five players holding major shares in gas dryer market, and it is witnessing increased consolidation with the increase in competition. Due to the influx of private labels in the market, it has become imperative for the vendors to distinguish their products and service offerings through a clear and unique value proposition in an intensely competitive environment.
The following companies are the key players in the global gas dryer market: Electrolux, GE, LG Electronics, Samsung, and Whirlpool. Other prominent vendors in the market are: Alliance Laundry Systems, Crosslee, Rinnai, and Sears Holdings. Order a copy of Global Gas Dryer Market 2016-2020 report @ http://www.sandlerresearch.org/purchase?rname=58552.
Further, the gas dryer market report states that one of the challenges will be increasing investments in R&D and advertising. With improving economic conditions in Europe after the 2012 Sovereign Debt crisis, vendors in gas dryer market are increasingly investing in R&D. The market is experiencing the introduction of many innovative solutions. In addition, vendors are conducting R&D activities to devise methods, which help them reduce the cost of expansion, storage, and maintenance of inventory.
Another related report is Global Industrial Dryers Market 2016-2020, a key growth driver is increased stringency in safety standards and norms. Dryers are widely used in industries like cement, fertilizer, and waste and sludge management. Since dryers employ operations like heating, there is a significant possibility of fire or explosions during the process. Thus, ensuring the safety of personnel and reducing the possibility of explosions have long been areas of concern. Browse complete report @ http://www.sandlerresearch.org/global-industrial-dryers-market-2016-2020.html.
Explore other new reports on Semiconductor & Electronics Market @ http://www.sandlerresearch.org/market-research/semiconductor-electronics.
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