NEW YORK, Feb. 23, 2023 /PRNewswire/ -- Major players in the electric ironer manufacturing market are GE, Hamilton Beach, Joy Mangano, Kenmore, Electrolux, Haier, Flyco, LG, Applica, and Black and Decker.
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The global electric ironers market is expected to grow from $1.11 billion in 2021 to $1.25 billion in 2022 at a compound annual growth rate (CAGR) of 12.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The electric ironers manufacturing market is expected to reach $1.77 billion in 2026 at a CAGR of 9.1%.
The electric ironer market consists of sales of dry iron, steam iron, and garment steamer.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
An electric Ironer is a tool for leveling clothes and fabrics and uses power within a range of 300-1000W.
North America was the largest region in the ironers market in 2021. The regions covered in the electric ironers manufacturing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of electric ironers manufacturing market are dry iron, steam iron, and garment steamer.A dry iron has a soleplate that heats up and is pressed on the crumpled clothes to make them smoother.
The functions used are automatic and non-automatic.The distribution channels involved are offline and online.
The applications are residential and commercial.
Rapid Urbanization is expected to contribute to the growth of the ironers market in the forecast period. Globally, the percentage of the population living in urban areas is expected to increase from 56.2% in 2020 and reach 68% by 2050. The growth in the urban population coupled with the increasing demand among the millennials to look well-dressed, the rise in disposable incomes, and increasing affordability among residents of cities will drive the demand for ironers.
Increasing demand for online on-demand laundry services is expected to restrain the market for ironers in the forecast period.The on-demand laundry services market is expected to be aided by a stable economic growth forecast in many developed and developing countries.
The International Monetary Fund (IMF) predicts that the global real GDP growth will be 3.7% over 2019 and 2020 and 3.6% from 2021 to 2023. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. For instance, according to the World Bank, a US-based international financial institution, the growth of GDP in China amounted to approximately 8.1 percent in 2021. Stable economic growth, increasing internet penetration, and rising disposable income coupled with the hectic lifestyle of individuals will lead to an increase in on-demand laundry services, thereby limiting the growth of the market for ironers.
There has been a growing popularity of smart home ironers in the market.Smart home ironers are devices that are connected to other devices via the internet, and other technologies such as Bluetooth, near-field communication (NFC), and Wi-Fi.
The increased popularity of smart appliances can be attributed to the increased demand for smart homes, the rise in internet and smartphone penetration, and energy efficiency initiatives.The rise of the Internet of Things (IoT) technology also supports the development of smart appliances.
For instance, smart ironers contain an accelerometer chip installed in them which automatically switches off the iron by detecting the idle state. Bluetooth-enabled ironers can provide the users with the status of the iron such as temperature, power usage, etc. on their mobile phone and other Bluetooth-enabled devices.
The countries covered in the electric ironers manufacturing market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The electric ironers manufacturing market research report is one of a series of new reports that provides electric ironers manufacturing market statistics, including electric ironers manufacturing industry global market size, regional shares, competitors with electric ironers manufacturing market share, detailed electric ironers manufacturing market segments, market trends and opportunities, and any further data you may need to thrive in the electric ironers manufacturing industry. This electric ironers manufacturing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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