Vendors to introduce features such as covetable wings, dual voltage, and compact non-stick soleplates in travel irons
Technavio, a company that develops over 2000 pieces of research every year and covers more than 500 technologies across 80 countries, has announced the top five leading vendors for the global travel irons market in their latest research report. This report also lists 9 other prominent vendors who are expected to contribute to this market’s growth between 2016-2020.
To identify the top vendors, Technavio’s market research analysts have taken into account the revenue generated through the sales of travel irons to travelers.
This Technavio report, under general retail goods and services vertical, is based on the synthesis, analysis, and interpretation of information about the global travel irons market collected from specialized sources. The analysts have derived insights using a mix of primary and secondary research with an aim to provide a holistic picture of the market.
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Competitive vendor landscape
The global travel irons market is moderately competitive and comprises several leading conventional iron brands who offer a wide variety of models. These major players compete on the basis of quality, technology, and pricing. To survive themselves in the intensely competitive scenario, it is crucial for vendors to differentiate their product offerings and focus on constant product innovations equipped with latest technologies. Players are contending on a variety of features and designs like retractable chords, minimal water drip, and other steam features. Moreover, the small domestic appliances vendors in the market are providing low-price options to compete against other players in the market. The growing demand for various temperature setting, dual voltage, and cordless travel irons is spurring the market’s growth globally.
“The market is witnessing the growing prevalence of omni channel retailing, where vendors are ensuring the maximum visibility of products. Omni-channel retailing uses a mix of distribution channels like retail stores and online stores for improving customer engagement. Leading players like Koninklijke Philips and Sunbeam Products are focusing on omni channel retailing for selling their products. Moreover, with the growth in e-commerce, several brands are making their products abailable online and are also offering personalized and customized solutions to the customers,” says Poonam S, a lead analyst at Technavio for research on general retail goods and services.
Top five vendors in the travel irons market space
Conair
Conair develops, manufactures, and markets personal grooming, bath and spa, hair care, health and wellness, garment and home care, oral care, and travel products. It serves customers through its online retailers and online stores in the US, Mexico, Spain, and Brazil. The company has distribution centers across Phoenix, Arizona and East Windsor, New Jersey, and the US. Conair has an appliance manufacturing plant in Costa Rica and has subsidiaries in Canada and Hong Kong. It also has marketing offices and distribution centers in the UK, France, Germany, Pacific Rim, Canada, and Mexico. The company manufactures and distributes private label appliances to retail chains. The strong manufacturing capacity and distribution network enable the company to increase its market presence across the globe.
Koninklijke Philips
Koninklijke Philips deals engages in healthcare, consumer lifestyle, and lighting businesses worldwide. In FY2015, the company generated a revenue worth $27 billion and revenue of more than $3 billion through its domestic appliances category. It has 95 production sites in 25 countries and operates sales and service outlets across 100 countries. The company is entering into new agreements and contracts, which will formulate ample growth opportunities by strengthening its revenue sources. In April 2015, the company entered into a partnership agreement with Al-Araby Group for the launch of its first steam iron production line in Egypt.
NACCO Industries
NACCO Industries deals in small appliances, specialty retail, and mining businesses. The company operates around 229 retail stores in the US. And generated revenues of around $916 million in FY2015. NACCO Industries provides diversified products that help in improving its brand value. It offers premium household appliances under the Hamilton Beach brand and low-priced appliances under the Proctor Silex brand. The company has also licensed the Jamba brand for its line of blenders and juicing products. Such diversified brand portfolio helps the company to enhance its brand value among customers.
Panasonic
Panasonic manufactures and distributes electronic and electric products in Japan and globally. The company offers various business solutions such as communication solutions, document and imaging solutions, security systems, IT solutions, terminal solutions, and recording media. Its major operations are located in North America, Latin America, EMEA, China, and Oceania, and it generated a revenue of around $63 billion in FY2016. Panasonic deals with various products sells them through dealers and distributors across the world. It also sells its products through e-commerce websites. Such diversified distribution channels enable the company to enhance its position in the global market.
Rowenta
Rowenta manufactures and sells electrical home appliances. It offers products like steam irons, steam brush and compact irons, sewing and crafting irons, steam stations, and garment steamers, vacuum cleaners, beauty appliances, and steam generators. He company sells products through retail shops and has several service centers across Europe, Asia, and America. Rowenta operates as a subsidiary of Groupe SEB, which sells its products in 150 countries. Through its parent company, Rowenta can gain low outsourcing costs and acquire assets to extend its business operations. Such initiatives will aid in increasing the share of the company in the global market.
Other prominent vendors in the market include Bharat Light Machine, Fabiano, Korjo, Morphy Richards, Russell Hobbs, Smartek USA, Swan Brand, Usha, and Wilko Retail.
A more detailed analysis is available in the Technavio report, Global Travel Irons Market 2016-2020. Technavio also customizes reports by other regions and specific segments upon request.
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