Electric dryers: Key market research findings
- North America dominates the market geographically
- Increased preference for vented dryers in North American countries
- Key vendors – Electrolux, GE, Whirlpool, LG, and Samsung
Technavio’s market research analysts predict the global electric dryers market to grow at a CAGR of around 4% between 2016 and 2020. The growth of this market is fueled by the unfavourable climatic conditions in cold countries. Colder climatic conditions in developed regions like North America and Europe are increasing the use of cloth dryers within these regions. The cold climate does not allow people to hang their laundry outside to dry and has increased the demand for cloth dryers. The heating requirements are greater during winter and people do not prefer to use clothes lines in winter. During 2015, the global electric dryers market was dominated by North America by accounting for around 45% of the overall market share. The market’s growth in this region is likely to be fueled by the product innovations.
The new market research report from Technavio presents a breakdown and analysis of the electric dryers segments based on the circulating air type.
“Consumers are increasingly concentrating on how much load the dryer can handle at a time. Since people do not have the time to wash and dry clothes on a daily basis, or run multiple loads, they want appliances that are capable of handling big loads. So, players like GE are manufacturing electric dryers with the ability to handle big laundry loads. Also, these large capacity electric dryers are capable of pulling moisture from clothes quickly, and are equipped with large number of cycles to handle specific garment and fabric types,” says Brijesh Kumar Choubey, Lead Analyst, Consumer & Retail, Technavio Research.
Vented dryers are mostly used in North American countries like the US as most Americans who have laundry machines in their home already have an outside vent installed. These dryers are more affordable and energy-efficient as compared to the conventional condenser dryers. This is mainly because these vented dryers don’t have to split the water from the air internally. They merely let the warm, damp air out of the hose pipe, which leads to the saving of electricity. But these dryers have to be placed near a door, window or an exterior wall so that the exhaust can be vented outdoors, which often becomes difficult in cities or apartments.
The key vendors in the global electric dryers market include Electrolux, GE, Whirlpool, LG, and Samsung. Companies are competing on the basis of quality, technology, and pricing. The innovation in technology and products among the leading vendors plays a significant role in the growth of the market. Increased competition is leading to increased consolidation. Moreover, there is an influx of private labels in the market. Therefore, to survive and succeed in this intensely competitive environment, it is important for vendors to distinguish their product and service offerings through a clear and unique value proposition.
A more detailed analysis is available in the Technavio report, Global Electric Dryers Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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