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Report
Cloth Drying Machine Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032
Market Report I 2024-09-09 I 120 Pages I Global Market Insights
The Global Cloth Drying Machine Market was valued at USD 14.2 billion in 2023 and is projected to grow at a CAGR of 5% from 2024 to 2032. In emerging markets, rising disposable incomes are fueling investments in convenience-oriented appliances, notably cloth dryers. While advanced technologies like heat pump systems and smart features enhance cloth drying machines, they also come with a premium price tag. This can deter cost-sensitive consumers, especially in price-sensitive emerging markets. More affordable traditional drying methods and basic models further dissuade some from opting for high-end, tech-savvy dryers. Conversely, in mature markets like North America and Europe, the growth rates are slower.
Technological advancements are significantly propelling market growth. Features like Wi-Fi and smartphone connectivity allow users to control and monitor their dryers remotely. This means consumers can start, stop, and adjust drying cycles from their phones, receive maintenance alerts, and even diagnose issues without a technician's help. The U.S. Department of Energy notes that smart appliances can cut energy consumption by up to 10%, making them especially appealing to tech-savvy consumers.
The overall industry is divided into type, capacity, technology, price range, end-use, distribution channel, and region.
The market is segmented by type into gas and electric. Dominating the market, the electric segment generated approximately USD 10.7 billion in 2023 and is projected to grow at a CAGR of 5.2% between 2024 and 2032. Thanks to technological advancements, electric cloth dryers now boast features like sensor drying, enhanced energy efficiency, and smart connectivity, greatly enhancing their performance and user experience.
Divided by technology, the cloth drying machine market segments into vented and condensed. The condensed segment, commanding about 59% of the total market share, is forecasted to grow at a CAGR of 5.4%. These condensed machines, which don't require external venting, are ideal for urban areas facing space constraints.
North America cloth drying machine market accounted for approximately 34.8% share in 2023 and is projected to grow at a CAGR of 5.2% through 2032. With higher disposable incomes, North American consumers are leaning towards premium home appliances, especially advanced cloth drying machines. As urbanization trends continue and apartment living becomes more common, there is a heightened demand for compact and efficient cloth drying machines, particularly in settings where traditional drying methods fall short.
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definitions
1.2 Base estimates & calculations
1.3 Forecast calculations
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 360 synopsis, 2021-2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.1.1 Factor affecting the value chain
3.1.2 Profit margin analysis
3.1.3 Disruptions
3.1.4 Future outlook
3.1.5 Manufacturers
3.1.6 Distributors
3.2 Supplier landscape
3.3 Profit margin analysis
3.4 Key news & initiatives
3.5 Regulatory landscape
3.6 Impact forces
3.6.1 Growth drivers
3.6.1.1 Increasing Disposable Income
3.6.1.2 Technological Advancements
3.6.1.3 Urbanization and Space Constraints
3.6.2 Industry pitfalls & challenges
3.6.2.1 High Initial Costs
3.6.2.2 Affordable Alternatives
3.7 Growth potential analysis
3.8 Porter's analysis
3.9 PESTEL analysis
3.10 Consumer Behavior Analysis
3.11 Technological Advancement Overview
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix
Chapter 5 Cloth Drying Machine Market Estimates & Forecast, By Type, 2021-2032 (USD Billion)
5.1 Key trends
5.2 Gas
5.3 Electric
Chapter 6 Cloth Drying Machine Market Estimates & Forecast, By Capacity, 2021-2032 (USD Billion)
6.1 Key trends
6.2 Upto 8 Kg
6.3 8 kg to 15 kg
6.4 Above 15 kg
Chapter 7 Cloth Drying Machine Market Estimates & Forecast, By Technology, 2021-2032 (USD Billion)
7.1 Key trends
7.2 Vented
7.3 Condensed
Chapter 8 Cloth Drying Machine Market Estimates & Forecast, By Price Range, 2021-2032 (USD Billion)
8.1 Key trends
8.2 Economy
8.3 Mid range
8.4 High/premium
Chapter 9 Cloth Drying Machine Market Estimates & Forecast, By End Use, 2021-2032 (USD Billion)
9.1 Key trends
9.2 Residential
9.3 Commercial
9.3.1 Hotels & restaurants
9.3.2 Healthcare facilities
9.3.3 Spas & wellness centers
9.3.4 Others (gyms, coin-operated laundries, etc.)
Chapter 10 Cloth Drying Machine Market Estimates & Forecast, By Distribution Channel, 2021-2032 (USD Billion)
10.1 Key trends
10.2 Online
10.3 Offline
Chapter 11 Cloth Drying Machine Market Estimates & Forecast, By Region, 2021-2032 (USD Billion)
11.1 Key trends
11.2 North America
11.2.1 U.S.
11.2.2 Canada
11.3 Europe
11.3.1 UK
11.3.2 Germany
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 Russia
11.3.7 Rest of Europe
11.4 Asia Pacific
11.4.1 China
11.4.2 India
11.4.3 Japan
11.4.4 South Korea
11.4.5 Australia
11.4.6 Rest of Asia Pacific
11.5 Latin America
11.5.1 Brazil
11.5.2 Mexico
11.5.3 Rest of Latin America
11.6 MEA
11.6.1 South Africa
11.6.2 Saudi Arabia
11.6.3 UAE
11.6.4 Rest of MEA
Chapter 12 Company Profiles
12.1 Arcelik Hitachi Home Appliances Sales (Singapore) Pte. Ltd.
12.2 BSH Home Appliances Group (Siemens)
12.3 BSH Home Appliances Ltd
12.4 ELECTROLUX AB
12.5 GE Appliances, a Haier company
12.6 Godrej Enterprises Group
12.7 Havells India Ltd.
12.8 LG Electronics
12.9 Maytag
12.10 Miele
12.11 Panasonic
12.12 SAMSUNG
12.13 Schulthess Maschinen AG
12.14 Whirlpool
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