Electric Dryers Market Analysis, Opportunities & Trends 2031

Report Description

The global electrical dryer market size was valued at USD 13.1 Bn in 2022 and is likely to reach USD 20.8 Bn by 2031, expanding at a CAGR of 5.2% during 2023–2031. The market growth is attributed to the growing advanced technology in dryers including energy-efficient appliances and escalating electricity rates are propelling the market.

Electric dryer demand is growing due to rising technological developments to increase the sales of the product. Technological advancements in the electric dryer industry are driving increased sales by offering customers the use of numerous control functionalities. In addition, the anticipation of next-generation innovation in electric dryers is acting as a significant factor in the growth of the industry.

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Modern electric cloth dyers have undergone significant advancements and are equipped with such as steam refreshers, moisture sensors, and cloth-specific options. These features are conveniently operable through smartphones. These innovations aim to provide users with efficient and time-saving laundry solutions. Compared to traditional open-air drying customers appreciate the faster drying cycle provided by electric dryers which are not affected by bad weather conditions. These dryers are labeled with energy ratings from A to G, with A being the most energy-efficient. They provide a quick and hassle-free way to dry clothes and handle various types of fabrics from delicate items to heavy-duty materials, making them suitable for a wide range of laundry needs.

The introduction and advancements of electric dryers in the home appliance industry are growing as manufacturers continue to improve the energy efficiency of electric dryers, and these appliances become more appealing to environmentally-conscious consumers. Energy-efficient models help to reduce electricity consumption, resulting in cost savings for users and a reduced environmental impact. The competition among manufacturers to develop more efficient and feature-rich electric dryers drives product innovation. This innovation leads to the introduction of new technologies such as steam functions and smart capabilities which enhance the overall user experience, leading to opening new opportunities for key players for market expansion.

The COVID-19 pandemic restrained the electric dryers market as the government across the globe imposed an emergency lockdown to prevent the virus spread. This leads to causing disruption in the supply chain of electronics that are considered non-essential products. Restrictions on the import and export services of electric dryers. Supermarkets/hypermarkets, and specialty stores were closed, creating a gap in demand and supply.

Electrical Dryer Market Dynamics

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Major Drivers

Increasing disposable income, changing lifestyles, and growing consumer spending due to a rise in living standards are the primary factors that are likely to propel market expansion in the coming years.

Rising need for energy-efficient electric dryers to lower electricity use and save money on utility bills among consumers is boost the market. Electrical dryer consumes a significant amount of energy during the process of drying wet clothes. Energy-efficient electric dryers are designed to use less electricity compared to traditional models.

Energy-efficient electric dryers utilize advanced heating elements, improved energy-saving insulation, and more efficient air circulation systems to dry clothes faster and more effectively. These innovations reduce the time required for drying, resulting in lower energy consumption per load.

Existing Restraints

High Power consumption of electric dryers hinders the electrical dryer market. Electric dryers typically consume a substantial amount of electricity during their operation. High power consumption leads to increased energy costs for consumers. As electricity bills rise, consumers become conscious of their energy usage and look for alternatives that can help to save money in the long term. Additionally, the rising focus on energy efficiency standards and regulations may further impact the electric dryer market. Governments and regulatory bodies often impose energy efficiency requirements on electronic appliances to promote sustainable practices and reduce energy consumption.

Emerging Opportunities

Increasing manufacturing activities on developing more energy-efficient appliances creates lucrative opportunities for the market. Energy-efficient appliances include aspects such as drying speed, noise emission, and energy efficiency. Furthermore, the growing integration of the Internet of Things (IoT) enabled consumers to connect dryers with smartphones, laptops, and tablets. IoT describes the network of physical appliances embedded with software, sensor, and technologies to exchange data with other devices. Internet and remote access are important operations for collecting and transmitting data such factors create lucrative opportunities in the market.

• For instance, In April 2021, Beijing Tokyo Manufacturing Co. launches electric clothes drying rack that features UV sterilization. This smart clothes dryer comes equipped with a 14W lighting power lamp to lower the problems of excessive light-blocking during the drying process of clothes. This device comes with features like Positive Temperature Coefficient (PTC) heaters for sterilization and disinfection with a power rating of 1200W. Also, it has a portable remote controller feature that provides easy access to operate the device.

Scope of the Electrical Dryer Market Report

The market report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Electrical Dryer Market Segment Insights

Type Segment Analysis

Based on type, the electrical dryer market is divided into condenser dryer, spin dryer, and heat pump dryer. The condenser dryer segment is expected to expand at a significant growth rate during the projection period due to offering versatility and higher adaptability toward different fabrics. Condenser dryers offer greater flexibility in terms of installation location compared to other types of dryers.

They do not require an external vent or duct and can be placed in a variety of settings including apartments or rooms without proper ventilation. Condenser dryers are well-suitable for a wide variety of fabrics, including delicate item that requires gentle care. They offer precise temperature control and moisture sensing capabilities, reducing the risk of over-drying or damaging fabrics.

The heat pump dryer segment is expected to expand at a significant growth rate in the coming years due to the closed-loop system using heat exchangers. Heat pump dryers work by using a closed-loop system to recycle hot air rather than venting hot air outside like a regular dryer. This system tends to be gentler on drying clothes at a lower temperature using less energy.

• For instance, Electrolux Professionals is a global provider of laundry solutions that serves a wide range of customers worldwide. Their innovation in heat pump dryers is able to beat the energy crisis. Heat pump dryers have frequently delivered lower running prices compared to vented dryers powered by gas electricity which emit carbon dioxide into the atmosphere.

Energy cost is a major factor but modern heat pump dryers in Electrolux Professional’s Line 6000 series reduce temperature fluctuation compared to traditional mechanical valve regulation, which helps for better temperature control and rapid dewatering.

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End-user Segment Analysis

On the basis of end-user, the market is segregated into residential and commercial. The residential segment is projected to register a considerable CAGR during the forecast period owing to the rising demand for compact-sized laundry machines among household consumers. Furthermore, during rainy and winter seasons households prefer electrical dryers for laundry activities such factors significantly generate revenue for the residential segment.

The commercial segment is anticipated to gain significant revenue shares of the electrical dryer market due to increasing demand from commercial establishments and advancement in technology with efficiency. Growing commercial establishments, such as hotels, hospitals, and fitness centers, require high-capacity and efficient drying solutions to handle large volumes of laundry.

Electric dryers are favored in these settings because they are easy to install, and the necessary electrical infrastructure is usually available. Commercial electric dryers have seen advancements in technology, resulting in improved efficiency over time. Manufacturers have added features like stronger heat, quicker drying cycles, and improved programmability to meet the needs of businesses. These technological innovations enable faster turnover of laundry loads which boosts productivity and reduce operational cost.

Distribution Channel Segment Analysis

Based on the distribution channel, the electrical dryer market is segmented into supermarkets/hypermarkets, specialty stores, and e-commerce. The supermarkets/hypermarkets segment is expected to register a robust growth rate during the forecast period due to providing consumers with the physical experience to purchase electrical appliances. The retailers offer additional services for electrical products such as the installation of electric devices and extended warranties.

The e-commerce segment is anticipated to gain significant revenue shares in the electrical dryer market, due to the availability of product and price comparison, discounts and offers, and doorstep delivery of products. E-commerce refers to the online marketplace where consumers can purchase products and services directly from sellers through digital platforms. E-commerce platforms provide consumers with the ability to easily compare prices of products across different sellers or brands. They can quickly compare prices, features, and customer reviews, allowing them to choose the most cost-effective option that meets their needs.

E-commerce platforms often offer discounts, promotional deals, and special offers to attract customers. These can include seasonal sales, flash sales, and coupon codes. One of the key advantages of e-commerce is the convenience of doorstep delivery. Consumers can place orders from the comfort of their homes or offices and have the products delivered directly to their preferred location. This eliminates the need to physically visit stores, saving time and effort.

Regional Outlook

In terms of region, the global electrical dryer market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period due to the presence of major manufacturers and high disposable income.
The rising adoption of smart and connected appliances among consumers is expected to increase the product consumption rate in the region. The demand for new smart home appliances purchase such as Smart Home Technology Usage, Satisfaction, and Purchase Intent is growing in the region.

High disposable income in North America allows consumers to afford appliances such as electric dryers. Higher disposable income often leads to an upgraded lifestyle, where consumers seek convenience and time-saving solutions. Electrical dryers offer convenience by quickly drying clothes, reducing the time and effort required compared to traditional drying methods.

In this region, consumers can afford to use premium models that offer additional functionalities, such as steam drying, customizable settings, energy efficiency, and smart connectivity. Manufacturers often cater to this demand by introducing high-end models with new product launches in the market.

The market in Asia Pacific is projected to grow rapidly during the forecast period, owing to rising disposable income, rapid urbanization, changing lifestyles, and convenience. In Asia Pacific as income increases, consumers are willing to invest in appliances that enhance convenience and improve their quality of life.

Rapid urbanization in emerging economies such as China, India, and Japan led to smaller living spaces, especially in urban areas. In such settings, electrical dryers provide an efficient solution for drying clothes, as outdoor drying may not always be convenient. In changing lifestyles, there is an increasing emphasis on convenience. Electrical dryers offer the convenience of quick and efficient drying, allowing consumers to save time and effort compared to traditional methods such as outdoor line drying or using clothes racks.

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