Laundry Dryer Market Size, Share, Trend & Growth Report 2031

Report Description

The global laundry dryer market size was valued at USD 16.9 Billion in 2022 and is expected to reach USD 26.2 Billion by 2031, expanding at a CAGR of 4.2% during the forecast period, 2023–2031. The growth of the market is attributed to the increasing demand for convenient and time-saving smart home appliances due to the rising busy lifestyle.

A laundry dryer is an appliance used to remove moisture from wet clothes, towels, and other fabric items using hot air. The laundry dryer is also known as a tumble dryer or clothes dryer. These dryers use gas or electricity as an energy source to heat the tumbler for quick drying of clothes. It is a convenient alternative to traditional methods of clothes drying under the sun which can take hours or even days to dry.

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Laundry dryers are available in different sizes and types, including electric and gas models, as well as automatic and manual models. They are used in a variety of settings, from homes and apartments to laundromats and hotels. The laundry dryer is a smart and efficient way to dry clothes without affecting garments fiber or color.

They are become an essential appliance in many households, particularly in regions where air drying clothes is not always practical or possible due to weather conditions or lack of outdoor space. Additionally, these laundry appliances offer several benefits, such as reducing wrinkles in clothes and helping to sanitize them by killing bacteria and other germs.

The COVID-19 pandemic affected the laundry dryer market. The implementation of lockdowns by governments disrupted global laundry-drying manufacturing due to labor shortages and a lack of raw materials.

Further, the pandemic also has also led to production and distribution delays due to the strict rules and regulations on transportation. On the other hand, the demand for laundry appliances including dryers has increased due to people trying to minimize contact with others and avoid public spaces. 

Laundry Dryer Market Dynamics

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Key Trends

The increasing demand for convenient and time-saving appliances is a key trend in the market. The rising need for quick and efficient ways to dry clothes propelling the laundry dryer market. Consumers are preferring laundry dryers due to their busy lifestyles and lack of outdoor spaces for clothes drying. 

Major Drivers

The rising disposable income and busy lifestyle are expected to drive the laundry dryer market during the projected period. As people’s purchasing power increases they are willing to spend more money on buying household appliances that can save them time and effort. Laundry dryers provide a convenient solution for busy individuals who do not have the time or free space to manually dry clothes.

Existing Restraints

The high cost required for replacing parts and repairing malfunctions is expected to hinder the laundry dryer market. These electric clothes dryers require regular maintenance for smooth work which is affecting their popularity among consumers. Further, the lack of skilled labor for customer services and components makes it difficult for manufacturers to provide affordable customer service. 

Emerging Opportunities

The addition of smart technologies and advances in manufacturing techniques have created favorable opportunities for players in the market. Manufacturers focus on producing eco-friendly and energy-efficient dryers to reduce the consumption of water and energy.

Further, the incorporation of smart technologies such as remotely using a dryer by a smartphone application, receiving alerts, and temperature control is a major growth opportunity in the market.

Scope of Laundry Dryer Market Report

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

Laundry Dryer Market Segment Insights

Product Type Segment Analysis

Based on the product type, the laundry dryer market is divided into fully-automatic, manual, and semi-automatic. The fully-automatic segment is expected to hold a major market share during the forecast period.

This segment growth is attributed to the wide range of features and large capacity of clothes handling due to the implementation of smart technologies in fully-automatic laundry dryers. These dryers consume less energy and water than manual or semi-automatic laundry dryers.

Technology Segment Analysis 

In terms of technology, the laundry dryer market is fragmented into vented, condensed & heat pump. The heat pump segment is anticipated to dominate the market during the projected period. This segment is driven by the energy efficiency of the heat pump dryers due to their closed-loop system to recycle the hot air. These dryers operate at low temperatures during the drying process and protect clothes from lint, burn marks, and color fading.

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End-users Segment Analysis

On the basis of the end-user, the laundry dryer market is bifurcated into residential and commercial. The residential segment is expected to register a robust growth rate during the forecast period.

The growth of the segment is attributed to the increasing demand for electric laundry dryers due to their time-saving convenience and reliability for clothes drying throughout all seasons. Residential laundry dryers are typically smaller in size and capacity compared to commercial dryers and are designed to meet the needs of individual households.

Distribution Channel Segment Analysis

Based on the distribution channel, the laundry dryer market is classified as offline and online. The offline segment is expected to dominate the market during the projected period. The immediate availability and personal assistance for people to know about the features and functions of dryers are driving the growth of this segment.

The offline stores offer physical inspection of the product before purchasing it and free installation services. Further, the wider range of payment options including cash, credit/debit cards, and financing is expected to propel this segment.

The online segment is projected to register a considerable CAGR in the coming years due to a wider selection of products compared with physical stores. Online channels provide home delivery for larger appliances including tumbler dryers, condenser dryers, or others that are convenient for customers. Additionally, consumers can see reviews and ratings to know valuable insights about products before they purchase.

Capacity Segment Analysis

In terms of capacity, the laundry dryer market is fragmented into upto 8kg, 8kg to 15kg, and above 15kg. The upto 8kg segment is anticipated to hold a substantial market share during the projected period. The decent amount of clothes loading capacity and suitability for space-efficient apartments or flats is driving the growth of this segment.

The 8kg capacity portable laundry dryer is generally affordable compared to larger models making it the best option for budget-conscious consumers. These dryers are easy to use and contain straightforward controls for a hassle-free drying experience for consumers.

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Heat Source Segment Analysis 

On the basis of the heat source, the laundry dryer market is divided into gas and electric. The electric segment is expected to hold a major market share during the forecast period. The growth of this segment is attributed to the increasing demand for electric dryers due to convenience for homeowners to maintain and affordable to operate. These dryers use electricity to produce heat and do not produce emissions or fumes which makes them safer than gas dryers.

Regional Analysis

In terms of region, the global laundry dryer market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period. The market growth in this region is due to the extreme cold and humid weather which makes it difficult or impossible for clothes to air dry. 

The homes or apartments in this region are typically spacious compared to other regions which allow people to include laundry appliances. Asia Pacific is anticipated to expand at a rapid pace in the global market in the coming years.

The shortage of outdoor spacing due to the rapid development of infrastructure and fast pace urbanization is propelling the growth of the laundry dryers market. Increasing disposable income and the influence of Western culture are boosting the market in this region. The need for a convenient and efficient way to dry clothes, especially during the monsoon season is making energy-efficient laundry dryers a popular choice among customers.

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