An electric dryer has developed as an important home appliance. It includes a droplet and utilizes thermal air to dry clothing. With the aid of spiral wires, the air within an electric dryer is heated by an electric current. Compared with the clothes-line open-air drying, customers become aware of the quicker drying cycle for electric dryers. The drying out of clothing in the open air has a bad weather effect, whereas an electric dryer may still be used in awful weather. Electric dryers are marked with A to G energy labels, where G is the lowest rating of energy efficiency and A is the highest rating of energy efficiency. Customers who wish to buy consumer appliances are supplied with comfort by the e-commerce company. With the onset of the pandemic, the demand and sales have been marginally reduced due to restrictions in the commercial industry operational activities.
COVID-19 Impact Analysis
- The advent of the global pandemic, COVID-19, has affected the electric dryer market negatively. An electric dryer is used to dry clothes with its heat wave. During the ongoing pandemic, the electric dryer was not considered a necessary product. Therefore, the demand for an electric dryer has decreased during these times.
- As the COVID-19 pandemic has forced countries to enforce lockdown, the supply and distribution chain had disrupted. There was a restriction on the import and export of electric dryer as it was not an essential product. Hypermarkets/supermarkets and convenience stores were closed, creating a gap in demand and supply.
- The production process for new batches of electric dryers had become a challenge for companies due to the limited availability of labor, disrupted supply of raw material, and logistic issue.
Top Impacting Factors
- Consumers require energy-efficient electric dryers as the main drivers on the global electrical dryers market. Consumers are seeking energy-efficient dryers to minimize electricity use and to save bills money. Manufacturers aim to implement efficient electricity dryers to meet the increased need for efficient energy-saving devices with characteristics such as drying speed and energy economy as well as noise emissions. In addition, more attention will assist improve heat pump dryers by using less energy in the upcoming years.
- Expensive electricity consumption and high initial investment are the factors that hinder the growth of the market in electric dryers. To address this disadvantage, however, manufacturers have focused on technological advancements to get improved energy labeling. The latest generation of electric dryers is made up of intelligent features such as humidity sensors and LED interfaces through technological developments.
- As the world's population grows, urban growth develops, resources decline and electricity prices grow, many governments and NGOs promote energy-efficient equipment. The initiative to promote energy-efficient equipment has enabled users to invest in certified ENERGY STAR electric dryers, thereby lowering their total usage of power.
Next-gen innovation in electric dryer is expected to be a game-changer
The manufacturing company is aiming to introduce an electric dryer with technological development that is expected to increase the sales of an electric dryer. By use of numerous functionalities in the control settings of the electric dryer, customers may control the dryer cycle. The makers of electric dryers strive to increase the characteristics such as drying speed, energy efficiency, and noise emission. Some electric dryers include a function that uses steam to reduce wear and tear that may eliminate wrinkles and smells. The user may now examine the efficiency of the dryer with the advent of eco-monitors on the LCD panels.
The introduction of innovation such as Smartphone management and wrinkle reduction systems are crucial advances in the electric dryer sector. Manufacturers invest in technology to develop a method to prevent clothing from crumbling after a cycle. Some electric dryers have characteristics that eliminate discs and smells from steam.
Convenience is the most crucial factor for consumers.
Consumer rank’s convenience as the topmost priority while making buying decisions. Wireless or battery-operated electric dryers are proving to be the most convenient for consumers. The use of wireless electric dryers has changed since they are wireless and consumers use them from anywhere they wish to do so. The use of lithium-silicone batteries in the wireless electric dryer makes it a premium product because it offers hourly service for improved battery life.
Key Benefits of the Report
- This study presents the analytical depiction of the electric dryer industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the dryer market share.
- The current market is quantitatively analyzed to highlight the electric dryer market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed electric dryer market analysis on the basis of competitive intensity and how the competition will take shape in coming years
Questions Answered in the Report
- Who are the leading market players active in the electric dryer market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What future projections would help in taking further strategic steps?
Electric Dryer Market Report Highlights
By Distribution Channel
Key Market Players
General Electric Company, LG Electronics, Inc., Electrolux AB, Maytag Corporation, Samsung Electronics Co, Ltd., Haier Group Corporation, Whirlpool Corporation, Insignia Systems, Inc, Robert Bosch GmbH, Panasonic Corporation.