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Electric Iron Market Product Type (Dry, Steam) Usage (Residential, Commercial) Distribution (Offline, Online) : Global Opportunity Analysis and Industry Forecast, 2020-2027

A09418
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Aug 2021 | 598 Views
 
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An electric iron is anappliance used for ironingthe clothes and removing crease as well as preventing the spread of infectious disease through fabrics. It was invented by HenryW. Seely in 1882. The temperature of electric iron ranges from 230 to 428 Fahrenheit and is made up of plastic and metal body.In recent times, the requirement of the domesticelectric iron is increasing due to changing lifestyle and product choice inclination toward an alluring personality. The development of steam iron has presented expanded for customers rather than the use of traditional dry iron. Steam iron is incorporated with advanced features to make the clothes wrinkles free andautomatically adjust the temperature protecting the fiber of the clothes. The new product launch in the electric iron market have expanded the safety features of electric iron by incorporation of intelligent temperature control, steam boost technology, self-cleaning ability, fast heat-up system and others.

Market scope and structure analysis:

Report Metric

Details

  Market size available for years

 2020–2027

  Base year considered

 2019

  Forecast period

 2021–2027

  Forecast units

 Value ($US)

  Segments covered

 Product Type,,Usage,Distribution and Region

  Regions covered

North America (U.S. and Canada), Europe (Germany, UK, France, Italy, Spain and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and the Rest of Asia-Pacific), LAMEA (Middle East, Brazil, Mexico, and the Rest of LAMEA)

  Companies covered

Koninklijke Philips N.V., Bajaj Electricals Ltd., Usha Electricals Ltd., Panasonic Inc., Electrolux Home Products Inc., Tefal, Rowenta, Black+Decker Inc., Crompton Greaves, Havells India Ltd., Pigeon Corporation and TTK Prestige Limited.

 

COVID-19 ScenarioAnalysis:

Due to the COVID-19 pandemic,the demand and sales of electricironhave reduced and the customers are more inclined towards purchasing essential commodities. The challenges faced by the industry due to the lockdown scenario such as declining production, the shutdown of manufacturing plants, travel restrictions, export and import restrictions, shortage of manpower, and hampered supply chain, has impacted the sales and revenue of the electric iron market.The key manufactures have also faced restraints in delivering the products through online platforms due to disruption in the domestic supply chain.

Top Impacting Factors:Market Scenario Analysis, Trends, Drivers andImpact Analysis

The demand for electric iron is increasing rapidly due to its regular household requirement. The new product launch and incorporation of advanced features in the electric ironsuch as spray function, non-stick plate, and automatic temperature regulation have led to the increasing demand among the corporates. The changing lifestyle, competing for social status, increasing disposable income, tech-savvy millennial, and Z generation are the main factors driving the growth of the electric iron market. The highly-priced electric iron, the complexity of designs and the availability of alternative products hinder the market growth.

Development of advanced electric iron

An electric iron is manufactured and used for commercial as well as residential services. The demand for commercial electric iron has increased due to the rapid surge in high-quality laundry services, the growing hospitality industry, the advanced fashion industry, and others.The small scale dressmakers, fashion designers, tailors, andboutiques also contribute tothe commercial segment of the electric iron market.

The availability of variants in electric iron at several price rangespresents the opportunity forthe customers to purchase electric iron according to their requirements. Theelectric iron market is flourishingdue to the increasing demand for new featured automatic electric iron as a daily necessity in the households.The key manufacturers are inclined towards new product development to increase the convenience of the product and enhance the customer experience. The variants of electric iron have different wattage, nonstick soleplate bottom, scratch-resistant properties, steam vents, steam blast, vertical steaming, variable steaming, temperature control, the self-cleaning feature, anti-calcium, anti-drip, spray mist, a water tank, and other advanced features. The expanding distribution channels such as specialty stores and e-commerce are the major factors for the growth of the electric iron market. The e-commerce platforms are providing better guarantee and warranty services, discounts and offers, multiple payment options, and home delivery privileges which have provided convenience to the customers.  The lightweight, easy to carry, chargeable and portable sized electric ironhas provided the feasible option of ironing while traveling.

Key Segments Covered:

Segments

Sub-segments

  Product Type

  • Dry
  • Steam

  Usage

  • Residential
  • Commercial

  Distribution

  • Offline
  • Online

 

Key Benefits of the Report:

  • This study presents the analytical depiction of the electric iron marketalong 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 electric iron marketshare.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the electric iron marketgrowth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed electric iron marketanalysis based on competitive intensity and how the competition will take shape in coming years.

Questions Answered in the Electric Iron MarketReport:

  • What are the leading market players active in the electric iron market?
  • What the 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?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

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With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
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Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
 
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