Dryers Global Market Report 2024

The dryers market size has grown strongly in recent years. It will grow from $13.01 billion in 2023 to $14.25 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%.

The growth observed during the historical period can be attributed to several factors, including the impact of the industrial revolution, changes in lifestyles, the process of urbanization, and effective marketing and advertising strategies. These factors have played a significant role in driving the historical growth of electric dryers in households.

The dryers market size is expected to see strong growth in the next few years. It will grow to $19.83 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The anticipated growth in the forecast period can be attributed to various factors, including an emphasis on energy efficiency, the integration of smart and connected features in appliances, a focus on health and allergen control, the importance of customization and aesthetics, and the demand for compact and space-saving solutions. Prominent trends in the forecast period encompass the adoption of heat pump dryers for enhanced efficiency, the utilization of steam and wrinkle-release functions, the integration of sensor technology for improved performance, the use of sustainable materials in dryer construction, and a focus on quieter operation, which is increasingly valued by consumers. These trends are expected to drive growth in the electric dryer market.

The primary types of dryers include spin dryers, condenser dryers, heat pump dryers, mechanical steam compression dryers, solar clothes dryers, and other specialized variants. Ventilation methods for these dryers include vented dryers and ventless/condenser dryers. Spin dryers are low-energy appliances that employ centrifugal force to remove water from clothes. They are typically smaller than conventional clothes dryers and do not use heat for drying; instead, they rely on centrifugal force to accomplish this task. These dryers are distributed through a variety of channels, including specialty stores, company-owned stores, hypermarkets, supermarkets, and online sales platforms. They are used by both commercial and residential end-users for clothes drying needs.

The electric dryers market research report is one of a series of new reports that provides electric dryers market statistics, including electric dryers industry global market size, regional shares, competitors with an electric dryer market share, detailed electric dryers market segments, market trends and opportunities, and any further data you may need to thrive in the electric dryers industry. This electric dryers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Anticipated technological advancements are set to be a driving force behind the growth of the dryer market in the foreseeable future. The widespread availability of the internet and the pervasive use of smartphones have facilitated the development and adoption of technologically advanced appliances. As of April 2021, the global population of internet users exceeded 4.72 billion, with more than 330 million people accessing the internet, and approximately 48.2% of internet users utilizing mobile devices for web access. Furthermore, the increasing integration of the Internet of Things (IoT) has enabled consumers to connect with their dryers over the internet, allowing for remote control of essential functions through data collection and exchange. These technological advancements are expected to drive the growth of the dryer market in the forecast period.

The growth of the dryer market is expected to be fueled by the increasing purchasing power of consumers. Purchasing power signifies the value of a currency concerning the quantity of goods or services that a single unit of currency can obtain. Enhanced purchasing power equips individuals with greater ease in acquiring new dryers. For instance, data from the European Commission in February 2023 anticipates that the global middle-class or consumer class is poised to expand to 4.8 billion individuals by 2030, signifying a substantial increase of 1.3 billion individuals with greater purchasing power compared to the present scenario. Consequently, the rising purchasing power is expected to be a driving factor behind the growth of the dryer market.

The growth of the dryer market may face constraints due to the increasing demand for online on-demand laundry services. The on-demand laundry services market is anticipated to benefit from a stable economic growth outlook in both developed and developing countries. As per the International Monetary Fund (IMF), global real GDP growth was at 3.7% in 2019 and is expected to remain at 3.6% from 2021 to 2023. Furthermore, emerging markets are projected to maintain slightly higher growth rates compared to developed markets during the forecast period. For instance, China's GDP growth reached approximately 8.1% in 2021, according to the World Bank. Stable economic growth, higher internet penetration, increased disposable income, and the fast-paced lifestyles of individuals are expected to drive the growth of on-demand laundry services, potentially limiting the growth of the dryer market.

To mitigate environmental impact and promote energy savings for consumers, dryer manufacturers are increasingly producing energy-efficient products. The proliferation of energy-efficient appliances is influenced by strict government regulations governing electrical home appliances and technological advancements. Energy-efficient appliances are designed to complete their tasks using minimal energy. Presently, more than 80 countries have established standards and labels for energy-efficient appliances. In the United States, for instance, dryers certified under ENERGY STAR use 20% less energy than standard models.

Major companies in the dryer market are focusing on innovative technologies, such as the Dyson Airblade, a hand dryer solution. The Dyson Airblade hand dryers operate within a highly competitive market where companies continually introduce novel and creative products to meet the evolving needs of their customer base. For example, in March 2023, Central Marketing Group (CMG), a subsidiary of Thailand's Central Retail Corporation (CRC), launched the 'Dyson Airblade' hand dryer in Thailand, offering three variations: Dyson Airblade wash+dry, Dyson Airblade 9KJ, and Dyson Airblade V.

Major companies operating in the dryers market include Haier Electronics Group Co. Ltd., LG Electronics Inc., Samsung Electronics Co. Ltd., Robert Bosch GmbH, Koninklijke Philips N.V. (Royal Philips), Whirlpool Corporation, Panasonic Corporation, Groupe SEB, HAAN Corporation, Conair Corporation, Fridja Limited, CUORI ELECTRICAL APPLIANCES (Cuori), Electrolux AB, Jiffy Steamer Company LLC, Sears Holdings Corporation, Asko Appliances, Crosslee PLC, Midea Group Co. Ltd., Miele & Cie. KG, Smeg S.p.A., Gorenje Group, Amana (Amana Corporation), Frigidaire (Frigidaire International), Maytag Corporation, Indesit Company (now part of Whirlpool Corporation), Zanussi (Zanussi Group), Bosch (Robert Bosch GmbH), GE Appliances (General Electric Appliances), Kenmore (Kenmore Appliances), Speed Queen (Alliance Laundry Systems), Fisher & Paykel Appliances, Blomberg, Summit Appliance, Danby Appliances Inc., Avanti Products LLC, Panda (Panda Appliances), Magic Chef (MCA Corporation), Equator Advanced Appliances, EdgeStar, Hotpoint (Hotpoint Appliances), Hoover (Hoover Ltd.), Ariston (Ariston Thermo Group), Candy (Candy Group), Beko (Beko Elektronik A.S.), Hisense Group Co. Ltd., Toshiba Corporation

Asia-Pacific was the largest region in the dryers market in 2023. Western Europe was the second-largest region in the dryers market. The regions covered in the dryers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the dryers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The electric dryers market consists of sales of spin dryers, condenser dryers, heat pump dryers, mechanical steam compression dryers, solar clothes dryers, and other dryers. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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