Global Tumble Dryer Market Outlook
The global home appliances market is experiencing steady growth at a CAGR of 2.6% at a CAGR of 2.6%. Reasons for the growth are growing middle-class economy, improved disposable income levels in developing countries, increase in labor costs, busy lifestyles and the availability of a range of home appliances at competitive prices. With the boom of digitalization, consumers have become tech-savvy and have strong knowledge regarding the use and benefits of all modern appliances. Since 2012, number of smart appliances introduced in the market has increased. Having smart appliances at home has become the trend and status symbol for the consumers. The emergence of smart homes is helping the creation of being connected to the end-user’s smartphone and monitored remotely. Tumble Dryer is a very popular product in home appliances market and usage in different countries are increasing.
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Global Tumble Dryer Market: Reasons for Covering this Title
Tumble Dryer is very popular product in the market and the growing need for energy-efficient electric dryers is one of the primary reasons for the growth prospects of dryer market. In recent years, consumers are opting for energy saving dryers that can help them to prevent energy wastage and save money on utility bills and this is leading the manufacturers to introduce many energy-efficient dryers in the market. There are few feature that allows warm air to pass directly through the load and speeds up the drying process which significantly reduces energy usage. There are modern energy-efficient dryers that comes with moisture sensor bars that measure the dampness level of the load, which prevents over-drying and energy wastage. Moreover, government authorities are offering rebates on ENERGY STAR certified tumble dryers, which is leading to increase in adoption over the next few years.
Global Tumble Dryers Market: Key Players
Some of the key players operating in the global Tumble Dryers market are Alliance, American Dryer, Pellerin Milnor, Miele Professional, Electrolux Professional, Maytag, Dexter Laundry, GIRBAU, Schulthess, Renzacci, Haier, Samsung, LG, Danube, ASKO and Whirlpool among others.
Tumble Dryers Market: Key Trends
- Manufacturers are strategizing on energy saving technologies where they are coming up with new technology called Heat Pump Tumble Dryer
- The trend towards condenser dryers is continuing with the rise in sales rising. As they are more convenient to install than vented and consumers are more likely to adopt and buy
- Modern electric dryers offer innovative features that can change the future of the appliance in the market. Players such as LG and Whirlpool are offering features which help the consumer monitor and control the machine with their smartphones
Tumble Dryers Market: Key Developments
- In 2016, total sales of home appliances is up by 9% to with widespread promotional activity of all categories. Tumble dryers has recorded the greatest percentage uplift over the year and value sales improved by 12%
- In 2016, Whirlpool came up with the washer dryer set with ultra-noise reduction technology
Opportunities for Tumble Dryers Market Participants
Over the past couple of years, industrialization has been surging at a significant rate in various parts of the world specifically in the Asia Pacific region. Consumers are more attracted towards new technologies and western culture and due to which there is lot of opportunity for the manufacturers to bring in the change. They are keen in saving electricity. This one critical factor paves a critical opportunity for Tumble Dryer Market to gain traction among its target segment over the forecast period.
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Brief Approach to Research for Tumble Dryers Market
FMI will follow a modeling-based approach and triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the nature and formats covered in the study is followed by carrying out a demand-side approach to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level, consolidated and synthesized at a global level to estimate the overall Tumble Dryer Market sizes.