Global Electric Clothes Drying Rack Market By Installation Type (Freestanding and Ceiling-mounted), By Carrying Capacity (Below 10 kg, 10kg-15kg, 15kg-20kg, and Above 20kg), By Application (Indoor, and Outdoor) By End-User, By Sales Channel, By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032
- Published date: Oct 2023
- Report ID: 107032
- Number of Pages: 315
- Format:
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Quick Navigation
- Report Overview
- Introduction
- Key Takeaways:
- Driving Factors
- Restraining Factors
- Growth Opportunities
- Latest Trends
- By Installation Type Analysis
- By Carrying Capacity Analysis
- By Application Analysis
- By End-User Analysis
- By Sales Channel Analysis
- Global Electric Clothes Drying Rack Market Key Segmentation:
- Geopolitics and Recession Impact Analysis
- Regional Analysis
- Market Share & Key Players Analysis
- Report Scope:
Report Overview
The Global Electric Clothes Drying Rack Market size is expected to be worth around USD 2.00 Billion by 2032, From USD 1.3 Billion by 2023, with growth at a CAGR of 5.50% during the forecast period from 2023 to 2032.
Global electric clothes drying rack market for electric-powered clothes drying racks on a worldwide scale.
Introduction
A clothes drying rack is a device used to dry clothes indoors, especially in places where hanging clothes outside is not practical or feasible. Traditional drying racks are typically made of wood or metal and do not require electricity. However, in recent years, there has been an emergence of electric clothes drying racks that utilize electric power to facilitate the drying process.
Actual Numbers Might Vary in the Final Report
Key Takeaways:
- In 2022, the global electric clothes drying rack market was valued at US$ 1.2 Billion.
- By installation type, the freestanding held a major market share of 58% in 2022.
- By end-user, the residential held a major market share of 68%.
- By application, the indoor segment held the largest share of the market.
- In 2022, North America dominated the market with the highest revenue share of 38%.
- One of the most significant driving forces in the electric clothes drying rack market is energy efficiency and eco-friendly solutions.
- The lack of awareness and familiarity with electric drying racks can hamper the revenue growth of this target market to a certain extent.
- Key players include Panasonic, HOTATA, and Coleman, and others.
Driving Factors
Energy Efficiency and Ecofriendly Solutions
The global electric clothes drying rack market has been driven by key factors. First and foremost, the rising awareness of energy efficiency and eco-friendly solutions has led consumers to seek alternatives to traditional tumble dryers.
Electric clothes drying racks offer a more sustainable option for drying clothes indoors, minimizing energy consumption and carbon footprint. Additionally, the trend of urbanization and the shrinking living spaces in many cities have made outdoor clotheslines impractical, creating a demand for efficient indoor drying solutions.
Furthermore, technological advancements have improved the performance and functionality of electric drying racks, making them more appealing to consumers. With adjustable temperature settings, timers, and sensors, these racks offer greater convenience and optimized drying efficiency. As a result of these driving factors, the global electric clothes drying rack market is expected to witness significant growth in the coming years.
Restraining Factors
The Lack of Awareness and Familiarity with Electric Drying Racks in Markets
Despite the promising growth prospects, the global electric clothes drying rack market faces some restraining factors. One of the main challenges is the initial cost of electric drying racks, which can be higher than traditional drying methods like outdoor clotheslines or non-electric drying racks. This price barrier may deter price-sensitive consumers from adopting the technology.
Additionally, the availability of reliable electricity supply in some regions can hinder the widespread adoption of electric clothes drying racks. In areas with frequent power outages or limited access to electricity, consumers may prefer more traditional and less electricity-dependent drying methods. Moreover, the lack of awareness and familiarity with electric drying racks in certain markets may slow down market penetration.
Educating consumers about the benefits and features of these appliances is crucial to overcoming this obstacle. Lastly, while electric drying racks are more energy-efficient compared to tumble dryers, they still consume electricity, and concerns about their environmental impact may arise in regions with high reliance on fossil fuels for electricity generation. Defining these restraining factors will be essential to unlock the full potential of the global electric clothes-drying rack market.
Growth Opportunities
The market for electric clothes drying racks presents promising growth opportunities driven by different factors. Firstly, the increasing global focus on sustainability and energy efficiency has encouraged consumers to seek eco-friendly alternatives to traditional dryers. Electric clothes drying racks offer a greener and more energy-efficient solution, positioning them favorably in the market.
Secondly, the rapid urbanization and increasing population in urban areas have led to a surge in apartment living and smaller homes with limited outdoor space. As a result, the demand for indoor laundry solutions, including electric drying racks, has grown substantially.
Additionally, the availability of innovative features, such as smart technology, adjustable settings, and sensor-based drying, enhances the product’s appeal to tech-savvy consumers seeking modern and convenient laundry solutions. Furthermore, producer’s continuous efforts to improve product design, durability, and efficiency contribute to enhancing customer satisfaction and brand loyalty. The rising popularity of online retailing and the expanding reach of e-commerce platforms provide an excellent avenue for reaching a wider consumer base both domestically and internationally.
Latest Trends
Manufacturers are increasingly incorporating smart technology features into electric clothes drying racks. These features may include Wi-Fi connectivity, smartphone app control, and compatibility with virtual assistants like Alexa or Google Assistant. Smart drying racks enable users to monitor and control the drying process remotely, providing greater convenience and efficiency.
With growing environmental concerns, consumers are seeking energy-efficient and sustainable solutions. Electric drying racks with advanced energy-saving features, such as heat pump technology and low-power consumption modes, are gaining popularity. Sustainable materials and manufacturing processes are also becoming essential considerations for environmentally-conscious consumers.
To maximize utility and space usage, manufacturers are designing electric clothes drying racks with multi-functional capabilities. These racks may serve as clothing organizers, shoe racks, or even room dividers, offering added value and versatility to consumers. Consumers are seeking drying racks with customizable drying modes to cater to different fabric types and drying preferences. Adjustable temperature settings and drying times provide users with greater control over the drying process.
By Installation Type Analysis
Freestanding Installation Type is Expected to Dominate This Market
Based on installation type, the market for electric clothes drying racks is classified into freestanding and ceiling-mounted. Freestanding Segment is dominating the market share with 58% of the market share. Owing to their unmatched convenience, flexibility, and ease of use.
Offering a hassle-free installation process, these racks can be effortlessly placed in different locations within homes, catering to the diverse needs of consumers. Their mobility allows users to adapt to changing living arrangements or preferences, making them a popular choice for urban dwellers and those with limited space.
Moreover, the lower cost of freestanding racks compared to ceiling-mounted alternatives makes them a more accessible option for a wide range of consumers, appealing to budget-conscious individuals.
By Carrying Capacity Analysis
10kg-15kg Carrying Capacity Dominate This Market
Based on carrying capacity, the market for electric clothes drying racks is classified into below 10 kg, 10 kg-15 kg, 15 kg-20 kg, and above 20kg. The 10kg-15kg carrying capacity segment has emerged as the dominant choice in the market for electric clothes drying racks owing to its versatile appeal and alignment with the laundry needs of a wide range of consumers.
This segment strikes an optimal balance between accommodating moderate-sized laundry loads while remaining practical for both smaller households and average-sized families. With an ability to handle a substantial amount of laundry, yet without being overly bulky, racks within this carrying capacity range are considered efficient and suitable for day-to-day laundry demands. Moreover, they cater well to price-conscious consumers, as electric drying racks in the 10kg-15kg capacity segment often offer a compelling combination of features and affordability.
By Application Analysis
Indoor Application is Expected to Dominate This Market
The indoor segment has dominated the market for electric clothes drying racks owing to a combination of practicality, convenience, and changing housing patterns. In urban areas, where a significant portion of the population resides, space constraints and limited outdoor areas for clothes drying have become commonplace. As a result, indoor electric drying racks offer a seamless solution for urban dwellers, allowing them to efficiently dry their clothes within the comfort of their homes.
Moreover, the unpredictable weather in many regions makes outdoor drying less reliable, further driving the preference for indoor options. The compact and versatile design of indoor electric racks makes them ideal for fitting into smaller living spaces like apartments, condos, or houses with limited outdoor areas.
By End-User Analysis
Residential End-User Dominate in This Market
The dominance of the residential segment in the market for electric clothes drying racks can be attributed to several compelling factors that cater directly to household needs. As a fundamental part of daily living, laundry demands within residential settings are consistent and widespread.
Electric clothes drying racks offer an efficient and space-saving solution, particularly in urban areas where outdoor space is limited. The convenience of indoor drying and the ability to control the drying process to suit different fabrics and weather conditions have resonated well with residential consumers.
Moreover, as environmental awareness grows, households are increasingly seeking energy-efficient alternatives to traditional dryers, further boosting the popularity of electric drying racks.
By Sales Channel Analysis
Online Sales Channel Dominate in This Market
The dominance of online sales channels in the market for electric clothes drying racks can be attributed to the transformative impact of digital technology on consumer behavior and retail practices. The convenience and accessibility offered by online shopping have revolutionized the way consumers browse and purchase products.
With just a few clicks, buyers can explore a vast selection of electric clothes drying racks from various brands and retailers, all from the comfort of their homes. This ease of access has resonated with a wide range of customers, particularly those with busy lifestyles or limited access to physical stores. Moreover, online platforms often present consumers with a diverse array of products, including different models, features, and price ranges, providing ample choices to suit individual preferences.
Global Electric Clothes Drying Rack Market Key Segmentation:
Based on the Installation Type
- Freestanding
- Ceiling-mounted
Based on Carrying Capacity
- Below 10 kg
- 10kg-15kg
- 15kg-20kg
- Above 20kg
Based on Application
- Indoor
- Outdoor
Based on End-User
- Residential
- Commercial
Based on the Sales Channel
- Online
- Offline
Geopolitics and Recession Impact Analysis
Geopolitical Impact:
Trade Relations: Geopolitical tensions and trade disputes between countries can affect the supply chain of electric drying rack manufacturers. Tariffs, trade restrictions, and import/export regulations can disrupt the flow of components and finished products, potentially leading to increased costs and supply chain disruptions.
Global Supply Chain: Electric drying racks often include electronic components and materials sourced from various countries. Geopolitical events, such as trade sanctions or export restrictions, can disrupt the supply chain, leading to delays in manufacturing and increased costs for businesses.
Market Expansion: Geopolitical stability or instability in different regions can impact market expansion strategies. Companies may need to adjust their global market presence based on geopolitical factors, potentially affecting their market share and profitability.
Resource Availability: Geopolitical tensions can affect the availability and pricing of key resources used in manufacturing, such as metals and plastics. This can impact production costs and, in turn, product pricing.
Recession Impact:
Consumer Spending: During economic recessions, consumer spending tends to decline. Electric clothes drying racks are considered discretionary items, and consumers may delay or reduce their purchases of such appliances during tough economic times.
Price Sensitivity: Recessions can make consumers more price-sensitive, leading them to seek more affordable options or postpone non-essential purchases. Manufacturers may need to adjust pricing strategies to remain competitive.
Reduced Construction and Housing: Economic downturns can lead to reduced construction and housing activity, which may impact the demand for electric drying racks, as these products are often used in homes and apartments.
Supply Chain Disruptions: Economic recessions can disrupt supply chains, impacting the availability of components and materials needed for manufacturing electric drying racks. This can lead to production delays and increased costs.
Market Consolidation: Recessions may lead to market consolidation as weaker players struggle to survive. Stronger companies with better financial stability may acquire or outcompete their rivals.
Regional Analysis
North America dominated the global market in terms of revenue share in 2022, with more than 38%. The region is expected to remain dominant throughout the forecast time. North America’s dominance in the electric clothes drying rack market can be attributed to several key factors.
Firstly, the region’s higher adoption of technological innovations and a strong affinity for energy-efficient and eco-friendly solutions have driven the demand for electric drying racks. North American consumers are increasingly conscious of their environmental impact, seeking greener alternatives to traditional dryers, which has bolstered the market for electric clothes drying racks.
Secondly, the prevalence of urban living and smaller living spaces in North America, particularly in cities and metropolitan areas, has led to a higher demand for indoor laundry solutions. Electric drying racks, with their space-saving and versatile features, cater well to the needs of urban dwellers, making them popular choices in the region.
Thirdly, the availability of a vast range of products and brands through various distribution channels, including online retail platforms, has contributed to market dominance. North American consumers have easy access to a diverse selection of electric drying racks, enabling them to choose products that align with their preferences and budget.
Key Regions and Countries Covered in this Report:
- North America
- The US
- Canada
- Europe
- Germany
- France
- The UK
- Spain
- Italy
- Russia & CIS
- Rest of Europe
- APAC
- China
- Japan
- South Korea
- India
- ASEAN
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- United Arab Emirates
The global electric clothes drying rack market is extremely dynamic. All major companies are trying to increase their market share. Panasonic, HOTATA, and Coleman are major market players across the globe.
Market Key Players:
- Xiaomi
- HOTATA
- Panasonic
- Micoe
- KUKA HOME
- L Best
- JLA Technology
- HOOEASY
- Contour
- Coleman
- Other Key Players
Report Scope:
Report Features Description Market Value (2022) US$ 1.2 Bn Forecast Revenue (2032) US$ 2.0 Bn CAGR (2023-2032) 5.5% Base Year for Estimation 2022 Historic Period 2016-2022 Forecast Period 2023-2032 Report Coverage Revenue Forecast, Market Dynamics, COVID-19 Impact, Competitive Landscape, Recent Developments Segments Covered By Installation Type-Freestanding, and Ceiling-mounted; By Carrying Capacity-Below 10 kg, 10kg-15kg, 15kg-20kg, and Above 20kg; By Application-Indoor, and Outdoor; By End-User-Residential, and Commercial; By Sales Channel-Online, and Offline Regional Analysis North America: The US and Canada; Europe: Germany, France, The UK, Italy, Spain, Russia & CIS, and the Rest of Europe; APAC: China, Japan, South Korea, India, ASEAN, and the Rest of APAC, Latin America: Brazil, Mexico, and Rest of Latin America, Middle East & Africa: GCC, South Africa, United Arab Emirates, and Rest of Middle East & Africa Competitive Landscape Xiaomi, HOTATA, Panasonic, Micoe, KUKA HOME, L Best, JLA Technology, HOOEASY, Contour, Coleman, and Other Key Players Customization Scope Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements. Purchase Options We have three licenses to opt for Single User License, Multi-User License (Up to 5 Users), Corporate Use License (Unlimited User and Printable PDF) Frequently Asked Questions (FAQ)
What is the Electric Clothes Drying Rack Market in the Year 2023?Electric Clothes Drying Rack Market size is expected to be USD 1.3 Billion by 2023, with a growing at a CAGR of 5.50%.
What is the Electric Clothes Drying Rack Market CAGR Estimated During the Forecast Period 2023-2032?Electric Clothes Drying Rack Market size is expected to grow at a CAGR of 5.50% during the forecast period from 2023 to 2032.
What is the Electric Clothes Drying Rack Market Size Estimated During the Forecast Period?The Global Electric Clothes Drying Rack Market size is expected to be worth around USD 2.00 Billion by 2032, during the forecast period.
Electric Clothes Drying Rack MarketPublished date: Oct 2023add_shopping_cartBuy Now get_appDownload Sample - Xiaomi
- HOTATA
- Panasonic Corporation Company Profile
- Micoe
- KUKA HOME
- L Best
- JLA Technology
- HOOEASY
- Contour
- Coleman
- Other Key Players
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