Garments Steamer Market Future Forecast Indicates Impressive Growth Rate
Posted: Sep 07, 2019
The global garments steamer market size is expected to reach USD 3.36 billion by 2025 registering a CAGR of 5.41%, according to a new report by Grand View Research, Inc. The impact of e-commerce channels, rising number of convenience and specialty stores, and demand for efficient appliances provide huge growth opportunities for the market. Increased spending on the advanced consumer appliances, especially in garment care sector, is also estimated to drive the market. Moreover, high demand for fabric care products in Asia Pacific region along with rise in sales of multi-functional products used in the industry is likely to support market development.
A number of leading manufacturers and distributors are entering the industry due to rising demand as a result of higher product efficiency and reliability than flat irons. This is also anticipated to contribute to the market growth. The Asia Pacific market is anticipated to witness the fastest CAGR from 2019 to 2025 due to the advent of innovative products along with high demand for advanced home appliances. Growing consumer awareness about multi-functional products will also fuel the product demand in the region.
Key companies are focusing on product developments and capacity expansion through acquisitions and M&A to increase their market share, which, in turn, will support the market growth. For instance, in March 2019, Rowenta launched new IXEO steamer with an advanced ergonomic design for home applications. Some of the leading companies include Haier Group Corp., Koninklijke Philips N.V, Rowenta, Chigo, Midea Group Co. Ltd., Conair, Jiffy Steamer, AB Electrolux, Panasonic Marketing Middle East & Africa FZE, Shanghai Flyco Electrical Appliance Co. Ltd, and Pursteam.
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Further key findings from the study suggest:
In terms of revenue, clothes application segment is projected to lead the global market over the forecast period
Offline distribution channel was the dominant segment in 2018 and will retain its leading position throughout the forecast years
Europe was the dominant regional garments steamer market in 2018. However, Asia Pacific will register the fastest CAGR from 2019 to 2025 due to increasing disposable income levels in emerging countries like India and China
The industry is highly competitive in nature. Some of the prominent companies include Haier Group Corporation, Koninklijke Philips N.V, Rowenta, Chigo, Midea Group Co., Ltd., Conair, Jiffy Steamer, AB Electrolux
These companies are focusing on capacity expansion and technological and product innovation to estimate existing and future demand patterns from upcoming product segments to gain competitive edge
Grand View Research has segmented the global garments steamer market on the basis of application, distribution channel, and region:
Garment Steamer Application Outlook (Revenue, USD Million, 2015 - 2025)
Garment Steamer Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting