Press release
Electric Iron Market is projected to reach $2.14 Billion by 2029: Cognitive Market Research
Electric Iron Market is projected to reach $2.14 Billion by 2029: Cognitive Market Research
- Iron is an electrical appliance used to remove wrinkles and ensure neat and clean pressed clothes. The advantages of clothing iron are that it helps in keeping the clothes hygienic, smell free, and it provides an elegant appearance. There is a higher demand for clothing iron due to increasing preference towards the use of clothing iron and higher demand or growing trend to look presentable.
Market Insights:
- As per Cognitive Market Research, Global Electric Iron Market was valued at $1.24 Billion in 2022 and is projected to reach $2.14 Billion by 2029 with a CAGR of 8.62% during the forecast period of 2023-2030.
"To know more about The Electric Iron Market statistics click here: https://www.cognitivemarketresearch.com/electric-iron-market-report
Market Dynamics:
• Increasing demand of stylish clothes from millennials:
Increasing demand among the millennials to look well-dressed is expected to promote the utility of iron products. Ironed clothes make one look smarter and leave a better impression. The use of ironing extends the life of the fabric over time as it prevents the clothes from fraying. Furthermore, it is much better than the alternative to dry cleaning, which uses the harmful chemical perchloroethylene. Ironing helps in removing the smell of bleach from the clothes.
A trend is gaining popularity among a band of professionals who like to inhale a refreshing touch of fashion into the serious business dressing. The trend permeates job-friendly attire to suit the brand's image. While some sectors certainly radiate authority like bank managers, lawyers, politicians, and for them power dressing is imperative. Wearing clothes that are the right fit, comfortable, and do not restrict movement is important.
Market Segmentation:
Type:
• Traditional Iron
• Steam Generator Iron
• Hanging Iron
Function:
• Automatic
• Non-automatic
Application:
- Demand of electric iron is higher from the residential sector as electric iron is an FMCG product since the 1880s. Thus, this is the common tool found in almost every household. Further, mounting disposable income and the working population have enhanced the use of electric iron at homes.
• Industrial
• Residential
Distribution Channel:
- In terms of distribution channel, the offline distribution channel segment held the largest market share across the global market owing to a large number of consumers relying on electronic stores, supermarkets, and hypermarkets. Further, satisfaction from physical verification is high, and thus, offline dominates the market.
• Online
• Offline
Competitive Analysis of the Electric Iron Market:
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, TTK Prestige Limited, among others.
Get free sample pages of the latest published Electric Iron Market Report: https://www.cognitivemarketresearch.com/electric-iron-market-report#request_sample
Regional Analysis:
- Asia Pacific is anticipated to witness highest CAGR in electric iron market during the forecast period
North America held the highest market share of 32.15% in year 2021. This can be attributed owing to high spending capacity as well as high working population. Further, in U.S., Canada, and Mexico, there is 100% accessibility to electricity which automatically stimulate high purchase of electrical products.
However, during the forecast period, APAC is significantly growing at high CAGR owing to the rise in disposable income. Further, countries like India, China, and Japan have higher number of working populations. Working women population is also rising which induce high usage of electric iron. Moreover, fashion industry in these countries is booming which has stimulated high usage of electric iron at commercial places.
News
• July 2022, Electrolux re-enters Indian consumer durables market:
Swedish home appliance manufacturer Electrolux has re-entered the Indian market almost after four years and launched its "first experience centre" in the national capital. It has introduced a complete range of solutions for refrigeration, fabric care (washers and dryers), air purification and conditioning, dishwashing, cooking, and vacuum cleaner in a phased manner.
• January 2022, Rowenta and Tefal has launched raft of new products for 2022 to make cleaning easy:
With the Cube hygiene steamer from Tefal, the traditional "ironing room" can be set up spontaneously and with little effort anywhere in the home. With just one device, home textiles and items of clothing can be ironed, steam smoothed and disinfected. With just the power of hot, high-pressure steam, the Cube promises to eliminate up to 99.99% of bacteria, viruses and germs that can settle in all sorts of substances in the home. The Pro Express Vision steam ironing station from Tefal has an extra powerful steam output of up to 180 g/min, and is therefore ideal for cleaning any home textiles.
To know more about our Research Methodology click here: https://www.cognitivemarketresearch.com/research-methodology
Related Reports:
• Home Appliance Market - https://www.cognitivemarketresearch.com/home-appliance-market-report
• Electric Toys Market - https://www.cognitivemarketresearch.com/electric-toys-market-report
• Washing Machine Market - https://www.cognitivemarketresearch.com/washing-machine-market-report
• Electric Steamer Market - https://www.cognitivemarketresearch.com/electric-steamer-market-report
To read Cognitive Market Research Articles click here: https://www.cognitivemarketresearch.com/articles
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
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Illinois, 60602
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Website: https://www.cognitivemarketresearch.com/about-us
About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operating across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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