Demand for Garments Steamer and Impact of COVID-19……..
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.
Covid 19's rapid development worldwide has led
to serious implications for most suppliers of electronics and electrical
products, in the form of supply chain disruptions. While the pandemic crisis
has decreased the frequency of purchase of consumer appliances, the lead time
for delivery of orders has also increased significantly. Limited availability
of components, restricted labor supply, and other supply chain related costs
are some of the major challenges that most industry players are focusing on at
present. The end of the lockdown is expected to bring this industry significantly
higher consumer traffic, most notably through the online channels, and the
manufacturers will need to design their production plans and distribution
networks in tandem with this changing business environment. Our team is
diligently working towards accounting these factors in our report with the aim
of providing you with the up-to-date, actionable market information and
projections.
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
The
global garments steamer market size was valued at USD 2.32 billion in 2018. The
market is estimated to expand at a CAGR of 5.41% from 2019 to 2025. 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,
higher efficiency, portability, flexibility, and ease of use offered by
steamers than flat irons boosts their demand in the global market. Furthermore,
rise in number of promotional campaigns by manufacturers helps in driving the
growth. For instance, in January 2019, Philips had a promotional campaign for its
newly launched garment steamer in market to make people aware about the
convenience of using garment care appliances.
In
addition, rising number of companies entering the market due to rising demand
for advanced products will support the market expansion. Moreover, the market
growth is also driven by the product penetration in laundry care sector. The
product is also used in carpets market as it can remove dust and dirt while
maintaining the fabric quality. 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.
Browse Press
Release of this report:
Grand View Research has segmented the
global garments steamer market on the basis of application, distribution
channel:
Garment Steamer Application Outlook (Revenue, USD
Million, 2015 - 2025)
·
Clothes
·
Curtains
·
Carpets
·
Others
Garment Steamer Distribution Channel Outlook (Revenue,
USD Million, 2015 - 2025)
·
Online
·
Offline
Clothes application segment
accounted for the largest garments steamer market share of more than 50% in
2018. Garment steamers offer advanced features, such as dust and oil removal
capability, which drives their demand in clothes application. Curtain type
application segment is anticipated to witness the fastest CAGR of 6.89% from 2019
to 2025. Curtains generally have large surface area tending to faster dirt
absorbing capacity. Hence, people prefer advanced technology, which can clean
the curtains with minimum effort. Garment steamer is one of the best suitable
products for such applications. Thus, the product witnesses huge demand from
different application areas like restaurants, hotels, celebration halls, etc.
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.
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