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Electric Iron Market Size, Share, 2019-2025 | Industry Trends Report

Electric Iron Market Analysis Report By Function, By Product, By Application, By Distribution Channel And Segment Forecasts From 2019 To 2025

Report ID: MN17619485  |  Published: April 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Consumer Goods  |  Publisher: Grand View Research

Industry Insights

The global electric iron market size was estimated at USD 1.0 billion in 2018. The market is expected to witness a CAGR of 8.3%, from 2019 to 2025. This growth can be attributed to rising awareness among the working population to look presentable at workplaces and other occasions. Moreover, ironed set of clothes is being considered as a symbol of good status in society. Ironed clothes give a professional look to the individual. Moreover, it prevents the cloth from fraying thereby increasing the fabric life. This ironing process is also better than dry cleaning which uses harmful chemicals like perchloroethylene. Moreover, it also reduces the odor of bleach from the clothes. Thus, the market for irons is expected to boost during the forecast period, 2019 to 2025.

us-electric-iron-market

Rising number of students in schools and colleges across developing countries like China, India, and Pakistan is also anticipated to boost the product demand for ironing the clothes instantly owing to strict rules for wearing uniforms. The working population also prefers the usage of iron clothes, especially for client meetings and presentations.

Most of these users of ironed clothes heavily rely on the providers of laundry services. Thus, rising popularity of such services owing to features like doorstep delivery, ease of availability and affordable pricing is anticipated to boost the market growth for electric irons in the upcoming years.

Product Insights

In 2018, the dry electric iron segment held the largest market share of over 50% across the global market. This can be attributed to features like lightweight and compact size. In addition, less maintenance is required for such appliances making them popular among the consumers across the globe.  

The segment of a steam electric iron is expected to witness the highest CAGR of 8.5% during the forecasted years, 2019 to 2025. This can be attributed to automatic steam production process which simplifies its usage. It can also be used for steaming clothes. Furthermore, manufacturers of clothes stated that stem iron is better than dry iron, thus, gaining high popularity among the consumers across the globe. Thus, many manufacturers have started launching only steam irons across their product portfolio.

Application Insights

In 2018, the commercial application segment of electric iron held the largest market share of 55.4% across the global market. This can be attributed to rising number of laundry services and tailors. As the trend for ironing the newly stitched clothes to improve their aesthetics is being followed by the tailors, the market is expected to surge up in the upcoming years. Additionally, the usage of large steam iron is popular among the providers of laundry services.

The residential application segment is expected to register the highest CAGR of 8.5% during the forecasted years, 2019 to 2025. This can be attributed to increasing disposable income among the working population coupled with willingness to spend on the purchase of such appliances. Moreover, rising issues regarding late pickup and delivery of clothes by the laundry service providers are influencing consumers to purchase the product instead of depending on them. .

Distribution Channel Insights

In 2018, the offline distribution channel segment held the largest market share of 70.6% across the global market owing to large number of consumers relying on electronic stores, supermarkets, and hypermarkets. Moreover, features like physical verification of the product before making a buying decision coupled with instant availability is expected to drive the market growth.

The online segment of distribution channel is expected to register the highest growth rate during the forecast period. This can be attributed to rising usage of internet and mobiles among the millennial across the globe. Moreover, other features like doorstep delivery, rising influence of e-commerce websites like Amazon and Alibaba and hassle-free return policy is projected to fuel the market growth in the upcoming years.

Function Insights

In 2018, the non-automatic function segment held the largest share of over 50% across the global electric iron market. This can be attributed to lower prices as compared to that of automatic products. Such products are majorly being used by laundry service providers across developing countries like China, India, Pakistan, Bangladesh, and Myanmar. Additionally, other features like quick heating ability and heavyweight help while ironing large number of clothes.

Global electric iron market

The automatic electric iron segment is expected to witness the highest CAGR of 8.5% during the forecasted years, 2019 to 2025. This can be attributed to the presence of thermostat in such irons which prevents the burning of clothes due to overheating of the coil. Moreover, these products help in maintaining temperature of the appliance, thereby reducing the wear and tear.

Regional Insights

In 2018, North America held the largest share of around 30.8% across the electric iron market. This can be attributed to rising working population coupled with the need for ironed clothes at workplaces. The data provided by World Bank states that 100% of the population across countries like Mexico, Canada, and the U.S. have electricity accessibility. Moreover, rising trend of using basic appliances among the millennial is expected to boost the market demand in the upcoming years. Asia Pacific is anticipated to witness the highest CAGR of 9.1% during the forecasted years, 2019 to 2025. Increasing population coupled with rising disposable income is expected to pave the way for the demand for such products. Moreover, increasing number of manufacturers across countries like China and India coupled with rising electricity accessibility in the rural regions is anticipated to fuel the market demand during the forecasted years, 2019 to 2025.

Electric Iron Market Share Insights

The market for electric iron includes key players such as BCL Electronic; BSH; Bajaj Electricals Ltd.; Home Appliances FZE; Havells India Ltd.; Crompton; Jaipan; Orient Electric; Singer; Panasonic; and Osian.

These manufacturers are continuously engaged in product development and innovation. Moreover, these manufacturers have started producing power-efficient products, especially for rural regions due to power shut down and voltage fluctuations. Thus, the demand for such products is expected to increase in the upcoming years thereby boosting the demand for electric irons.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America and Middle East & Africa

Country scope

U.S., Germany, U.K., China, India, Brazil and UAE

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis on latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global electric iron market report based on function, product, application, distribution channel and region:

• Function Outlook (Revenue, USD Million, 2015 - 2025)
    • Automatic
    • Non-automatic

• Product Outlook (Revenue, USD Million, 2015 - 2025)
    • Dry
    • Steam

• Application Outlook (Revenue, USD Million, 2015 - 2025)
    • Residential
    • Commercial

• Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
    • Offline
    • Online

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
    • Europe
        • Germany
        • U.K.
    • Asia Pacific
        • China
        • India
    • Central & South America
        • Brazil
    • Middle East and Africa
        • UAE

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