The global electric iron market is expected to register a revenue of USD 1.8 Billion by the end of 2025, according to a new report released by Million Insights. It is expected to grow with a CAGR of 8.3% from 2019 to 2025. This market growth can be attributed to rising awareness among the working population to look presentable at workplaces and during other occasions.
The dry electric iron product segment held the largest market shares of greater the 50% in 2018 due to its lightweight feature and compact size.The segment of a steam electric iron is expected to witness the highest CAGR of 8.5% from 2019 to 2025. This can be attributed to automatic steam production process which simplifies its usage.
The offline distribution channel segment held the largest market share of 70.6% due to features like physical verification of the product.The online segment of the distribution channel is expected to register the highest growth rate. This can be attributed to rising usage of internet and mobiles coupled with hassle-free return policy.
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The non-automatic function segment of electric iron held the largest share of greater than 50% across the global market owing to lower prices as compared to that of automatic products. Moreover, other features like quick heating ability and heavyweight help while ironing large number of clothes are expected to boost the non-automatic segment. The electric iron segment is expected to witness the highest CAGR of 8.5% from 2019 to 2025.
North America held the largest share of around 30.8% across the electric iron market owing to rising working population coupled with the need for usage of ironed clothes at workplaces. Asia Pacific is anticipated to witness the highest CAGR of 9.1% from 2019 to 2025. This can be attributed to rising number of manufacturers across countries like China and India coupled with rising electricity accessibility in rural regions.
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; and Panasonic. They are continuously engaged in product development and innovation to produce power-efficient products.
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Further key findings from the report suggest:
• The segment of a steam electric iron is expected to witness the highest CAGR of 8.5% from 2019 to 2025.
• The dry electric iron segment held the largest market share of over 50% across the global market.
• The commercial application segment of electric iron held the largest market share of 55.4%.
• North America held the largest share of around 30.8% across the electric iron market.
Million Insights has segmented the global electric iron market on the basis of product, function, application, distribution channel and region:
Electric Iron Product Outlook (Revenue, USD Million, 2015 – 2025)
Electric Iron Function Outlook (Revenue, USD Million, 2015 – 2025)
Electric Iron Application Outlook (Revenue, USD Million, 2015 – 2025)
Electric Iron Distribution Channel Outlook (Revenue, USD Million, 2015 – 2025)
Electric Iron Regional Outlook (Revenue, USD Million, 2015 – 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
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