The global Electric Clothes Drying Hanger market is expected to witness a market value of US$ 1.4 Billion in 2023 and is expected to accumulate a market value of US$ 2.4 Billion by registering a CAGR of 5.4% in the forecast period 2023 to 2033. The Electric Clothes Drying Hanger market registered a CAGR of 3.5% in the historical period 2018 to 2022. Factors such as the technological advancements in products, as well as advantages that it offers including convenience & energy efficiency, are expected to boost the market growth over the analysis period.
As per Future Market Insights - market research and competitive intelligence provider, the global market value for Electric Clothes Drying Hanger has been flourished. One of the primary factors contributing to the growth of the Electric Clothes Drying Hanger market is the growing awareness about energy conservation. With the increasing focus on energy conservation, electric clothes drying hangers are gaining popularity as they offer an energy-efficient and cost-effective alternative to traditional clothes dryers. Electric clothes drying hangers consume less energy compared to traditional dryers, and they can be operated using solar panels or renewable energy sources, further enhancing their appeal to environmentally conscious consumers.
Additionally, electric clothes drying hangers are highly convenient, as they can be used in any weather condition and require minimal space. These hangers can be installed in small apartments or homes with limited space, allowing consumers to save valuable living space while still having a convenient way to dry their clothes.
Furthermore, the increasing urbanization and the growing number of small-sized homes and apartments in urban areas are expected to accelerate the demand for electric clothes drying hangers. The limited living space in urban areas makes it difficult for people to dry their clothes using traditional methods, making electric clothes drying hangers a highly attractive option.
The development of innovative technologies and features, such as auto-drying and disinfection functions, is one of the major factors that is anticipated to propel the market growth in the forthcoming years. These features make electric clothes drying hangers more efficient and convenient to use, further enhancing their appeal to consumers.
Besides, the increasing disposable income of consumers, especially in emerging economies, is a major factor expected to augment the market prospects. As consumers become more affluent, they are likely to invest in home appliances that offer convenience and energy efficiency, which electric clothes drying hangers are well-positioned to offer.
On the regional end, the Electric Clothes Drying Hanger market in North America is expected to account for the maximum share during the analysis period. Factors such as the increasing demand for energy-efficient and space-saving appliances, as well as the rising awareness about the benefits of the product in the region, are anticipated to escalate the regional market growth.
On the other hand, the Electric Clothes Drying Hanger Market in Asia Pacific is witnessing significant growth in recent years. The regional market growth is driven by factors such as increasing urbanization, rising disposable incomes, growing awareness about energy-efficient appliances, and the adoption of smart home technologies.
Recent developments in technology, mergers, acquisitions, and partnerships within the companies involved in the manufacturing of Electric Clothes Drying Hanger are expected to create lucrative opportunities for market growth over the analysis period. For instance,
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | US$ 1.4 Billion |
| Projected Market Value in 2033 | US$ 2.4 Billion |
| Growth Rate (2023 to 2033) | 5.4% CAGR |
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The prime factors governing the demand for electric clothes drying hanger are convenience and comfort. Consumers are inclined towards such products which make their life easy and save time as well. In order to capture a larger market share, manufacturers are introducing energy-efficient electric clothes drying hanger offering lucrative features like the speed of dying, noise emissions, moisture sensors, and LED interfaces.
Additionally, the electric clothes drying hanger is available in various materials, sizes, and shapes with folding and expanding features which makes electric clothes drying hanger adequate for the household and commercial sector.
Electric clothes drying hanger are a great option for small homes and apartments where there is no outdoor space for air-dry clothing. Majorly stainless steel electric clothes drying hanger are preferred by the consumers as they are the safest ways for drying most clothes, as compared to open-air drying of garments on clothes drying racks which may have rust and degrades the quality of the clothes.
Thus, the electric clothes drying hanger market is anticipated to grow with ascend in demand for portable, efficient, and lightweight electric appliances, which is expected to create a lucrative opportunity for electric clothes drying hanger in the foreseeable future.
In the present era, consumers are aware of environment friendly products, a trend quite evident in the electrical appliance industry. Energy efficiency and environment friendly products have become a top priority. However, consumers also seek products that are made of recyclable or sustainable products, not unleashing any negative impact on the Earth & society.
Further, consumers have become more conscious while making their buying decision of electric clothes drying hanger. The main reason behind this consciousness is the growing product knowledge and increasing desire of technology driven home appliances. Moreover, along with the ease of utility, product efficiency, and flexibility boost the demand for electric clothes drying hanger among consumers.
Technology innovation in electric clothes drying hanger market is creating lucrative growth opportunities which in turn ascend the product adoption among the customers. Further, distantly controlled through smartphones, rain recognizing savvy clothes drying hanger that retract itself is one such innovation in electric clothes drying hanger market that manufacturers can add-in to cater the demand of the customers.
Electric clothes drying hangers is the new choice of drying clothes. At present the use of drying hanger was limited to certain materials only, but manufacturers have recently expanded the use of the electric clothes drying hanger and it can now be used for all types of clothes (except silk-cotton clothes).
In low-ventilated rooms, putting clothes on the electric drying hanger to dry can account for up to a third of the moisture in the air, and it develops an ideal conditions for moulds spores to grow and dust mites to thrive; both these conditions triggering asthma.
Adding to this, Indoor drying of clothes that contain fabric conditioner would upsurge the amount of cancer-causing chemicals in the air. Rising health concerns among consumers is one of the prominent reasons responsible for the slow growth of the electric clothes drying hanger market.
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In order to sustain in this competitive market, the market players needs to come out with more innovative designs and technology which cater the need of the consumer. The top manufacturer in the global electric clothes drying hanger market are
china has been working towards introducing a Smart Hanger Clothes Dryer Portable Travel Mini Folding Clog Shoes Heater. Not only the hanger can be used to dry clothes, but it can also be used to dry shoes by adding special parts.
Product innovation is among the key success factors that have a significant influence on consumer’s purchase decision in India. Most of the electric clothes drying hanger manufacturers are focusing on handheld electric clothes drying hanger owing to its lightweight and portability features. Moreover, sleek, compact & stylish design also are top priorities that manufacturers follow.
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Using natural solar energy is the typical method which is used for of drying clothes in Indonesia. Hotels and hospitals, and several other commercial sector uses commercial drying machines for drying clothes. Housing in densely populated cities in Indonesia, do not provide plenty spaces for drying clothes naturally.
Thus, windows, balcony, garage, front gate, and several other places in house are used for drying clothes naturally. This method of drying clothes disturbs the aesthetics of the housing. Thus, the climatic condition of Indonesia as well as the space factor has given rise to the use of electric clothes drying hanger and it is now trending and growing significantly in Indonesia
In Malaysia, the situation of the atmosphere are uniform temperature, high humidity and abundant precipitation and they happened fundamentally because of the maritime presentation of the nation. Winds are the only form of light in Malaysia. This circumstances has compelled them to opt for an innovative way of drying clothes. Consequently, an electric clothes drying hanger would be a perfect fit for such countries.
The global electric clothes drying report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts across the value chain.
The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Electric Clothes Drying Hanger Market
