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.
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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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