Cloth Drying Products Market to Garner US$ 4,910.54 Million, Globally, by 2028 at 4.8 % CAGR: The Insight Partners
Benefits of Line Drying Over Machine/Tumble Drives Cloth Drying Products Market Growth
NEW YORK, UNITED STATES, January 25, 2023 /EINPresswire.com/ -- According to the new research report published by The Insight Partners on Cloth Drying Products Market Forecast to 2028 COVID-19 Impact and Global Analysis by Product Type (Rotary Dryer, Wall-Mounted Dryer, and Drying Rack), Distribution Channel (Supermarket and Hypermarkets, Specialty Stores, Online Retail, and Others), and Geography," consists of the factors fueling the market growth, revenue estimation and forecast, and market share analysis, along with the identification of significant market players and their key developments.
The cloth drying products market is projected to reach US$ 4,910.54 million by 2028 from US$ 3,697.85 million in 2022. It is expected to grow at a CAGR of 4.8% during 20222028.
Cloth Drying Products Market - Strategic Insights
Report Coverage Details
Market Size Value in US$ 3,697.85 Million in 2022
Market Size Value by US$ 4,910.54 Million by 2028
Growth rate CAGR of 4.8% from 2022 to 2028
Forecast Period 2022-2028
Base Year 2022
No. of Pages 140
No. of Tables 58
No. of Charts & Figures 72
Historical data available Yes
Segments covered Product Type, and Distribution Channel
Regional scope North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scope US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
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The market for cloth drying products is witnessing high demand due to increasing urbanization and the increased number of ergonomically designed products available in the market. As people have started adopting compact habitats, such as studio apartments, the demand for compressible products has also increased. Cloth drying products, such as drying racks and wall-mounted dryers, are foldable and, thus, beneficial to use without consuming too much space.
Cloth-drying product manufacturers are constantly innovating to meet endlessly evolving consumer trends. They are launching technologically advanced products to attract tech-savvy consumers. For instance, in April 2020, Xiaomi, one of the leading technology groups in Hong Kong, launched a new line of retractable clothesline dryers, named Xiaomi Mijia Smart Clothes Dryer, with voice assistance, automated deployment, and integrated LED lights. These retractable dryers can sustain a weight of 35 kg of wet clothes. The product uses voice assistant technology by which consumers can adjust the height of the clothesline according to their convenience. The integrated LED lighting system adjusts the light depending on the surrounding light. Such technologically advanced products are expected to gain immense popularity among consumers, especially the youth.
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Similarly, in March 2019, Bespoke Marketing, a Canada-based company, launched the NuBreeze cloth drying rack with COOL AIR technology, claiming that it dried clothes twice as fast as the regular drying rack and used 3 times less energy as compared to a 100-Watt light bulb. The rack consumes 95% less energy than a tumble dryer, making it highly sustainable. The device consists of curved air flaps that evenly distribute air across clothes loaded on the rack. Moreover, the drying rack can load up to 20 kg of wet clothes and is also suitable for delicate fabrics. Such innovative cloth-drying products are expected to gain significant momentum in the coming years.
Manufacturers are also innovating the design of cloth dryers, keeping their consumers' convenience in mind. For instance, in June 2020, Lifestyle Clothesline launched a new range of products under the brand name Hills Hoist Clothesline in the Australian market. This new line of cloth dryers comprises folding and rotating dryers, fixed models, wall-mounted clotheslines, retractable and extending units, portable clotheslines, and clothes airer. All these products under the new brand line have modern structural designs that cater to various consumer requirements. Such an extensive range of products with different usage and unique features is expected to attract a large group of consumers in the near future.
Based on product type, the global cloth drying products market is segmented into rotary dryers, wall-mounted dryers, and drying racks. In 2021, the drying rack segment accounted for the largest revenue share, while the wall-mounted dryer is expected to account for the highest growth rate over the forecast period. Many manufacturers are offering various products under the wall-mounted segments, which can be easily fitted in the apartment or balcony and folded back onto the wall when not in use. For instance, Honey-Can-Do also offers a wall-mounted drying rack with arms that fold flat when not in use. These dryers are specially designed with materials that match any home dcor or interiors and look inconspicuous when not in use. Such flexible designs of wall-mounted dryers are further enhancing their popularity among consumers.
Cloth Drying Products Market: Competitive Landscape and Key Developments
Addis Housewares Ltd.; Brabantia Branding B.V.; Honey-Can-Do International LLC; Freudenberg Home and Cleaning Solutions GmbH; INTER IKEA SYSTEMS B.V.; JOMOO KITCHEN & BATH CO., LTD.; Julu Ltd.; RACKBUDDY; Vale Mill (Rochdale) Ltd.; Juwel; and Leifheit AG are the key players operating in the global cloth drying products market. These companies provide a wide range of product portfolios for the market. They have a widespread global presence, which provides a lucrative opportunity for the market to serve a large set of customers and increase the market share. These market players are highly focused on developing products with advanced technology platforms to serve their customers better.
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