Feb 15, 2022/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Garment Steamer Market.
It was estimated prior to this unanticipated outbreak that the Garment Steamer Market is estimated to grow from USD 2.6 billion in 2020 to USD 3.6 billion by 2026 at a healthy CAGR of 5.6% during the forecast period. Garment steamers, also known as fabric steamers are a device that is used to quickly remove wrinkles from garments and fabrics with the help of high-temperature steam. These steamers are available in different sizes, features, and price ranges to suit different applications. Garment steams are equipped with an improved design which makes steaming clothes an easier chore than mundane ironing. They are easy to use as well as light in weight. It is designed to handle different types of garments such as sheets, clothes, and towels.
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The rising trend of eco-friendly appliances that consume less energy than traditional appliances is likely to create lucrative opportunities for the market players.
- The substantial rise in the middle-class population that can afford garment steamers, rapidly changing lifestyle, improved standard of living, and increased standard of living are some of the factors propelling product consumption.
- In addition, the increasing number of working women populations another key driver as these women can save time using these steamers to steam the clothes.
- However, intensified competition from the domestic unorganized garment steamers with the surge in the number of unorganized retailers has had a substantial impact on pricing discrepancy thus, is likely to hamper the product demand.
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By product, the garment steamer market has been categorized into clothes, curtains, carpets, and others.
- The clothes segment dominated the market with over half of the global market share in 2020.
- As clothes are frequently washed as it is used on a daily usage when compared to curtains and carpets, thus demand more usage of garment steamers.
- These steamers further offer dust and oil removal capability, thus drives the segment growth.
By region, the European market exhibited the highest market share in 2020. The region is led by the UK followed by Germany and France. The regional market growth can be attributed to the growing demand for advanced home appliances as well rapidly increasing working women population. For instance, the household appliance industry was valued at almost USD 4 billion in Germany.
Key players operating in the global Garment Steamer market are-
- Koninklijke Philips N.V. (Netherlands),
- Jiffy Steamer (The US),
- Rowenta (Germany),
- Conair (The US),
- Panasonic Marketing Middle East & Africa FZE (The UAE),
- Midea Group Co., Ltd. (China),
- Shanghai Flyco Electrical Appliance Co., Ltd. (China),
- AB Electrolux (Sweden),
- Haier Group Corporation (China),
- Pursteam (The US).
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Garment Steamer analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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