Electric Cloth Drying Rack Trends and Forecast
The future of the global electric cloth drying rack market looks promising with opportunities in the residential and commercial markets. The global electric cloth drying rack market is expected to reach an estimated $1.6 billion by 2030 with a CAGR of 5.3% from 2024 to 2030. The major drivers for this market are rising consumer demand for reasonably priced and energy-efficient products, trend of urbanization, as well as, the innovations in technology that enhanced the efficiency and usefulness of electric drying racks.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Electric Cloth Drying Rack by Segment
The study includes a forecast for the global electric cloth drying rack by installation type, carrying capacity, application, end use, and region.
Electric Cloth Drying Rack Market by Installation Type [Shipment Analysis by Value from 2018 to 2030]:
• Freestanding
• Ceiling Mounted
Electric Cloth Drying Rack Market by Carrying Capacity [Shipment Analysis by Value from 2018 to 2030]:
• Below 10 Kg
• 10 Kg - 15 Kg
• 15 Kg - 20 Kg
• Above 20 Kg
Electric Cloth Drying Rack Market by Application [Shipment Analysis by Value from 2018 to 2030]:
• Indoor
• Outdoor
Electric Cloth Drying Rack Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Residential
• Commercial
Electric Cloth Drying Rack Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Electric Cloth Drying Rack Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies electric cloth drying rack companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the electric cloth drying rack companies profiled in this report include-
• Beijing-Tokyo Manufacturing Company
• Bell-Bro
• Brabantia Branding
• CasaOmnia
• Foxydry
• Hooeasy Electric
• Koninklijke Philips
• Lakeland
• Lenoxx Electronics
• Xiaomi Mijia
Electric Cloth Drying Rack Market Insights
Lucintel forecasts that ceiling-mounted electric clothes drying racks is expected to witness the higher growth over the forecast period.
Within this market, residential is expected to witness the higher growth.
North America is expected to witness highest growth over the forecast period.
Features of the Global Electric Cloth Drying Rack Market
Market Size Estimates: Electric cloth drying rack market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Electric cloth drying rack market size by installation type, carrying capacity, application, end use, and region in terms of value ($B).
Regional Analysis: Electric cloth drying rack market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different installation type, carrying capacity, application, end use, and regions for the electric cloth drying rack market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the electric cloth drying rack market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the electric cloth drying rack market size?
Answer: The global electric cloth drying rack market is expected to reach an estimated $1.6 billion by 2030.
Q2. What is the growth forecast for electric cloth drying rack market?
Answer: The global electric cloth drying rack market is expected to grow with a CAGR of 5.3% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the electric cloth drying rack market?
Answer: The major drivers for this market are rising consumer demand for reasonably priced and energy-efficient products, trend of urbanization, as well as, the innovations in technology that enhanced the efficiency and usefulness of electric drying racks.
Q4. What are the major segments for electric cloth drying rack market?
Answer: The future of the global electric cloth drying rack market looks promising with opportunities in the residential and commercial markets.
Q5. Who are the key electric cloth drying rack market companies?
Answer: Some of the key electric cloth drying rack companies are as follows:
• Beijing-Tokyo Manufacturing Company
• Bell-Bro
• Brabantia Branding
• CasaOmnia
• Foxydry
• Hooeasy Electric
• Koninklijke Philips
• Lakeland
• Lenoxx Electronics
• Xiaomi Mijia
Q6. Which electric cloth drying rack market segment will be the largest in future?
Answer: Lucintel forecasts that ceiling-mounted electric clothes drying racks is expected to witness the higher growth over the forecast period.
Q7. In electric cloth drying rack market, which region is expected to be the largest in next 5 years?
Answer: North America is expected to witness highest growth over the forecast period.
Q.8 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the electric cloth drying rack market by installation type (freestanding and ceiling mounted), carrying capacity (below 10 kg, 10 kg - 15 kg, 15 kg - 20 kg, and above 20 kg), application (indoor and outdoor), end use (residential and commercial), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Electric Cloth Drying Rack Market, Electric Cloth Drying Rack Market Size, Electric Cloth Drying Rack Market Growth, Electric Cloth Drying Rack Market Analysis, Electric Cloth Drying Rack Market Report, Electric Cloth Drying Rack Market Share, Electric Cloth Drying Rack Market Trends, Electric Cloth Drying Rack Market Forecast, Electric Cloth Drying Rack Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.