“Global Electric Iron Market to reach a market value of USD 2.5 Billion by 2031 growing at a CAGR of 7.9%”
The Global Electric Iron Market size is expected to reach $2.5 billion by 2031, rising at a market growth of 7.9% CAGR during the forecast period. In the year 2023, the market attained a volume of 40,765.4 Thousand Units experiencing a growth of 18.4% (2020-2023).
The Asia Pacific segment recorded 36% revenue share in the electric iron market in 2023. This can be attributed to the region's large and expanding population, as well as the growing purchasing power of consumers in emergent economies like China and India. In Asia, the demand for domestic appliances, such as electric irons, has been fuelled by rapid urbanization and the expanding middle class. Thus, the Asia Pacific segment would acquire 25,289.60 Thousand Units in 2023.
As people experience higher earnings, they have greater purchasing power to invest in home appliances that enhance their quality of life. This trend is particularly evident in countries undergoing economic growth, where a burgeoning middle class prioritizes acquiring essential household goods, including these irons. These consumers are transitioning from manual ironing methods, such as coal irons or outsourcing laundry, to more efficient irons that offer convenience and better results. Hence, this trend highlights how economic growth in developing nations directly correlates with adopting modern, energy-efficient, and feature-rich irons, driving overall market expansion.
Additionally, The accelerating pace of global urbanization profoundly impacts the demand for home appliances, including these irons. As more people move from rural areas to cities, there is a notable shift towards smaller nuclear families, especially in urban settings where space is often limited. This demographic change is creating a growing demand for compact, efficient household appliances that cater to the needs of modern, space-conscious living environments. Thus, the global trends of urbanization and the rise of middle-class households are significant factors propelling the growth of this iron market.
However, With advancements in textile manufacturing, a wide range of fabrics are available that either resist wrinkles or require minimal care to maintain their appearance. These fabrics appeal to busy consumers who seek convenience and efficiency in their daily routines. As a result, the traditional need for frequent ironing has diminished, as garments made from these materials tend to remain smooth and presentable without using an iron. Hence, this growing preference for easy-care fabrics poses a long-term challenge for this iron industry.
Based on function, this market is bifurcated into automatic and non-automatic. The non-automatic segment procured 46% revenue share in the electric iron market in 2023. Often simpler and more affordable, these irons attract consumers in developed and emerging markets, particularly among price-sensitive buyers. Non-automatic irons, which require manual temperature and steam control adjustments, appeal to customers prioritizing cost-effectiveness over advanced functionalities. In terms of volume, the segment would register 40,765.4 Thousand Units in 2023.
On the basis of product, this market is classified into dry and steam. The dry segment recorded 45% revenue share in the electric iron market in 2023. Dry irons, which do not rely on steam, are still favored by a considerable portion of the market, particularly in regions where simpler, more affordable models are in demand. These irons are often lightweight and easy to use, making them suitable for basic ironing needs.
By application, this market is divided into residential and commercial. The residential segment garnered 45% revenue share in this market in 2023. This is primarily due to household demand for personal ironing needs. While the adoption of wrinkle-free fabrics and casual wear has reduced the overall frequency of ironing in many homes, many consumers still view an electric iron as an essential household appliance. In terms of volume, the segment would register 40,765.4 Thousand Units in 2023.
Based on distribution channel, this market is segmented into online and offline. The online segment acquired 25% revenue share in the electric iron market in 2023. The convenience of online shopping has been a big factor in the growth of the online market segment. Customers are able to browse a wide range of brands and models, read reviews, and compare prices without having to leave the comfort of their own homes, which has contributed to the growing popularity of online shopping.
Free Valuable Insights: Global Electric Iron Market size to reach USD 2.5 Billion by 2031
Region-wise, this market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment witnessed 26% revenue share in this market in 2023. The region's mature market, characterized by high household appliance ownership, continues to generate demand, particularly for upgraded or technologically advanced electric irons. While market saturation may limit growth in some areas, the consistent need for home improvement products and replacing older appliances with more energy-efficient or feature-rich models contribute to steady demand.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 1.4 Billion |
| Market size forecast in 2031 | USD 2.5 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 7.9% from 2024 to 2031 |
| Quantitative Data | Volume in Thousand Units, Revenue in USD Billion, and CAGR from 2020 to 2031 |
| Number of Pages | 330 |
| Number of Tables | 790 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Function, Product, Distribution Channel, Application, Region |
| Country scope |
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| Companies Included | Koninklijke Philips N.V., Bajaj Electricals Limited, Panasonic Holdings Corporation, Crompton Greaves Consumer Electricals Limited, Havells India Ltd., Orient Electric Limited (CK Birla Group), GE Appliances, Eveready Industries India Ltd., BSH Hausgeräte GmbH (Robert Bosch Group), and Hamilton Beach Brands, Inc. (Hamilton Beach Brands Holding Company) |
By Function (Volume, Thousand Units, USD Billion, 2020-2031)
By Product (Volume, Thousand Units, USD Billion, 2020-2031)
By Application (Volume, Thousand Units, USD Billion, 2020-2031)
By Distribution Channel (Volume, Thousand Units, USD Billion, 2020-2031)
By Geography (Volume, Thousand Units, USD Billion, 2020-2031)
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