According to a new report, published by KBV research, 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 Automatic segment captured the maximum revenue in the Global Electric Iron Market by Function in 2023, thereby, achieving a market value of $1.4 billion by 2031. The escalating consumer demand for sophisticated features and convenience is the primary factor driving this growth. Automatic irons, equipped with auto shut-off, precise temperature control, and automatic steam regulation, provide a safer and more efficient ironing experience.
The Steam segment is experiencing a CAGR of 8.2 % during the forecast period. This dominance is largely attributed to the versatility and efficiency of steam irons, designed to quickly and effectively remove wrinkles from various fabrics. Steam irons offer additional features like steam bursts and vertical steaming, making them ideal for more delicate or difficult-to-iron garments.
The Commercial segment led the maximum revenue in the Global Electric Iron Market by Application in 2023, thereby, achieving a market value of $1.3 billion by 2031. The increasing demand from garment manufacturing, laundry services, and hospitality businesses, which frequently necessitate large-scale laundering, is the primary factor driving this growth. Commercial-grade irons are designed for heavy-duty use, offering enhanced durability, higher steam output, and more efficient performance to handle large volumes of ironing.
The Offline segment is growing at a CAGR of 7.6 % during the forecast period. The offline segment includes traditional brick-and-mortar stores such as electronics retailers, department stores, and specialty appliance shops. Consumers' capacity to physically inspect and test products prior to purchase, the immediate acquisition of the product, and the personalized customer service provided in physical retail environments are all contributing factors to the segment's dominance.
Full Report: https://www.kbvresearch.com/electric-iron-market/
The Asia Pacific region dominated the Global Electric Iron Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $915.4 Million by 2031. The Europe region is anticipated to grow at a CAGR of 7.3% during (2024 - 2031). Additionally, The North America region would witness a CAGR of 7.7% during (2024 - 2031).
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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