Global Electric Iron Market Report and Forecast 2024-2032

Global Electric Iron Market Outlook

The global electric iron market size reached approximately USD 1.35 billion in 2023. The market is further projected to grow at a CAGR of 7.4% between 2024 and 2032, reaching a value of USD 2.38 billion by 2032.

Key Trends in the Market

Electric iron refers to a small household appliance used for removing wrinkles and creases from clothes with the combination of pressure and heat. The current passes through a piece of wire that then heats up and emits heat radiations. The different types of electric irons include automatic and non-automatic.

• The expansion of the hospitality sector is aiding the electric iron market growth. Increased efforts of hotels and other establishments to provide the travellers with a comfortable stay and high-quality services and amenities including laundry services is bolstering the demand for electric irons.

• The availability of electric irons in various price ranges is supporting the market expansion as it provides the consumers with different price points to choose from and allows them to select the product most compatible with their budget and suitable for their requirements. Various online and offline retail stores also offer store credit and loyalty points to customers encouraging them to shop more and often at their stores.

• The rising investments by the key players of the market towards the development of electric irons with recyclable materials and features including reduced energy consumption are providing lucrative growth opportunities to the market, owing to the growing demand for sustainable products due to increasing environmental concerns.

Global Electric Iron Market Analysis

On the basis of type, the market is bifurcated into dry and steam. Based on application, the market is divided into residential and commercial. On the basis of distribution channel, the market is classified into offline and online.

Based on region, the electric iron market segmentation includes North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Koninklijke Philips N.V. 

• Panasonic Holdings Corp 

• Electrolux AB 

• Crompton Greaves Consumer Electricals Ltd. 

• SEB SA 

• Usha International Ltd. 

• Bajaj Electricals Ltd 

• Stanley Black & Decker, Inc. 

• Orient Electric Ltd 

• Braun GmbH 

• Others

Market Share by Distribution Channel

Offline distribution channels are anticipated to account for a significant electric iron market share over the forecast period. This growth can be attributed to the consumer preference for physically checking the condition of the electronic products prior to purchasing. The presence of helpful sales professionals and instant availability of the product further boosts the appeal of shopping in physical stores. The ease of comparison of the physical attributes of the product including shape and size further encourages consumers to shop through offline distribution channels.

Market Share by Region

The Asia Pacific is expected to witness significant growth in the coming years owing to rising access to electricity and increasing availability of electric irons across different distribution channels. The strong presence of various manufacturing units in countries such as India and China is further supporting the market expansion in the Asia Pacific. Increased investments in product innovation such as energy efficiency, smart heating, and high power is bolstering the electric iron market demand in the region.

Competitive Landscape

Koninklijke Philips N.V., headquartered in Amsterdam, Netherlands, is a multinational conglomerate corporation dedicated towards improving the lives and wellbeing of their customers with their innovative products. The company manufactures various home appliances including electric iron, refrigerator, and mixers, among others.

Panasonic Holdings Corp, headquartered in Osaka, Japan, is a multinational electronics company involved in the development of innovative solutions and technologies for their customers. The company offers housing equipment and home appliances along with products and services for offices and stores.

Electrolux AB, headquartered in Stockholm, Sweden, is one of the largest multinational home appliances manufacturing companies. The company specialises in electric irons, cookers, refrigerators, freezers, hoods, hobs, washing machines, ovens, small appliances, vacuum cleaners, and dryers, among others.

Other electric iron market players include Crompton Greaves Consumer Electricals Ltd., SEB SA, Usha International Ltd., Bajaj Electricals Ltd, Stanley Black & Decker, Inc., Orient Electric Ltd, and Braun GmbH, among others.

Key Highlights of the Report