Portable Iron Market to Rise from USD 155.0 Billion in 2023 to USD 237.9 Billion by 2032, with a 5.50% CAGR Between 2023 and 2032 – Report by Market Research Future (MRFR)
Portable Iron Market Research Report Information By Iron Type (Dry and Steam), By Soleplate Type (Stainless Steel, Ceramic, and Others (Titanium etc.)), By Distribution Channel (Offline and Online), and By Region (North America, Europe, Asia-Pacific, and Rest Of The World) – Market Forecast Till 2032
New York (US), Aug. 30, 2023 (GLOBE NEWSWIRE) -- *Portable Iron Market Overview*
According to a Comprehensive Research Study by Market Research Future (MRFR), *“*Portable Iron Market* Information by Iron Type, Soleplate Type, Distribution Channel, and Region - Forecast till 2032*”, The Portable Iron market can go from USD 155.0 Billion in 2023 to USD 237.9 Billion by 2032, at 5.50% rate from 2023 to 2032.
*Market Scope*
The importance of perfectly ironed apparel in both personal and professional life can't be overstated because it's regarded as a symbol of organization. The portable iron is a useful and private tool that can be used to keep garments tidy and clean when a person does not need to rely on outside ironing services. Due to its small size, the mini-iron takes up little room in the bag; in addition, a carry pouch is included to hold the item. As a result, the demand for this elegant device is increasing because it is simple to transport to any place.
In order to utilize the same iron for different types of clothes, such as silk and cotton, a growing number of players are offering irons that can operate in both dry and steam modes. Manufacturers are creating new models that are more practical, such as those that are lighter in weight, more powerful with foldable handles, cordless, and non-stick soleplates, to meet the diverse demands of consumers.
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Market Competitive Landscape:*
The important players in the market for portable iron are
· Koninklijke Philips N.V.
· Panasonic Corporation
· Conair Corporation
· Sunbeam Products Inc.
· ROWENTA S.A.S
· Hamilton Beach Brands Inc.
· Spectrum Brands Inc. (RussellHobbs)
· Bajaj Electricals Ltd.
· PurSteam USA
· Vornado Air LLC (Brand Steamfast)
· Among others.
*Report Scope:*
*Report Attribute* *Details*
Market Size in 2032 USD 237.9 Billion
CAGR 5.50% (2023-2032)
Base Year 2022
Forecast Period 2023-2032
Historical Data 2018- 2022
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Iron Type, Soleplate Type, Distribution Channel, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Key Market Drivers Portable iron market, significant growth in the travel and tourism industry, and rapid urbanization
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Market USP Covered:*
*Market Drivers:*
The massive growth of the travel and tourism industry, increased urbanization, rising income levels, and increasing travel activities are currently the main drivers of demand for travel irons. Additionally, cordless portable irons are becoming more and more popular because of their various benefits, which include the convenience of being able to charge them via a USB port and ironing garments. Along with people's growing awareness of their overall appearance, this is leading to a positive outlook for the market.
Furthermore, innovative travel irons with cutting-edge features like adjustable temperatures and steam settings for various types of materials are being offered by international product manufacturers to simplify and improve the consumer experience. Additionally, due to a strong reliance on influencer social media marketing, celebrity endorsements, online instructions, and reviews, the overall sales of travel irons are increasing.
The number of people traveling has substantially increased for a variety of reasons, including business and vacation excursions. Additionally, a compact ironing device is an ideal gadget for persons who frequently travel and lack the time to take their garments to the laundromat. For instance, the "U.S. Travel and Tourism Overview (2019)" report from the U.S. Travel Association, which was released in March 2020, states that domestic leisure travel and business travel in the U.S. increased in 2019 by 1.9% (1.9 billion person-trips) and 1.1% (464 million person-trips) in comparison to 2018. When on a tour for a longer amount of time, a person does not need to worry about the availability of the hotel's washing and ironing service.
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Market Restraints:*
The market growth will be hampered by steam irons' concerns with water leaks and their decreased operating capacity compared to regular irons.
*COVID 19 Analysis*
The demand for and sales of portable iron went down as a result of the COVID-19 epidemic, and buyers are now more likely to buy basic necessities. The difficulties the industry has faced as a result of the lockdown situation, including decreased production, the closure of manufacturing facilities, travel limitations, export, and import restrictions, a shortage of staff, and a hindered supply chain, have had an effect on the electric iron market's sales and revenue. Due to disruptions in the domestic supply chain, the major manufacturers have also encountered challenges when trying to deliver their products through online platforms.
*Market Segmentation*
*By Type*
Dry and steam portable irons are available. In 2022, the dry sector dominated the world market.
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By Soleplate Type*
Depending on the soleplate type, the portable iron market is divided into three categories: stainless steel, ceramic, and others (such as titanium).
*By Distribution Channel *
Offline and online are two of the distribution channel-based segments of the portable iron market. In 2022, the offline segment dominated the whole market.
*Regional Insights*
The top spot has been held by the North American market since 2022 (45.80%). People in this region are inclined to utilize technologically advanced appliances that offer comfort and convenience, and they are also more prepared to pay more for the same things. For example, according to Statistics Canada's "Survey of Household Spending," which was published in December 2018, the average household expenditure in Canada for appliances increased from around USD 420.68 in 2013 to over USD 517.90 in 2017.
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