Global sales of cloth
drying racks are estimated to reach US$ 3.9 Bn by the end of 2031,
increasing at a CAGR of 3.6% from 2021 to 2031, mostly driven by high demand
for freestanding cloth drying racks, which held more than 54% market share in
2020.
Innovation in technology and advancements of industries have helped the cloth
drying racks industry grow and diversify the product line. With the help of
innovation, players in the industry provide various types of cloth drying racks
that can be mounted on different platforms according to customer requirements.
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Availability of electric cloth drying racks that use minimal energy to heat the
rods and improve efficiency has helped the laundry industry grow and provide
various services at affordable rates. Further, introduction of smart cloth
drying racks that can be accessed using the product through smartphones has
eased customer experience. In addition, innovation in modern machinery has
helped build drying racks not only for residential purposes but also for
industrial use.
Due to the constant contribution toward product innovation, growth in number of
players in the industry has fueled competition, which has encouraged them to
provide unique, safe, and effective products. The market is currently
experiencing the emergence of small local and regional players.
For instance:
In 2021, Beijing Tokyo Manufacturing Co. launched an electric clothes drying
rack with UV sterilization. The product utilizes an aviation-grade
aluminium-alloy body and integrates a silent German DC motor. It uses a
self-developed integrated rope winding electric lift system that can drop down
to 1.1 meters.
In 2021, Aldi launched a new variant of its heated clothes airer. The Aldi
airer has a large drying surface that is big enough to dry sheets and towels in
less time than conventional clothes dryers. It has 20 separate heated bars to
slip T-shirts, trousers, and socks.
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Key Takeaways from Market Study:
·
Adoption rate of cloth drying racks is likely to
grow with manufacturers innovating and providing safe and efficient electric
cloth drying racks.
·
Freestanding cloth drying racks are projected to
hold the highest market share by 2031, at around 74.3%.
·
Cloth drying racks that are wall-mounted are
likely to register highest growth during the forecast period at a CAGR of
around 6.1%.
·
Cloth drying racks made of metal are projected
to lead the industry with a market share of around 31.5%, owing to the fact
these are lightweight, reliable, and easy to install.
·
Sales of cloth drying racks across China are
expected to increase at a CAGR of close to 3.5% from 2021 to 2031.
"Leading companies are aggressively marketing a wide
range of cloth drying racks with various products and mounting types. Moreover,
introduction of electrical smart cloth drying racks that improve efficiency and
usability has helped the laundry service industry grow," says an analyst
at Persistence Market Research.
Key Market Players:
The report underlines ground-breaking insights into the competitive scenario of
the cloth drying racks market, along with the highlights of differential
strategies used by manufacturers.
Some of the key players identified across the value chain include CRESNEL,
Honey-Can-Do, Pennsylvania Woodworks, Aero, AmazonBasics, JOMOO, HK, Whitemor
Inc., BallcapBuddy, Mr. Bond, AMEZIEL Inc., Cobbe, Xcentrik, Orlant, Lbest,
Hotata, ASJ, L-Best, Schloeman, and Jeyang, among others.
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Know More about Report Inclusions:
Persistence Market Research published a new market report on the cloth drying
racks market, covering global industry analysis of 2016-2020 and forecasts for
2021 to 2031. This research report provides compelling insights on the basis of
product type, mounting type, price range, material, and sales channel, across
all major regions of the world.
The report also includes forecast factors and vital macroeconomic factors that
are anticipated to boost the growth of the global market. It also addresses the
restraints that are projected to hinder market growth, along with the latest
trends and potential opportunities in the market.
Read More Trending “PMR Exclusive Article”-
https://www.openpr.com/news/2686655/cloth-drying-racks-market-is-estimated-to-reach-a-valuation-us
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Cloth Drying Racks Market Opportunities, Cloth Drying Racks
Market Segments, Cloth Drying Racks Market Scope, Cloth Drying Racks Market
Overview, Cloth Drying Racks Market SWOT Analysis
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