Portable Iron Market Size is Set to Reach USD 237.9 Billion by 2032, with a CAGR of 5.50% | MRFR
Research Reports
Sep 06, 2023
According to a Comprehensive Research Study by Market Research Future (MRFR), The Portable Iron market might expand from the valuation of USD 155.0 Billion in 2023 to a whopping USD 237.9 Billion by 2032, at a rate of 5.50% between 2023 and 2032.
Since freshly ironed clothing is seen as a sign of organization, its significance in both personal and professional life cannot be overestimated. When one does not require the assistance of outside ironing services, the portable iron is a practical and private instrument that can be used to maintain neat and clean clothing. The mini-iron fits neatly inside the bag thanks to its small size, and a carry case is also provided to keep it there. Because it is so easy to transport, there is an increase in demand for this attractive item.
A rising number of players are offering irons that can function in both dry and steam modes so that it is possible to use the same iron for different types of clothing, such as silk and cotton. To satisfy the various expectations of consumers, manufacturers are developing new models that are more practical, such as those that are lighter in weight, more powerful with foldable handles, and cordless, and non-stick soleplates.
Market Competitive Landscape:
- 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)
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Market Drivers:
The market for portable irons is currently being driven mostly by the tremendous expansion of the travel and tourism sector, as well as by rising income levels, more urbanization, and increased travel activity. Additionally, cordless portable irons are growing in popularity because of their many advantages, which include the convenience of using a USB port to charge them and the ability to iron clothes. This contributes to a good outlook for the business along with people’s increasing awareness of their overall appearance.
International product producers are also providing cutting-edge portable irons with modern features like customizable temperatures and steam settings for different types of materials to streamline and enhance the user experience. Additionally, because of heavy dependence on influencer social media marketing, celebrity endorsements, online instructions, and reviews, the overall sales of portable irons are rising.
People are now traveling more frequently for a variety of reasons, such as business and leisure trips. A portable ironing device is also a great tool for people who travel frequently and don’t have time to take their clothes to the laundromat. For instance, according to the U.S. Travel Association’s “U.S. Travel and Tourism Overview (2019)” report, domestic leisure and business travel in the country increased in 2019 by 1.9% (1.9 billion person-trips) and 1.1% (464 million person-trips) respectively compared to 2018. One does not have to worry about the availability of the hotel’s laundry and ironing service when on a lengthy journey.
Market Restraints:
The issues with steam iron water leaks and portable irons’ reduced operational capacity in comparison to normal irons may slow down their demand and hinder market expansion.
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Market Segmentation
There are both dry and steam portable irons available in the market. The dry industry dominated the global market in 2022.
The portable iron market is segmented into three groups, with respect to soleplate type: stainless steel, ceramic, and others (including titanium).
Two of the portable iron market’s distribution channel-based segments are offline and online. The offline market segment dominated the whole industry in 2022.
Regional Insights
The North American market has held the highest place since 2022 (45.80%). People in this region are more likely to use technologically sophisticated items that provide comfort and convenience and are also more willing to spend more for the same products. According to Statistics Canada’s “Survey of Household Spending,” which was released in December 2018, for instance, the average household expenditure in Canada for appliances went from over USD 420.68 in 2013 to over USD 517.90 in 2017.
According to MRFR’s projections, the market in Asia Pacific will expand rapidly over the study period. This is due to the region’s businesses experiencing significant expansion as a result of rising globalization. Because of this feature, there are more business trips because there are more international business alliances between companies.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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