The drying racks market is evolved over the past few years. With the rise in infrastructural development, space has become a huge constraint amid homeowners to dry clothes. Drying racks are a great option for small homes and apartments where there is less or no outdoor space to air-dry clothing. Since air drying is one of the safest ways for drying most clothes, a drying rack has become essential in every home. These racks come in several sizes and shapes together with expanding and folding mechanisms which makes them truly versatile. Drying racks made of stainless steel are majorly preferred amid consumers as they are rust-proof and sturdy. The global drying racks market has been seeing tremendous growth and is anticipated to record a robust CAGR during the forecast period, 2020-2030.
Drying Racks Market – Key Trends
Incessant technological progressions and product awareness is boosting the growth of the drying racks market. Heated drying rack metal frames are used to dry laundry, which is heated by an element. Drying clothes indoors is unhealthy because of the extra moisture in the air causing condensation and mold. An airer assists in reducing this moisture content swiftly. Heated drying racks are gaining traction as they are economical to operate tumble dryers. For instance, Homefront electric drying rack dries a full load of washing as well as helps contain the heat to dry clothes quickly.
Several brands mushroomed on the eCommerce platforms as well as multi-retail outlets in the recent past. This is enabling consumers to have a broader choice among a variety of drying racks. This is anticipated to reflect an upward growth trajectory in the market during the forecast period.
Drying Racks Market – Growth Restraints
Electric drying racks, although dry up laundry is effective, however, they take up a lot of space. Less awareness of the product as well as expensive for the middle or lower income group is likely to impact the sales of the drying rack.
Accessibility of fewer product variants all through the distribution channels and costly product range for consumers particularly in developing regions are setting forth huge challenges for companies in the drying racks market.
COVID-19 Impact on Drying Racks Market
With nation-wide lockdown amid COVID-19 pandemic, the manufacturers are witnessing huge demand from online platforms. The pandemic has compelled end-users to rapidly move towards to gain access to an extensive range of drying racks. Moreover, the prices of raw materials have rebounded significantly which typically signals global market growth.
Drying Racks Market – Region-wise Analysis
North America is anticipated to dominate the global drying racks market and is majorly driven by the flourishing residential sector. The US has shown impressive growth in the manufacturing and consumption of drying racks such that it towers over the rest of the countries over the forecast period.
Asian region reflects potential growth prospects and continues to complement the market growth due to increasing sales of drying racks and change in consumer lifestyle.
Drying Racks Market – Competitive Analysis
The presence of several players in the global drying racks market is anticipated to intensify the marketplace competition in the coming few years. Major international players for drying racks operating worldwide are CRESNEL, Honey-Can-Do, Pennsylvania Woodworks, Aero, and AmazonBasics. Market players are focusing on product innovation and developments to expand their offerings to consumers. For instance,
Dry Soon has launched heated tower airer which has a powerful 300w motor and comes with re-adjustable shelves for added versatility. Moreover, it adorns features such as easy movability and foldability.
Honey Can Do has introduced Clothes Line, which is durable, simple in functionality, and can be easily retractable. Made from iron and stainless steel, the clothesline is 8ft long and has a locking mechanism to tighten in place.
Drying Racks Market – Market Segmentation
On the basis of material, the global drying racks market has been segmented as –
On the basis of distribution channel, the global Drying Racks market has been segmented as –
On the basis of product type, the global drying racks market has been segmented as –
On the basis of features, the global drying racks market has been segmented as -
Global Drying Racks Market: Key Players (this is an indicative list – full list of key players available upon request)
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The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.