Electric Blanket Market to Expand Twofold by 2030; COVID-19 Crisis Putting Breaks on Market Growth, Finds PMR
Published On : Aug 19, 2020
Electric blankets are heating blankets with built-in heating elements that help in maintaining a desired temperature level even in a cold room. Electric blankets are mostly preferred for reducing overall home heating costs. These are opted for both, residential as well as commercial purposes. Their unique high durability, low cost, and long-lasting features are factors that are leading to a surge in their demand.
A new research report by Persistence Market Research predicts that the global electric blanket market will expand at a healthy CAGR of around 7% over the period of 2020 to 2030.
Key Takeaways from Global Electric Blanket Market Study
- The global electric blanket market is expected to double in size by value over the next ten years.
- Based on product, the under blankets segment leads the global market with the maximum revenue share highest projected CAGR for the forecast period.
- Based on end user, the residential sector leads with a high share of over two-third.
- On the basis of sales channel, organized retail dominates the global market with a higher market share, whereas online channels project the highest growth rate during the forecast period.
- In terms of region, North America is expected to witness maximum revenue share by the end of 2030. However, APAC is anticipated to depict the highest growth rate during the forecast period.
“Restrictions on trade, manufacturing, and supply chain activities due to the COVID-19 pandemic will impede the growth of the global electric blanket market in the near term,” says a PMR analyst.
Electric Blanket Market Insights
With technological advancements taking place in every industry, people are shifting their preference toward more convenient and technology-driven products available in the market. This has helped the heating appliance industry to grow, in turn, driving the demand for electric blankets. Manufacturers of electric blankets are focusing on introducing novel products in the market to expand their customer base and increase market penetration. Additionally, consumers are demanding heating appliances that are less expensive with high efficiency. Trends emerging in the market exhibit growing demand for waterproof and stain resistant electric pads. Newer innovations have also helped manufacturers introduce electric blankets that combat pests. Businesses can make good use of these opportunities and compete efficiently in the global electric blanket market space.
Global Electric Blanket Market: Competition Analysis
The report consists the profiles of all the major players currently operating in the global electric blanket market. Some of the key players mentioned in the report are Jarden Corporation, Shanghai Shenda Co. Ltd., Beurer GmbH, Biddeford Blankets, LLC, Snugnights UK LLP, Slumberdown Company, PIFCO, Shavel Associates Inc., Silentnight Group Ltd., CDB Goldair Australia Pty LTD, Glen Dimplex Group, etc.
More Valuable Insights on Electric Blanket Market
Persistence Market Research released a new market research on the electric market, covering global industry analysis of 2015-2019 and forecasts for 2020–2030. The electric blanket market study reveals compelling insights on the basis of product, end use, price range, size, material, sales channel, and region.
For additional information on how the electric blanket market will shape up in the near future, write to the team of expert research analysts at email@example.com
About Consumer Goods Division at Persistence Market Research
The Consumer Goods team at Persistence Market Research helps clients from all over the globe with their unique business intelligence needs by offering expert analysis, actionable insights, and strategic recommendations. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the consumer goods industry lucidly in 50+ countries for over a decade. We provide end-to-end research and consulting services; reach out to explore how we can help.
Electric Blanket Market
Global Market Study on Electric Blankets: Rapidly Rising Demand for Under Blankets Aiding Market Progress
Global Market Study on Electric Blankets: Rapidly Rising Demand for Under Blankets Aiding Market ProgressRequest TOC