Global Smart Laundry Drying Rack Market Growth 2023-2029

Global Smart Laundry Drying Rack Market Growth 2023-2029

The global Smart Laundry Drying Rack market size is projected to grow from US$ 2323.3 million in 2022 to US$ 3497.3 million in 2029; it is expected to grow at a CAGR of 6.0% from 2023 to 2029.

Clothes racks, as household items that people use every day, have become a daily necessity for many families. "Clothes hanger" is a major product in China. It has been more than ten years since the industry was formed. In summary, its development has gone through three stages: the clothes hanger has developed from the initial landing, floating and hand-operated clothes hangers to From the electric clothes dryer driven by electricity to the multifunctional smart laundry clothes hanger that has appeared in recent years, the functions of the clothes hanger product have been greatly extended and enriched. Under the popularity of the concept of smart home, electric clothes hangers have emerged in recent years, and many companies and entrepreneurs have turned their attention to the clothes hanger industry. At present, the penetration rate of domestic professional clothes drying equipment is about 40%. In terms of service life, 16% of clothes hangers have been used for less than 1 year, and 41% have been used for 1-3 years; more than 70% of consumers have used clothes hangers for less than 5 years. It is understood that the longest service life of a set of drying racks is 5-8 years, compared with the use time of ordinary residents' houses, the service life of drying racks is still significantly shorter. In the era of intelligence, people's life patterns have undergone earth-shaking changes: smart curtains, smart sweeping robots, smart home appliances, smart clothes hangers and other products have been launched one after another, and are getting closer to users' hearts with higher cost performance. As a branch of many smart home products, in recent years, the intelligentization of "balcony appliances" in household products has continued to rise, and smart laundry racks are deeply loved by consumers. The smart laundry drying rack is easy to operate, has complete functions, and is beautiful in appearance. It is a product that best reflects people's needs and will definitely become a trend in the future. It is reported that in Japan, South Korea, Singapore and other Asian developed countries, the penetration rate of the smart laundry rack market has reached more than 40%, and the domestic smart clothes rack market is entering the fast lane of rapid development. The penetration rate in first-tier cities such as Shanghai, Beijing, and Guangzhou has reached about 10%. In the future, smart clothes hangers will develop in the direction of intelligence, environmental protection and low carbon.

LPI (LP Information)' newest research report, the “Smart Laundry Drying Rack Industry Forecast” looks at past sales and reviews total world Smart Laundry Drying Rack sales in 2022, providing a comprehensive analysis by region and market sector of projected Smart Laundry Drying Rack sales for 2023 through 2029. With Smart Laundry Drying Rack sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Smart Laundry Drying Rack industry.

This Insight Report provides a comprehensive analysis of the global Smart Laundry Drying Rack landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Smart Laundry Drying Rack portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Smart Laundry Drying Rack market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Smart Laundry Drying Rack and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Smart Laundry Drying Rack.

This report presents a comprehensive overview, market shares, and growth opportunities of Smart Laundry Drying Rack market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
With Fan Drying
Without Fan Drying

Segmentation by application
Household
Commercial

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Koninklijke Philips
GoodLiving
YU HOME
Varlux
Xiaomi
HOMLÈDJ
OIKIA
Mensch
Steigen
Hooeasy
Haotaitai
MICOE
Precious lady
Pan Pan
Media
JOMOO
AUPU
ORLANT
L-Best
LEYE

Key Questions Addressed in this Report

What is the 10-year outlook for the global Smart Laundry Drying Rack market?

What factors are driving Smart Laundry Drying Rack market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Smart Laundry Drying Rack market opportunities vary by end market size?

How does Smart Laundry Drying Rack break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.