Garment Steamer Market Share 2023

The Garment Steamer Market was estimated at USD 2.40 Billion in 2023. It is expected to grow to USD 4.26 Billion by 2033 at a CAGR of 5.9%.

NEW YORK CITY, NEW YORK, UNITED STATES, February 1, 2023 /EINPresswire.com/ -- The Garment Steamer Market was estimated at USD 2.40 Billion in 2023. It is expected to grow to USD 4.26 Billion by 2033 at a CAGR of 5.9% between 2023 and 2033.

This market offers significant growth opportunities due to the increasing number of convenience stores and specialty shops, as well as the increased demand for high-efficiency appliances. The growth of advanced consumer appliances in the garment care market will be a major driver of the market. The steamers are also more portable and flexible than flat irons, which have higher efficiency, flexibility, and portability. To drive growth, manufacturers are increasing the number of promotional campaigns. Philips launched a campaign for its new garment steamer in January 2019. This was done to promote the ease of using garment-care products.

Growing demand:

The region's product demand will grow as more people become aware of multi-functional products. In order to increase market share and grow product development, major companies will be focusing on acquisitions and capacity expansion. Rowenta's IXEO steamer launched in March 2019. The steamer's innovative ergonomic design makes it ideal for home applications.

Garment steamers Market growth is driven by product innovation. This results in product periodization. Customers are more likely to shop online with increasing internet penetration and smartphones. These features are expected to make online shopping easier for consumers.

Garment steamers are noticing a growing demand for smart-connected home appliances. Smart homes are connected to the internet via digitalization. They use the internet for security and control, lighting, and other services.

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Driving Factors

The garment steamer market is driven by the growing middle class. They have the ability to buy garment steamers and are able to live more comfortably. The growing number of women employed in the garment industry is another factor that drives its growth. The rising demand for household appliances like washing machines, cleaners, and baths is driving this market.

Restraining Factors

Market Advancement will be slowed by high maintenance and operating expenses

A dryer machine requires a more complex setup than a natural gas-fired one.

process. Drying machinery is not feasible for all applications. A superheater or boiler is required to heat steam. This can increase capital expenditures. The market for steam dryers must not expand.

Market Key Trends:

These are market-key trends that emphasize increased competition and continuous innovation.

Recent development:

Hillhouse Capital, an equity company leader in this sector, bought Philips' home appliance division in April 2021. Philips will be able to expand its home appliances market in new countries and create growth opportunities through the acquisition.

Key questions:

How will the Garment Steamer Market grow in the future?

What is the market size of the major players in Garment Steamer?

Which of the major players is involved in the Garment Steamer Industry?

What are the top companies in Garment Steamer Market?

What are the key factors behind the rapid growth of the Garment Steamer Market?

Who is the Garment Steamer Market's target market?

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