Electric Blanket Market Anticipates US$ 2.3 Billion Valuation by 2034, Driven by 6.5% CAGR
Electric blanket sales increasing steadily due to integration of advanced technologies such as automated shut-off timers and voice control systems
ROCKVILLE, MARYLAND, UNITED STATES, June 10, 2024 /EINPresswire.com/ -- According to this revised and detailed industry analysis by Fact.MR, the global electric blanket market is set to increase from a size of US$ 1.2 billion in 2024 to US$ 2.3 billion by the end of 2034, with market expansion being bolstered by technological advancements in these products, such as enhanced safety features, energy-efficient designs, and smart functionalities to improve user experience.Recent developments in the electric blanket market, such as shifting customer tastes and increasing interest in advanced temperature-control electric blankets, are leading to market growth. Electric blankets are being preferred over conventional home heating gadgets such as heaters, heating cables, or central and district heating systems as they are more energy-efficient.
Electric blankets usually come with multiple heat settings, allowing users to adjust the warmth to their desired level of comfort. More advanced models can even have separate controllers so that each side of the blanket has a different temperature.
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Key Takeaways from Market Study
The global market of electric blankets is projected to reach US$ 1.2 billion by 2024-end.From 2024 to 2034, the market is forecasted to expand at a CAGR of 6.5%.The market is projected to reach US$ 2.3 billion by 2034.
The North American market is forecasted to expand at a CAGR of 7% from 2024 to 2034.Worldwide sales of electric over blankets are estimated at US$ 400 million for 2024.
East Asia is estimated to account for 22.9% share of the global market in 2024.Under blankets are projected to occupy a market share of 32.6% in 2024.The market in Canada is projected to expand at a CAGR of 7.8% through 2034.
“Innovative designs, such as 2-in-1 electric blankets, are attracting consumers as they are used as both over and under blankets. Such innovations are contributing to sales of electric blankets,” says a Fact.MR analyst.
Market Benefiting from Expansion of Distribution Channels
Sales of electric blankets are increasing due to the expansion of distribution channels, particularly e-commerce sites and specialty stores, which are significantly boosting consumer access to electric blankets. Customers now choose from a larger assortment of electric blankets thanks to the convenience of online shopping and the diversity of items supplied by specialty stores.
The increasing level of accessibility promotes market development by making items more available and serving a wide range of clients. As a result, providers of electric blankets benefit from increasing market reach and sales opportunities. Growing international trade and globalization are fueling electric blanket market growth by facilitating cross-border product exchange and broadening market accessibility.
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Country-wise Insights
In terms of market share for electric blankets in North America, the United States is projected to hold 64.2% in 2024. Comfort is highly valued by the nation's diverse and sizable populace. The United States has different climate zones, with mild to warm temperatures in the south and frigid winters in the north. Because they are said to give therapeutic warmth, electric blankets are becoming more and more popular in the US, especially for those with poor circulation, arthritis, or aching muscles.
China is predicted to have a 62.3% market share in East Asia in 2024. Due to China's robust manufacturing infrastructure and easy access to affordable raw materials, electric blankets are widely available. In comparison to other nations like the US, Japan, and Canada, electric blankets are less expensive in China due to their widespread availability. The use of electric blankets is being encouraged by the development of technology-based consumer goods.
Category-wise Insights
Electric blankets are frequently used on mattresses in residential settings and are primarily intended for the user's comfort. They are used by people to improve their quality of sleep, ease muscle tension, and stay warm on chilly evenings.
Electric blankets include three product types: electric pads, under blankets, and over blankets. Whereas under blankets are only used in bed, over blankets are useful in many situations. An electric blanket or throw's main benefit is its portability, which allows it to readily cover a large area or the entire body. The 2-in-1 electric blanket is a modern design that serves as both an under and an over blanket. Electric blanket sales are increasing because to its useful design.
By 2034, polyester material is anticipated to hold a 33.5% market share in the electric blanket sector. The two materials most frequently utilized to make electric blankets are polyester and wool. Electric blankets composed of polyester are generally preferred by customers because of its adaptable, soft, and easily washable fabric. In addition, it costs less than other materials while still being just as comfortable.
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