The Garment Steamer Market will grow at highest pace owing to...

The Garment Steamer Market will grow at highest pace owing to growing fashion industry

Posted 2024-10-28 06:45:36

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The global garment steamer market is estimated to be valued at US$ 1.2 Billion in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period 2024 to 2031.

With advantages like portability, ease of use, and swift wrinkle removal, the garment steamer has emerged as an indispensable solution for both commercial and household laundering needs. The rising working professional population coupled with increasing disposable incomes has boosted the sales of garment steamers globally.

Key Takeaways
Key players operating in the garment steamer market are Koninklijke Philips N.V., Panasonic Corporation, Shanghai Biyong Electric Co., Ltd., Conair Corporation, Usha International Ltd., Frigidaire, Jiffy Steamer, Sears Brands, and Phandin.

The growing fashion industry with an increasing Garment Steamer Market Demand for formal attires from working professionals and rising disposable income levels are fueling the demand for garment steamers worldwide.

The Garment Steamer Companies are expanding their presence across international markets like Asia Pacific, Middle East, and Africa to tap the growth opportunities.countries like China, Japan, and India are witnessing rapid urbanization with changing lifestyles which is propelling the sales of garment steamers.

Market Drivers
The hectic schedules of working professionals leave little time for extended laundry cycles forcing them to opt for quick and convenient wrinkle removal solutions like garment steamers. The ease of use and portability of garment steamers make them ideal for travel as well which is driving their sales. The growing fashion consciousness among millennials and individuals further boosts the demand.

The ongoing geopolitical tensions and conflicts are impacting the growth of the garment steamer market globally. Many economies around the world are experiencing uncertainty due to rising political and economic instability along with changing trade policies. This is negatively impacting consumer spending in the affected regions. Manufacturers are facing disruptions in sourcing raw materials and components from conflict-hit regions. Rising fuel and transportation costs due to volatility in oil prices are increasing operational expenses for manufacturers.