The global electric iron products market was valued at USD 8.5 billion in 2022 and is projected to expand at a CAGR of 6.2% from 2023 to 2030. An increase in the number of households, especially in developing countries, is driving the demand for electric iron products, as they are an essential household item. In addition, a rise in disposable income is also leading to an increase in the demand for premium electric iron products. Furthermore, technological advancements in electric iron products have been a major factor driving the market growth.

Manufacturers are focusing on introducing new and innovative products to meet the evolving needs of the consumers. For instance, in May 2021, Philips launched a new range of premium steam irons with TitaniumGlide soleplates and steam infusion technology. This product range provides precise control over the steam and fabric settings, allowing the user to adjust the temperature and steam levels to suit the type of fabric being ironed, thereby providing superior steam performance. Furthermore, with the introduction of new features such as automatic shut-off and self-cleaning, manufacturers are introducing more advanced and user-friendly electric iron products.

The rising demand for convenience and smart home appliances is driving the electric iron product market. With the increasing popularity of smart homes, consumers are opting for home appliances that can be controlled with a smartphone app. For instance, in October 2020, Whirlpool launched a smart iron with an app-based remote control. This product allows users to adjust the temperature, steam, and fabric settings from their smartphone. Furthermore, the product also has a suggestion feature that recommends the ideal temperature and steam level for different fabrics.

The rising trend of online shopping is also driving the market. E-commerce has become a preferred platform for shopping for consumer appliances due to the convenience it offers. In addition, several online stores are providing discounts, offers, and cashback schemes, thereby increasing consumer preference for buying electric iron products through e-commerce platforms. Moreover, the presence of a wide variety of electric iron products on e-commerce websites has been a major factor driving the market growth.

The steam iron segment led the market and accounted for a share of around 51.7% in 2022. Increasing demand for steam irons with advanced features such as self-cleaning, anti-calc, spray, and auto shut-off is driving the growth of this segment. Additionally, the rising adoption of energy-efficient irons is creating lucrative opportunities for market players.

The dry iron segment is anticipated to expand at the fastest CAGR of 11.0% over the forecast period. Rising adoption of dry irons among consumers due to its lightweight and compact design, easy handling, and convenience are the primary factors driving the growth of this segment. Furthermore, rising trends for home-based ironing and the emergence of various dry iron brands are aiding the market growth.

The traditional retail stores segment accounted for a significant share of over 47.9% in 2022. The segment is majorly driven by the increasing presence of traditional retail stores in rural areas. Moreover, traditional stores offer customers a wide variety of electric irons, which is not available online. Furthermore, customers prefer to purchase electric irons after inspecting them physically, which makes traditional stores the preferred choice among consumers.

The e-commerce segment is anticipated to witness the highest CAGR of 13.4% during the forecast period. The rising popularity of online shopping among consumers is expected to be the major factor driving the segment. Moreover, customers can find a wide variety of electric irons from various brands on online stores. In addition, e-commerce websites and apps provide discounts and offers that reduce the overall cost of purchase for consumers, which is further expected to drive the segment growth.

The dry iron segment accounted for the highest revenue share of 58.2% in the year 2022. The increasing demand for dry irons due to the low maintenance cost and the availability of various features such as temperature control, steam burst and self-cleaning are some of the factors driving the growth of this segment. Furthermore, the increasing fashion and lifestyle trends among the masses in developing countries such as India, South Africa, and Brazil have increased the demand for dry iron products.

The steam iron segment is expected to grow at a CAGR of 8.9% over the forecast period. The rising demand for steam iron due to its capability to remove wrinkles from clothes quickly and the availability of features such as temperature control, auto shut-off and self-cleaning are driving the growth of this segment. Moreover, the increasing awareness of maintaining the fabric of clothes among the population is also driving the demand for steam irons.

Europe is expected to remain the largest market for electric irons and is expected to account for over 33.7% of the market share in 2022. The region is home to some of the leading manufacturers, such as Bosch and Philips, which is expected to further drive the market growth. Furthermore, increasing demand for energy-efficient products is expected to further fuel the growth of the market in Europe.

Asia Pacific is expected to witness the highest growth in the coming years. Growing awareness regarding energy-efficient products and the presence of numerous manufacturers in the region are the key factors propelling the growth of the market. Additionally, increased disposable income and rapid urbanization in countries such as India and China are also boosting the demand for electric irons in the region. Furthermore, in August 2021, Havells India Ltd. launched a new range of electric irons, which are designed to reduce energy consumption.

In this part of the electric iron products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions
The main source of revenues for an electric iron products business comes from sales of the products. Here you will find a list with a description of each of them and other possible sources of profit such as fundraising, the sale of related accessories, and leasing the place for parties and corporate events.

Projecting Expenses
In this section, all the regular expenses related to keeping the electric iron products business running will be described. The list of operating expenses includes wages, maintenance and repairs, utilities, insurance policies, advertising, and others. Additionally, there will be costs related to purchasing the electric irons, packaging materials, shipping, and inventory costs.

Some of the key companies operating in the electric iron market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In July 2022, Philips launched a new range of electric irons with advanced features such as automatic temperature control and a water spray feature.

– In August 2022, Panasonic launched the Nanoe iron with a built-in steam generator and a self-cleaning function.

– In September 2022, Havells launched the Xpress Iron with features such as automatic temperature control and a steam burst function.

Some of the prominent players in the electric iron market include:

– Philips
– Panasonic
– Havells
– Morphy Richards
– Usha International
– Crompton
– Bajaj
– Inalsa
– Singer
– Maharaja Whiteline

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global electric iron products market based on product type, distribution channel, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Steam Irons
– Dry Irons
– Travel Irons

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Potential Growth Opportunities for Electric Iron Products?
[A]: The increasing consumer preference for convenience and safety along with the rising disposable incomes of people is expected to drive the electric iron products market growth in the forthcoming years. The introduction of technologically advanced products with superior performance and efficient output is expected to create significant opportunities in the market. In addition, the growing demand for energy-efficient products and advancements in technologies are expected to further fuel the growth of the electric iron products market.

[Q]: Who are the Key Players in the Electric Iron Products Market?
[A]: Key players in the electric iron products market include Conair Corporation, Philips, Panasonic Corporation, Hamilton Beach Brands, Whirlpool Corporation, and Braun GmbH.

[Q]: Which Region Offers the Largest Opportunity for Sales of Electric Iron Products?
[A]: Asia-Pacific is expected to be the largest market for electric iron products. This is due to increasing consumer spending in the region, particularly in countries such as India, China, and Japan.

[Q]: What are the factors driving the electric iron products market?
[A]: Factors such as the increasing demand for convenient products, the rising disposable income of people, and the growing popularity of energy-efficient products are expected to fuel the growth of the electric iron products market. In addition, technological advancements and the introduction of technologically advanced products are expected to further drive market growth.