Dryer Vents Market Share, Growth by Top Company Forecast to 2029
Added: (Wed Oct 09 2019)
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According to a new study by Fact.MR, global sales of dryer vents are estimated to reach 45 million units in 2019, up from 43.7 million units in 2018. Gains remain primarily driven by rapid expansion of the laundry industry, in the view of rising demand for service-based businesses and increasing number of Laundromat in both developed and developing countries.
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“With increasing implementation of stringent policies on several dryer vent designs, manufacturers are continuously differentiating their products from the traditional variants. New solutions such as ‘Dryer Vent Made Easy (DVME)’ and ‘Hide-a-Vent’ are not only improving the functionalities but also adding value to the overall aesthetics of any exterior siding or structure,” says the analyst at Fact.MR.
As per the report, consistently improving lifestyle in urban areas has been subsequently leading to an increasing adoption of large capacity vented dryers, in both residential and commercial sectors. This demand growth, according to Fact.MR’s analysis, has been boosting dryer vent sales as they accelerate the drying of clothes and control the process of lint formation. In addition, with the emergence and rising popularity of mobile apps for laundry and dry cleaning services in line with the thriving trends of convenience and digitalization, the application scope of dryer vents has been witnessing a brisk increase. However, enforcement of strict rules to address the rising fire incidences due to lint-filled vents may continue to constrain the growth of dryer vents market.
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While widespread adoption of semi rigid dryer vents – accounting for ~50% revenue share – continue to impact developmental strategies of key players in the market, manufactures are focusing on increasing the production of flexible variants for optimum compatibility with any complex structure in buildings. According to the study, a number of building codes prohibit the use of plastics in venting systems as they may easily catch lint and be crushed where they exit the dryer and enter the floor of wall. Manufacturers thus are emphasizing the use of aluminum or steel for dryer vent designs that meet the respective code requisites and ensure safety.
The report opines that as the airflow restrictions within dryer vents are considered a potential fire hazard, several components and accessories continue to witness innovations. Apart from ducts and pipes, vent elbows are increasingly incorporated in most venting systems that can turn at a right angle in limited spaces, without restricting the flow of exhaust air. Manufacturers are further working on protecting the vent from getting squished and minimizing the lint build-up.
As per the study, North America and Europe continue to offer higher opportunities attributing to strong presence of market players within these regions, in addition to the established laundry industry. Key market players are leveraging third party online sales channels for better penetrating in untapped markets, and thereby gaining a distinct competitive edge. Product promotions and sales through E-commerce sites enable end users to navigate a wide range of product offerings and avail the best possible deals, which in turn, will work to the advantage of dryer vents market players.
To learn more about how the key growth influencers are shaping the market landscape, request for the Sample Report at: https://www.factmr.com/connectus/sample?flag=S&rep_id=538
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