Electric Blanket Market CAGR Projected to Grow at 7.1% through 2025
Added: (Thu Dec 06 2018)
Research Report Insights (RRI)delivers key insights on the global Electric Blanketmarket in its upcomingoutlook titled, “Electric Blanket Market by 2025”. In terms of value, the global electric blanketmarket is projected to register a healthy CAGR of 7.1% during the forecast period due to various factors,regarding which RRI offers vital insights in detail.
Nowadays, consumers are spending a lot to keep their houses warm as well as properly insulated during the winters. There are various ways through which people can do that. However, today, a new type of blanket is dominating the market - electric blanket. These blanket can be warmed before use. Electric blanket are getting attention among consumers, owing to their various benefits, such as allowing consumers to access multiple features and delivering maximum comfort. Therefore, owing to increasing consumer awareness, coupled with the advantages associated with the product, the North American electric blanket market is expected to grow in the near future.
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When the warmness generated by a home heating system is not enough, an electric blanket helps in keeping the user warm and cozy, along with minimizing the overall home heating cost. Though electric blanket consume small amounts of energy as compared to a furnace, these devices can still increase the monthly electric bill. However, if the user operate the electric blanket at less than the maximum temperature setting, it may save overall heating costs.
A warm, cozy electric blanket is attractive to many people all through the winter months. Electric blanket usually save money related to turning up the heat when the temperature decreases, but they also present some dangers. Like any electric appliance, electric blanket can present fires hazard in the house that can damage property and threaten lives. This can be a hindrance to the electric blanket market.
Quality has taken on a new level of industrial standing for manufacturers. Brand image is lost by offering low quality products to end users. Thus, the safely of electrical equipment has been protected by various stringent government quality standards at regionals levels, i.e. Community legislation (Directive 73/23/EEC), concerning the safety of electric heated blanket, and similar flexible heating appliances for commercial as well as household use.
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UL (Underwriters Laboratories) is a safety certification organization that has been testing products and writing quality standards for over 100 years. UL develops a comprehensive set of electric blanket safety standards for the US market. All brands must issue safety recommendations with their products in compliance with UL standards. Additionally, one should not buy an electric blanket that does not show a UL (Underwriters Laboratories) or ETL mark on it.
This report covers trendsdriving each segment and offers analysis and insights of the potential of the electric blanketmarket in specific regions. Asia Pacificis expected to register high growth rates between 2017 and 2025. North America is expected to remain the largest market through 2025, followed by Europe. North America region accounted for 39.5% value market share in 2016 and is expected to account for 39.4%market share by 2025. In terms of volume, Asia Pacificis expected to register significant CAGR during the forecast period.
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Detailed profiles of the providers are also included in the scope of the report to evaluate their long-term and short-term strategies, key offerings and recent developments in the electric blanketspace. Electric blanketkey players include Jarden Corporation, Shanghai Shenda Co. Ltd., Beurer GmbH, Morphy Richards Ltd., Biddeford Blanket, LLC, Snugnights UK LLP, Slumberdown Company, PIFCO, Shavel Associates Inc., Silentnight Group Ltd., CDB Goldair Australia Pty LTD, Glen Dimplex Group, MAXSA Innovations, E&E Co. Ltd. and Shijiazhuang Mengjie Industry Co. Ltd.
Submitted by:Vikas Bahurupi