NOIDA, India, Feb. 28, 2023 /PRNewswire/ -- According to a new report published by UnivDatos Markets Insights, the electric blankets market was valued at USD 410 Million and is expected to grow at a steady rate of around CAGR of 7% from 2022 to 2028. The analysis has been segmented into Product type, Sales Channel type, End User type; Region/Country.
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The electric blankets market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the electric blankets market. The electric blankets market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the electric blankets market at the global and regional levels.
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Market Overview
The industry is being driven by the increasing integration of technological improvements in consumer convenience goods and equipment. Innovative features like water-resistant blankets, battery-operated blankets with mobile charging ports, and lightweight, robust, machine-washable blankets are also sought after by manufacturers. Due to additional advantages like machine-washable and stain-resistant electric blankets, its use is more hygienic and convenient. For instance, in October 2019, Xiaomi Corporation, a leading name in Chinese technology, unveiled the PMA smart electric blanket which function through Xiaomi app. This technological enhancement helps to expand the electric blankets market.
Some of the major players operating in the market include Argos Limited; Beurer GmbH; Biddeford; CDB Goldair Pty Limited; Glen Dimplex Group; MAXSA Innovations; Morphy Richards; Shavel Home Products; Silentnight Group Limited; Sunbeam Products, Inc.
COVID-19 Impact
Nearly all market segments have been impacted by the global spread of COVID-19, and the electric blanket market is not exempt from its negative impacts. The demand for electric blankets has decreased in 2020 as a result of trade restrictions, lockdowns, and manufacturing limitations. With the virus being contained globally, the market will gradually begin growing at its prior rate.
- Based on product type, the market is segmented into over blankets and under blankets. Under blankets segment to witness higher CAGR during the forecast period due to cold climate and long winters in North America and Europe region. Under blankets usually run for just a couple of pence a night and much cheaper than central heating and it is also good for uneven surfaces such as sofa and cold floor. These are some reasons which makes under blankets more popular and demandable.
- Based on sales channel type, the market is segmented into online and offline. Offline sales channel segment expected to dominate the market during the forecast period from 2022 to 2028. The popularity of offline sales and distribution channels has been greatly influenced by the physical presentation of products and the possibility to examine product attributes. Retail, department, and specialty stores are the next most popular offline retailers among American consumers, who also prefer buying from mass merchants.
- Based on end user type, the market is segmented into commercial and residential. Residential segment to be the fastest growing in the electric blankets market due to rising consumer disposable income and a rise in home ownership in various developing nations. Over the next several years, it's anticipated that changing lifestyles and the arrival of practical consumer products based on technology will increase the use of electric blankets. Demand for products has been driven by affordability, comfort, and advantages across a range of consumer age groups, particularly among people with conditions like fibromyalgia, arthritis, muscle pains, nasal issues, and painful menstruation.
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Electric Blankets Market Geographical Segmentation Includes:
- North America (United States, Canada, and Rest of North America)
- Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
- Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
- Rest of the World
Asia-Pacific region is anticipated to hold a significant share of the global electric blanket market by the end of the forecast period. In China, electric blankets are getting more and more popular, leading to market dominance. The market's dominance has been facilitated by the expanding use and accessibility of electric blankets in China. For instance,China is a major supplier of electric blankets and purchases around 30 million pieces of electric blankets every year since they are widely available, increasingly inexpensive, and offered in department shops as well as garage sales.
The major players targeting the market include
- Argos Limited
- Beurer GmbH
- Biddeford
- CDB Goldair Pty Limited
- Glen Dimplex Group
- MAXSA Innovations
- Morphy Richards
- Shavel Home Products
- Silentnight Group Limited
- Sunbeam Products, Inc.
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the electric blankets market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
- What are the latest trends, new patterns, and technological advancements in the electric blankets market?
- Which factors are influencing the electric blankets market over the forecast period?
- What are the global challenges, threats, and risks in the electric blankets market?
- Which factors are propelling and restraining the electric blankets market?
- What are the demanding global regions of the electric blankets market?
- What will be the global market size in the upcoming years?
- What are the crucial market acquisition strategies and policies applied by global companies?
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About UnivDatos Market Insights (UMI)
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Electric Blankets Market Report Coverage
Report Attribute | Details |
Base year | 2021 |
Forecast period | 2022-2028 |
Growth momentum | Accelerate at a CAGR of over 7% |
Market size 2021 | USD 410 million |
Regional analysis | North America, Europe, APAC, Rest of World |
Major contributing region | APAC to Dominate the Global Electric Blankets Market |
Key countries covered | United States, Canada, Germany, United Kingdom, Spain, Italy, France, China, Japan, India, and Australia |
Companies profiled | Argos Limited; Beurer GmbH; Biddeford; CDB Goldair Pty Limited; Glen Dimplex Group; MAXSA Innovations; Morphy Richards; Shavel Home Products; Silentnight Group Limited; Sunbeam Products, Inc. |
Report Scope | Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Demand and Supply Side Analysis; Competitive Landscape; Company Profiling |
Segments Covered | By Product Type; By Sales Channel Type; By End User Type; By Region/Country |
About UnivDatos Market Insights
UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.
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