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Travel Irons Market Report
Travel Irons Market Trends, Dynamics & Market Insights
Travel Irons Market, By Type (Less than 1LB, Above 1LB), By Distribution Channel (Specialty Retailers, Department Stores, Supermarkets and Hypermarkets, Discount Stores), and Region - COVID-19 Impact Analysis and Forecast to 2026.
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global travel irons market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
The Travel Irons Market is projected to grow from USD xx million in 2020 to USD xx million by 2026 at a CAGR of over 4.2% during the forecast period.
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Travel irons are comparable to the conventional irons that one uses at home or laundry. These irons are handheld devices that are used to clear wrinkles from the garments. Its compact nature and small size is the main difference between travel irons and ordinary irons. These irons are easy to pack and carry while going on trips.
Key players operating in the travel irons market are-
With the rise in travel activities for leisure as well as business, the demand for travel irons is expected to grow substantially in the coming years. Also, ease of use and carrying for leisure & business travelers propel the product demand. In addition, it is a cheaper alternative to ordinary irons and also includes innovative features, which spurs the demand for travel irons across the globe. However, many hotels have started offering irons to their customers, which is likely to hinder the industry growth.
By distribution channel, the travel irons market has been classified into specialty retailers, department stores, supermarkets and hypermarkets, and discount stores. Under these, the specialty retailers segment accounted for the largest market share in 2020. These stores possess a wide range of brands and several product portfolios both brand-specific as well as multi-branded and sell similar types of products across all outlets. Consumers opt for these stores because of their brand coverage and broad product portfolio, thus augmenting the segment growth.
By region, the market in the Asia Pacific accounted for a significant market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The domestic consumption in the region is rising faster than the overall economic growth mainly due to the increasing spending on consumer goods by the emerging middle-class populace. Also, the high popularity of web-enabled mobile devices that facilitates online booking is a key factor spurring regional growth during the review period.
The COVID-19 outbreak negatively impacted the growth of the travel irons market negatively. The travel & tourism sectors were hit significantly amid the pandemic. Most governments have enforced lockdown in their countries to curb the spread of the pandemic. This in turn affected the product demand significantly amid the pandemic.
Here is the list of the group of customers that the travel irons market hopes to have the greatest opportunity to convert-
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The travel irons market is expected to witness an impressive growth of 4.2% CAGR in the coming years.
Conair (US), Koninklijke Philips (Netherlands), NACCO Industries (US), Panasonic (Japan), Row-enta (Germany), Sunbeam Products (US), Bharat Light Machine (India), Fabiano (India), Korjo (Australia), and Morphy Richards (UK) are among the key players in the travel irons market.
Rise in travel activities for leisure as well as business, ease of use and carrying for leisure & business travellers are the factors driving the growth of travel irons market.
The specialty retailers segment accounted for the largest share in the travel irons market in 2020.
Asia-pacific is expected to grow at a significant CAGR in the travel irons market in the coming years.
Travel Irons distributors, Travel Irons suppliers, Travel Irons manufacturers, Logistics organizations, Government bodies are the target audience in the travel irons market.
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