Stable Yet Potential – Global Dryer Vents Market to Offer Close to US$ 200 Million of Incremental Opportunity

Stable Yet Potential – Global Dryer Vents Market to Offer Close to US$ 200 Million of Incremental Opportunity

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.

“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.

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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.

Semi Rigid Vents Capture Significant Share, Flexible Vents Gain Traction

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.

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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.

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Considering the nature of the product, durability and enhanced safety continue to remain the influencing factors for the dryer vents landscape. Manufactures are thus investing in R&D to further create versatile product portfolios, which focus on improved exhaust performance of dryers, reduced fire hazards, and energy efficiency. The study opines that maintaining a constant commitment to product innovation and surpassing product quality expectation will also remain the key focus areas of stakeholders, in the view of evolving regulatory framework and end user preferences.

Fact.MR’s research study offers a perspective on the growth prospects of the global dryer vents market for the period between 2019 and 2029. The global dryer vents market is anticipated to register a volume CAGR of 3.5% during the forecast period.

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