Europe, U.K., and Australia Electric Blanket Market is projected to surge to a valuation of US$ 3.76 Bn by the end of 2031
NEW YORK, April 07, 2022 (GLOBE NEWSWIRE) — Accounting for a net value of US$ 2.11 Bn in 2022, the Europe, U.K., and Australia electric blanket market is projected to reach US$ 3.76 Bn by the end of 2031.
Technological advancements have changed the consumer goods industry landscape, and more products are now technology-centric than ever before. Electric blankets have gained immense popularity in recent years owing to their unique features and good reception from consumers.
High prices of room heaters, increasing technological proliferation in consumer goods, and rising disposable income are expected to be major factors driving demand growth of electric blankets in Europe, U.K., and Australia. However, seasonal sales and effects on improper use are projected to have a hampering effect on market expansion over the coming years.
Key electric blanket suppliers are focusing on new launches to expand their sales potential and boost revenue generation all over Europe, the U.K., and Australia.
In February 2022, Aldi, a leading supermarket chain, was offering electric blankets for low as US$ 25, while most other chains start their range from US$ 50. These electric blankets are expected to see good sales in the European region due to their cost-effective nature and severe winter chills across the region.
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Key Takeaways from Market Study
- Sales revenue from the Europe, U.K., and Australia electric blanket market currently stand at US$ 2.11 Bn in 2022.
- Consumption of electric blankets in Europe, U.K., and Australia is predicted to rise at a CAGR of 6.6% from 2022 to 2031.
- Europe accounts for 82.9% of the overall market share at present.
- By 2031, the Europe, U.K., and Australia electric blanket market will reach a revenue of US$ 3.76 Bn.
“Increasing geriatric population and rising popularity of electric blankets in Europe, U.K. and Australia to drive market potential through 2031,” says a Persistence Market Research analyst.
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Competitive Landscape
The market for electric blankets in the U.K., Europe, and Australia is expected to see new launches from several market players operating in these regions in order to boost their sales potential.
Key market players profiled in the report are Shanghai Shenda Co. Ltd., Beurer GmbH, Morphy Richards Ltd., Biddeford Blankets 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.
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More Valuable Insights on Offer
Persistence Market Research released new market research on the Europe, U.K., and Australia electric blanket market, covering global industry analysis of 2016-2021 and forecasts for 2022–2031.
The Europe, U.K., and Australia electric blanket market study reveals compelling insights on the basis of product type (over blankets, under blankets, electric pads), price range (economy, mid-range, premium), size (single size, full/queen size, king size), material (wool, cotton, polyester, acrylic, other materials), end use (commercial, residential), and sales channel (direct, indirect), across three regions.
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