Region - North America, Latin America, Europe, Asia Pacific, Middle East & Africa;
New York, NY -- (SBWIRE) -- 04/09/2018 -- Electric blankets are heating blankets with built-in heating elements that help in maintaining a desired temperature even in a cold room. Electric blankets are mostly preferred to reduce overall home heating costs. These are opted for both residential as well as commercial purposes. A new research report by Persistence Market Research titled 'Electric Blanket Market: Global Industry Analysis 2012-2016 & Forecast 2017-2025' presents a brief overview of the global electric blanket market.
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According to the research report, the global electric blanket market is expected to expand and reach a market value of over US$ 1,200 Mn by the end of 2025. The market is expected to grow at a robust CAGR of 7.1% during the forecast period 2017-2025. The increase in demand is a result of the unique features of electric blankets such as high durability, low cost, and long lasting feature, as well as these being inherently safer from overheating.
With technological advancements taking place in every industry, people are shifting their preference towards more convenient and technology driven products available in the market. This has helped the heating appliance industries to grow, in turn driving the demand for electric blankets. Manufacturers of electric blankets are focusing on introducing novel products in the market to expand their customer base along with increasing market penetration.
Additionally, consumers are demanding heating appliances that are less expensive with high efficiency. The trends emerging in the market exhibit a growing demand for waterproof and stain resistant electric pads. Newer innovations have also helped manufacturers introduce electric blankets that combat pests. Businesses can make good use of these opportunities and compete efficiently in the global market.
Based on product type, the over blankets segment leads the global market with the maximum revenue share and high growth rate projected during the forecast period. However, the under blankets segment is expected to project the highest CAGR during the forecast period.
Based on end users, the residential sector leads with a high margin. The residential segment is expected to reach a market value of over US$ 800 Mn by the end of 2025, growing at a CAGR of 7.3% during the forecast period.
On the basis of sales channel, organized retail dominates the global market with a higher market share, whereas the online channel projects the highest growth rate during the forecast period.
In terms of region, North America is expected to witness maximum revenue share by the end of 2027. However, APAC is anticipated to depict the highest growth rate during the forecast period.
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The report consists of a brief profile of all the major players currently operating in the global electric blanket market. Some of these key players mentioned in the report are Jarden Corporation, Shanghai Shenda Co. Ltd., Beurer GmbH, Biddeford Blankets, LLC, Snugnights UK LLP, Slumberdown Company, PIFCO, Shavel Associates Inc., Silentnight Group Ltd., CDB Goldair Australia Pty LTD, Glen Dimplex Group etc.