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 Blankets Market Size by Product Type (Over Blankets, Under Blankets, Electric Pads), End-User (Residential, Commercial), And Region Global Market Analysis and Forecast, 2022-2028’ presents a brief overview of the global Electric Blankets market. According to the research report, the global Electric Blankets market is expected to expand and reach a market value of over US$ 1.5Bn by the end of 2028. The market is expected to grow at a robust CAGR of 5.9% during the forecast period 2022-2028. 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.
Global Electric Blankets Market: Trends and Opportunities
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.
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Global Electric Blankets Market: Segmental Analysis
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 commercial segment is projected to have maximum market growth in the Electric Blankets during the forecast year. An Electric Blankets has high demand in hotels and hospitals. Most hotels use electric blankets to provide excellent service for tourism.
In terms of region, North America is expected to witness maximum revenue share by the end of 2028. However, APAC is anticipated to depict the highest growth rate during the forecast period.
Global Electric Blankets Market: Competitive Landscape
The report consists of a brief profile of all the major players currently operating in the global Electric Blankets market. Some of these key players mentioned in the report areChengdu Rainbow Appliance (China),Sunbeam Products (US),Caiyang (Malta),Shanghai Xiaomianyang Electric,Qingdao Qindao Electric (China),MORITA,Sojoy,Beurer (Germany),Tenacta Group,Glen Dimplex (Morphy Richards and Dimplex) (Europe),Slumberdown (UK),Bokuk Electronics (South Korea),Silentnight,Biddeford Blankets (US),Shijiazhuang Mengjie Industry (China),Snugnights UK LLP (UK),Medisana, and other major players.
Market Segment by Regions and Countries Level Analysis:
· North America (U.S., Canada, Mexico)
· Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
· Asia-Pacific (China, India, Japan, Southeast Asia, Rest of APAC)
· Middle East Africa (GCC Countries, South Africa, Rest of MEA)
· South America (Brazil, Argentina, Rest of South America)
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Recent trends and developments in the global Electric Blankets market have been analyzed. Opportunities leading to the growth of the market have been analyzed and stated. Drivers and restraints impacting the growth of the market have also been analyzed. A segmentation of the global Smart market has been done for the purpose of a detailed study. The market is segmented on the basis of key criteria. Data on the leading and fastest-growing segments along with what drives them has been given. This report implements a balanced mix of primary and secondary research methodologies for its analysis.
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