Electric Hair Dryer Market

The article discusses the increasing demand for electric hair dryers globally, with projections for market growth in volume and value terms until 2030. It covers consumption trends, market values, production levels, imports and exports, as well as price fluctuations and key players in the market.

Market Forecast

Driven by increasing demand for electric hair dryers worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +3.3% for the period from 2022 to 2030, which is projected to bring the market volume to 386M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.4% for the period from 2022 to 2030, which is projected to bring the market value to $8.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Electric Hair Dryers

In 2022, the amount of electric hair dryers consumed worldwide fell slightly to 299M units, approximately mirroring 2021 figures. Over the period under review, the total consumption indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -7.7% against 2019 indices. Global consumption peaked at 323M units in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

The global electric hair dryer market revenue contracted modestly to $5.4B in 2022, dropping by -2.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, showed a resilient increase. Over the period under review, the global market hit record highs at $5.5B in 2021, and then fell slightly in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were the United States (72M units), China (54M units) and Japan (20M units), with a combined 49% share of global consumption. Russia, Germany, Italy, South Korea, India, France, Thailand, Taiwan (Chinese), the UK and Australia lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +20.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($1.3B), Japan ($913M) and China ($440M) constituted the countries with the highest levels of market value in 2022, together accounting for 50% of the global market. Russia, Australia, Germany, South Korea, Italy, the UK, France, Thailand, Taiwan (Chinese) and India lagged somewhat behind, together comprising a further 28%.

Italy, with a CAGR of +18.8%, saw the highest growth rate of market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of electric hair dryer per capita consumption in 2022 were the United States (216 units per 1000 persons), Australia (187 units per 1000 persons) and Italy (172 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +19.4%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Electric Hair Dryers

In 2022, approx. 324M units of electric hair dryers were produced worldwide; approximately mirroring 2021 figures. In general, production continues to indicate a resilient expansion. The growth pace was the most rapid in 2018 with an increase of 76% against the previous year. Global production peaked at 337M units in 2019; however, from 2020 to 2022, production remained at a lower figure.

In value terms, electric hair dryer production reduced modestly to $4.5B in 2022 estimated in export price. Overall, production posted a buoyant increase. The pace of growth appeared the most rapid in 2019 with an increase of 34% against the previous year. As a result, production reached the peak level of $4.8B. From 2020 to 2022, global production growth remained at a somewhat lower figure.

Production By Country

China (184M units) constituted the country with the largest volume of electric hair dryer production, comprising approx. 57% of total volume. Moreover, electric hair dryer production in China exceeded the figures recorded by the second-largest producer, the United States (48M units), fourfold. Russia (12M units) ranked third in terms of total production with a 3.7% share.

In China, electric hair dryer production expanded at an average annual rate of +3.9% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: the United States (+9.8% per year) and Russia (+9.3% per year).

Imports

World Imports of Electric Hair Dryers

Global electric hair dryer imports was estimated at 140M units in 2022, with an increase of 2.8% against the previous year. The total import volume increased at an average annual rate of +2.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of 10%. Global imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, electric hair dryer imports skyrocketed to $2.6B in 2022. Overall, imports showed buoyant growth. The growth pace was the most rapid in 2017 with an increase of 20%. Over the period under review, global imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports By Country

In 2022, the United States (25M units), distantly followed by Germany (10M units), Japan (9.5M units) and India (6.5M units) were the largest importers of electric hair dryers, together generating 36% of total imports. The following importers - the UK (5.6M units), Taiwan (Chinese) (5.5M units), France (5.5M units), Russia (5.5M units), Italy (4.9M units), the United Arab Emirates (3.9M units), Iraq (3.6M units), South Korea (3.6M units) and Brazil (3.5M units) - together made up 30% of total imports.

From 2012 to 2022, average annual rates of growth with regard to electric hair dryer imports into the United States stood at +1.6%. At the same time, Iraq (+29.4%), India (+20.7%), Taiwan (Chinese) (+13.9%), the United Arab Emirates (+12.9%), South Korea (+10.3%), Russia (+5.0%), Germany (+3.1%), France (+1.9%), Italy (+1.8%) and the UK (+1.4%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the world, with a CAGR of +29.4% from 2012-2022. By contrast, Japan (-1.1%) and Brazil (-1.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of India, Taiwan (Chinese), Iraq and the United Arab Emirates increased by +3.7, +2.5, +2.3 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest electric hair dryer importing markets worldwide were the United States ($381M), Japan ($203M) and Germany ($188M), together comprising 29% of global imports. The UK, France, Italy, South Korea, Taiwan (Chinese), Russia, the United Arab Emirates, Brazil, India and Iraq lagged somewhat behind, together comprising a further 22%.

Among the main importing countries, Iraq, with a CAGR of +20.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average electric hair dryer import price amounted to $19 per unit, rising by 12% against the previous year. Over the period under review, import price indicated a prominent expansion from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electric hair dryer import price increased by +74.4% against 2014 indices. The pace of growth appeared the most rapid in 2017 when the average import price increased by 18%. Over the period under review, average import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Japan ($21 per unit), while India ($2.8 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+8.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Electric Hair Dryers

Global electric hair dryer exports reached 166M units in 2022, picking up by 3.4% compared with 2021. Over the period under review, total exports indicated a moderate increase from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +16.2% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 53%. Over the period under review, the global exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, electric hair dryer exports expanded notably to $2.2B in 2022. In general, exports saw a prominent expansion. The pace of growth appeared the most rapid in 2021 when exports increased by 22% against the previous year. Over the period under review, the global exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports By Country

China dominates exports structure, recording 131M units, which was near 79% of total exports in 2022. Germany (4.8M units), Thailand (3.9M units), the Netherlands (3.4M units), Italy (3.1M units) and France (2.5M units) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +4.6% from 2012 to 2022. At the same time, the Netherlands (+22.5%), Germany (+5.4%) and France (+3.1%) displayed positive paces of growth. Moreover, the Netherlands emerged as the fastest-growing exporter exported in the world, with a CAGR of +22.5% from 2012-2022. Italy experienced a relatively flat trend pattern. By contrast, Thailand (-2.3%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China and the Netherlands increased by +3.8 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($1.3B) remains the largest electric hair dryer supplier worldwide, comprising 59% of global exports. The second position in the ranking was held by Germany ($128M), with a 5.7% share of global exports. It was followed by Italy, with a 4.1% share.

In China, electric hair dryer exports expanded at an average annual rate of +11.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+7.7% per year) and Italy (+1.6% per year).

Export Prices By Country

In 2022, the average electric hair dryer export price amounted to $13 per unit, surging by 11% against the previous year. Overall, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electric hair dryer export price increased by +36.2% against 2018 indices. The pace of growth was the most pronounced in 2015 an increase of 47%. The global export price peaked at $16 per unit in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($29 per unit), while China ($9.9 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.4%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform