LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global residential dehumidifiers market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Residential dehumidifiers are used for controlling moisture levels at home. They are also being integrated into heating, ventilation, and air conditioning (HVAC) systems and air coolers. The humidifiers come in portable and whole-home formats. The most widely used dehumidifiers are portable dehumidifiers, constituting more than 80% of the sales in the residential dehumidifiers market. Whole-home dehumidifiers are also trending in the market due to their integration into HVAC systems and other advantages such as better air filters, hassle-free maintenance, and short replacement cycle.
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The top three emerging trends driving the global residential dehumidifiers market according to Technavio research analysts are:
- Development of innovative technologies and techniques
- Growing online and omnichannel sales
- Exchange offers for old dehumidifiers
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Development of innovative technologies and techniques
Homeowners are becoming increasingly health conscious and aware of the benefits of humidity control for treating conditions such as allergies and asthma. Several manufacturers are discussing how clothing, food products, and even books can be kept in better surroundings and not develop dust mites or mildew.
“A new technology called the membrane technology is capable of rejecting humidity from spaces and provide ventilation to control the indoor environment. An efficient combination of home systems, products, and control is being developed to sustain a space in the ideal range, which is inhospitable to microorganisms, mildew, mold, and other toxic species, yet with enough moisture to prevent irritation to lung tissue and sinus,” says Narendra Nandaigiri, a lead analyst at Technavio for research on home, kitchen, and large appliances.
Growing online and omnichannel sales
E-retailing is the fastest growing segment of the global residential dehumidifiers market due to its time-saving and cost-effective process of purchasing products. Amazon, Walmart stores, and Alibaba.com are the key retailers in the market. The increasing number of online websites offering a wide range of dehumidifiers has increased the demand for residential dehumidifiers, especially among consumers who work full time and seek easy accessibility and convenience.
“Online shopping through smart devices has also gained popularity over the years because of the growing penetration of internet services, improved economy, and enhanced purchase and delivery options with the emergence of m-commerce. M-commerce is anticipated to account for almost half of the global e-commerce market by 2019. Online websites provide detailed information on products including safety measures, quality, and user guidance, which has also increased the popularity of e-retailing among customers,” adds Narendra.
Exchange offers for old dehumidifiers
Retailers and contractors receive most of their profits from the replacement market, as most residential dehumidifiers have a lifespan of approximately 1-5 years, leading to several retailers and contractors making high profits. For instance, in 2017, the Cape Light Compact Company partnered with local appliance stores on Cape Cod to offer residential electric customers at USD 30 rebate for recycling old, working dehumidifiers.
The company would not only replace the dehumidifier but also help in saving household energy consumption. Also, as an added benefit, the company provides an additional USD 30 rebate for users who purchase a dehumidifier that is certified with the Energy Star. Thus, with such offers made by recycling companies, the demand for dehumidifiers, as well as the replacement market for residential dehumidifiers, is expected to increase during the forecast period.
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