Ironing boards are used for ironing and steaming garments and clothing items and are indispensible household products needed for regular upkeep of clothes. Ironing boards are made of durable materials like wood, plastic, aluminum and other suitable materials that can withstand the heat of an iron. They come in convenient foldable designs that can be stored away compactly when not in use.
The global ironing boards market is estimated to be valued at US$ 2,491.9 Mn in 2024 and is expected to exhibit a CAGR of 7.2% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the ironing boards market are Bathla, Whitmor, Leifheit, Brabantia, Ybm Home, Widemex, Sunbeam, Minky, Mainstays, Brabantia, Faginey, Polder, Sullivans, Walfront, Homedora, Perilla, Mabel home, TIVIT, Whitmor, and Tidy Homz. Ironing boards serve the essential purpose of smoothing out garments and maintaining their good appearance. The rising demand for multipurpose, space-saving and portable ironing boards from households and laundromats has been a major factor contributing to market growth. The ironing boards market has also expanded globally with manufacturers focusing on markets in Asia Pacific and Latin America owing to growing demand from developing countries.
Market key trends
One of the major gaining traction in the Ironing Boards Market Demand is the rising popularity of compact and space-saving ironing boards. With more people living in small urban homes and apartments, there is a need for ironing boards that occupy minimal storage space but are easy to use. Foldable ironing boards that can be tucked away or mounted on walls suit this need perfectly. Manufacturers are innovating new compact designs that are portable and easy to store away. This key trend towards space-efficient ironing boards has been driving market revenues significantly.
Porter’s Analysis
Threat of new entrants: The ironing board market has moderate barriers to entry due to low setup costs and little capital requirements but established brands have strong brand loyalty.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes but quality and brand preferences influence their purchase decision.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to low switching costs and availability of substitute raw materials.
Threat of new substitutes: Threat of new substitutes is low as ironing boards have well-established use for ironing clothes but steam generators are emerging as alternatives.
Competitive rivalry: The market has many small and large players competing on the basis of price, quality, features and brand image.
Geographical Regions
North America accounts for the largest share of the global ironing board market in terms of value due to high demand for ironing boards from countries like the United States and Canada. The Asia Pacific region is expected to be the fastest-growing market during the forecast period owing to rising incomes, aspirations for a cleaner wardrobe and rapid urbanization in countries like India and China.
Europe holds a significant share of the global ironing board market due to high disposable incomes and preference for technologically advanced ironing boards amongst consumers in countries like Germany, United Kingdom and France. Other major regions include Latin America and Middle East & Africa but their shares are relatively smaller due to lower demand currently.