Nepal Electric Iron Market (2022-2028) | Share, Analysis, Forecast, Size, Trends, Outlook, Revenue, Value, Segmentation, Industry & COVID-19 IMPACT

Latest 2023 Developments of the Nepal Electric Iron Market

The Nepal Electric Iron Market is rising owing to a rise in the living standards of people and the growth in disposable incomes of consumers in the country. Growing demand for electric irons that are energy-efficient, the introduction of cordless irons, rising focus on safety features, and online sales channels are also fueling the Nepal Electric Iron Market Growth. Consumers in the market seek electric irons that are energy-efficient with the rising focus on the environment. In the sector, manufacturers respond by coming up with models which consume less electricity and still deliver optimal performance. Cordless electric irons obtained popularity in the industry owing to their easy of use and convenience. These types of irons are best for travelers as well as for individuals living in areas with frequent power outages. Manufacturers in the market are focusing more on safety features. There is an expansion in the online sales of electric irons on the back of the growth in e-commerce platforms. A number of consumers in the nation prefer online shopping which led to a rise in sales as well as revenue of electric iron manufacturers, which is leading to a rise in the Nepal Electric Iron Market Share. 

Nepal Electric Iron Market Synopsis

Nepal Electric Iron Market is expected to grow more in the near future. The country has a large population and a growing economy, which are the key factors driving the growth of the electric iron market in Nepal. Moreover, the government's initiatives to provide electrification to all households and promote the use of energy-efficient appliances is further expected to boost the demand for electric irons in Nepal. 

However, the high cost of electric irons and the lack of awareness about their benefits are some of the key factors restraining the growth of the market.

The electric iron market in Nepal is defined as the sale of electric irons by retailers to consumers in Nepal. Retailers include both brick-and-mortar stores and online retailers. Consumers include households, hotels, and other end users.

Electric irons are household appliances that are used for pressing clothes. They work by heating up a metal plate, which then transfers the heat to the fabric being pressed. Electric irons come in a variety of shapes, sizes, and wattage levels.

Nepal is a landlocked country located in South Asia. It borders India to the south and east, and China to the north. Nepal has a population of approximately 27 million people. The capital city is Kathmandu. Nepali is the official language of Nepal. The currency is the Nepalese rupee (NPR). 

The majority of the population is rural, and agriculture is the main economic activity. Nepal’s economy is heavily dependent on remittances from Nepalese workers abroad. Tourism is also an important source of income for Nepal.

According to 6Wresearch, the Nepal Electric Iron Market size is expected to grow during 2022-2028. Rising disposable incomes and changing lifestyles are the major drivers of the electric iron market in Nepal. Increasing urbanization and rising tourism are also driving the market. However, the electric iron market in Nepal faces some challenges such as power outages and high electricity tariffs. In addition, competition from other household appliances such as steam irons is also a challenge for the electric iron market in Nepal.

COVID-19 Impact on the Nepal Electric Iron Market

The COVID-19 pandemic was challenging for Nepal Electric Iron Market since the growth of the market declined. The shutdown of manufacturing plants, the decline in production, export and import restrictions, hampered supply chain and travel restrictions were some of the key challenges confronted by the market. 

Market Analysis by Type

On the basis of type, the electric iron market in Nepal can be segmented into dry iron and steam iron. Dry iron is the most popular type of iron in Nepal as it is easy to use and does not require any special care. Steam iron is less popular as it needs to be filled with water regularly and needs to be used with a steaming station.

Market Analysis by Application

Based on application, the residential application segment is dominating the market and will evolve more in the years to come. 

Market Analysis by Distribution

On the basis of distribution channels, the electric iron market in Nepal can be segmented into offline channels such as department stores and electronics stores and online channels such as e-commerce websites and company websites. Online sales account for a small percentage of total sales as many consumers prefer to buy electrical appliances from offline stores.

Competitive Landscape

The key players in the Nepal electric iron market are Bajaj Electricals Ltd., Crompton Greaves Ltd., Havells India Ltd., and Orient Electric Ltd. 

These companies have a strong presence in the market with their wide range of products. They offer electric irons with different features and specifications to meet the varied needs of customers. The companies have a wide network of dealers and distributors across the country, which helps them to reach a large customer base. 

The competition in the Nepal electric iron market is intense as the key players are constantly striving to gain a competitive edge over their rivals. They are investing heavily in research and development activities to bring out new and innovative products that cater to the changing needs of customers. The companies are also engaged in promotional activities to create awareness about their products among consumers.

Demand for Products in Nepal Electric Iron Market 

The major growth drivers for the electric iron market in Nepal are the growing population, rapid urbanization, and rising disposable incomes. The country has a large number of small and medium enterprises (SMEs), which are driving the demand for electric irons. In addition, the government's initiatives to promote electrification in rural areas are also expected to fuel the growth of the electric iron market in Nepal.

Forecasts and Future Outlook

In recent years, the electric iron market in Nepal has been growing rapidly, driven by strong economic growth and rising household incomes. However, growth is expected to slow in the coming years as the economy slows and inflationary pressures mount.

This growth will be driven by continued economic development and rising household incomes. Additionally, government initiatives to promote electrification in rural areas are expected to provide a further boost to market growth.

Key Attractiveness of the Report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2018 to 2021.
• Base Year: 2021.
• Forecast Data until 2028.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report

• Nepal Electric Iron Market Outlook
• Market Size of Nepal Electric Iron Market, 2021
• Forecast of Nepal Electric Iron Market, 2028
• Historical Data and Forecast of Nepal Electric Iron Revenues & Volume for the Period 2018 - 2028
• Nepal Electric Iron Market Trend Evolution
• Nepal Electric Iron Market Drivers and Challenges
• Nepal Electric Iron Price Trends
• Nepal Electric Iron Porter's Five Forces
• Nepal Electric Iron Industry Life Cycle
• Historical Data and Forecast of Nepal Electric Iron Market Revenues & Volume By Function for the Period 2018 - 2028
• Historical Data and Forecast of Nepal Electric Iron Market Revenues & Volume By Automatic for the Period 2018 - 2028
• Historical Data and Forecast of Nepal Electric Iron Market Revenues & Volume By Non-automatic for the Period 2018 - 2028
• Historical Data and Forecast of Nepal Electric Iron Market Revenues & Volume By Product for the Period 2018 - 2028
• Historical Data and Forecast of Nepal Electric Iron Market Revenues & Volume By Dry for the Period 2018 - 2028
• Historical Data and Forecast of Nepal Electric Iron Market Revenues & Volume By Steam for the Period 2018 - 2028
• Historical Data and Forecast of Nepal Electric Iron Market Revenues & Volume By Application for the Period 2018 - 2028
• Historical Data and Forecast of Nepal Electric Iron Market Revenues & Volume By Residential for the Period 2018 - 2028
• Historical Data and Forecast of Nepal Electric Iron Market Revenues & Volume By Commercial for the Period 2018 - 2028
• Historical Data and Forecast of Nepal Electric Iron Market Revenues & Volume By Distribution Channel for the Period 2018 - 2028
• Historical Data and Forecast of Nepal Electric Iron Market Revenues & Volume By Offline for the Period 2018 - 2028
• Historical Data and Forecast of Nepal Electric Iron Market Revenues & Volume By Online for the Period 2018 - 2028
• Nepal Electric Iron Import Export Trade Statistics
• Market Opportunity Assessment By Function
• Market Opportunity Assessment By Product
• Market Opportunity Assessment By Application
• Market Opportunity Assessment By Distribution Channel
• Nepal Electric Iron Top Companies Market Share
• Nepal Electric Iron Competitive Benchmarking By Technical and Operational Parameters
• Nepal Electric Iron Company Profiles
• Nepal Electric Iron Key Strategic Recommendations

Markets Covered

The report offers a broad study of the subsequent market segments:

By Function

• Automatic
• Non-Automatic

By Product

• Dry
• Steam

By Application

• Residential
• Commercial

By Distribution Channel

• Offline
• Online