NEWARK, Del, Nov. 04, 2022 (GLOBE NEWSWIRE) -- The global hangers market is worth US$ 483.4 Mn as of now and is expected to reach US$ 1.04 Bn by the year 2032 at a decent CAGR of 8% between 2022 and 2032.
Hangers come across as an inevitable commodity on domestic front, which have penetrated nearly every section of society, thereby leading to continuous demand for the same.
Hangers are designed for keeping clothes such that wrinkles could be prevented, and also for easy handling. Hangers available in the market include clip hangers with multiple or single clamps, regular clothes hangers, stacking hangers, and foldable hangers.
These hangers could come in several sizes for accommodating children’s clothing. Clothing-specific hangers could also be designed; say for trousers and skirts. It’s interesting to note that designer wall hooks are categorized as hangers.
The materials used for making hangers constitute steel (better known as wire hangers), plastic, and wood. There are hangers having a padding of various other materials like cotton, velvet, wool, nylon, or satin for giving it a luxurious feel. Hospitality sector uses hangers in dormitories, hostels, and hotels. And the retail sector in the shops.
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These days, wooden hangers are preferred in the wake of environmentally-friendliness. Plastic hangers have thus taken a backseat. However, wire or metal hangers still remain a top priority owing to the longevity.
Intelligent hangers are doing the rounds with advantages like clothes drying assistance and rain-proofing. Future Market Insights has walked through these facts with future perspectives in its latest market study entitled ‘Hangers Market’.
Key Takeaways from Hangers Market
- North America holds 24% of the overall market share. This could be credited to increasing sales in residential segment.
- Europe holds 19% of the market share due to expansion of hospitality and retail sector herein. Intelligence hangers are also coming up, which could accelerate the smart robots market in future.
- The Asia-Pacific is expected to go steady with the hangers market with continual fetish of the population towards attire.
Competitive Landscape
- Depop (once aa start-up born out of social network), comes across as one of the trusted marketplace for more than 10 Mn users purchasing, selling, exploring unique trends, fashion, and accessories. This is actually a community of influencers, creatives, sellers, and consumers, which is changing the outlook of retail and a worldwide phenomenon in actuality. Depop is a peer-to-peer selling platform, which lets the creatives purchase as well as sell stylish and unique things in an online mode.
- Wardrobe of Tomorrow is one of the highest-curated marketplace dedicated to sustainable fashion designers from across the globe. This marketplace is working on tabling parallel circular model by letting customers swap, rent out, or resell garments.
- Weatherford makes provision for reliable, field-proven hydraulic-set and mechanical liner hangers for catering to almost any application. Run-in features encompass huge bypass area with high load capacity, and various rotating capabilities improvising on zonal isolation while doing primary cementing jobs. The high torque ratings facilitate rotation of cemented liners post setting the drill down liners set hydraulically.
- Guilin lango Home Collection is known for its longer life-span and usage of resources to the best of the capability. The innovations are tuned on an individual basis. It has been reported that hangers that lango produces are in good condition and have an exceptional quality.
“With booming hospitality and retail sector, hangers market is expected to witness an acceleration in the forecast period”, says an analyst from Future Market Insights.
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What does the Report Cover?
- Future Market Insights offers an exclusive perspective and various real-time insights on the hangers market in its latest study, presenting historical demand assessment of 2016 – 2021 and projections for 2022 – 2032.
- The research study is based on type (metal hangers, wooden hangers, plastic hangers, and likewise), and by application (commercial use and personal use).
- With growing demand for sophistication, the hangers market is bound to be exponentially servile in the forecast period.
Key Segments Covered In The Hangers Industry Analysis
Hangers Market by Type:
- Metal Hangers
- Wooden Hangers
- Plastic Hangers
- Other Hanger Types
Hangers Market by Application:
- Hangers for Personal Use
- Hangers for Commercial Use
Hangers Market by Region:
- North America Hangers Market
- Latin America Hangers Market
- Europe Hangers Market
- Asia Pacific Hangers Market
- Middle East & Africa Hangers Market
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
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