Over the past few years, the preference for urban living has increased dramatically, with more and more people migrating from rural areas in search of employment, better education, and access to better healthcare facilities. Urban living has become more popular due to demographic, socioeconomic, and cultural factors. However, with increasing urbanization, real estate values are skyrocketing. Residential spaces are shrinking daily due to the rising urban population and land values, while the number of working professionals in urban settings is increasing.

The global cloth drying products market is projected to reach US$ 4,910.54 million by 2028 from US$ 3,697.85 million in 2022. It is expected to grow at a CAGR of 4.8% during 2022–2028.

Moreover, the number of single-member households is also increasing in metro cities. Owing to these factors, the number of small apartments and residences is increasing in urban areas. People living in small apartments are therefore looking for multi-functional and flexible home products that fit into compact spaces and provide a spacious and uncluttered look. Cloth drying products, such as drying racks and wall-mounted dryers, can be accommodated in small spaces and are ideal for use in apartments. Thus, the rise of urban living has led to cloth drying products market growth.

Due to their flexibility and affordability, wall-mounted cloth dryers are also becoming popular among urban and mid-income consumers. Wall-mounted dryers fit in smaller spaces and can carry a wash load of an entire family. They can be easily installed indoors or in balconies. Moreover, they require less storage space as they are foldable. Manufacturers of wall-mounted dryers are launching products with innovative designs to attract a large number of customers. For instance, the Wallfix Wall-Mounted Dryer offered by Brabantia Branding B.V. has an umbrella design, which can carry an entire washing load of a family. The dryer can be operated effortlessly only by one hand using the handle provided at the center. Thus, the increased innovation is expected to propel the cloth drying products market size.

Addis Housewares Ltd.; Brabantia Branding B.V.; Honey-Can-Do International LLC; Freudenberg Home and Cleaning Solutions GmbH; INTER IKEA SYSTEMS B.V.; JOMOO KITCHEN & BATH CO., LTD.; Julu Ltd.; RACKBUDDY; Vale Mill (Rochdale) Ltd.; Juwel; and Leifheit AG are the key players operating in the global cloth drying products market. These companies provide a wide range of product portfolios for the market. They have a widespread global presence, which provides a lucrative opportunity for the market to serve a large set of customers and increase the market share. These market players are highly focused on developing products with advanced technology platforms to serve their customers better.

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