Electric Blanket Market

The global electric blanket market is projected to see continued growth in consumption over the next eight years, with anticipated increases in both volume and value. Market performance is forecasted to accelerate, with a CAGR of +2.0% in volume and +2.8% in value from 2022 to 2030, reaching 64M units and $804M by 2030. Consumption trends show fluctuations, with the Czech Republic leading in consumption volume, followed by the United States and China. Production rates have remained relatively stable, with China, the Czech Republic, and Belgium contributing the most. Import trends show growth, with the United States being the largest importer, followed by Japan and the UK. Export trends indicate significant growth, with China dominating in export volume and value. Detailed analysis of key consuming countries, growth rates, and price trends.

Market Forecast

Driven by increasing demand for electric blankets worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +2.0% for the period from 2022 to 2030, which is projected to bring the market volume to 64M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.8% for the period from 2022 to 2030, which is projected to bring the market value to $804M (in nominal prices) by the end of 2030.

Consumption

World Consumption of Electric Blankets

In 2022, consumption of electric blankets decreased by -0.3% to 55M units, falling for the second consecutive year after two years of growth. Overall, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak volume of 64M units. From 2018 to 2022, the growth of the global consumption remained at a lower figure.

The global electric blanket market size stood at $644M in 2022, with an increase of 3.7% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, recorded a relatively flat trend pattern. As a result, consumption reached the peak level of $842M. From 2018 to 2022, the growth of the global market remained at a somewhat lower figure.

Consumption By Country

The Czech Republic (25M units) constituted the country with the largest volume of electric blanket consumption, comprising approx. 46% of total volume. Moreover, electric blanket consumption in the Czech Republic exceeded the figures recorded by the second-largest consumer, the United States (9.6M units), threefold. China (7.1M units) ranked third in terms of total consumption with a 13% share.

From 2012 to 2022, the average annual growth rate of volume in the Czech Republic amounted to +3.3%. The remaining consuming countries recorded the following average annual rates of consumption growth: the United States (+7.3% per year) and China (-8.4% per year).

In value terms, the largest electric blanket markets worldwide were the United States ($163M), the Czech Republic ($147M) and China ($101M), together accounting for 64% of the global market. Japan, the UK and Australia lagged somewhat behind, together accounting for a further 16%.

Among the main consuming countries, the UK, with a CAGR of +8.9%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of electric blanket per capita consumption was registered in the Czech Republic (2,336 units per 1000 persons), followed by Australia (39 units per 1000 persons), the United States (29 units per 1000 persons) and the UK (28 units per 1000 persons), while the world average per capita consumption of electric blanket was estimated at 7 units per 1000 persons.

In the Czech Republic, electric blanket per capita consumption expanded at an average annual rate of +3.1% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: Australia (+1.4% per year) and the United States (+6.8% per year).

Production

World Production of Electric Blankets

In 2022, the amount of electric blankets produced worldwide was estimated at 67M units, therefore, remained relatively stable against the previous year's figure. In general, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 1.5%. Over the period under review, global production attained the maximum volume in 2022 and is expected to retain growth in the near future.

In value terms, electric blanket production dropped slightly to $772M in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 when the production volume increased by 32%. As a result, production reached the peak level of $929M. From 2018 to 2022, global production growth remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2022 were China (35M units), the Czech Republic (27M units) and Belgium (1.3M units), with a combined 95% share of global production.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +183.8%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Electric Blankets

In 2022, overseas purchases of electric blankets increased by 7.8% to 23M units, rising for the second year in a row after two years of decline. Overall, total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +42.6% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 32%. Global imports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, electric blanket imports skyrocketed to $406M in 2022. In general, total imports indicated a perceptible increase from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +71.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 41%. Over the period under review, global imports attained the peak figure in 2022 and are expected to retain growth in the near future.

Imports By Country

The United States represented the largest importing country with an import of around 9.6M units, which reached 43% of total imports. Japan (2.2M units) took the second position in the ranking, followed by the UK (2M units), the Netherlands (1.2M units) and Australia (1M units). All these countries together held near 28% share of total imports. Germany (881K units), Canada (689K units), Chile (678K units), Italy (434K units) and Spain (393K units) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to electric blanket imports into the United States stood at +6.9%. At the same time, Spain (+15.5%), Germany (+11.9%), Italy (+11.0%), Canada (+10.0%), the Netherlands (+7.5%), the UK (+5.5%) and Australia (+2.6%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing importer imported in the world, with a CAGR of +15.5% from 2012-2022. Japan experienced a relatively flat trend pattern. By contrast, Chile (-6.6%) illustrated a downward trend over the same period. The United States (+8.7 p.p.) and Germany (+1.9 p.p.) significantly strengthened its position in terms of the global imports, while Japan and Chile saw its share reduced by -5.8% and -6.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United States ($164M) constitutes the largest market for imported electric blankets worldwide, comprising 40% of global imports. The second position in the ranking was taken by Japan ($44M), with an 11% share of global imports. It was followed by the UK, with a 9.2% share.

In the United States, electric blanket imports expanded at an average annual rate of +6.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (+0.5% per year) and the UK (+8.6% per year).

Import Prices By Country

The average electric blanket import price stood at $18 per unit in 2022, surging by 13% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Australia ($23 per unit), while Spain ($8.8 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+2.9%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Electric Blankets

In 2022, overseas shipments of electric blankets increased by 6.4% to 35M units, rising for the second consecutive year after two years of decline. In general, total exports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +44.3% against 2020 indices. The most prominent rate of growth was recorded in 2018 when exports increased by 76%. Over the period under review, the global exports hit record highs in 2022 and are likely to continue growth in the near future.

In value terms, electric blanket exports soared to $551M in 2022. Overall, total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +79.0% against 2020 indices. The growth pace was the most rapid in 2021 when exports increased by 51%. Over the period under review, the global exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports By Country

China prevails in exports structure, resulting at 28M units, which was near 82% of total exports in 2022. It was distantly followed by the Czech Republic (1.7M units), committing a 4.9% share of total exports. Belgium (1.4M units) and Indonesia (0.9M units) took a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to electric blanket exports from China stood at +5.4%. At the same time, Belgium (+37.4%) and Indonesia (+2.0%) displayed positive paces of growth. Moreover, Belgium emerged as the fastest-growing exporter exported in the world, with a CAGR of +37.4% from 2012-2022. By contrast, the Czech Republic (-14.5%) illustrated a downward trend over the same period. China (+20 p.p.) and Belgium (+3.9 p.p.) significantly strengthened its position in terms of the global exports, while the Czech Republic saw its share reduced by -24.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($474M) remains the largest electric blanket supplier worldwide, comprising 86% of global exports. The second position in the ranking was held by Indonesia ($15M), with a 2.8% share of global exports. It was followed by the Czech Republic, with a 2.2% share.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +6.8%. The remaining exporting countries recorded the following average annual rates of exports growth: Indonesia (+0.3% per year) and the Czech Republic (-10.0% per year).

Export Prices By Country

The average electric blanket export price stood at $16 per unit in 2022, growing by 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. The most prominent rate of growth was recorded in 2017 an increase of 53%. As a result, the export price attained the peak level of $18 per unit. From 2018 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Indonesia ($18 per unit), while Belgium ($1.5 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Czech Republic (+5.2%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform