Market Insights Consumer Household Appliances Small Appliances

Irons - Caribbean

Caribbean

In 2024, the revenue generated in the Irons market in the Caribbean amounts to US$57.58m.
It is projected that the market will experience an annual growth rate of 5.92% (CAGR 2024-2029).
When compared to other countries worldwide, in China generates the highest revenue in this segment, with US$2,139m in 2024.
Taking into consideration the total number of households, it is estimated that each household in the Caribbean will generate US$6.25 in revenue in 2024.
Looking ahead to 2029, the volume in the Irons market is expected to reach 1.1m pieces.
Additionally, there is a forecasted volume growth of 1.9% in 2025.
On average, each household in the Caribbean is expected to contribute a volume of 0.11pieces to the Irons market in 2024.
The demand for high-quality, energy-efficient irons in the Caribbean market is on the rise, driven by the region's growing tourism industry and increasing focus on sustainability.

Key regions: Worldwide, China, Indonesia, India, United States

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Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on consumer spending on Household Appliances.

Modeling approach:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, trade data, national statistical office data, third-party studies and reports, survey results from our primary research (e.g., the Statista Consumer Insights Global Survey), as well as performance factors. In addition, we use relevant key market indicators and data from country-specific associations, such as number of households, consumer spending, and price level index. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques, such as exponential trend smoothing, for instance. The selection of forecasting techniques is based on the behavior of the relevant market.

Additional notes:

The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Survey data is reweighted for representativeness.