Market Insights Consumer Household Appliances Small Appliances

Irons - Panama

Panama

In 2024, the revenue generated in the Irons market in Panama amounts to US$4.48m.
It is projected that this market will experience an annual growth rate of 4.68% (CAGR 2024-2029).
When compared to other countries, in China generates the highest revenue in the Irons market, with a total of US$2,139m in 2024.
In terms of household income, each household in Panama is estimated to generate US$4.50 in revenue in 2024.
Looking ahead to 2029, it is expected that the volume of the Irons market will reach 141.3k pieces.
Additionally, there is an anticipated volume growth of 2.9% in 2025.
On average, each household in Panama is projected to have a volume of 0.12pieces in the Irons market in 2024.
Panama's market for irons is experiencing a surge in demand due to the country's growing tourism industry and the need for quality hotel amenities.

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.