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Hand Dryer Market Analysis, Growth By Top Companies, Trends By Types And Application, Forecast To 2014-2022
Hand Dryer Market
Hand Dryer Market is expected to garner $1,350 million by 2022, Growing at a CAGR of 13.0% from 2016 to 2022.
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The Covid-19 pandemic has a vital impact on the growth of the global hand dryer market and altered several market scenarios. The lockdown across various countries and ban on international travel has disrupted the supply chain and revenue chain. The report includes a thorough analysis of the Covid-19 pandemic on the growth of the global hand dryer market.
Factors such as technological advancement, price, and energy efficiency of hand dryers have significantly impacted the market growth. Automatic hand dryers have reduced the human interaction notably with improvement in consumer experience. Moreover, the reducing product prices facilitates their adoption across new areas such as educational institutes, office buildings, retail outlets, and public restrooms among others.
However, rise in health concerns due to microbial cross-contamination and associated noise pollution issues are expected to hinder the market growth during the forecast period in some extent. Nevertheless, ongoing research and development to improve quality, energy efficiency, and reduction in noise is anticipated to increase the demand for hand dryers.
Global hand dryer market is segmented based on type, mode of operation, end user, and geography.
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North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. North America and Europe lead with more than 3/5th share owing to high living standards and increased health concerns. However, Asia-Pacific and LAMEA regions would exhibit the comparatively higher growth due to improvement in infrastructure development and growth in awareness.
Key players profiled in the report include World Dryer Corporation, American Dryer Inc., Dyson Ltd., Palmer Fixture, Bio Jetdrier, Mitsubishi Electric Corporation, Panasonic Corporation, Hokwang Industries, Excel Dryer Inc., and JVD SAS.
Hand Dryer Market Segmentation:
○ By Type
○ By End User
○ By Mode of Operation
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Key Findings of the Study:
○ Hand dryer market witness significant growth across the globe with growth in awareness about hygiene and cleanliness among the populace.
○ Food processing and service industry shares nearly 1/3rd market due to their increased installation at food parks, food outlets, and restaurants.
○ European region constitutes the highest market share with prominent demand from UK, France, Germany, and Italy among others.
○ In 2014, hot hand dryers shared nearly 70% market volume due to their cost-effectiveness as compared to jet hand dryers.
○ Market players focus on product launch equipped with advanced features to meet the customer demands.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to offer business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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