Commercial Laundry Equipment Market Size by 2024
The commercial laundry equipment is segmented on the basis of operation types. They are, multi-housing, on-premises and vended. Vended laundry is also referred to as coin operated laundry and occupies spaces on long term leases. They are self-service and are composed of individual operators or owners. The on-premises laundry facility is installed at properties such as apartment spaces and comprises of a washer and dryer. The multi-housing laundry systems are usually installed by the landlords for the benefit of their tenants. They cater to the needs of each apartment and rental space with a complete washer and dryer set. The commercial laundry equipment is majorly contributed by the vended type as it saves time in carrying out the cleaning tasks.
The growth in commercial laundry equipment market can be primarily attributed to the growing demand for efficient laundry systems. As the population and levels of disposable income rises, there is a growing awareness among the people for hygienic and efficient cleaning systems. This triggers the growth of laundry stores to cater to such growing demand In addition, the government regulations for energy efficient systems in certain regions like North America are creating stiff competition among the vendors to come up with innovative features including the electronic controls. Such electronic controls combined with several other features automate the cleaning tasks thereby saving lot of time. Another factor contributing to the growth of commercial laundry equipment market is the initiatives taken by the healthcare industries to solve the issue of various cleaning jobs. Hospitals, clinics and nursing homes need to consistently launder a variety of items such as towels, bed sheets, rugs and mop heads thoroughly and effectively. High speed washing and cost efficiency are tow dominating factors for such health care facilities. This is driving the demand for highly programmable laundry equipment that can cater to the various washing needs ranging from personal items to mop heads.
However, cost of replacing the laundry equipment in the event of failure, is adversely affecting the growth of this market. The increasing cost of raw materials such as Nickel and Copper coupled with high installation costs makes laundry equipment replacement expensive. There many local vendors that offer repair services to the laundry equipment at an affordable price. Thus, users prefer to get their equipment repaired rather getting it replaced.
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To tap the significant opportunities available in the emerging economies, the players in the market are offering their solutions beyond the national boundaries.
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For instance, Alliance Laundry Systems, one of the key vendors in the laundry equipment market, in the Year 2014, began to offer their laundry services in Brazil due to the presence of significant growth opportunities. Some of the other key vendors in the market include Electrolux Laundry Systems, GE Appliances, Qualitex Company and Unipress Corporation.
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