Category : Semiconductor and Electronics | Published at : March-2019 | Delivery Format : PDF | Status: Published | Pages : 160
Introduction
The global advanced commercial laundry machines Market is projected worth US$ 9,250.3 million by 2026 and the market is projected to showcase 6.4% CAGR during the forecast period. The advanced commercial laundry machines market is driven by an increase in demand for advanced commercial laundry machines by residential users.
Market Dynamics
Increase in preference of smart laundry technology and rising demand for advanced commercial laundry machines in laundromats are some of the driving forces that are expected to increase the demand for advanced commercial laundry machines. Also, the increase in the demand for laundromats in developing countries such as India and China is one of the key factors boosting the growth of the global advanced commercial laundry machines market.
Market Insights
The rise in technological advancements has transformed the electronics industry as the hospitality and multi-housing sector are making efficient use of smart laundry technologies that are energy efficient and consumes less water. Therefore, this factor is expected to create growth opportunities for key manufacturers across the globe. Also, the usage of advanced commercial laundry machines is growing in multi-housing projects as compared to the conventional laundry machines which will have a positive influence on the global advanced commercial laundry machines market. Also, the advancement in smart laundry technology and usage of the Internet of Things (IoT) is rapidly gaining traction and is expected to create profitable opportunities for key manufacturers in the global advanced commercial laundry machines market.
Market Classification
The global advanced commercial laundry machines market is segmented into capacity, end-use, and region. On the basis of capacity, the global advanced commercial laundry machines market is segmented into 0-30 Kg, 31-50 Kg, 51 Kg & above. Based on end-use, the global market is segmented into laundromats, hospitality, hospitals & care homes, multi-housing, schools & universities, and others. On the basis of the region, the global advanced commercial laundry machines market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Based on the end-use, the global advanced commercial laundry machines market can majorly be segmented into six sub-segments, which are laundromats, multi-housing, hospitality, hospitals & care homes, schools & universities, and public sector. The laundromats sub-segment is expected to dominate the global advanced commercial laundry machines market due to the widespread use of advanced commercial laundry machines by laundromats.Also, the multi-housing sub-segment is anticipated to expand at a significant pace due to the increase in the multi-housing projects across the globe.
Regional Insights
The North America region is expected to dominate the global advanced commercial laundry machines market owing to the rising demand from end-use industries such as automotive, packaging and textile industry from emerging countries such as India, Malaysia, and other countries.Also, the Asia Pacific region is expected to grow at a high CAGR owing to the growing popularity of laundromats in the region. This rise in popularity of laundromats is due to the increasing costs of electricity, increase in working couples and the transition toward apartment-style living in the Asia Pacific region.
Market Participants
The major players associated with the advanced commercial laundry machines market are Alliance Laundry Systems Limited, Whirlpool Corporation, Dexter Laundry Systems, Electrolux AB, IFB, BDS Laundry, and Domus Laundry, etc.
Key manufacturers in the global advanced commercial laundry machines market are focused on investing heavily in research and development activities in order to manufacture smart laundry machines that offer energy efficient and less water consumption features.Moreover, the key manufacturers in the global advanced commercial laundry machines market are strategically forming partnerships with other established players in the market in order to expand their business geographically as well as to gain huge market share.
Market Segmentation
Market By Capacity
- 0-30 Kg
- 31-50 Kg
- 51 Kg & Above
Market By End-use
- Laundromats
- Multi-housing
- Hospitality
- Schools & Universities
- Hospitals & Care Homes
- Public Sector
- Others
Market By Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Chile
- Rest of Latin America
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of MEA
