The report provides analysis of global Hand Dryers market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year. According to Acumen Research and Consulting, the global Hand Dryers market is expected to grow at noteworthy CAGR around 11 % throughout the forecast period and reach around US$ 1.9 billion by 2026.
This is due to the increasing use of airports, hotels and hospitals, restaurants, offices and shopping centers in several end-use industries. Total hand dryer shipments were 3,000,000 in 2018, with a forecast volume of 7,500,000 in 2026. Fuel the adoption of products is also projected at the environmental and economic benefits of the hand dryers. Growing demand for environmentally friendly appliances makes paper saving and power saving easier and more likely to foster industry growth over the forecast period.
The growing demand for environmentally friendly equipment helps to save paper and power, which will further promote growth in the sector during the prediction period. In addition to the need to decrease operational expenditures, particularly on offices and shopping malls, increasing demand for useful energy technology is expected to drive the industry in the coming years.
Infrastructure advances can provide additional growth opportunities, mainly in the developing economies, including India, Brazil, and China. Another aspect of increasing product adoption is that of increasing the number of restaurants, hotels and fast food chains worldwide. The upward inclination of intelligent infrastructure is likely to lead to the development of the market.
According to Acumen Research and Consulting analysts, increasing awareness of operational prices promotes the growth of the hand dryer market. The fast-growing hospitality industry is indirectly boosting the development of the hand dryer market with a rise in pubs, restaurants and hotels. The increasing use of hand dryers will likely promote the global market development. It is also one of the reasons that the development of the hand dryer market is supported by the need to meet cleanliness standards for the hospitality and food services sector. Furthermore, the global market will also thrive on rising investments and R&D from market players. Dryflow Vapordri, for instance, is a patented water evaporation system that is one of the fastest - developing hand drier systems in the world and thus boosts the development of the dryer market, in July 2018.
Operation Mode Outlook
Due to better comfort and user satisfaction offered by these products, the fully automatic segment represented the greatest market share in 2018. Fully automatic devices do not require a human touch to operate, minimizing the social efforts that fuel this segment's growth. Due to its maximum adoption at shopping mall, office, hospital and hotels and restaurants, the segment is expected to continue in the forecast period. It is estimated that the manual on-Automatic OFF segment will be moderated by price-sensitive regions in the coming years.
Mounting Technique Insights
The demand for wall mounted hand dryers will increase over the forecast period by over 14.0 percent in a CAGR, because these devices will have less space. The adoption of manual dryers, particularly in compact toilets with high traffic, has been driven considerably by space occupancy concerns. In order to address this problem, the industry is witnessing an increase in the adoption of products mounted on the wall. The demand for mounted surface products, which is attributed to easy installation of these devices, is estimated to record over 12.0% of the projected period.
In 2018, the jet air segments represented over 60% of the total volume, and are expected to expand by around 14% over the forecast year. The increase in installation is primarily attributable to hotels, airports and restaurants, bureaus and malls. In comparison to hot air dryers, the cost of jet air is high and could hinder the demand for products in the coming years.
The volume of the hot air dryer sector in the next couple of years is estimated to be around 13% CAGR. This is due to the increased installation, especially in public toilets, schools, shopping malls and schools, because of its low cost. Consumer incomes and an increasing awareness of the benefits of these products are expected to contribute to increased adoption.
End-use Industries Stance
Over 25% of total revenues in 2018 were accounted by the hotel and restaurant industry, which is expected to increase over the forecast period. As the number of restaurants, bars and hotels rises as well as increasing world-wide tourism activities this can be attributed to the rapid increase in the hospitality industry. In terms of revenues, it is calculated that in the next few years the hospital sector will have a CAGR of some 11% because of increased hygiene and the cost efficiency of hand dryers. In the following years the segment will further promote growth with reductions in maintenance costs and energy conservation.
In the next forecast period, demand for hand-dryers in shopping malls is projected to expand by more than 14.0 percent owing to growing emphasis on decreasing operating expenses and environmental efficiency by the owners of shopping malls. Furthermore, the reduction of paper waste and public toilet cleaning, comfortable, and well-maintained initiatives in this segment will drive demand for products.
As the adoption of ecological, cost-effective, and hassle free devices increases, Europe is projected to become a central regional market. This region represented about 35% of the total turnover in 2018 and will expand over the forecast period at CAGR by 11%. The emerging infrastructures in countries, including China, India and Thailand, will likely endure a stiff growth in Asia-Pacific demand, combined with growing awareness of the benefits of advanced equipment. Furthermore, increased demand for intelligent infrastructure could increase the use of hand dryers in the region.
Due to the snowballing admission in hotels, offices, restaurants, airports, stations of railway, hospitals, centers and training centers, the North American market is expected to grow significantly during the projected period, owing to increasing environmental concerns. The Middle East and Latin America are forecast to boost growth in the growing tourism industry and infrastructure development.
Global Hand Dryers Market, by Product
Global Hand Dryers Market, by Operation Mode
Global Hand Dryers Market, by Mounting Technique
Global Hand Dryers Market, by End-use
Global Hand Dryers Market, by Geography
The market research study on “Hand Dryers Market (By Product: Jet Air, Hot Air; By Operation Mode: Manual On-Automatic Off, Fully Automatic; By Mounting Technique: Surface Mounted, Wall Mounted; By End-use: Airports, Hotel & Restaurants, Hospitals, Offices, Shopping Malls, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers detailed insights on global Hand Dryers market segments with market dynamics and their impact. The report provides insights on global Hand Dryers market by product, operation mode, mounting technique, end use and major geographic regions. The report also covers basic technology development policies.
The report offers an overview of the market and statistical diagrams to support the expected figures. Our analysts predict the market scope and future prospects in an insightful way. The Acumen Research and Consulting report contains a comprehensive analysis of the global market in Hand Dryers segmented by molecular type, test type and region. The report outlines numerous growth strategies implemented by companies as well as the latest market trends. The market share and current position of all leading players are discussed in detail. It analyzes players ' new revenue sources and highlights the different strategies.
Key Players & Strategies
The Hand Dryers market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are American Dryer, LLC.; Electrostar; Jaguar Group Sdn. Dyson Technology India Pvt Ltd. SPS NZ, Bobrick Washroom Equipment Inc.; Euronics Industries Pvt Ltd; Saniflow Hand Dryer Corporation; Taishan Jieda Electrical Co.; Excel Dryer, Mitsubishi Electric Corporation; Spl SPS NZ. World Dryer Corporation and Ltd. among others.
Providing technologies that increase efficiency, reduce energy usage and are low in maintenance costs, increasingly emphasises manufacturers. In order to achieve a competitive edge, major industry players invest heavily in research and development to develop innovative products.
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