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A new report published by Allied Market Research, titled, “Hand Dryer Market by Product Type, Mode of Operation and End User-Global Opportunity Analysis and Industry Forecast, 2014-2022″, The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape.The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. Hand Dryer Market is expected to garner $1,350 million by 2022.
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.
“Rapidly growing hospitality industry with increase in the number of restaurants, hotels, and pubs posing lucrative environment for hand dryers market. The adoption of hand dryers is expected to surge on account of requirement to meet cleanliness standards for food service industry. The automatic hand dryers are expected to witness increased demand across the world due to convenience offered while operation.”
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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. The market is segmented into two basic types-hot hand dryer and jet hand dryer. Hot hand dryers dominate in terms of volume owing to their low cost advantages. These are being increasingly installed at public restrooms, educational institutes, shopping malls, and others. However, the jet hand dryer segment would continue to maintain their leading position in terms of revenue generation with an increase in installation at commercial complexes, airports, hotels, and restaurants. Increased focus to avoid environmental loss with minimization of paper towels in commercial premises would help to fuel the market growth.
Geographically the market is segmented into 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. In particular, Asia-Pacific region would show promising growth owing to notable demand from the countries such as China, India, Japan, and South Korea among others.
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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.
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.
These players focus on product launch to improvise their market share and take leading edge on the competitors. For instance, recently in April 2016, World Dryer Corporation, a leading global high-speed hand dryer manufacturer, has launched VERDEdri as per GRAs environmental product endorsement standards. This energy-efficient hand dryer utilizes 950 watts with dry time of nearly 12 seconds.
Hand Dryer Market Segmentation:
○ By Type
○ By End User
○ By Mode of Operation
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.
○ In 2014, hot hand dryers shared nearly 70% market volume due to their cost-effectiveness as compared to jet hand dryers.
○ 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.
○ Market players focus on product launch equipped with advanced features to meet the customer demands.
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