Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Advanced Commercial Laundry Machines Market (By Capacity: 0-30 Kg, 31-50 Kg, 51 Kg & Above; By End-use: Laundromats, Multi-housing, Hospitality, Schools & Universities, Hospitals & Care Homes, Public Sector, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026”.
LOS ANGELES, March 25, 2019 (GLOBE NEWSWIRE) -- The global advanced commercial laundry machines market size is anticipated to around USD 9,250.3 million by 2026, this market is anticipated to grow with 6.4% CAGR during the forecast time period. The rising demand for machines with high capacity from Laundromat operators is expected to drive the growth of the global advanced commercial laundry machines market.
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The rising demand for advanced commercial laundry machines from the hospitality and Laundromats industry is anticipated to boost the global advanced commercial laundry machines market. Several factors such as the rise in disposable income, convenience associated with the use of Laundromats, an increase in consumer awareness about smart technologies are the latest trends that are impelling the overall laundry machines industry. In turn, these factors are projected to fuel the demand for advanced commercial laundry machines market in the upcoming years. The increased popularity of Laundromats is gaining traction across the globe. In the last few years, commercial laundry machines have been gaining popularity in developing countries such as India and China. There are various Laundromats that are well-known in the developing nations. The rise in the number of the millennial population has started using Laundromat services, due to the increase in disposable income and accessibility associated with the usage of Laundromats. This is attributed to the increasing costs of electricity, less time, and the shift towards apartment-style living. The increase in the number of multi-housing projects in the U.S. is observing a steady rise amidst the higher prices and borrowing costs associated with residents. Commercial laundry machines are installed mainly in multi-housing projects that include apartments, residential societies, universities, houses, and dormitories. This factor results in energy, water, and time savings for people living in multi-housing projects. The increasing number of multi-housing projects would lead to increased demand for the placement of commercial laundry machines in these projects in the near future. Advanced commercial laundry machines are gaining traction in the Asia Pacific region, mainly in developing countries such as China and India. This popularity is due to the rising disposable income and suitability associated with the Laundromats. Furthermore, Laundromats have advanced machines with higher capacity that can accommodate higher loads of laundry and save time. This makes Laundromats a sustainable substitute for the washing laundry at home.
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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 advanced commercial laundry machines market is segmented into multi-housing, hospitality, Laundromats, hospitals & care homes 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.
North America region is expected to dominate the global advanced commercial laundry machines market followed by Europe region. The market in the North America region is expected to grow significantly during the forecast period due to the growing demand for advanced commercial laundry machines by residential customers in this region and rise in usage of advanced commercial washing machines that are more energy efficient and needs less water. The advanced commercial laundry machines in Europe region is anticipated to hold a significant share in the upcoming years. The demand for advanced commercial laundry machines in North America is expected to increase at a significant pace due to the increase in the number of multi-housing projects globally, particularly in the U.S.
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The prominent players operating in the global advanced commercial laundry machines market are Alliance Laundry Systems Limited, Whirlpool Corporation, Dexter Laundry Systems, Electrolux AB, IFB, BDS Laundry, and Domus Laundry, etc. The key manufacturers are focusing on the development of innovative products using smart technologies in order to gain a competitive edge and strengthen their foothold in the global advanced commercial laundry machines market. Furthermore, the players are engaged in forming strategic partnerships with the established players in order to gain maximum share. The R&D investments coupled with advanced smart laundry technologies is expected to offer innovative laundry solutions that are expected to offer growth opportunities for manufacturers in the global market.
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