Wilmington, Delaware, United States, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Wilmington, Delaware, United States Transparency Market Research Inc. - The global hand dryer market is expected to expand at a CAGR of 9.0% during the forecast period 2022 to 2031, as per the market forecast in the research report by TMR.
Organizations operating in the hotel & restaurant industry across the globe are focusing on offering optimal experiences to their guests. This is leading to the surge in usage of different types of hygienic products, such as hand dryers. The TMR research report indicates that the hotels & restaurants end-user segment held dominant position in the global market in 2021. It is projected to continue with the leading position during the forecast period. Moreover, rapid expansion of the tourism industry across developing economies is projected to fuel market demand in the next few years.
Key Findings
- Usage of jet air hand dryers has increased in the past few years owing to their advantages, such as energy-efficiency, durability, and ability to sustain high usage on a daily basis. As per the market outlook in the TMR report, the jet air dryer’s product type segment accounted for a significant share of the global industry in 2021, and is projected to show promising growth during the forecast period.
- The number of people travelling for business purposes has increased over the past few years. Besides this, improved spending power of people in developed and developing countries is leading to rise in expenditure on travel for leisure. Hence, construction of hotels has increased in order to fulfill the rise in consumer demand, leading to increase in installation of washroom-related products, such as commercial hand dryers.
- Government authorities in major developed and developing countries are focusing on advancements in their public transportation infrastructure. Hence, the number of airports, bus stations, and train stations is anticipated to rise across these countries. This, in turn, is likely to fuel the demand for hand dryers in the next few years.
- Several emerging and developed economies across the globe are witnessing rapid pace of urbanization. Prioritization of hand hygiene and adoption of hygienic lifestyles by the urban populace is estimated to boost the utilization of hand dryers in public washrooms of educational institutions, malls, and hospitals. This factor presents significant business opportunities for manufacturers of hand dryers.
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Hand Dryer Market: Growth Drivers
- Increase in inclination of people toward adopting a hygienic lifestyle is creating high demand for hand dryers
- Rise in focus of governments on prioritizing health and hygiene is fueling industry growth
Regional Analysis
- Asia Pacific accounted for significant share of the global market in 2021. This can be ascribed to rise in demand for hand dryers owing to increase in initiatives to maintain hygiene in public places.
- Players are anticipated to witness rise in product demand in North America due to surge in number of auditoriums, stadiums, and malls in the region
Hand Dryer Market: Competition Landscape
- Companies operating in the global hand dryer industry are focusing on R&D activities in order to develop attractive, eco-friendly, and energy-efficient products
- Players are adopting strategies, such as product launch and collaboration, in order to stay ahead of the competition
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Hand Dryer Market: Key Players
- World Dryer
- Dyson Ltd.
- American Dryer, LLC.
- Excel Dryer Inc.
- Bradley Corporation
- Mitsubishi Electric Corporation
- SPL Ltd.
- Electrostar GmbH
- Palmer Fixture
- Tashan Jie Da Electrical Co., Ltd.
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Hand Dryer Market Segmentation
Product Type
- Warm Air Dryers (WAD)
- Jet Air Dryers (JAD)
Mounting Type
- Floor-mounted
- Wall-mounted
Operation
- Automatic
- Semi-automatic
End-user
- Hotels & Restaurants
- Shopping Malls
- Offices
- Hospitals
- Others
Distribution Channel
- Online
- Direct Sales
- Indirect Sales
Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
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