Hand Dryer Market to Reach $3.55 Billion, by 2032 at 10.84% CAGR: Says The Brainy Insights
The global hand dryer market is anticipated to grow from USD 1.27 billion to USD 3.55 billion in 10 years. The forthcoming forecast period is expected to bring about fresh opportunities for the hand dryer market, fueled by the increasing technological advancements and modernization in the education sector. Additionally, the uptick in research and development endeavours, coupled with growing demand from emerging economies, will contribute to the expansion of this market.
Newark, Oct. 24, 2023 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the USD 1.27 billion in 2022 global hand dryer market will reach USD 3.55 billion by 2032. The COVID-19 pandemic has accentuated the essence of hygiene and reduced contact in public spaces. The demand for touchless and hygienic hand dryers with features like HEPA filters is expected to continue to rise. Additionally, integrating smart technology, such as sensors, data analytics and connectivity, can deliver useful insights for facility managers. Smart hand dryers can offer data on usage patterns and maintenance needs, improving overall efficiency. Moreover, the healthcare sector is a promising market for hand dryers. Developing hand dryers specifically designed for healthcare environments, with advanced hygiene features and compliance with healthcare regulations, can be a lucrative niche. Also, developing hand dryers with advanced, durable materials can extend the product’s lifespan and reduce maintenance costs. Materials that are uncomplicated to cleanse and maintain can be a selling point. Besides, existing restrooms with outdated or inefficient hand dryers present opportunities for replacements and upgrades. Manufacturers can target retrofitting projects in commercial and public buildings.
Get more insights from the 230-page market research report @ https://www.thebrainyinsights.com/enquiry/sample-request/13770
Key Insight of the global Hand Dryer market
Asia Pacific is expected to witness the highest market growth over the forecast period.
The Asia Pacific region is experiencing rapid urbanization, with many urban areas, commercial complexes, airports, and other public facilities. This trend drives the demand for efficient hand-drying solutions in these high-traffic locations. In addition, rising disposable income levels in nations like China and India have increased consumer spending on modern amenities and technologies. This factor includes the adoption of hand dryers in commercial and public spaces. Also, several countries in the Asia Pacific region have introduced initiatives to promote energy efficiency and sustainability. These initiatives often come with incentives and rebates for businesses that invest in energy-efficient hand-drying solutions. Asia Pacific countries are increasingly focused on environmental sustainability and reducing waste. Hand dryers are considered eco-friendly alternatives to paper towels, as they minimize waste generation, aligning with the region’s commitment to sustainability. Besides, the healthcare sector in the Asia Pacific is expanding, and hygienic hand-drying solutions are essential in healthcare facilities. The emphasis on hygiene and sanitation in healthcare settings contributes to the growth of the hand dryer market.
In 2022, the jet air segment dominated the market with the largest share of 65.14% and revenue of 0.83 billion.
The product segment includes jet air and hot air. In 2022, the jet air segment dominated the market with the largest share of 65.14% and revenue of 0.83 billion.
In 2022, the automatic segment dominated the market with the highest share of 72.58% and market revenue of 0.92 billion.
The mode of operation segment is classified into automatic and manual. In 2022, the automatic segment dominated the market with the highest share of 72.58% and market revenue of 0.92 billion.
In 2022, the wall mounted segment held the largest market share at 62.85% and a market revenue of 0.80 billion.
The mounting segment is divided into surface mounted and wall mounted. In 2022, the wall mounted segment held the largest market share at 62.85% and a market revenue of 0.80 billion.
In 2022, the hotel & restaurants segment held the largest market share at 26.81% and a revenue of 0.34 billion.
The end user segment is split into airports, hotel & restaurants, hospitals, offices, shopping malls, and others. In 2022, the hotel & restaurants segment held the largest market share at 26.81% and a revenue of 0.34 billion.
Custom Requirements can be requested for this report @ https://www.thebrainyinsights.com/enquiry/request-customization/13770
Advancement in market
In April 2022, Euronics introduced the NERO series in the Indian market, comprising a sensor tap, an automatic soap dispenser, and a cutting-edge hand dryer. Euronics Hand Dryers are meticulously designed with a high-velocity air stream to guarantee thorough removal of water droplets and vapour, resulting in lightning-fast hand drying within seconds. Their energy-efficient technology positions them as the preferred choice in the market. These hand dryers find applications in various settings, such as restaurants, offices, hotels, shopping malls, airports, and other public places. Importantly, they contribute to up to 80% of energy savings compared to conventional hand dryers, fostering a hygienic and germ-free environment.
Driver: Government regulations along with cost savings benefits.
Various governments have implemented regulations and standards to encourage using energy-efficient appliances. This factor has driven the adoption of energy-efficient hand dryers, which comply with these regulations. In addition, hand dryers can be cost-effective in the long run as they eradicate the constant expenditure of buying and disposing of paper towels. This cost-saving aspect has made them an attractive choice for businesses and public facilities. Furthermore, some consumers prefer hand dryers due to their convenience and speed. This preference and the rising trend of touchless technology drive the market’s growth.
Restraint: Perception of ineffectiveness.
In some cases, users may perceive hand dryers as less effective at drying hands compared to paper towels. This perception can affect user satisfaction and the overall adoption of hand dryers. Also, while energy-efficient hand dryers are available, older models and those lacking energy-saving features can consume a significant amount of electricity. This factor can concern businesses aiming to reduce their energy costs and environmental footprint.
Opportunity: Emerging markets and the availability of customization and aesthetics hand dryers.
Hand dryers with customizable designs, colours, and finishes offer opportunities in the market. Businesses, hotels, and public facilities are looking for hand dryers that match their interior decor and brand identity. Additionally, hand dryer adoption in emerging markets, where urbanization and infrastructure development are on the rise, presents substantial opportunities for market expansion. Besides, businesses are increasingly focused on corporate social responsibility. Partnering with companies to provide sustainable hand-drying solutions can be a strategic opportunity.
Challenge: Health and safety concerns and availability of alternatives.
Concerns about the spread of germs and bacteria through aerosolizing water droplets when using high-speed hand dryers have led to discussions about the health and safety implications of hand dryers. Also, ensuring that hand dryers are user-friendly for individuals with disabilities or those requiring accommodations can be challenging, as hand dryers must comply with accessibility regulations. However, alternatives to hand dryers, such as cloth towels, air blade dryers, and other drying methods, continue to compete for market share.
Have a question? Speak to Research Analyst @ https://www.thebrainyinsights.com/enquiry/speak-to-analyst/13770
Some of the major players operating in the global hand dryer market are:
• American Specialties, Inc.
• Bradley Corporation
• Bobrick Washroom Equipment, Inc.
• Dyson Group
• Euronics Industries Pvt Ltd.
• Excel Dryer Inc.
• Hokwang Industries Co. Ltd.
• Jaquar Group
• JVD SAS
• Mediclinics S.A. (Saniflow Corporation)
• Mitsubishi Electric Corporation
• Panasonic Corporation
• Palmer Fixture
• SPL Group
• TOTO Ltd.
• Taishan Jieda Electrical Co., Ltd.
• World Dryer
• ZheJiang MoDun Sanitary Ware Co., Ltd.
Key Segments cover in the market:
• Jet Air
• Hot Air
By Mode of Operation
• Surface Mounted
• Wall Mounted
By End User
• Hotel & Restaurants
• Shopping Malls
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion) and volume (K Units). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirements whether they are looking to expand or planning to launch a new product in the global market.
Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. AfternoonHeadlines.com takes no editorial responsibility for the same.