Hand Drying Machine Market Opportunities and Forecast By 2030

Description

According to the Market Statsville Group (MSG), the global hand drying machine market size is expected to grow from USD 1,087.1 million in 2021 to USD 2848.9 million by 2030 at a CAGR of 11.3% from 2022 to 2030. A hand dryer is a device with a heating element and an air blower used to dry the hands after they have been washed. The machine is used in public restrooms as a low-cost alternative to paper towels. The use of hand dryers reduces drying times as well as operational costs. With the environmental concerns and rising energy costs, market players are increasingly developing energy-efficient hand dryers. Energy-efficient hand dryers provide advantages such as reduced power consumption and faster drying time. Hand dryers have fast reaction sensors and highly responsive motors for the quick response and maximum energy efficiency.

The increasing demand for hand dryers from end-users such as hotels and restaurants, commercial buildings, shopping malls, and airports, among others, has increased the adoption of hand dryers, positively influencing the growth of the market. The rising awareness about the use of eco-friendly solutions, the development of smart infrastructure, and the increasing adoption of energy-efficient buildings all contribute to the growth of the hand dryer market. Rising demand from emerging economies and increased consumer awareness is expected to provide numerous growth opportunities in the coming years.

COVID-19 Impact on the Global Hand Drying Machine Market

The COVID-19 pandemic has put an enormous financial strain on the consumer electronics and home appliance industry sectors. The raw material supply chain is one of the most important parts of the hand dryer market's value chain. Key players and vendors are experiencing difficulties due to poor logistics and restrictions on public movement in affected countries worldwide, which can lead to supply disruptions. Trade restrictions imposed by several economies to combat the spread of COVID-19 have had a significant impact on logistics and transportation, which is expected to have a negative impact on the hand dryer market.

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Scope of the Hand Drying Machine Market

The study categorizes the hand drying machine market based on product type, machine type, mode of operation, and end-User at regional and global levels.

By End-Users Outlook (Sales, USD Million, 2017-2030)

• Hotel
• Restaurant
• Hospital
• Commercial Malls
• Others

By Product Type Outlook (Sales, USD Million, 2017-2030)

• Hand-In
• Hand-Under

By Machine Type Outlook (Sales, USD Million, 2017-2030)

• Hot Hand Dryers
• Jet Hand Dryers

By Mode of Operation Outlook (Sales, USD Million, 2017-2030)

• Push Button
• Automatic

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By Region Outlook (Sales, USD Million, 2017-2030)

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Italy
  • France
  • UK
  • Spain
  • Poland
  • Russia
  • Slovenia
  • Slovakia
  • the Netherlands
  • Belgium
  • Norway
  • Denmark
  • Czech Republic
  • Sweden
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Malaysia
  • Thailand
  • Vietnam
  • the Philippines
  • Singapore
  • Australia & New Zealand
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Colombia
  • Rest of South America
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
  • Northern Africa
  • Rest of MEA

The jet hand dryers segment is projected to account for the largest market share, by machine type

Jet hand dryers had the highest revenue share in 2021 and are expected to dominate the market throughout the forecast period.  Jet hand dryers are gaining popularity worldwide due to their low energy consumption and short drying time. Panasonic Corp. and Dyson Ltd. are concentrating on introducing new products in this category in a plan to enlarge their market reach.

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Europe accounts for the highest market share

Europe is projected to gain the highest market share in 2021, owing to the rise in environmental concerns and increased health awareness among residents. Moreover, the growing infrastructure development and high adoption for automatic hand dryers in this region have fostered the market’s growth. However, the Asia Pacific will create a lucrative growth opportunity in the upcoming period, contributing to the highest CAGR in the market.

Key Market Players in Hand Drying Machine Market

• American Dryer
• Dyson
• Electrostar
• Euronics Industries
• Excel Dryer
• Jaquar Group
• Mitsubishi Electric
• Panasonic
• Saniflow Hand Dryer
• Bobrick Washroom Equipment

Article source: https://article-realm.com/article/Finance/23240-Hand-Drying-Machine-Market-Opportunities-and-Forecast-By-2030.html