The “Hand Dryer Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Hand Dryer Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global hand dryer market is anticipated to reach around $1,930 million by 2027.
In 2021, the jet air hand dryer segment dominated the global market, in terms of revenue. Europe was the leading contributor to the global market revenue in 2021.
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Growing concerns regarding environment, increasing need to reduce energy consumption, and growing need for energy efficient equipment support the growth of hand dryer market during the forecast period. There has been an increasing demand of hand dryers from hotels and restaurants, airports, shopping malls, railway stations, and commercial buildings among others has increased adoption of hand dryers in the recent past. Additionally, energy efficient buildings and need to reduce operation costs would boost growth during the forecast period. Other factors supporting market growth include growing need to reduce wastage of water and paper, increasing awareness, and technological advancements. Furthermore, increasing investments by vendors in technological advancements coupled with research and development further boost the hand dryer market growth.
The demand for advanced and energy efficient hand dryers has increased over the years owing to increasing energy concerns, and environment consciousness across the globe. The increasing awareness among consumers regarding use of energy efficient and smart technology further boosts the adoption of hand dryers. The rising awareness regarding use of eco-friendly solutions, development of smart infrastructure, and increasing adoption of energy efficient buildings are factors expected to promote the hand dryer market growth during the forecast period.
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COVID-19 Impact
The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the Hand Dryer Market also experienced a slowdown. Statista estimates that the Hand Dryer Market total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the Hand Dryer Market generated revenues of US$ 5.4 trillion at a record high.
The degree of competition among prominent global companies has been developed by analyzing several leading competitors operating globally. In addition, specialist analysts examine various aspects of the Hand Dryer Market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.
Europe generated the highest revenue in the hand dryer market in 2017. The increasing awareness among consumers regarding use of energy efficient equipment, and growing development of energy efficient buildings drive the market growth in the region. Consumers are adopting hand dryers to increase energy efficiency, and reduce operation costs. Numerous key players have adopted partnership and expansion strategies to increase their market share in the markets of the European region.
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The major players in the hand dryer market includes Dyson Ltd., Mitsubishi Electric Corporation, Jaquar & Company Pvt Ltd, American Dryer, Inc., Panasonic Corporation, Excel Dryer, Inc., Bradley Corporation, Saniflow Corporation, World Dryer Corporation, and Bobrick Washroom Equipment, Inc. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
Why to purchase this report :
- The report would provide an in-depth analysis on the current and future market trends
- Analysis on global, regional and country level markets
- Key strategic initiatives taken by major players operating in the market along with ranking analysis for the key players
- Analysis based on historical information along with the current trends to estimate the future of the market
- Analysis of the impact of constantly changing global market scenarios
What are the key findings of the report?
This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
The report offers the current state of the market and future prospects for various geographical regions.
This report provides both qualitative and quantitative information about the competitive landscape of the market.
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