**Embracing Lucrative Opportunities: The Booming Hand Dryer Market**
In a recent groundbreaking report, titled “Hand Dryer Market Analysis and Forecast from 2023 to 2031,” industry experts shed light on the impressive growth trajectory and immense potential of the keyword market. This thriving sector has become a hotspot for savvy investors and stakeholders looking to capitalize on its rapid expansion.
The report leaves no stone unturned in its comprehensive analysis, delving into a wide range of factors that drive the market’s impressive growth. It meticulously segments the market based on Regions, Country, Company, and other key segments, providing invaluable insights for businesses seeking to make informed decisions and gain a competitive edge.
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The global hand dryer market held a market value of USD 1,014.4 million in 2021 and is estimated to reach USD 2,928 million by the year 2030. The market is anticipated to register a CAGR of 12.82% during the forecast period. Moreover, the hand dryer market volume is 3,430.5 thousand units in 2021 owing to the rising demand.
The hand dryer market is rising at a substantial rate owing to increasing product adoptions, requirement for low operational spending, rise in demand for clean energy technology, and continuously increasing acceptance of innovative hand dryers in the emerging countries. Many end user industries, such as healthcare, offices, among others, prefer fully automatic hand dryers, with less noise emission.
On the other hand, the high initial installation cost of the devices depletes the preference rate of hand dryers by the customers, thus, hampering the growth rate of the market to a certain extent.
Growth Influencers:
Growing demand for environmental-friendly devices
The governments in many emerging countries, as well as private agencies and stakeholders in the energy industry are raising awareness regarding the use of clean energy, sustainable products, and devices that cause less damage to the environment. Thus, such moves are favouring power-saving devices, as well as paper saving initiatives, thus contributing to the growth of the hand dryers market.
Increasing number of construction activities
The growing infrastructural opportunities and developments all around the globe is contributing directly to the high demand of hair dryers. The inclination of customers towards smart infrastructure is aiding in the growth rate. Moreover, the rising number of restaurants, food chains, resorts, and hotels pave the way for innovative hand drying devices.
Segments Overview:
The global hand dryer market is segmented into product, drying mechanism, automation, mounting technique, and end user.
By Product
? Hands-in Dryer
? Hands-under Dryers
o Blade
o Jet
o High-speed
The hands-in dryer held the largest market share of around 58% owing to the increased use of this type of product by the target audience. On the basis of hands-under dryers, the jet subsegment volume is projected to hit 837 thousand units by 2030.
By Drying Mechanism
? Hot Hand Dryer
? Jet Hand Dryer
? Hybrid
The hot hand dryer segment value is anticipated to be nearly 72% of jet hand dryer market size in 2021 and is projected to be approximately 69% by 2030. The hybrid segment is expected to be the fastest growing with a CAGR of nearly 13.9%.
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By Automation
? Automatic
? Manual
The automation segment is anticipated to be fastest growing owing to increasing demand for selective end user industries, such as hospitals, which require noise cancelation.
By Mounting Technique
? Surface Mounted
? Wall Mounted
The wall mounted technique held the largest share and is anticipated to be the fastest growing due to the high availability of this type of hand dryers.
By End User
? Healthcare
? Hospitality
o Hotels & Restaurants
o Quick Service Restaurants (QSRs)
o Others
? Commercial Spaces
? Industrial
? Offices
? Airports
? Educational Enterprises
? Government Spaces
? Others
The hospitality segment held the largest segment of nearly 57% owing to the increased policies and requirements to maintain hygienic conditions and to lower any infection spread. The government spaces segment market value is projected to hit 58.9 USD million by 2030.
Regional Overview
By region, the global hand dryer market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The North American hand dryer market is expected to hold the largest market share owing to the increasing adoption of technologically advanced hand dryers in the countries, such as US and Canada. Furthermore, Asia Pacific market for hand dryers is supposed to grow the fastest with a CAGR of more than 14% due to the continuous product innovations and presence of prominent players in the region.
The European market for hand dryers is anticipated to grow at a steady rate owing to the rising awareness and continuous usage. Furthermore, the Middle East & African market volume for hand dryers is anticipated to cross 233 thousand units by 2030.
Competitive Landscape
Key players operating in the global hand dryer market include American Dryer, LLC, Aqualoo- West Coast Commercial Industries (WCCI) Pty Ltd, Bobrick Washroom Equipment, Inc., Bradley Corporation, Dyson Technology India Pvt Ltd., Electrostar GmbH, Euronics Industries, Excel Dryer, Inc., Jaguar Group Sdn. Bhd, Mitsubishi Electric Corporation, Panasonic Corporation, Saniflow Corporation, SPL NZ, Taishan Jie Da Electrical Co., Ltd., Toto Ltd., World Dryer, among others.
The key ten players in the market hold approximately 35% to 45% of the market share. These market players are investing in product launches, collaborations, mergers & acquisitions, and expansions to create a competitive edge in the market. For instance, in October 2020, Panasonic launched a hairdryer in India powered with Panasonic?s patented nanoe and Platinum ions technology. The company has sold more than 10 million nanoe hairdryers worldwide, and this innovative product caters to the growing grooming-at-home needs of consumers, priced at INR 6,999, and available on ecommerce sites.
The global hand dryer market report provides insights on the below pointers:
? Market Penetration: Provides comprehensive information on the market offered by the prominent players
? Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
? Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
? Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the global Hand dryer market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
? Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
? Pricing Analysis: Pricing analysis of various metals and other components used in the manufacturing of hand dryers
? Manufacturing Cost Analysis: Cost-share of various components in hand dryers, cost analysis of hand dryers, Unit Cost Analysis of hand dryers, Component Cost Analysis ? hand dryers
The global hand dryer market report answers questions such as:
? What is the market size and forecast of the global hand dryer market?
? What are the inhibiting factors and impact of COVID-19 on the global hand dryer market during the assessment period?
? Which are the products/segments/applications/areas to invest in over the assessment period in the global hand dryer market?
? What is the competitive strategic window for opportunities in the global hand dryer market?
? What are the technology trends and regulatory frameworks in the global hand dryer market?
? What is the market share of the leading players in the global hand dryer market?
? What modes and strategic moves are considered favorable for entering the global hand dryer market?
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Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Key Reasons to Purchase this Report:
Strategic Direction: This research report provides insightful analysis and strategic advice for senior executives, decision-makers, professionals, sales managers, and other market stakeholders working in this space. It aids in decision-making and offers strategic recommendations for product advancements.
Comprehensive Analysis: Both economic and non-economic aspects are taken into account in the report’s thorough qualitative and quantitative analysis of the market. For a complete knowledge of market dynamics, it contains a segment breakdown with market evaluations expressed in terms of value (USD Billion) for each segment.
Growth Opportunities: The research highlights the geographies and market categories predicted to expand at the highest rates, potentially positioning them to dominate their respective markets. It offers a thorough examination of consumption trends in various geographic areas and highlights the variables affecting regional market trends.
Competitive Landscape: The competitive landscape section lists the top market rivals and discusses current business expansions, collaborations, product launches, and acquisitions. This data makes it easier to evaluate significant players’ market positions.
Detailed Company Profiles: These include their company description, insights, product benchmarking, and SWOT analysis, providing a thorough picture of the major market participants. Stakeholders are able to assess the advantages and disadvantages of the leading market players due to these profiles.
Future Market Outlook: The study presents recent trends, growth prospects, drivers, challenges, and restraints in both emerging and developed regions. It also includes current and future market outlooks. It gives stakeholders knowledge of potential industry trends and aids in their prediction of upcoming market dynamics.
Industry Analysis: Using Porter’s Five Forces Analysis, the research provides a comprehensive analysis of the industry, looking at factors such as the bargaining power of customers and suppliers, rivalry among businesses, the threat of alternative products, and the threat of new entrants. This research helps to comprehend how fiercely the market is competitive.
Value Chain Insights: Through a thorough examination of the value chain, the research offers insightful information about the market. This aids stakeholders in comprehending the main processes and actors involved in the creation and supply of the good or service.
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