PUBLISHED DATE : May 2021 | Pages : 344
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Commercial Hand Dryer Market Size, Share, Trends Analysis Report by Product (Jet Air and Hot Air); Operation (Hands-in Dryer and Hands-under Dryer); Application (Education, Hospitality, Healthcare, Commercial Spaces, Corporate Spaces, Government Spaces, Industrial, and Others); Distribution (Offline (Dealers, Mass Market Players, Specialty Stores, and Electronic Stores) and Online); and Geography (APAC, North America, Europe, Latin America, and Middle East & Africa); Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021–2026
344 Pages
222 Tables
127 Charts
5 Regions
21 Countries
25 Companies
5 Market Segment
| Report Attribute | Details |
|---|---|
| MARKET SIZE (REVENUE) | USD 2 BILLION (2026) |
| MARKET SIZE (VOLUME) | 3 MILLION UNITS (2026) |
| CAGR | 8% (2021-2026) |
| Base Year | 2020 |
| Forecast Year | 2021–2026 |
| Market Segments | Product (Jet Air and Hot Air); Operation (Hands-in Dryer and Hands-under Dryer); Application (Education, Hospitality, Healthcare, Commercial Spaces, Corporate Spaces, Government Spaces, Industrial, and Others); Distribution (Offline (Dealers, Mass Market Players, Specialty Stores, and Electronic Stores) and Online) |
| Geographic Analysis | North America, Europe, APAC, Latin America, and Middle East & Africa |
| Countries Covered | US, Canada, UK, Germany, France, Spain, Italy, Benelux, Nordic, China, India, Japan, South Korea, Australia, Brazil, Mexico, Argentina, South Africa, UAE, Turkey, and Saudi Arabia |
The global commercial hand dryer market size by revenue to reach USD 2 billion by 2026, growing at a CAGR of 8% during the forecast period. The global market for commercial hand dryers is undergoing several transformations. The adoption of innovative commercial hand dryer products has increased among end-users worldwide, fueled by the rising emphasis on sustainable and smart infrastructure development such as infrastructure 4.0, along with IoT. Intensifying competition among key players has led to the introduction of innovative and advanced solutions in the market.
In terms of revenue, the commercial hand dryer market is likely to witness steady growth in the coming years. The existing and upcoming demand in the market can be broadly classified into new installations and replacements. Europe and North America are mostly expected to witness demand for replacements during the forecast period since these products have a life cycle of about ten years. The replacement demand arises due to an exponential increase in the footfall of visitors across several commercial spaces. However, preference for eco-friendly technology, high initial investment, technological advancements, and reduced noise levels are the primary factors contributing to the market’s growth.
Since the outbreak of the coronavirus pandemic across the world, there has been an increase in handwashing at homes, workplaces, and public spaces. This is because regular handwashing is one of the best weapons against the virus, which causes a flu-like respiratory illness that can prove to be fatal and spread rapidly among people across countries. Although there are hygiene norms at home, it is critical in the public environment to promote proper hand drying solutions in toilets and washrooms to reduce the potential transmission of bacteria and viruses.
This research report includes a detailed segmentation by
In terms of revenue, hot air hand dryers dominated the market with a share of over 51% in 2020. The segment is expected to record an incremental revenue of over USD 310 million during 2020−2026. The demand expects to grow rapidly in the APAC region owing to the rising hygiene concerns and the adoption of new technologies. The APAC region projects to grow at a CAGR of over 8% during the forecast period. While the application of hot air hand dryers is universal, increasing concerns over hygiene and bacterial infections are likely to hamper the commercial hand dryer market growth.
With the growing popularity of jet air hand dryers, the segment accounted for over 48% in terms of units. The COVID-19 outbreak created turmoil in the market, which has slowed down the demand for hand dryers. Vendors are increasing awareness of hand dryers through a combination of direct advertising, niche targeting, trade shows, and holistic marketing. However, with the advent and rising popularity of digital and social media marketing, gaining customers has increased drastically.
Commercial hand dryers accounted for a share of approx. 27% in terms of revenue and volume in 2020. The retail hand dryers market expects to grow at a CAGR of approx. 9% in APAC between 2020 and 2026. Expansion of airports, coupled with metro and railway station development, is a significant factor boosting the adoption of hand dryers. The demand for long-distance rail transport has already grown and is anticipated to grow as the rail network develops in Europe and Asia. Therefore, modernization of railways offers high scope for the growth of commercial hand dryers during the forecast period.
The growing awareness of hand hygiene is likely to boost the adoption of hand dryers in the hospitality sector. Increased investments in healthcare expenditure, emphasis on improved hygiene facilities, and the increasing number of innovative products are expected to boost the market growth for commercial hand dryers. The growing number of healthcare-associated infections has driven the demand for hand dryers in healthcare facilities. Healthcare is likely to account for revenue of about USD 10 trillion. The emergence of personalized medicine, the increased use of exponential technologies, the entry of disruptive and non-traditional competitors are significant factors boosting the commercial hand dryer market’s growth.
The global commercial hands-under dryer segment expects to reach over USD 950 million by 2026. The use of these dryers is safe, which expect to drive their application during the forecast period. Although hands-under dryers are mostly conventional products, increased emphasis on innovations and technological advances influences the market growth. A major factor affecting the growth is the introduction of automatic sensor-based dryers with heat advances. Europe is expected to generate the highest revenue by 2026, followed by APAC and North America. A key strategy adopted by key players is introducing differentiated products and solutions for different application segments. Hence, companies strive to offer differentiated channels for distribution and a better product mix, thereby catering to target customers' changing needs and requirements. Key manufacturers are offering and expanding their product line-up to launch innovative techniques, thereby gaining an edge over their market rivals. The hands-in hand dryer segment expects to project an absolute growth of 50% in Europe during 2020−2026 by unit sales. Hands-in dryers are comparatively higher than hands-under dryers; hence their preference is considerably increased in developed regions such as Europe and North America.
The commercial hand dryer market by offline segment expects to witness an incremental revenue of over USD 600 million during 2020−2026. Vendors have promoted sales via retail stores such as specialty stores and electronic stores, although selling these devices online is increasing in recent years. The online segment in Europe is likely to reach over USD 57 million by 2026. Retail sales constituted over 92% of the distribution model in 2020. Vendors in countries such as the US primarily sell their finished products through dealers, distributors, or the internet. In 2020, the retail segment was the largest revenue contributor to the global commercial hand dryer market. The online segment faces strong competition from the retail segment because of the established and growing retail network of manufacturers with mass orders, which has increased the visibility of these products on store shelves across the world. However, the online segment is witnessing high traction in the US and other APAC countries, particularly China and India.
The Europe commercial hand dryer market expects to reach over USD 668 million by 2026. One of the primary reasons for the high adoption of commercial hand dryers among European households is increased per capita disposable income. The improving economy in several European countries has grown the disposable income in the population. Further, higher living standards across societies in the region and the favorable trade environment are expected to drive the Europe commercial hand dryer market share. In addition, end-users in these countries are known to have a high annual savings ratio. European customers, especially Germans and the British, realistically take advantage of retail discounting fueled by retailers’ destocking as they are willing to pay more for a lavish lifestyle. This can increase the footfall in the hospitality sector, thereby fueling the demand for hand dryers in the hospitality and corporate sectors during the forecast period.
Excel Dryer, Mitsubishi Electric, Mediclinics, TOTO, and Rexnord are the prominent vendors in the commercial hand dryer market. The market has witnessed the entry of several vendors due to the high demand and the increased scope for innovations. These players compete on various factors such as price, operational efficiency, quality, eco-friendliness, and variety. However, pricing and operational efficiency are set to become a major criterion for competition among players to gain an edge over other vendors in the market. Further, the growth of vendors depends on GDP growth and urban development. Therefore, to attain sustainability, expansion into other geographies and revival of domestic demand are essential factors for market vendors. Vendors can enhance their revenue and profitability by practicing sound production techniques that minimize product costs and mitigate associated risks. As the market demand is mainly met via dealers and distributor networks, vendors can consider developing strategic channels with prominent commercial infrastructure construction players to gain a stronghold on existing demand in the respective markets.
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