Newark, NJ, March 04, 2020 (GLOBE NEWSWIRE) -- As per the report published by Fior Markets, the global laundry facilities & dry-cleaning service market is expected to grow from USD 118.9 Billion in 2018 to USD 275.21 Billion by 2026 at a CAGR of 11.06% during the forecast period from 2019-2026
Laundry usually includes the use of soap, detergents, and water to clean clothes. Dry cleaning wants technical skill and is favoured when the materials to be cleaned are delicate and cannot withstand the rough and tumble of a hand or machine wash. Owing to busy and challenging city life, people are more eager to pay laundry businesses to take care of their dirty laundry. Laundry services & dry-cleaning facilities is an item shaped by preparing numerous high driven innovation.
Increase in the amount of single person families, and growth in the healthcare services sector. Factors that negatively affected growth in the historic period were growth in consumers' preference for at-home washing, the emergence of automatic all-in-one household washing machines, a rise in real estate rental prices, and low profit margins.
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Growth in the hospitality sector, increasing internet penetration, rising franchising opportunity, faster economic growth, busy lifestyles of people and technological advances in the laundry industry will drive growth. Features that might deter the growth of the dry-cleaning and laundry services market in the future include changing clothing trends, rising minimum wages, shortages of skilled human resources, little dispersion of organized laundry services in developing economies, and changing industry guidelines.
Important companies operating in the global laundry facilities & dry-cleaning service market include Key players in the laundry facilities & dry-cleaning service market are are CSC Service Works, EnviroStar, Inc., Alliance Laundry Systems LLC, The Huntington Company, Yates Dry Cleaning & Laundry Services, LAVATEC LAUNDRY TECHNOLOGY GMBH, ZIPS Dry Cleaners, Angelica, Cleanly, FlyCleaners and among others. To improve their market situation in the global laundry facilities & dry-cleaning service market, the key players are now focusing on adopting the strategies such as mergers & acquisitions, product innovations, recent developments, joint venture, collaborations, and partnership.
- in February 2019, Tide, America’s most important skilled on clean, is making this a reality for people in hundreds of cities around the country this year with the launch of Tide Cleaners, an on-demand laundry and dry cleaning service meant at giving people the choice to devote more time on life and less time undertaking laundry.
- Commercial laundry and dry-cleaning equipment supplier EnviroStar Inc. (EVI) reports it has performed definitive merger agreements to obtain substantially all the assets and certain liabilities of fellow providers Worldwide Laundry Inc., also based in Miami, and Skyline Equipment Inc., based in Houston, Texas, using a combination of cash and EVI stock.
The retail laundry/dry clean services are dominating the market in 2018 at a CAGR of 11.65%
The type section is segmented into the retail laundry/dry clean services, coin-operated services, corporate/manufacturing laundry services, and others. The retail laundry/dry clean services are controlling the market in 2018. Dry cleaners are observing to inform their assembly procedure may want to reflect newer systems that automate sorting and tagging through technologies such as the cloud and Internet of Things. The dry cleaning segment is opening to incorporate electronic lockers inside office or apartment buildings that let customers to pick up and drop off their laundry 24/7. Then the customer is informed by text message when their clothing is prepared to be picked up at the locker. These above-mentioned factors are assigning towards the increased acceptance. The coin-operated laundries and drycleaners market is further segmented into coin-operated laundry routes and coin-operated laundries and dry-cleaning stores. The coin-operated laundries and dry-cleaning stores section was the main unit of the coin-operated laundries and drycleaners market in 2018 at 53.2% market share. The coin-operated laundry ways segment is anticipated to be the fastest-growing section profitable forward at a CAGR of 11.65%.
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Regional Segment Analysis of the laundry facilities & dry-cleaning service Market
- North America (U.S. , Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The regions analysed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. North America region dominated the global laundry facilities & dry-cleaning services market in 2018 where as the Asia Pacific region is growing rapidly in the market. Asia-Pacific was the main market for dry-cleaning and laundry services, accounting for 34.9% of the global market in 2018. It was trailed by North America, Western Europe and then the other regions. Moving forward, Eastern Europe and the Middle East will be the fastest growing regions in the dry-cleaning and laundry services market.
- North America is controlling the market. The growth of end-user industries such as food and beverage, oil and gas, and automotive is one of the major issues for the high growth of the laundry facilities & dry-cleaning services market in this region. Growing the U.S. consumer expenditure is measured to be a key indicator of the growing demand for laundry facilities & dry-cleaning services. Overview of technologically progressive products such as coin or card operated machines are expected to fuel the market growth over the forecast period. Some Laundromat operators have travelled from traditional coin-operated machines to more modern card-operated machines as these systems offers detailed information about machine use
- Asia-Pacific was the largest region. Chances exist for companies to increase to developing markets such as India, where customers are observing for affordable, hygienic places to do laundry.
About the report:
The global laundry facilities & dry-cleaning service market is analysed on the basis of value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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