Dublin, April 23, 2021 (GLOBE NEWSWIRE) -- The "Commercial Laundry Machinery - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Commercial Laundry Machinery is projected to reach US$5.7 billion by 2025, driven by the robust growth and evolution of the lodging services and travel accommodation market.
Few of the factors driving growth of travel, tourism, lodging and hotel industry include rising volumes of international tourism and domestic vacations supported by rising incomes and falling airline fares; increased infrastructural developments; increased use of digital tools for flight and accommodation booking in a manner that makes the process cost-effective, easy and convenient. Government initiatives are turning Asian countries into hot tourist destinations.
The importance of clean and quality linen in the hotel industry cannot be undermined. Good quality towels and bed linen plays over a 90% role in influencing the satisfaction and overall experience of hotel guests. Stained or poor quality bed linen increases the risk of losing repeat customers by over 95%, drastically reducing the likelihood of customers booking a room with the hotel in the future.
However, maintaining in-house laundry care operations is expensive, given the rising cost of labor. Economically unsustainable wage growth is quickly becoming a threat to competitiveness of the hotel industry. This high cost of labor is resulting in the switch from internal operations to outsourced services. Over 65% to 70% of hotels are outsourcing washing of their bed linen and towels to a laundry service provider. The scenario provides the perfect platform for increased installation of commercial laundry machines by service providers to meet the growing demand for, and increase in laundry care contracts.
Few of the noteworthy trends in the market include growing focus on environmental health and the ensuing rise in interest in energy-efficient, eco-friendly water-saving machines; increased spending by hotels on amenities like cleaning and housekeeping services; technology improvements such as washer-extractors with high g-force extraction and tumbler-dryers with over-dry prevention; demand for machines with temperature and moisture control sensors that prevent damage to delicate fabric and ensure safe laundering of clothes; development of laundry machines capable of heating water to a temperature as high as 190 degrees to eliminate bacteria and dust mites from laundry in response to deep cleaning needs. The United States and Europe represent large markets worldwide with a combined share of 64.8% of the market.
The launch of new laundry equipment with innovative features such as enhanced water conservation, energy efficiency, speed, compactness and automated-operation capabilities will encourage replacement demand growth in the developed markets.
China ranks as the fastest growing market with a CAGR of 7.4% over the analysis period supported by under-penetration of laundry services and untapped opportunity for growth against the backdrop of the expanding base of upwardly mobile middle class population and their increasing aspirational spending guided by changing perceptions of comfort, convenience and wellness.
Other major factors driving growth in the country include rapid urbanization; development of Chinese tourism, rise of medical tourism; and increased establishment of commercial laundry facilities.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- An Introduction to Commercial Laundry Machinery
- Commercial Laundry Machinery: Current Market Scenario and Outlook
- Factors Affecting Consumer Purchases
- While Developed Regions Remain Dominant Consumers, Developing Regions Extend Robust Growth Opportunities
- Segmental Analysis
- Washing Machines: Largest Product Segment
- Washer-Extractors, the High-Capacity Washing Machines, Emerge in the Market
- Commercial Dryers Segment Continues to Make Gains
- Dry Cleaning Equipment Segment Exhibits Fast Paced Growth
- Role & Importance of Commercial Laundry Presses Remains Intact
- Market for Presses & Finishing Equipment: Characterized by Regional Variations
- Commercial Wet Ironing Machines: An Overview
- COMPETITIVE SCENARIO
- Leading Players in the World Commercial Laundry Machinery Market
- Vendors Emphasize Service Vertical to Maintain Client Base
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS(Total 114 Featured):
- Alliance Laundry Systems, LLC (USA)
- BOWE Textile Cleaning GmbH (Germany)
- CMV Sharper Finish, Inc. (USA)
- Dexter Apache Holdings, Inc. (USA)
- Dexter Laundry (USA)
- EDRO Corporation (USA)
- Electrolux Professional AB (Sweden)
- Forenta LP (USA)
- Girbau S.A. (Spain)
- Hoffman/New Yorker, Inc. (USA)
- IFB Appliances (India)
- JLA Limited (UK)
- Kannegiesser E-Tech, Inc. (USA)
- Kenmore (USA)
- LG Electronics (South Korea)
- Miele Inc. (USA)
- Pellerin Milnor Corporation (USA)
- Qualitex Company (USA)
- Shanghai Sailstar Machinery (Group) Co., Ltd. (China)
- Unipress Corporation (USA)
- Whirlpool Corporation (USA)
3. MARKET TRENDS & DRIVERS
- Hotels: Major Consumers of Commercial Laundry Machinery
- Booming Lodging Services & Travel Accommodation Market Leads to Increased Use of Commercial Laundry Machinery in Hotels
- Global Travel Accommodation Market (In US$ Billion) for the Years 2018, 2020, 2022, 2024, & 2026
- Healthcare Sector Emerges as New Growth Vertical
- Widening Opportunities Beyond Hotels and Hospitals Enthuse Commercial Laundry Machinery Market
- Industrial Entities & Fire Stations Prioritize Commercial Laundry Machinery for Clean PPE
- Sustained Demand from Prisons & Correctional Facilities Segment
- Linen Rental Businesses: Niche Segment
- Waterparks Rely on On-Premise Units to Handle High-Volume Laundry Needs
- Athletic Facilities, Gyms and Sports Organizations
- Salons and Spas
- Rising Demand for Laundromat Services Augments Market Prospects
- Growing Importance of Multi-Housing Laundries Augurs Well
- Robust Demand for Dry Cleaning Services Enhances Overall Demand
- Amid Regulatory Curbs on PERC Usage, PERC Alternatives Proliferate Dry Cleaning Domain
- Select Alternatives to PERC and TCE that Perform Effectively in Textile Cleaning
- A Note on Anti-PERC Regulations
- Technology Innovations & Advancements Sustain Momentum in Commercial Laundry Machinery Market
- Latest Models Emphasize Automation, IoT and Wireless Connectivity Needs of Clients
- New Textile Materials Necessitate Amendments to Laundry Technology
- A Look Into Select Advanced Capabilities of Commercial Laundry Machines
- A Review of Select Recently Launched Commercial Laundry Solutions
- High Speed Laundry Machines with Shortened Cycle Time Come to the Fore
- Fast Growing Demand for Energy-Efficient, Green Laundry Technologies
- Low Water Consuming Laundry Machines Make a Cut
- Polymer Bead Cleaning: The New High-Tech Water Saving Laundry Technology
- Replacement Demand Supplements Overall Sales Volume
- Impact of Regulations and Legislations on Commercial Laundry Machinery Business
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
- Total Companies Profiled: 114
For more information about this report visit https://www.researchandmarkets.com/r/spknck