Dublin, Dec. 17, 2021 (GLOBE NEWSWIRE) -- The "Europe Coin-operated Laundries Market Size, Share & Trends Analysis Report By Application (Residential, Commercial), By Country (Germany, U.K., France, Spain, Italy, Russia), And Segment Forecasts, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
Europe's coin-operated laundries market size is anticipated to reach USD 7.5 billion by 2028. It is expected to expand at a CAGR of 9.1% from 2021 to 2028. The industry has undergone a revolution. Laundromats are no longer dingy, unsafe, and tedious places that customers must endure on a weekly basis, and have instead become fun and attractive multiservice centers that customers may even enjoy visiting. Modern-day businesses have snack bars, a place to leave off and pick up dry cleaning, and video games. Some of them even use additional methods of payments instead of exclusively being dependent on coins. Many laundry owners also employ attendants to keep an eye on the store and help customers use the equipment.
In addition, owners have realized that they can maximize their profits by providing customers with access to multiple services. Since they pay a set amount of rent on their commercial space, they have started to use that space to its fullest potential. Coin-operated laundry firms are located in apartment housing and are referred to as multi-housing laundry businesses or route laundry businesses. These businesses thrive in periods of both growth and recession. During periods of recession, when homeownership decreases, the self-service laundry market expands as more people are unable to afford to repair, replace, or purchase new washers and dryers, or as they move to apartment housing with inadequate or nonexistent laundry facilities. The market size grows proportionately to the increase in population.
Moreover, most hotels, hostels, and temporary lodging establishments offer coin-operated laundry services for their guests. Hotels often have an agreement that lets guests use laundromat services. In January 2021, Springboard Hospitality expanded its roster of Hawaii properties with the addition of Ohia Waikiki Studio Suites. The studio suit, along with offering 251 apartment-style accommodations, full kitchens, pool, bar, and restaurant, also offers coin-operated laundry facilities. Similarly, in November 2020, 304-room Marriott Tacoma Downtown was inaugurated, which, along with various facilities, also offers coin-operated laundry services.
Furthermore, Hybrid card-op laundry payment allows one to audit the amount of both coin and card sales in each of the machines. As money boxes near capacity, the one gets alerted by email and schedule the right time to have them emptied. Along with this, with an accurate system of accounting for machines, the collections get correctly deposited. Hybrid coin-and-card systems allow one to take the complexity out of dealing entirely with coins alone and save time. As a result, the acceptance of payment through various different channels can increase the traction and contribute to the growth of the industry.
Also, even though the COVID-19 pandemic is on the decline in terms of its impact, its economic impact continues to spread. From laundry businesses having to close down temporarily to closing up shop completely, the ripple effects that the outbreak has had and will continue to have on the national and global economies are unprecedented. For many Europeans, it was routine to run a quick wash at the local laundromat after coming home from work. However, with many Europeans still working from home, the need to go out and use these services has declined.
Europe Coin-operated Laundries Market Report Highlights
- The market is expected to witness a CAGR of 9.1% from 2021 to 2028
- The residential application segment accounted for the largest revenue share of 80.5% in 2020
- Germany held the largest revenue share of 17.1% in 2020
Companies Mentioned
- Elis SA
- COLAN Cordoba
- Quesada Laundry Service
- WASH' N DRY (LAVERIE LIBRE SERVICE)
- TECNITRAMO
- REMBLI
- LAVANDERIA LAVISA
- Broomfield Launderette
- Girbau
- Johnson Service Group PLC
Key Topics Covered:
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.4. Information Analysis
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Application Outlook
2.3. Country Insights
Chapter 3. Europe Coin-operated Laundries Market Variables, Trends & Scope
3.1. Market Introduction
3.2. Penetration & Growth Prospect Mapping
3.3. Industry Value Chain Analysis
3.3.1. Retail Chain Analysis
3.3.2. Profit Margin Analysis
3.4. Market Dynamics
3.5. Business Environment Analysis
3.5.1. Industry Analysis - Porter's
3.6. Roadmap of Europe Coin-Operated Laundry Market
3.7. Market Entry Strategies
3.8. Impact of COVID-19 on the Europe Coin-Operated Laundry Market
Chapter 4. Consumer Behavior Analysis
4.1. Consumer Trends and Preferences
4.2. Factors Affecting Buying Decision
4.3. Consumer Product Adoption
4.4. Observations & Recommendations
Chapter 5. Europe Coin-Operated Laundry Market: Application Estimates & Trend Analysis
5.1. Application Movement Analysis & Market Share, 2018 & 2025
5.2. Residential
5.3. Commercial
Chapter 6. Europe Coin-Operated Laundry Market: Regional Estimates & Trend Analysis
6.1. Regional Movement Analysis & Market Share, 2018 & 2025
6.2. Europe
6.2.3. Germany
6.2.4. UK
6.2.5. France
6.2.6. Spain
6.2.7. Italy
6.2.8. Russia
Chapter 7. Competitive Analysis
7.1. Key global players, recent developments & their impact on the industry
7.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
7.3. Vendor Landscape
7.3.1. Key company market share analysis, 2020
Chapter 8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/yo3svn
