Acumen Research and Consulting, recently published report “Hand Dryers Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026”.
LOS ANGELES, April 26, 2019 (GLOBE NEWSWIRE) -- The global Hand Dryers Market size is estimated to grow at CAGR above 11 % over the forecast time frame 2019-2026 and reach the market value around USD 1.9 billion by 2026.
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Reduction of oil and gas reserves is a major contributing factor to market growth. The one ton towels of paper are made of over 464 gallons of petroleum and 42 gallons of petrol. Hand dryers reduce gas and fuel consumption and contribute to greener solutions. Demand for these products increases as the chaos caused by the use of paper towels is eliminated and the toilet appearance is improved.
The use of hand dryers instead of paper towels is one of the measures to reduce water waste. The production of one ton of paper towels employs about 7,000 gallons of water. Hand dryers don't involve the use of such a huge amount of water in the production process. Demand for these products is forecast to rise due to the increased need for water conservation and the growing demand to reduce paper towel spending.
Even in developing countries like India and China, environmental and health and worker safety legislation is evolving rapidly as a result of global operational standardization. International initiatives have long been at the forefront of international markets and have played an important part in regulatory change worldwide.
The availability of numerous hotels and restaurants means that Europe has the highest market share compared to other regions. In addition, there are many tourist attractions on the European continent, which led to a significant growth in the hotel industry.
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Growth Factors
A prominent strategic feature in the global hand-harvest market is a product launch showcasing new technology for producing products to meet customer requirement. In addition to the existing players' product portfolio, new technological developments within the product further contribute to keeping the market competitive. With this development, companies attempt to reduce the level of noise in their products and reduce the spread of bacteria in the washroom. Global customers prefer silent and highly efficient hand dryers that take less time. In order to promote the market for hand dryers, rapid technological advances leading to the development of efficient and environmentally friendly products also act. These developments have led to lower noise levels, leading to increased placement in hospitals and public offices by product manufacturers. Besides this, low electricity consumption and low maintenance costs of hand dryers are also responsible for their increased installation in common washrooms.
Market Snapshots
Jet air dryers will remain dominant during the projected period, due to their extensive adoption throughout the world. The segment was the largest market share in 2018, and will grow from 2019 to 2026 with the most high CAGR.
Less human intervention, which helps to improve efficiency and reduce operational costs, includes fully automatic Hand Dryers. The fully automated hand dryer segment therefore represents the largest market share.
Hand dryers with Wall mounts facilitate installation and operation, in particular in public washrooms where space is an issue. In addition, thanks to its mounting process, wall-mounted hand dryers are easy to maintain and are easily operational. The greater acceptance of wall mounted devices is responsible for all of these factors, which represent a large market share.
In 2018, there was a larger market proportion for the hotel and restaurant industry. The whole of the market for hand dryers was dominated by around 900 thousand shipments in 2018.
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Key Players & Strategies
The Hand Dryers market is consolidated with large number of manufacturers. The company profiling of key players in the market includes major business strategies, company overview and revenues. The key players of the market are American Dryer, LLC.; Electrostar; Jaguar Group Sdn. Dyson Technology India Pvt Ltd. SPS NZ, Bobrick Washroom Equipment Inc.; Euronics Industries Pvt Ltd; Saniflow Hand Dryer Corporation; Taishan Jieda Electrical Co.; Excel Dryer, Mitsubishi Electric Corporation; Spl SPS NZ. World Dryer Corporation and Ltd. among others.
Providing technologies that increase efficiency, reduce energy usage and are low in maintenance costs, increasingly emphasises manufacturers. In order to achieve a competitive edge, major industry players invest heavily in research and development to develop innovative products.
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