Portland, OR, March 09, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global hand dryer market generated $781.5 million in 2020, and is estimated to generate $3.10 billion by 2031, witnessing a CAGR of 12.9% from 2022 to 2031. The report offers a detailed analysis of changing market trends, value chain, top segments, key investment pockets, regional scenarios, and competitive landscape.
Increase in technological advancements, adoption of new innovation in hand dryer in rising economies, eco-friendly technology, product customizations and one-time investment drive the growth of the global hand dryer market. Moreover, adoption of effective drying technology and rise in health awareness in BRIC countries create new opportunities in the coming years.
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Covid-19 Scenario:
- The outbreak of the Covid-19 pandemic had a slightly positive impact on the global hand dryer market. Automatic hand dryers provide a contactless hand-drying experience, which helps to greatly reduce infection spread, thus increasing the demand for hand dryers in the market. An upward trend has been noticed in the revenue of the key market players in the fourth quarter of 2020-2021.
- However, the global hand dryer market is expected to witness a V-shaped recovery during the post-pandemic era.
The report offers detailed segmentation of the global hand dryer market based on type, end user, mode of operation, and region.
Based on type, the jet hand dryer segment held the highest market share in 2020, accounting for nearly two-thirds of the total market share, and is projected to maintain its leadership status during the forecast period. However, the hot hand dryer segment is estimated to grow at the fastest CAGR of 13.3% from 2022 to 2031.
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Based on end-user,the food processing and service industry segment accounted for the largest share in 2020, contributing to nearly one-third of the global hand dryer market, and is expected to maintain its lead position during the forecast period. However, the hospitals and clinics segment is projected to portray the highest CAGR of 13.4% from 2022 to 2031. The report also includes an analysis of hotels, commercial complexes, and office building segments.
Based on region, Europe contributed to the highest share in 2020, accounting for nearly one-third of the total share. However, Asia-Pacific is projected to manifest the largest CAGR of 13.3% during the forecast period.
Leading players of the global hand dryer market discussed in the research include American Dryer Inc, Mitsubishi Electric Corporation, AB Electrolux, Dyson Ltd, Hokwang Industries Co. Ltd, Panasonic Corporation, Excel Dryer, Inc, HygenEco Systems, LLC (Bio JetDrier), Palmer Fixture, and World Dryer Corporation.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
