Pune, India, July 12, 2023 (GLOBE NEWSWIRE) -- The industrial laundry machine market size to hit USD 3.86 billion by 2030, growing at CAGR of 5.3% during 2023 to 2030. The global market size was valued USD 3.86 billion in 2022. The market is expected to reach USD 3.86 billion by 2030 with a CAGR of 5.3% during the forecast period. Due to daily cloth cleaning and drying activities, consumers seek features, such as proper tracking, process automation, and information management, in industrial laundries, which are set to push market growth. Technological developments in the laundry systems have led to the development of advanced laundry machines, which is projected to aid market development. Fortune Business Insights presents this information in their report titled "Global Industrial laundry machine Market, 2023–2030."
List of Key Players Profiled in the Report:
- MAG Laundry Equipment (U.K.)
- Laundrylux Inc. (U.S.)
- Herbert Kannegiesser GmbH (Germany)
- Vega Systems Group (Netherlands)
- Lavatec Laundry Technology GmbH (Germany)
- Girbau Group (Spain)
- Jensen Group (Belgium)
- Ferrotec Holding Corporation (Japan)
- Domus (Italy)
- Pellerin Milnor Corporation (U.S.)
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Key Industry Development :
Girbau, a leader in laundry solutions, presented an innovative self-service model named La Mamorta in the laundry market. The facility comprises cutting-edge technologies that provide a one-stop solution for self-service, delivery, and wet cleaning.
Drivers and Restraints
Growing Automation and IoT Capabilities to Propel the Demand for the Product
Growth in automation and IoT capabilities is anticipated to drive the Industrial Laundry Machine Market growth. Consumers require reliable, smart, and efficient laundry solutions that can solve hectic laundry operations with minimal guidance. For example, Danube International, a leading laundry solution provider in the residential and industrial segment, offers IoT feature that actively contributes to the optimization and efficiency of machines. Moreover, Business Intelligence (BI) techniques and data-driven approaches to solve laundry business solutions and monitor the key performance indicator of the machines are set to propel market growth.
However, higher investments and high costs of maintenance and shortage of resources are expected to hamper the market growth.
COVID-19 Impact:
Decline in Sales of Manufactures During Pandemic Led to Decline in the Market Progress
The outbreak of the COVID-19 pandemic affected the sales of washing machine manufacturers. Supply chain disruption and halted manufacturing activities directly impacted the sales of manufacturers, which is restraining for the growth of the market. Net sales of Girbau dropped by 38% in 2020 compared to 2019. However, the recovery of the market is attributed to the shift toward traveling & tourism to surge demand for laundry equipment.
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Report Scope and Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023-2030 |
| Forecast Period 2023-2030 CAGR | 5.3% |
| 2030 Value Projection | USD 3.86 billion |
| Base Year | 2022 |
| Market Size in 2022 | USD 2.61 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 120 |
| Segments covered | Type, Application, Region |
| Growth Drivers | Technological Advancements Across Laundry Services to Trigger Market Growth |
Segments
Industrial Washer to Lead the Segment Due to Adoption in Various Sectors
According to type, the market is divided into industrial washer, industrial dryer, industrial cleaner, industrial extractor, and others (garment finishing). Industrial washer is anticipated to dominate due to growing adoption in various sectors such as hospitality, automotive, and marine. Industrial dryer is also set to have a robust growth as it is largely used in hospitality, food & beverages, and automotive sectors. Others segment includes ironing and garment finishing and is set to have decent market growth due to higher demand for ironing clothes from healthcare, hospitality, and marine industries.
Hospitality Sector to Lead the Segment Due to Increasing Need for Such Machines
Based on application, the market is divided into hospitality, healthcare, food and beverage, automotive, and others (marine). Hospitality sector to have highest CAGR due to increasing need for industrial washers, industrial cleaners, and industrial extractors. Healthcare and automotive sectors are set to have a moderate growth due to growth in the working population in growing economic countries and rising daily wash cycles.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Regional Insights
Asia Pacific to Lead Market Share Due to Increasing Preference for Cleanliness
Asia Pacific is expected to have a high Industrial Laundry Machine Market share due to increasing consciousness regarding cleanliness. The market reached the valuation of USD 1 billion in the year 2022 due to increasing usage of such machines in commercial washing solutions. China dominates the region with highest CAGR due to rising health concerns that significantly raise the demand for commercial laundries.
North America to have an important growth due to integration of AI. In addition, consumers need more smart solutions to give live updates about the whole laundry process.
Europe is set to have a fair growth due to increasing demand for industrial dryers and energy-effective washers which helps in the minimization of costs and enhance costs savings.
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Competitive Landscape
Acquisition Strategies by Key Players to Drive Market Growth
The market has various industrial laundry players such as Kannegiesser, MAG Laundry Equipment, and others. Market players have been offering IoT solutions that allow end-users to control and manage the time of wash cycles using applications. Market players have been opting for acquisition strategies for expansion and growth in the emerging markets. In November 2022, Wolf laundry, a commercial laundry provider based in the U.K., acquired PeeGee, a Middlesbrough-based industrial laundry technology specialist for expansion and growth in emerging markets.
Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Industrial Laundry Machine Market Key Players Market Share Insights and Analysis, 2022
- Global Industrial Laundry Machine Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Type (USD)
- Industrial Washer
- Industrial Dryer
- Industrial Cleaner
- Industrial Extractor
- Others (Garment Finishing, Ironing, etc.)
- By Application (USD)
- Hospitality
- Healthcare
- Food & Beverages
- Automotive
- Others (Marine, etc.)
- By Region (USD)
- North America
- Europe
- Asia Pacific
- South America
- Middle East and Africa
- North America Industrial Laundry Machine Market Size Estimates and Forecasts, By Segments, 2019-2030
Continued
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