Showing posts with label Asia-Pacific Hand Dryers Market. Show all posts
Showing posts with label Asia-Pacific Hand Dryers Market. Show all posts

Thursday, December 15, 2022

Global Hand Dryers Market is expected to record a positive CAGR of 8% and reach US$ 1.5 Bn revenues by 2028: Ken Research

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hand dryer is an electrical equipment/machine for drying hands after they have been washed. Several hand dryers are typically comprised of an apparatus with a downward-facing vent into which wet hands are inserted, while others feature an opening through which hands can be inserted to dry from both sides. Furthermore, they are commonly used in public restrooms in office buildings, restaurants, schools, and medical facilities in place of paper towel dispensers. They use air streams to dry hands faster and more thoroughly than paper towels, reducing daily waste and eliminating maintenance costs.

The Global Hand Dryers Market is expected to record a positive CAGR of ~8% during the forecast period (2022-2028) and reach ~US$ 1.5 Bn revenues by 2028, due to the increasing individual awareness regarding health and hygiene, following the outbreak of the Covid-19 pandemic in 2020. In addition, the pandemic has shifted individuals’ preferences for maintaining a sanitation and hygiene lifestyle and prioritizing hand hygiene, which, taken in conjunction with rapid urbanization, has increased the market for hand dryers.

global-hand-dryers-market

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  • The increasing technological advancement and adaptation of products that are energy-intensive, environmentally sustainable, and pollutant-free is becoming a global priority, especially in the ongoing COVID-19 pandemic. This is boosting the demand for hand dryers worldwide to prevent the spread of the virus.
  • For instance, the survey of US adults assessed self-reported hand drying practices in public restrooms, conducted by the National Library of Medicine (NLM), operated by the US federal government, discovered an increased preference for using electric hand dryers and a decreased preference for using paper towels during the COVID-19 pandemic compared to before. Preference for hand drying techniques after disinfecting in a public restroom increased by 36.9% during the covid-19 pandemic, compared to 31.4% before the covid-19 pandemic.
  • Rising government initiatives and inclination toward smart infrastructure in emerging countries, including Brazil, India, China, and Mexico are likely to boost the adoption of hand dryers.
  • For instance, according to Swiss Re, a Swiss insurance company, emerging economies will invest USD 2.2 trillion in infrastructure annually over the next 20 years, amounting to 3.9% of GDP (GDP). In addition, the energy sector, particularly renewable energy, smart and resilient infrastructure, and healthcare facilities are expected to see significant investment. This will encourage the installation of smart healthcare settings in hospitals to facilitate microbial cross-contamination through air transmission to the environment or restroom visitors.
  • The higher cost associated with hand dryer installation and the increase in noise pollution during installation are the major factors restraining the hand dryer market growth.
  • The ongoing COVID-19 pandemic has adversely affected the supply side of hand dryers, owing to restrictions imposed by several governments across countries, such as limited transportation, lower workforce capacity, closure of commercial and industrial operations, and restricted trade/import & export in 2020 to prevent the spread of the virus, which had hindered the manufacturing of hand dryers, resulting in lower sales.
  • However, when the governments lifted the lockdown restrictions across countries in 2021, numerous industrial operations, such as commercial complexes, airports, hotels, and restaurants resumed their operations, resulting in a significant increase in the use of hand dryers to maintain social distance and minimize the impact of becoming contaminated by intimate surfaces.

Key Trends by Market Segment

By Product Type: The jet hand dryers segment dominated the market for hand dryers in 2021.

  • Jet hand dryers are more efficient than hot hand dryers as they consume less energy and require less drying time.
  • In addition, they are being largely installed in food-processing plants, airports, hotels, restaurants, shopping malls, hospitals, and office buildings as they are more hygienic, quick and effective, economically viable, silent, and comfortable.

global-hand-dryers-industry

 

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By Mode of Operation:  The automatic segment held the largest market share of the global hand dryers market in 2021.

  • The growth is mainly attributed to its energy efficiency, ease of maintenance, and cost-effectiveness.
  • In addition, it also cuts down the need for the human touch to dry hands, reducing the spread of germs that could be left on the dryer, which is the major factor driving the growth of this segment.
  • Furthermore, the outbreak of the COVID-19 pandemic accelerated the adoption of automatic hand dryers for contactless hand-drying experiences, which aids in the prevention of virus spread.

By End User: The hotels & restaurants segment accounted for the majority share of the global hand dryers market in 2021.

  • The continuous development and improvement of infrastructure across countries have increased the number of hotels and restaurants equipped with advanced techniques and facilities, which is fueling the demand for hand dryers.
  • For instance, according to The National, an Abu Dhabi-based private English-language daily newspaper, Saudi Arabia intends to construct 310,000 completed hotel rooms by 2030 as part of its plans to develop its hospitality market for domestic and international tourism, which, in turn, will raise the demand for smart hygiene solutions or services.
  • Furthermore, the increase in tourism activities worldwide is one of the major factors contributing to the growth of this segment.
  • For instance, according to the World Tourism Organization (UNWTO), the United Nations specialized agency responsible for the promotion of sustainable and universally accessible tourism, international tourism increased 182% year on year (Y-O-Y) in January-March 2022.

global-hand-dryers-market-share

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By Geography: Europe accounts for the largest share among all regions within the total hand dryers market in 2021.

  • The improved infrastructure and the presence of technologically advanced countries such as Germany, the United Kingdom, and France are primarily responsible for this growth.
  • Furthermore, the expansive increase in tourist visits to European countries is one of the major contributing factors to the hand dryers market.
  • For instance, according to Ashurst LLP, a UK-based law firm, Germany and the UK have the largest rate of domestic tourists as a share of total visitors in 2021, with 79.3% and 74.4%, respectively.
  • The Asia Pacific region is expected to grow at the fastest CAGR during the forecasted period (2022-2028), owing to the continuous development of infrastructure in countries, including China, India, and Thailand, as well as growing awareness regarding the benefits of technologically advanced machines. Additionally, several smart city initiatives/missions supported by governments in Asian countries may increase the region's adoption of hand dryers.

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Competitive Landscape

  • The Global Hand Dryers market is highly competitive with ~250 players which include globally diversified players, regional players as well as a large number of country-niche players each with their niche technologies, such as airblade technology, high-efficiency particulate air (HEPA) filters, and motion sensors. The hand dryer market's growth is heavily reliant on detection technologies and advancements in electric appliances.
  • Country-Niche players control about ~70% of the market, while regional players hold a share of ~20%. Some of the major players in the market include World Dryer, American Specialties Inc., Dyson, Mitsubishi Electric Corporation, Panasonic Holdings Corporation, Excel Dryer, Euronics Industries Pvt Ltd, Hokwang Industries Co., Ltd., Bobrick Washroom Equipment, Inc., Jaquar, Saniflow Hand Dryer Corporation, SPL NZ and among others.

Recent Developments Related to Major Players and Organizations

  • In August 2022, Bobrick, a U.S.-based manufacturer of restroom accessories, and toilet partitions, launched PureDri Sanitizing Hand Dryer under its Pure Hygiene Solutions collection along with the PureSphere Air Sanitizer. In addition, the company also claimed that such products can kill 99% of bacteria, viruses, mold, and fungi in over 10 minutes.
  • In July 2022, Euronics, a Netherlands-based retail company, introduced a new line of products, including hand dryers, sensor-operated bidet, sensor taps, sanitary napkin disposal, and automatic soap dispensers, with their new touchless fittings, to reduce contamination, particularly in public restrooms.
  • In May 2020, World Dryer, a US-based manufacturer of hand dryers and related products, launched the enhanced version of its existing VERDEdri model. The model is 30% quieter and has three additional acoustic modes for appropriate noise reduction.

global-hand-dryers-market-outlook

Conclusion

The global hand dryers market is forecasted to continue exponential growth after the outbreak of COVID-19 pandemic worldwide. One of the main trends driving market expansion is a shift in individual preferences toward a healthier and more hygienic lifestyle, particularly in the aftermath of the covid-19 pandemic's spread across countries. Though the market is highly competitive with around 500 participants, few country-niche players control the dominant share and regional players also hold a significant share.

Note: This is an upcoming/planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients and report delivered within maximum 2 working weeks.

Ken Research has recently published report titled Global Hand Dryers Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 that is segmented by Product Types, Mode of Operations, and End-User. In addition, the report also covers the market size for each of the four region hand dryers market. The revenue used to size and forecast the market for each segment is USD Million.

Market Taxonomy

By Product Type

Hot Hand Dryers

Jet Hand Dryers

By Mode of Operation

Push-Button

Automatic

By End User

Hotels & Restaurants

Airports

Shopping Malls

Hospitals

Office Buildings

Others

By Geography

North America (U.S., Canada, Mexico)

Europe (Germany, UK, France, Italy, Spain, Rest of Europe)

Asia Pacific (China, Japan, India, Australia, South Korea, Rest of Asia Pacific)

LAMEA (Latin America, Middle East, and Africa)