According to a new
market report published by Transparency Market Research “Hand
Dryers Market - Global Industry Analysis, Size, Share,
Growth, Trends and Forecast 2015 - 2023” the hand dryers market
was valued at US$497.4 mn in 2014 and is expected to reach US$1.38 bn
by 2023, at a CAGR of 12.3% during forecast period.
Hand dryers are
gaining popularity and witnessing rising demand across application
sectors including restaurants, hotels, hospitals, airports, office
buildings, railway stations, and educational institutes among others.
Global hand dryers market is expected to grow rapidly throughout the
forecast period due to rising awareness about washroom hygiene and
increasing demand for eco-friendly appliances. In addition, hand
dryers help in minimizing operation costs and reduce wastes created
by paper towels. These factors are expected to boost the market
growth throughout the forecast period. Moreover, the hospitality
industry has witnessed tremendous growth during the past few years
and has strongly influenced the hand dryers market. This trend is
expected to continue throughout the forecast period.
Based on types, the
global hand dryers market can be segmented into jet air hand dryer
and hot air hand dryer. In terms of revenue, jet air hand dryers
acquired the largest share of the market in 2014. However, hot air
hand dryers segment is witnessing volume growth due to lower price of
hot air hand dryers as compared to jet air hand dryers. Attributed to
advancements in technology, hand dryers are not only capable of
drying hand in an average time of 15 to 20 second but consume less
energy as well. Moreover, hand dryer also does away with the mess
created by paper towels and helps in reducing maintenance costs.
These factors are positively influencing the demand for hand dryers
across the globe.
By end users, the
global hand dryers market is segmented into hotels, food processing
and food service, office buildings, healthcare, and others. Others
segment includes malls, railway stations, airports etc. In 2014, food
processing and food service segment was the largest contributor to
the market in terms of revenue and is expected to maintain its
leading position throughout the forecast period. The application of
hand dryers in the food processing and food service segment is
expected to grow rapidly during the forecast period, attributed to
increasing number of restaurants and the growing awareness about
hygiene and cost effectiveness of the hand dryers. The growth of the
hand dryers market is directly proportional to the number of
restaurants that are being launched.
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Hand dryers market
has been classified geographically into North America, Europe, Asia
Pacific and Rest of the World (RoW). Europe occupied the largest
share of the market in 2014 and was followed by North America. In
2014, these two regions jointly occupied more than 70% of the global
hand dryers market. Asia Pacific region is projected to be the
fastest growing region during the forecast period. Increasing
awareness about advantages offered by hand dryers compared to paper
towels is expected to boost the market growth in the region.
Moreover, demand for hand dryers is expected to rise further with
their decrease in prices especially of those that are manufactured by
players based in China. China is home to some of the major hand dryer
manufacturers in Asia Pacific. These are Tashan Jei Da Electrical
Co., Ltd., Zhejiang Aike Electric Co. Ltd., TOTO Ltd., and Taizhou
Dihour Electrical Appliances Co. Ltd. among others.
Some of the Major
Players in the global hand dryers
market are: American Dryer, Inc. (U.S.), Bradley Corporation (U.S.),
Dyson Ltd. (U.K.), Electrostar Gmbh (Germany), Excel Dryer, Inc.
(U.S.), Mitsubishi Electric Corporation (Japan), and World Dryer
Corporation (U.S.) among others.
The report provides
an in-depth study of the hand dryers market along with offering the
market estimates, in terms of the revenue (USD million) for the
forecast period from 2015-2023. Further, the global market is
classified on the basis of types and end users. In addition, cross
sectional analysis of the global hand dryers market across four
geographical regions is included under the scope of the report.
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and analyze information.
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repository is continuously updated and revised by a team of research
experts so that it always reflects the latest trends and information.
With extensive research and analysis capabilities, Transparency
Market Research employs rigorous primary and secondary research
techniques to develop distinctive data sets and research material for
business reports.
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