Hand Dryers Market Growth Factors and Share by Manufacturer 2021-2024
The global Hand Dryers Market size is expected to value at USD 1.59 billion by 2024. The market is subject to witness a substantial growth due to the growing adoption in various end-user industries such as hotels and restaurants, office buildings, educational institutes, shopping & commercial complex and multiplexes, railway station, and airports. In addition, environmental and economic advantages offered by hand dryers are expected to drive market demand for automated hand dryers.
Additionally, factors
responsible for robust growth in the hand dryers include growing demand for
better hygiene in both residential and commercial applications and increasing
need for cost-effective cleaning solutions. Introduction of automated and
programmed hand dryers has led to development of work-efficient solutions,
thereby propelling market growth, in the recent years. Globally, the hand
dryers industry is predicted to grow at CAGR
of 14.0% in the forecast period, providing numerous opportunities for
market players to invest for research and development in the market.
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The recent technological advancements and development of the novel products & technologies such as touch control and advanced sensor systems in order to enhance user experience is also expected to fuel revenue growth in the upcoming years. Moreover, shifting trends towards adoption of automated and intelligent hand dryers is positively impacting market growth, in the last few years. Other factors such as cost effectiveness and time saving capabilities of hand dryer market are predicted to drive the market growth of hand dryers over the forecast period.
The wall mounted hand dryers are gaining traction among various end-user segments such as airports, educational institute, hospitals, hotels and restaurants owing to the less space occupancy offered by these devices. Increasing demand for hand dryers is attributed to space occupancy concerns, majorly in compact restrooms with high traffic. The surface mounted hand dryers are adopted due to multiple advantages over wall mounted hand dryers such as easy installation and cost efficiency.
Hand
Dryers Product Outlook (Volume & Revenue, USD Million, 2008 - 2024)
•
Jet air
• Hot air
Hand
Dryers Operation Outlook (Volume & Revenue, USD Million, 2008 - 2024)
•
Manual on - automatic off
• Fully automatic
The key players in the hand dryer industry are American Dryer, Inc., Dyson Ltd., ELECTROSTAR Electronics Recovery Solutions LLC, Euronics Industries Pvt., Ltd., Excel Dryer, Inc., Jaquar & Company Pvt., Ltd., Mitsubishi Electric Co., Panasonic Co., Saniflow Hand Dryer Co., Bobrick Washroom Equipment, Inc., SPL Ltd., TaishanJieda Electrical Industrial Co., Ltd., Toto Ltd., and World Dryer Co.
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The hand dryers industry
is divided by region as North America, Europe, Asia-Pacific, Latin America and
Africa. North America has shown major growth in recent years owing to the rise
in the implementation of latest technologies in hospitality industry, increase
in the number of research & development activities in the region,
substantial increase in number of shopping &commercial complex and multiplexes,
and existence of well-established industrial infrastructure.
Asia-Pacific region is
predicted to hold major market share in the hand dryers market with massive
growth in forecast period. Countries such as India, China and Singapore are
leading the Asia-Pacific market with increasing disposable income, growing
adoption in hospitals, hotels and restaurants, improved living standards, and
significant investment by leading industry players considering potential growth
opportunities in the region.
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