LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global commercial dryer market provides an analysis on the most important trends expected to impact the market outlook from 2016-2020. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
Abhay Sinha, a lead analyst from Technavio says, “Recently, the number of laundromats has recorded increase due to the growing demand from dual-income households. Steady economic growth and rising disposable income are other major factors spurring the growth of the commercial laundry services.”
The demand for commercial laundry equipment is expected to arise more from developing countries. So, manufacturers are increasingly targeting countries where on-demand commercial laundry services are a growing trend. For instance, Alliance Laundry Systems, a leading global laundry equipment manufacturer, began to offer laundry services in Brazil due to significant growth opportunities.
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The top three emerging trends driving the global commercial dryer market according to Technavio research analysts are:
- Rise of online laundry services
- Increased use of wireless connecting devices and IoT
- Demand for heat pump technology
Rise of online laundry services
Many laundry service providers are introducing online services and mobile apps to attract more customers by increasing their convenience. The increasing internet penetration across the world has increased the consumer's convenience to connect with online laundry services. For instance, WASHNOW, a Qatar-based online laundry service provider, launched an Android and iOS app in 2015. The customers can select a pick-up time from the mobile app and are informed of the time their laundry will be returned. It usually takes a 48-hour turnaround service for washing, ironing, and dry cleaning in Doha, Qatar.
“JULIETTE Laundry is an on-demand mobile app that offers a premium laundry service in New York, US. The company offers overnight service, in which upon booking the service, the user can receive the laundered clothes in one night's time. The company also provides hand-launder, stain removal, and other services,” according to Abhay.
Increased use of wireless connecting devices and IoT
The use of and dependence on mobile devices that can be controlled remotely through a wireless connection is increasing globally. This factor is one of the key drivers of the market. Connectivity has become a necessity in modern day-to-day life, as it allows consumers to remotely control essential tasks. Wireless technologies facilitate interoperability between devices. Near field communication can be integrated into various commercial laundry equipment to establish a connection between the equipment and a smartphone to share data.
Beyond smartphones and tablets, wireless connectivity is now being extended to a wide range of household appliances, enabling them to collect and exchange data. The Internet of Things (IoT) helps to connect people and devices to each other via the internet. Many smart appliances have been transformed by the application of IoT, which integrates digital and wireless technology. IoT is influencing vendors associated with the field of technology.
Demand for heat pump technology
Technological innovations that reduce heat wastage and use more efficient methods of heat creation will drive the growth of the market. Heat pump technology forms a major segment of technologically advanced electric dryers. Heat pump condenser dryers address the issue of high energy consumption faced by dryer manufacturers. They also require low drying temperatures. Heat pump dryers use half the amount of electricity consumed by air condenser dryers.
While heat pump dryers have a widespread presence in the markets in Europe and Australia, it only entered the US market in 2014. The running costs of heat pump dryers are nearly 60% lower than that of conventional electric dryers. Though high initial cost and reliability issues have been restricting the adoption of electric dryers in the US market, they are anticipated to capture a small share of the market by 2020.
The key vendors are as follows:
- Alliance Laundry Systems
- Continental Girbau
- Dexter Apache Holdings
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