LONDON--(BUSINESS WIRE)--According to the latest study released by Technavio, the global electric hand dryers market is expected to grow at a CAGR of more than 13% during the forecast period.
This research report titled ‘Global Electric Hand Dryers Market 2017-2021’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. This market research report also includes an up to date analysis and forecasts for various market segments and all geographical regions.
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The research analysis categorizes the global electric hand dryers market into three major end-user segments. They are:
- Hotels and restaurants
- Shopping malls
- Others
Global electric hand dryers market in hotels and restaurants
In the commercial sector, the hotels and restaurants segment had the largest share of the overall market in 2016, at 38%. This can be attributed to the rapidly growing hospitality industry across the world with an increasing number of restaurants and hotels. Hand dryers are much more cost-effective in comparison to paper towels and several hotels have been replacing paper towels with hand dryers, not only to reduce their operational costs but also to add sophistication. For instance, Ibis Singapore on Bencoolen replaced its paper towels with Dyson Airblade hand dryers, Dyson Airblade dB, and Dyson Airblade Tap hand dryers. This shift not only reduced the hotel's operational costs (the hotel has been able to save 32 rolls of paper towels per month from guest washrooms and 12 rolls from staff washrooms), but it also proved to be successful in enhancing its guests' experience.
“To increase the adoption of hand dryers in hotels and restaurants, manufacturers are focusing on acquiring certifications from the Green Restaurant Association and Green Hotels Associations,” says Poonam Saini, a lead analyst at Technavio for home, kitchen and large appliances research.
Global electric hand dryers market in shopping malls
The global electric hand dryers market in shopping malls and complex is expected to grow at a CAGR of more than 14% during the forecast period. In 2016, with a share of 23%, the shopping malls and complex segment accounted for the second-largest portion of the overall market.
An increased emphasis on lowering operational costs, along with rising focus on using eco-friendly products, will propel the market's growth during the forecast period. In addition, the growing focus on ways to reduce the generation of paper waste and increasing government initiatives to maintain public toilets will help in the growth of this market.
Global electric hand dryers market in other segments
The others segment includes hospitals, airports, educational institutions, office buildings, railways stations, other retail formats, and residential buildings. This segment is expected to grow at a CAGR of over 14%, during the forecast period.
“The demand for hand dryers from the hospitals segment is growing with the increasing awareness of the benefits of maintaining hygiene and the cost-effectiveness of these products,” says Poonam.
Technological advances such as the cold plasma technology used in eXtremeAir CPC hand dryers, which help kill germs such as E. coli, MRSA, C. difficile, Staphylococcus, and Salmonella, are further helping in the growth of the market.
In addition to hospitals, hand dryers, especially the ones that generate low noise, are being installed in several institutions. Some examples of educational institutions where eXtremeAir hand dryers are used are the Central Michigan University, the University of Massachusetts, and the University of Michigan.
The top vendors highlighted by Technavio’s market research analysts in this report are:
- American Dryer
- Dyson
- Excel Dryer
- Mitsubishi Electric
- World Dryer
Browse Related Reports:
- Global Electric Dryers Market 2016-2020
- Global Industrial Dryers Market 2016-2020
- Global Gas Dryer Market 2016-2020
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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