The Global Commercial High-speed Hand Dyer Market to Reach Revenues of Over $1.6 Billion by 2024 - Market Research by Arizton

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Oct 23, 2019, 12:00 ET

CHICAGO, Oct. 23, 2019 /PRNewswire/ -- According to Arizton's recent research report, Commercial High-Speed Hand Dryer Market - Global Outlook and Forecast 2019–2024 is expected to grow at a CAGR of over 7% during the forecast period.

Key Highlights Offered in the Report:

The commercial high-speed hand dryer market is expected to realize an absolute growth of 84% - a leap of about $750 million revenue between 2016 and 2024.
Contributing over $300 million incremental revenue during 2018–2024, jet air dryers offer a lucrative revenue opportunity for market vendors.
Europe and APAC are likely to offer combined $380-million revenue opportunities for market vendors during the forecast period. In terms of unit shipment, both regions are projected to constitute nearly 66% combined market share in 2024.
The development of eco-friendly and green technology has emerged as one of the prime unique selling points for vendors. They have started promoting words such as "less carbon emission" or "eco-friendliness" as one of the key features in their products.
The market demand is expected to witness traction due to the introduction of innovative hand dyer models such as Dyson Airblade and the growing popularity of smart hand dryers such as World Dryer's Vmax V2 with intelligent maintenance mechanism.
In North America, over 40% share of the incremental growth in market revenue ($112 million) is expected to be contributed by the hospitality sector during 2018–2024.

Key Offerings:

Market Size & Forecast by Revenue | 2018−2024
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by product type, operation type, distribution channel, application, and geography.
Competitive Landscape – Profile of 5 key vendors and 17 other prominent vendors.

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Commercial High-speed Hand Dryer Market – Segmentation

The high-speed jet dryer market is expected to grow at the fastest CAGR during the period 2018−2024. Rapid technological innovations and changing market dynamics are the major factors driving the growth of the segment.
The increased emphasis of vendors on product designs has resulted in the development of products with high efficiency.
The high-speed hand dryer market used within the healthcare industry is expected to grow at a CAGR of over 6% during the period 2018−2024. The increased expenditure on healthcare services worldwide is a major factor for higher adoption of hand dyers globally.

Market Segmentation by Product Type

Hot Air
Jet Air

Market Segmentation by Application

Hospitality
Commercial Spaces
Healthcare
Corporate Spaces

Market Segmentation by Distribution

Retail Stores
Online Stores

Market Segmentation by Operation

Hands-in Dryer
Hands-under Dryer

Market Segmentation by Geography

North America
Europe
MEA
APAC
Latin America

Commercial High-speed Hand Dryer Market – Dynamics

The global commercial high-speed hand dryer market has witnessed the inclusion of eco-friendly products as they are one of the prime unique selling points in the recent time. Several government initiatives have led to the growth and development of eco-friendly products. These regulations have generated awareness regarding the excessive emission of carbon dioxide and energy-efficient products in the market. It has created vast impact over the end-users of commercial high-speed hand dryers such as hotels, commercial spaces including numerous others.The industry has witnessed has continuous innovations since its invention.

Key Drivers and Trends fueling Market Growth:

Enhanced Focus on Hygiene
Emphasis on Infrastructure 4.0
Increasing Adoption of Hand Dryers
Inclination toward Eco-friendly Technology

Commercial High-speed Hand Dryer Market – Geography

Europe is the largest market for commercial hand dryers in terms of revenue and unit shipments led by countries such as the UK, Germany, and France, among others. Further, the increase in infrastructure development projects within APAC countries is also leading to the high installations of hand dyers in commercial establishments. North America holds the third largest market share. The implementation and replacement drive to replace legacy products in North America is growing at the steady pace. Although the sale of emerging brands remains moderate in the region, the growing replacement demand is likely to increase market revenue in the future.

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Market Segmentation by Geography

North America

US
Canada

Europe

France
Germany
UK
Italy
Spain
Nordic

APAC

China
Japan
India
Australia
South Korea

Latin America

Brazil
Mexico
Argentina

MEA

South Africa
Saudi Arabia
UAE

Major Vendors Profiled in the Report are:

Mitsubishi Electric
World Dyer (Rexnord)
Excel Dryer
Mediclinics SA
TOTO

Other prominent vendors include – AIKE, ASI Group, Askon Hygiene Products, Bobrick, Bradley Corporation, Comac Corporation, Dihour, Dyson, Electrostar, Hokwang Industries, Jaguar Group, Jieda Electrical Appliances, JVD SAS, Metlam Australia, Palmer Fixture, SPL Limited, and Stiebel Eltron

Explore our consumer goods and retail technology profiles to know more about the industry.

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About Arizton:

Arizton – Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.

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SOURCE Arizton Advisory & Intelligence