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Hand dryer market to reach $1,350 million by 2022, finds globally-allied market research

A new report published by Allied Market Research, titled, 'Hand Dryer Market by Product Type, Mode of Operation and End User-Global Opportunity Analysis and Industry Forecast, 2014-2022', projects that the global hand dryer market will reach $1,350 million by 2022.

Factors such as technological advancement, price, and energy efficiency of hand dryers have significantly impacted market growth. Automatic hand dryers have reduced the human interaction notably with improvement in consumer experience. Moreover, the reducing product prices facilitates their adoption across new areas such as educational institutes, office buildings, retail outlets, and public washrooms among others.

However, rise in health concerns due to microbial cross-contamination and associated noise pollution issues are expected to hinder the market growth during the forecast period in some extent.

Nevertheless, ongoing research and development to improve quality, energy efficiency, and reduction in noise is anticipated to increase the demand for hand dryers.

The Asia-Pacific region is anticipated to exhibit robust growth owing to rapid infrastructure development and awareness about environmental benefits in the region. The food processing and service industry will continue to maintain its dominance throughout the forecast period due to need to reduce their operational expenditure.

"Rapidly growing hospitality industry with increase in the number of restaurants, hotels, and pubs posing lucrative environment for hand dryers market," notes Deepankar Bose, manager, Consumer Goods Research at AMR. "The adoption of hand dryers is expected to surge on account of requirement to meet cleanliness standards for the food service industry. The automatic hand dryers are expected to witness increased demand across the world due to convenience offered while operation."

The global hand dryer market is segmented based on type, mode of operation, end user and geography. The market is segmented into two basic types - hot hand dryer and jet hand dryer. Hot hand dryers dominate in terms of volume owing to their low cost advantages. These are being increasingly installed at public washrooms, educational institutes, shopping malls and others. However, the jet hand dryer segment will continue to maintain its leading position in terms of revenue generation with an increase in installation at commercial complexes, airports, hotels, and restaurants. Increased focus to avoid environmental loss with minimisation of paper towels in commercial premises will help to fuel market growth.

Depending on operation mode, the hand dryers are classified into push button and automatic. Fully automatic segment constitutes the highest market share owing to better convenience and consumer satisfaction. The growth of push button hand dryers will be supported by demand from Asia-Pacific and LAMEA (Latin America, Middle East and Africa) regions.

Major end users of hand dryers include food processing and service industry, hotels, hospital and clinics, commercial complexes, and office buildings. The food processing and service industry leads the market followed by hotels in terms of market value.

Healthcare premises such as hospitals and clinics will grow at the fastest CAGR of 15.1% during the forecast period owing to increased regulations pertaining to hygiene and cleanliness.

Geographically the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa. North America and Europe lead with more than 3/5th share owing to high living standards and increased health concerns. However, Asia-Pacific and LAMEA regions will exhibit the comparatively higher growth due to improvement in infrastructure development and growth in awareness. In particular, the Asia-Pacific region will show promising growth owing to notable demand from the countries such as China, India, Japan, and South Korea among others.

Key findings of the study:

* Hand dryer market witness significant growth across the globe with growth in awareness about hygiene and cleanliness among the populace.
* In 2014, hot hand dryers shared nearly 70% market volume due to their cost-effectiveness as compared to jet hand dryers.
* Food processing and service industry shares nearly 1/3rd market due to their increased installation at food parks, food outlets, and restaurants.
* European region constitutes the highest market share with prominent demand from UK, France, Germany, and Italy among others.
* Market players focus on product launch equipped with advanced features to meet the customer demands.

Key players profiled in the report include:

World Dryer Corporation, American Dryer, Dyson, Palmer Fixture, Bio Jetdrier, Mitsubishi Electric Corporation, Panasonic Corporation, Hokwang Industries, Excel Dryer, and JVD SAS. The report notes that these players focus on product launch to improvise their market share and take a leading edge on the competition. For instance, recently in April 2016, World Dryer Corporation, a leading global high-speed hand dryer manufacturer, has launched VERDEdri as per GRA's environmental product endorsement standards. This energy-efficient hand dryer utilises 950 watts with dry time of nearly 12 seconds.

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6th October 2016