Global market for hand dryers was valued at USD 442.0 million in 2013 and is expected to reach USD 930.8 million by 2020, growing at a CAGR of 11.4% during the forecast period from 2014 to 2020. Hand dryer is classified as jet air hand dryers and hot air hand dryers.
Albany, NY -- (SBWIRE) -- 04/29/2016 -- Hand dryers are electrical devices that are installed in public washrooms to dry hands. The devices are gaining popularity and witnessing increased demand across different application sectors such as hotels, restaurants, office buildings, hospitals, airports, railway stations, and educational institutes. Hand dryers are expected to witness robust growth throughout the forecast period due to increasing awareness about washroom hygiene and growing demand for eco friendly appliances. Moreover, hand dryers help reduce maintenance costs and eliminate waste created by paper towels. These factors are expected to spur the market throughout the forecast period.
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There are two types of hand dryers: jet air hand dryer and hot air hand dryer. Increasing demand of eco friendly appliances and cost effective nature of the hand dryers are the major factors driving the market at present. The market is expected to see significant growth in the coming years as the demand for technologically advanced hand dryers is expected to increase during the forecast period i.e. 2014 – 2020.
Based on the type of hand dryers, the market is segmented into two types: jet air hand dryers and hot air hand dryers. Due to advancements in technology, hand dryers are not helping dry hand in less than 15 seconds but consume less power as well. Hand dryers are not only eco-friendly but also help reduce expenses, which is helping boost their demand globally. A hand dryer also does away with the mess created by paper towels and help in reducing maintenance costs. These are some of the factors spurring the demand for hand dryers.
By geography, the market has been segmented into North America, Europe, Asia Pacific, and RoW. The present market size and forecast until 2020 have been provided in the report along with the detailed analysis and opportunities in these regions.
Europe held the largest share in the global hand dryers market in 2013. Growing demand for nature friendly, cost effective and hassle free devices is the major factor spurring growth of hand dryers in the region. Europe is expected to maintain its leading position throughout the forecast period. Following Europe, North America was the second largest regional market for market share and is expected to increase its market share by 2020. Both Asia Pacific and RoW are expected to witness robust growth of hand dryers in different application sectors such hotels, food processing and food service, healthcare and office buildings among others.
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The study includes hand dryer market in terms of volume shipment (Thousand Units) and revenue (USD Million) by product type. To have a full competitive advantage, the study also provides drivers, restraints and opportunities and their impact followed by three parameters such as low, medium and high for the short, medium and long term.
The study also provides market attractiveness analysis by end users. In order to ascertain market dynamics, Porter's five force analysis framework which identifies as well as analyzes five competitive forces that shape every industry, such as bargaining power of suppliers and buyers followed by the threat of substitutes and new entrant's and degree of competition is also provided.
This report has been segmented by type, application and geography. The study also includes the drivers, restraints, and opportunities (DROs), and value chain of the hand dryer market. In addition, the forecast from 2014 to 2020 has been covered with current and future trends that are expected to impact demand.
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The report also analyzes macro economic factors influencing and inhibiting the growth of the market. Porter's five forces analysis offers insights on market competition throughout its value chain. In addition, the market attractiveness analysis provided in the report highlights key investing areas in this industry. The report will help manufacturers, suppliers, and distributors to understand the present and future trends in this market and formulate their strategies accordingly.
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