Hand Dryer Market Is Expected to Reach USD 930.8 Million in Globally by 2020
Transparency Market Research has published a new report titled "Global Hand Dryer Market - Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" to its report store.
Albany, NY -- (SBWire) -- 02/23/2015 --The global hand dryer market is expected to reach a value of USD 930.8 million by 2020, growing at a CAGR of 11.4% from 2014 to 2020. In 2013, total volume shipment of hand dryers was 2000 units and it is expected to reach 4376.8 thousand units by 2020, growing at a CAGR of 12% from 2014 to 2020. Growing demand of eco friendly appliances and increase in hygiene concern has led to the growing demand of hand dryers. In 2013, volume shipment of hand dryers was the largest in Asia Pacific.
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There are two types of hand dryers used in the public restrooms such as jet air hand dryers and hot air hand dryers. In 2013, hot air hand dryers accounted for the highest share with a percentage share of 65.14%. The demand for the hot air hand dryers is primarily attributed to the cost which is less in comparison to the jet air hand dryers. The jet air hand dryer is expected to grow at the highest CAGR of 12.0% from 2014 to 2020. This growth is primarily attributed to the growing advancements in hand drying technology and increasing demand of eco friendly appliances.
Among different end users, food processing and food service industry is the largest followed by hotels in 2012, and is expected to maintain its position throughout the estimated period. The demand of hand dryers in food processing and food service industry is mainly supported by the increasing number of in restaurants and fast food joints in emerging regions such as Asia Pacific and RoW. There is an increasing demand of hand dryers in office buildings, hospitals, railway stations and other public places as well.
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In 2012, Volume shipment of hand dryer was the largest in Asia Pacific. The demand for hand dryers in Asia Pacific is primarily driven by the growing hospitality industry in the region. Asia Pacific is followed by Europe in terms of volume shipment. The growth in the region is attributed to the increase in hygiene level among the people of Europe.
There are large numbers of players present in the hand dryer market. As a result of which hand dryer market is fragmented in nature. Dyson Ltd., World Dryer Corporation, American Dryer Inc., TOTO Ltd., Jieda, Excel Dryer Inc. and Panasonic Corporation among others are some of the key players in the market.
The market has been segmented as follows for better understanding and to formulate winning strategies for the market players.
Jet air hand dryers
Hot air hand dryers
By end users
Food processing and food service
Others (malls, railway stations, airports etc.)
Rest of the World (RoW)
Press Release of Hand Dryer Market:
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