Outlook on the Hand Dryer Global Market to 2031 - Featuring Panasonic, Excel Dryer and Hokwang Industries Among Others
DUBLIN, May 19, 2022 /PRNewswire/ -- The "Hand Dryer Market by Type, End User, and Mode of operation: Global Opportunity Analysis and Industry Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The global hand dryer market size was valued at $781.5 million in 2020, and is projected to reach $3,100.1 million by 2031, registering a CAGR of 12.9% from 2022 to 2031.
Presently, the hand dryer market faces a swift growth, owing to customizations of hand dryers offered by manufacturers in accordance with customer demand, along with time saving factor and performance efficiency. However, according to the recent studies, hand dryers are considered unhygienic, and it is believed that they spread more germs as compared to conventional technologies, thereby negatively affecting the market growth.
Dyson introduced "Dyson Air blade hand dryer," which reduces bacteria on washed hands by up to 40%. Johnson Electric designed customized hand dryer that increases airflow, which reduces the drying time to almost half. Jet hand dryers are expected to dominate the market, by value, throughout the analysis period. However, market volume of hot hand dryers is expected to dominate the hand dryer market during the forecast period.
Technological advancements to improve high noise level along with an increase in efficiency are expected to create lucrative growth opportunities. The technologically advanced products, which are being launched in this market, primarily focus on speed and hygiene, thereby enhancing market demand. The World Hand Dryer offers VERDEdri, which is the first all-in-one dryer that meets customer requirements of efficiency and consumes only 950 watts power.
By mode of operation, the market is bifurcated into push button hand dryer and automatic hand dryer. Region wise, it is analyzed across North America (the U.S., Mexico, and Canada), Europe (Germany, France, the UK, Italy, Spain, Russia/span>, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, South Africa, Saudi Arabia, and rest of LAMEA).
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SOURCE Research and Markets