Hand Dryers Market worth US$497.4 mn in 2014 and expected to touch US$1385.7 mn by the end of 2023

Global Hand Dryers Market: General Outline

The global market for hand dryers has pervaded across several sectors such as hotels, restaurants, and offices amongst others. Hand dryers are compact electric machines that operate either through buttons or through sensors. The growing concerns towards hygiene have increased the demand for these hair dryers; hand towels used in washrooms could spread germs resulting in diseases and infections. Furthermore, the environmental degradation caused while disposing these towels has also shifted the focus towards hand dryers.

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Hence, in order to avoid the hassles of keeping a regular supply of hand towels and the ills associated with their disposal, companies prefer installing hand dryers. With the advent of innovative products such as noiseless hand dryers and dryer that consume minimal electric power, the market is expected to grow substantially over the coming years. There is intense competition in the market because of which innovation and differentiation would play a key role in deciding the progress of market players.

The market is prognosticated to expand at a stellar CAGR of 12.30% over the period from 2015 to 2023. The market value was worth US$497.4 mn in 2014 and is expected to touch US$1385.7 mn by the end of 2023. The contributions from each of the segments would play a pivotal role in deciding the fate of the market.

Food Processing and Food Services Segment Accrues Highest Consumer Base

The food processing and food services segment dominated all other categories within the segment in 2014. The prominence of this segment owes to the growth of restaurants in conjugation with the concerns relating to hygiene. This segment was followed by hotels that have also adopted hand dryers to a large extent. The jet hand dryers segment outsmarted the hot air dryers segment in the same years. The former accounted for a market share of 59.4%, and this prominence is attributable to the advanced design of jet air dryers. Airports, established restaurant chains, and most hotels prefer to install jet hand dryers in their washrooms. Contemporary designs coupled with the technological advancement of jet hand dryers are expected to giving a push to this segment. On the other hand, the hot air dryers are less efficient due to longer drying times. Schools, malls, and colleges also install jet hand dryers due to their efficiency with drying.

Environmental Concerns Uptick Demand Within European Market

Europe reigned all other regional market with a market share of 37.10% in 2014. Both, public and private sector undertakings, are making concerted efforts to install eco-friendly devices as a part of their infrastructure. Hence, the demand for hand dryers is on a rise in the region. Moreover, the cost-effectiveness of hand dryers has also persuaded hotels, restaurants, and schools to install hand dryers.

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The market in North America stood second on the regional table 2014. The Asia Pacific region is expected to attract immense demand over the coming years. This owes to bettering infrastructural landscape of emerging economies such as China, India, and Brazil. The European market is expected to thrive due to the demand for these dryers across Spain, Italy, Germany, the U.K., and France.

The leading market players include Mitsubishi Electric Corporation, Dyson Ltd., Excel Dryer, Inc., TOTO Ltd., American Dryer, Inc., and World Dryer Corporation.

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