PORTLAND, OREGON, UNITED STATES, November 30, 2020 /EINPresswire.com/ — 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 would reach $1,350 million by 2022. Asia-Pacific region is anticipated to exhibit robust growth owing to rapid infrastructure development and awareness about environmental benefits in the region. Food processing and service industry would continue to maintain its dominance throughout the forecast period due to need to reduce their operation expenditure.
Factors such as technological advancement, price, and energy efficiency of hand dryers have significantly impacted the 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 restrooms among others.
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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.
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 restrooms, educational institutes, shopping malls, and others. However, the jet hand dryer segment would continue to maintain their 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 minimization of paper towels in commercial premises would help to fuel the market growth.
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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 would be supported by their demand from Asia-Pacific and LAMEA regions. Major end users of hand dryers include food processing and service industry, hotels, hospital and clinics, commercial complexes, and office buildings. Food processing and service industry leads the market followed by hotels in terms of market value. Healthcare premises such as hospitals and clinics would 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 and Europe lead with more than 3/5th share owing to high living standards and increased health concerns. However, Asia-Pacific and LAMEA regions would exhibit the comparatively higher growth due to improvement in infrastructure development and growth in awareness. In particular, Asia-Pacific region would show promising growth owing to notable demand from the countries such as China, India, Japan, and South Korea among others.
Key Market Players Profiled In The Report:
○ Dyson Ltd
○ American Dryer
○ World Dryer
○ Mitsubishi Electric
○ Bio JetDrier
○ Hokwang Industries
○ Palmer Fixture
○ Excel Dryer Inc.
○ JVD SAS
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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.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Source: EIN Presswire