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Hand Dryer Market

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As per Transparency Market Research (TMR), companies in general are working to mitigate issues of high noise level in hand dryers and integrate features to prevent microbial growth in washrooms. For instance, American Dryer patented its cold pharma
Hand Dryer Market to Exhibit a Healthy Growth of US$1385.7 mn by the end of 2023
Product innovation and differentiation are looked upon by enterprises as the most popular
strategies to win competitive edge in the global hand dryers market. As per Transparency
Market Research (TMR), companies in general are working to mitigate issues of high noise
level in hand dryers and integrate features to prevent microbial growth in washrooms. For
instance, American Dryer patented its cold pharma clean technology in November 2014.
This not only helped the company achieve an edge over peers, but also sealed its innovation
against privacy.
Consumers around the world mostly prefer hand dryer that make less noise. Prominent
companies such as World Dryer Corporation and Excel Dryer, Inc. are incorporating highefficiency HEPA filters across their product lines, for providing cleaner and filtered purified
air for drying hands.
Due to the presence of many established players across the value chain, hand dryers are
often offered to buyers at competitive prices. Because the degree of competition is high in
the market, price wars are among common key players, finds TMR. “For new players to
make entry into the market, strong distribution network is a pre-requisite,” as told by a lead
analyst at TMR. “Nevertheless, the fragmented vendor landscape of the market provides
ample opportunities for the entry of new players,” he added.
Hand Dryers Sales Boosted by Rising Concerns Related to Wastage of Water
Installation of hand dryers across schools, institutions, organizations, restaurants, malls, and
corporates has notably reduced the wastage of water. Because these machines operate on
electricity, they evidently contribute in reducing the usage of oil and gasoline. The market is
also considerably gaining from the rapid expansion of the hospitality industry. Since, growth
of the hospitality industry and the corporate sector has been rapid in emerging economies
such as India, China, Brazil, and South Africa; Asia Pacific and Rest of the World will
provide attractive opportunities for the market’s growth.
High Installation Cost Creates Bottlenecks in Widespread Installation of Hand Dryers
Despite witnessing robust growth opportunities, the high installation cost of hand dryers
inhibits their installation to an extent. The noise pollution created by earlier models of hand
dryers also limits their widespread adoption. Nevertheless, the opportunities exhibited by the
emerging economies will boost sales of hand dryers in the near future. “With a majority of
market players eyeing to capitalize on the latest technological advancements, the future of
the global hand dryers market seems thriving,” revealed author of the report.
View and Download TOC of Hand Dryer Market Research Report @
https://www.transparencymarketresearch.com/report-toc/2994
Surging Demand from Europe to Boost Sales of Hand Dryers
Regionally, however, Europe holds the largest share in the global hand dryers market. As per
TMR analysis, Europe accounted for a share of 37.1% in the global market in 2014. The
rising demand for cost-effective, eco-friendly, and hassle-free devices is boosting the hand
dryers’ sales in the region. Countries such as Italy, France, Germany, Spain, and the U.K.
have emerged as the most lucrative markets for hand dryers. TMR projects this regional
market to surge at a CAGR of 11.9% between 2015 and 2023. In terms of application, the
food processing and food services segment is expected to exhibit the highest demand for
hand dryers, followed by the hotel segment.
Based on in-depth research, Transparency Market Research has pegged the overall value of
the global hand dryers market at US$497.4 mn in 2014. Surging at a healthy CAGR of
12.3% between 2015 and 2023, the market is projected to reach US$1385.7 mn by the end
of 2023. The market is projected to gain significantly from the rapid proliferation of smart
washrooms across the corporate sector and the hospitality industry.
This review is published based on information published by Transparency Market Research
in a report, titled “Hand Dryers Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2015 – 2023.”
Browse Complete Report @
https://www.transparencymarketresearch.com/hand-dryer-market.html
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ashutosh
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