Hand Dryers Market:
Executive Summary
The global hand dryers market is expected decline from $0.88 billion in 2019 to $ 0.79 billion in 2020 at a compound annual growth rate (CAGR) of -9.76%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $1.15 billion in 2023 at CAGR of 13.49%.
The hand dryers market consists of sales of hand dryers and related services. Hand dryers are cost-effective, energy-efficient and eco-friendly devices that are extensively adopted in restaurants, hotels, offices, and malls as a replacement to towel. Hand dryers are electronic machines used for drying hands in public bathrooms that works either by pressing a button or automatically using a sensor. These are highly responsive and are equipped with fast reacting sensors with maximum energy efficiency for instant reaction.
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Europe was the largest region in the hand dryers market and is expected to be the largest market in forecast period.
Companies are launching new products in order to increase their revenue and also for gaining a competitive edge over their competitors. For instance, in November 2019, Dyson Ltd, a UK-based company specialized in manufacturing hand dryers, launched their new product Dyson Airblade 9kJ hand dryer in India. This product needs no touch to start its operation and comes with an added feature of HEPA filters that can purify 99.95% of particles from bathroom air. The product costs $1,349 (INR 97,000) in the US and $1248 (INR 95000) in India.
The hand dryers market covered in this report is segmented by product into jet air; hot air. It is also segmented by operation into manual on-automatic off; fully automatic and by end-user into airports; hotel & restaurants; hospitals; offices; shopping malls; others.
The increased noise levels in hand dryers are expected to limit the growth of the hand dryers market. Hand dryers are dangerous and operates at high noise levels that can be hazardous to children’s hearing. For instance, in 2019, in Canada, according to a new study published in ‘Paediatrics & Child Health’, a journal of the Canadian Paediatric Society, ears of children were hurting due to high noise levels of hand dryers. The noise levels with 110 decibels causes hearing loss in children within two minutes and noise levels with 120 decibels causes ear pain and injury. The driers were louder than the manufacturers claimed, with a potential to damage the users’ ears. Increased noise levels in hand dryers, therefore, has a negative impact on the hand dryers market.
Strong growth in hospitality industry drove the market for hand dryers in the historic period. The rapidly growing hospitality industry, such as the rise in hotels and restaurants, boosted the growth of the hand dryers market, driven by the need to meet cleanliness requirements in the food services and hospitality sector. For instance, according to the Office for National Statistics, in 2019, the hospitality industry is one among the foremost important parts of UK’s economy, with total turnover reaching £98 billion ($130.8 billion) in 2017 up from £92 billion ($122.8 billion) in 2016 and £86 billion ($114.8 billion) in 2015. Moreover, according to National Restaurant Association in 2019, the restaurant industry is expected to double its sales by 2030. Strong economic growth in hospitality industry boosted the demand for hand dryers which drove the market during the historic period.
Major players in the hand dryers market are American Dryer, LLC., Dyson Ltd., Electrostar, Excel Dryer Inc., Panasonic Corporation, Mitsubishi Electric Corporation, SPL Ltd., Bobrick Washroom Equipment, Inc., Saniflow Corporation, and Taishan Jieda Electrical Co. Ltd.
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NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.
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