ALBANY, New York, February 9, 2016 /PRNewswire/ --
A report published by Transparency Market Research, titled "Global Hand Dryer Market - Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020", pegs the overall value of the global hand dryers market at US$442.0 mn in 2013. By 2020, the market is anticipated to reach US$930.8 mn rising at an impressive CAGR of 11.40% between 2014 and 2020. Based on volume, the market is likely to reach 4,300 units in 2020 from 2,000 units in 2013. If the figures hold true, in terms of volume, the market will exhibit a CAGR of 12.0% during the forecast period.
Full Research Report on Global Hand Dryer Market with detailed figures and segmentation at: http://www.transparencymarketresearch.com/hand-dryer-market.html
Hygiene standards among people in general have substantially increased in recent years, coupled with the demand for eco-friendly alternatives to popular appliances. The installation of hand dryers in hotels, office buildings, restaurants, educational institutions, hospitals, clinics, and public restrooms connotes that people, irrespective of their professional background, have become more aware about maintaining health and hygiene, thus fuelling demand from the global hand dryers market.
"Innovative features and designs of hand dryers have significantly fuelled the demand for these appliances in hotels, office buildings, hospitals, and public restrooms", said a lead TMR analyst. "The power saving attribute of hand dryers makes them cheaper than using paper towels in restrooms, which is a crucial factor fuelling the demand for the appliance. Installing hand dryers in restrooms serves multiple purposes", he added, "These devices not only keep restrooms cleaner but also reduce the indiscriminate exploitation of natural resources for producing paper towels. Using hand dryers therefore proves to be more economical as they also reduce the overall maintenance cost."
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The two types of hand dryers presently available in the market are jet air hand dryers and hot air hand dryers. Of these, the hot air hand dryers segment holds the largest share in the market, because these hand dryers are available in the market at an affordable price. However, with the launch of the latest technologies and design, the segment of jet air hand dryers will soon pace up to gain a substantial share in the market.
Regionally, Asia Pacific accounted for the largest share in the global hand dryers market in terms of shipment. The rapidly developing infrastructure in the region's leading economies has supported the successful penetration of enterprises manufacturing hand dryers in the Asia Pacific market. Based on in-depth research, the TMR report anticipates the demand for hand dryers to be considerably high in India, Japan, China, Australia, and Singapore. The hand dryers market also has lucrative prospects in Europe, which is its second largest regional market, due to the high degree of hygiene consciousness among the local population. However, in terms of revenue, Europe holds the largest share in the global hand dryer market, followed by North America.
The report on the global hand dryers market by TMR analyzes every aspect that will profoundly impact the market's growth trajectory. It is compiled to help industry stakeholders understand the prevailing and prospective market dynamics. To present a comprehensive overview of the market's competitive landscape, the report also profiles some of the leading enterprises operating therein.
Browse the Press Release of this report, here: http://www.transparencymarketresearch.com/pressrelease/hand-dryer-market.htm
The global hand dryer market is segmented as below:
- Jet air hand dryers
- Hot air hand dryers
By end users
- Food processing and food service
- Office buildings
- Others (malls, railway stations, airports etc.)
- North America
- Asia Pacific
- Rest of the World (RoW)
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- Personal Protective Equipment Market: http://www.transparencymarketresearch.com/turkey-personal-protective-equipment-market.html
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR's data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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SOURCE Transparency Market Research