NEW YORK, Dec. 31, 2015 /PRNewswire/ -- Market outlook of electric hand dryers.
The demand for eco-friendly appliances and increased awareness about washroom hygiene has led to the high adoption of electric hand dryers, which resulted in a projected CAGR of over 12% for this market during the forecast period. Hand dryers are widely used in the hospitality industry, therefore their growth in the hospitality sector is expected to contribute considerably to the growth of the electric hand dryer market.
Customization of products is another fast-moving trend that is driving the growth of the electric hand dryers market. Manufacturers in the hand dryers market are offering customization to cater to the needs of the users. For instance, World Dryer introduced it's SMARTdri Plus energy efficient and high-speed hand dryer into the market. Such innovations in the market are likely to uplift the electric hand dryers market during the forecast period.
Segmentation and analysis by product of the electric hand dryer market
Hot hand dryer
Jet hand dryer
With an enormous share of more than 63%, the hot hand dryer segment dominated the electric hand dryer market and is like to maintain its number one position during the forecast period. The demand for these dryers is much higher compared to jet hand dryers because they are less expensive. Restaurants, hotels, offices, hospitals, malls, and airports in APAC and ROW use hot hand dryers.
Geographical segmentation and analysis of the electric hand dryer market
APAC
Europe
North America
ROW
Europe accounted for nearly 50% of the market share in 2015, wherein the German market contributes the largest share in this region, followed by France. Italy and the UK also among the top markets in this region. The EU has the largest number of hotels and restaurants, which is the main factor driving the growth of the electric hand dryer market in this region.
Competitive landscape and key vendors
Manufacturers in the electric hand dryers market are continuously trying to address the challenges faced and launch several innovate products to cater to the need of the users. The competition in the present market scenario is fierce, hence continuous product innovation by vendors is the key factor to withstand the competition and enhance their market share. Some vendors are focusing on producing electric hand dryers that are both user-friendly and eco-friendly.
The leading vendors in the market are -
American Dryer
Dyson
Excel Dryer
Mitsubishi Electric
World Dryer
Other prominent vendors in the market include Askon Engineers, Bio JetDrier, Hokwang Industries, Taishan Jieda Electrical Industrial, Panasonic, Palmer Fixture, and Warner Howard UK.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global electric hand dryer market?
What are the key market trends impacting the growth of the global electric hand dryer market?
What are the challenges to market growth?
Who are the key vendors in the global electric hand dryer market?
What are the market opportunities and threats faced by the vendors in the global electric hand dryer market?
Trending factors influencing the market shares of the APAC, Europe, North America and ROW.
What are the key outcomes of the five forces analysis of the electric hand dryer market?
Technavio also offers customization on reports based on specific client requirement.
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