SAN FRANCISCO, June 28, 2016 /PRNewswire/ -- The global hand dryers market is anticipated to reach a valuation of USD 1.59 billion by 2024, according to a new study by Grand View Research, Inc. In terms of volume (shipments), the market is expected to exhibit a CAGR exceeding 14.0% during the forecast period. The increasing government initiatives to spread awareness about hygiene and cleanliness are expected to drive demand over the next eight years. The rapid growth in the hospitality sector with a surge in the number of restaurants, pubs, and hotels is anticipated to fuel demand. The growth of smart cities and infrastructure development is further expected to boost the industry growth over the forecast period.
Technological advancement, quality, price, and energy efficiency affect the buying decision of end-users. The declining cost of hand dryers, paired with an additional benefit of reducing the operational cost, is expected to propel the product demand over the forecast period; particularly in the commercial sector. The growing awareness of the use of eco-friendly appliances and energy efficient products is also anticipated to favor the industry growth over the period of 2016 to 2024.
The related noise pollution and high initial cost associated with the high-speed automatic hand dryers are expected to hinder the industry growth significantly over the coming years. The rising health concerns on account of spreading germs and bacteria with the use of hand dryers may adversely impact the hand dryers' demand.
Access full research report: http://www.grandviewresearch.com/industry-analysis/hand-dryer-market
- Product Outlook (Volume & Revenue, USD Million, 2008 - 2024)
- Jet air
- Hot air
- Operation Outlook (Volume & Revenue, USD Million, 2008 - 2024)
- Manual on - automatic off
- Fully automatic
- Mounting Technique Outlook (Volume & Revenue, USD Million, 2008 - 2024)
- Surface mounted
- Wall mounted
- End-Use Industries Outlook (Volume & Revenue, USD Million, 2008 - 2022)
- Educational institute
- Hotels and restaurants
- Office buildings
- Railway stations
- Shopping &commercial complex and multiplexes
- Others (Residence, bus stands, palace, government rest house, etc.)
- Regional Outlook (Volume &Revenue, USD Million, 2008 - 2022)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.
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SOURCE Grand View Research, Inc.