The global commercial high-speed hand dryer market is expected to grow at a CAGR of over 7% during the forecast period 2018?2024

NEW YORK, Oct. 23, 2019 /PRNewswire/ -- The global commercial high-speed hand dryer market is expected to grow at a CAGR of over 7% during the forecast period 2018?2024.

Read the full report: https://www.reportlinker.com/p05824400/?utm_source=PRN

The high inclination toward eco-friendly technology, increasing product innovations enhanced focus toward hygiene maintenance, emphasis on infrastructure 4.0 The following factors are likely to contribute to the growth of the commercial high-speed hand dryer market during the forecast period.
The growing demand of commercial high-speed hand dryers can be attributed to the increasing urbanization, the improvement in living standards, and the availability of innovative hand dryer, including sensor-based one. In terms of revenue, the market is likely to witness steady growth during the forecast period. Developed markets such as Europe and North America are witnessing high replacement demand. Hence, the increase in replacement demand provides vast opportunities for vendors.

The study considers the present scenario of the global commercial high-speed hand dryer market and its market dynamics for the period 2018?2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The market study includes insights on segmentation by product type(hot air and jet air), distribution channels (retail and online), operation type (hands-under and hands-in), application (hospitality, commercial spaces, healthcare, and corporate spaces), and geography (APAC, Europe, Latin America, MEA, and North America). The study offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent companies operating in the automotive molding market.

Commercial High-speed Hand Dryer Market: Segmentation

The high-speed jet dryer market is expected to grow at the fastest CAGR during the period 2018?2024. Rapid technological innovations and changing dynamics are the major factors driving the growth of the segment. As the market is open to innovation, jet air dryers have observed major technological advancements, which have increased their adoption in commercial applications. Jet air dryers offer increased product efficiency; hence Europe and North America are witnessing high adoption of these products. Although they are growing at an impressive rate, hot dryers are likely to maintain their dominance during the forecast period as they are the most cost-effective.

Hand dryers are mainly sold through dealer distribution channels and retail stores such as specialty stores, supermarkets, hypermarkets, mass-market players, electronic store. However, online stores are increasing gradually. The growth in online sales is set to increase by over 10% YOY during the forecast period. The primary reason for this is online stores offer more options to choose from than retail stores. Some vendors offer YouTube videos (video tutorials) and help beginners to get knowledge about the application and make them aware of these products. Besides, prices offered on the internet are lower than retail stores because of the discount offered by vendors to promote their products.

Although the hands-under dryer is the most preferred hot air product, the segment is witnessing several technological advances, and the product is increasingly getting replaced with high-speed hands-under jet dryers. Innovation holds the key to success, and thus, manufacturers have been launching new products, including automatic sensor-based ones.

The hospitality sector is one of the largest end-use application industries in the market. The rise in the hotel business and hospitality industries, and the growing trend of traveling can be attributed to the high adoption of high-speed hand dryers in the industry. The rise of commercial construction, including airport modernization, is a significant factor for market growth. However, the application is not only confined to commercial construction spaces, but the growing demand from rail transportation also continues to offer new business opportunities for vendors, especially in metropolitan cities. The demand for long-distance rail transport has already grown and is expected to grow as the high-speed rail network continues to develop worldwide, especially Asia.

Market Segmentation by Products
• Hot Air
• Jet Air
Market Segmentation by Distribution Channel
• Retail
• Online
Market Segmentation by Application
• Hospital
• Commercial Spaces
• Healthcare
• Corporate Spaces
Market Segmentation by Operation Type
• Hands-in
• Hands-under

Commercial High-speed Hand dryer Market: Geography

Europe was the largest market in 2018 and is expected to continue its dominance during the forecast period. The growing popularity and increased adoption of hand dryers in regional markets such as Germany and the UK is one of the major factors for high shares of the market. The development of advanced commercial infrastructure is driving the APAC market. However, the market is likely to grow at a steady pace during the forecast period. A major factor driving the market is the rise of the tourism industry, which is increasing the importance of hygiene among tourists.

Market Segmentation by Geography
• APAC
o China
o Japan
o India
o South Korea
o Australia
• Europe
o Germany
o UK
o France
o Italy
o Nordic
o Spain
• Latin America
o Argentina
o Brazil
o Mexico
• MEA
o Saudi Arabia
o South Africa
o UAE
• North America
o Canada
o US

Key Vendor Analysis
The global commercial high-speed hand dryer market is currently witnessing intense competition among key players. The rapidly changing market dynamics in terms of product innovation and advancement is acting as a catalyst to intensify the competition. Consumers have a higher number of choices with respect to product availability. The present scenario is driving vendors to change and redefine their unique value propositions to achieve a strong market presence. Major players largely dominate the market. However, small vendors are offering products with generic specifications at relatively lower prices. Besides, the market showcases flexible behavior in terms of adoption of innovative products. This creates a major challenge for low-scale players as they have limited resources to invest in research and development. The adoption rate of innovative commercial products has increased among end-users worldwide. It is also fueled by the growing emphasis on sustainable and smart infrastructure development such as infrastructure 4.0 along with IoT. Intensifying competition among market players has led to the introduction of innovative and advanced solutions in the market.

Key Vendors
• Excel Dryer
• Mediclinics SA
• Mitsubishi Electric
• TOTO
• World Dryer (Rexnord)

Other Vendors
• AIKE
• ASI Group
• Askon Hygiene Products
• Bobrick
• Bradley Corporation
• Comac Corporation
• Dihour
• Dyson
• Electrostar
• Hokwang Industries
• Jaguar Group
• Jieda Electrical Appliances
• JVD SAS
• Metlam Australia
• Palmer Fixture
• SPL Limited
• Stiebel Eltron

Key Market Insights
The analysis of the commercial high-speed hand dryer market provides market sizing and growth opportunities for the forecast period 2019–2024.
• Offers market sizing and growth prospects of the commercial high-speed hand dryer market for the forecast period 2019–2024.
• Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the market.
• Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of market segments and the regional outlook of the automotive molding market.
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the market.

Read the full report: https://www.reportlinker.com/p05824400/?utm_source=PRN

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