San Jose, CA -- (SBWIRE) -- 10/30/2018 -- Global Hand Dryers Market: Overview

The global market for hand dryers is witnessing a tremendous rise in its valuation, thanks to augmenting awareness among consumers about increased wastage of water across the world. The wastage of water can be noticeably reduced with the deployment of hand dryers across institutions, schools, organizations, malls, restaurants, and corporate offices, which is why, the uptake of hand dryers is increased significantly, worldwide. According to XploreMR, the opportunity in this market is likely to rise from US$0.49 bn in 2014 to US$1.38 bn by 2023 end, expanding at a CAGR of 12.30% between 2015 and 2023.

This market study is a thorough analytical research of the performance of the worldwide market for hand dryers in past and over the period from 2015 to 2023. The study emphasizes especially on the growth boosters, challenges, opportunities, obstacles, and the prominent trends in this market in an effort to determine the pace of its progress.

Global Hand Dryers Market: Key Trends and Opportunities

The increasing concerns over the need for efficient disposal of paper towel waste have compelled firms and enterprises to explore technologically superior alternatives. The increasing demand for improved hygiene in washrooms from consumers across the world is also fueling the uptake of hand dryers significantly. However, the recent economic deceleration has slowed down the sales of hand dryers, which is likely to affect the global market in the near future.

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Global Hand Dryers Market: regional Analysis

In terms of the region, the global hand dryers market was led by Europe in 2014 with a share of 37.1% in the overall market. With the rising demand for cost-efficient, eco-friendly, and hassle-free devices across various public and private institutions, the Europe market for hand dryers is expected to remain on the top over the next few years. North America, which stood second in 2014, is expected to retain its position in the near future. However, it is Asia Pacific, which is projected to emerge as the most lucrative regional market in the years to come.

Companies Mentioned in the study

At the forefront of the worldwide market for hand dryers are World Dryers Corp., Toto Ltd., Taishan Jieda Electrical Appliance Industry Co. Ltd., SPL Ltd., Mitsubishi Electric Corp., JVD SAS, Excel Dryer Inc., Electrostar GmbH, Dyson Ltd., Bradley Corp., and American Dryer Inc. Owing to the presence of so many players, the market is highly competitive and fragmented. Over the forthcoming years, these players are expected to focus aggressively on technological advancements in order to strengthen their position in the global market. They are also projected to involve in strategic partnerships with regional participants to gain traction in the years to come.

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