The global hand dryer market size was valued at $781.5 million in 2020, and is projected to reach $3,100.1 million by 2031, registering a CAGR of 12.9% from 2022 to 2031.
Hand dryers are used in restrooms and public toilets by most of the end users to reduce operating cost, minimize hand-drying time, and maintain hygienic environment. Product launch showcasing new technology to produce goods according to customer demands is a prominent strategy adopted by the key players in the hand dryer market.
Notable impacting factors affecting the hand dryer market include eco-friendly technology, technological advancements, product customizations, one-time investment, noise level, and high initial investment. Factors such as eco-friendly technology, technological advancements, product customizations, and one-time investment have led to the widespread use of hand dryers among customers in various end user industries.
Value chain of hand dryer features various raw material supplier, manufacturers and product assemblers, sales and distribution, and end user. Each of these players share a specific value at their point of operation, which in turn contributes to the competitive value of the product. Because of high degree of competition among the key market players, companies would reduce their prices thereby enhancing their worldwide market share. The value chain of hand dryers starts from supply of materials that are used for designing the Hand dryer, such as body material, control circuitry, wires, hand dryer heater, hand proximity sensor, and indicators & switches.
By Type
Hot Hand Dryer segment would witness the fastest growth, registering a CAGR of 13.3% during the forecast period.
Companies can customize the product to reflect corporate logo or message. Digital imaging technology adopted by the manufacturers allows buyers to demand high-speed hand dryers. Companies, such as Excel Dryer, facilitate production of fully integrated design of the dryers based on the customers’ requirement. However, the intelligent and flexible control provided in SMARTdri Plus hand dryers allow the customization of sound level, air-flow, and heating options. Motor speed and air velocity can be minimized to keep sound at low level without disturbing the performance of the dryer. The impact of this factor is expected to increase in future, resulting in higher adoption of customized products.
According to the hand dryer market analysis, the market has been segmented on the basis of type, end user and, mode of operation and region. On the basis of type, the market is segmented as hot hand dryers and jet hand dryers. By end user, the market is divided as Hotel, Hospitals and Clinics, Food processing and service industry, Commercial complexes, Office buildings, and others. Based on mode of operation, the market is segmented into push button and automatic). Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By End User
Hospitals And Clinics segment would witness the fastest growth, registering a CAGR of 13.4% during the forecast period.
By type, the hand dryer market is bifurcated into hot hand dryers and jet hand dryers. Jet hand dryers accounted for maximum revenue share in 2020 and is anticipated to dominate the market throughout the forecast period, 2022-2031. Jet hand dryers are gaining attraction across the world due to reduced energy consumption and lesser drying time requirement. The players such as Panasonic Corp. and Dyson Ltd. are focused on introducing the innovative product in this category to expand the market reach.
Food processing and service industry accounted for maximum revenue in 2020, whereas Hospitals would be the fastest growing end user segment during the forecast period. Hotels now utilize hand dryers owing to the environmental concerns that arise because of paper towels. These premises use high speed hand dryers to create more sanitary environment.
By Mode Of Operation
Push Button segment would witness the fastest growth, registering a CAGR of 13.9% during the forecast period.
Automatic hand dryers emerged as the majorly adopted hand dryers during the forecast period. These hand dryers would continue to dominate the global market owing to the touchless feature and higher efficiency. Regionally, Europe has shown a prominent adoption of automatic hand dryers constituting around 33% share in 2020. UK dominates the market throughout the analysis period owing to the rise in environmental concerns and increase in health awareness among the residents.
The key leading players operating in this hand dryer market include AB Electrolux, American Dryer Inc, Dyson Ltd, Excel Dryer, Inc, Hokwang Industries Co. Ltd, HygenEco Systems, LLC (Bio JetDrier), Mitsubishi Electric Corporation, Palmer Fixture, Panasonic Corporation, and World Dryer Corporation.
By Region
Europe would witness the largest segment registering a major share of 32.3% during the forecast period.
Key Benefits For Stakeholders
- The report provides a quantitative analysis of the current hand dryer market trends, estimations, and dynamics of the market size from 2020 to 2031 to identify the prevailing opportunities.
- The Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis and the market size and segmentation assist to determine the prevailing hand dryer market opportunities.
- Drivers and restraints are analyzed depending on type in the hand dryers industry.
Hand Dryer Market Report Highlights
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Analyst Review
The world hand dryer market has promising growth in future owing to the factors such as rising health concerns among the travelers all over the world. This has facilitated the adoption of hand dryers among various end user segments including hotels and commercial complexes. Hand dryers provide touchless interaction and facilitate hand drying in a very short time, in nearly less than 15 seconds. The eco-friendly technology of hand dryers reduces deforestation and promotes environment-friendly technology. To avoid space constraints, companies are providing wall mounted, technologically advanced, and compact hand dryer solutions.
Schools and educational institutes, one of the notable end user segments, generates maximum revenue for hand dryers in countries such as Canada. Whereas, hospitals and clinics sector is one of the most attractive market for hand dryers in North America owing to the production of new technological, recycled and less noisy hand dryers. End users prioritize hand dryers to have germ free restroom environment supported by ease of handling. Companies operating in this market are strengthening their R&D to provide customized and innovative hand dryer solutions to gain maximum market share.
Hand dryers are widely used in food processing & service industry followed by hospitals and clinics sector. The increasing adoption of air blade technology and automated hand dryers is likely to boost the market in near future.
The global hand dryer market size was valued at $781.5 million in 2020, and is projected to reach $3,100.1 million by 2031, registering a CAGR of 12.9% from 2022 to 2031.
The CAGR of Hand Dryer Market is 12.9%
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The forecast period in the market report Market is from 2022-2031.
The key leading players operating in this hand dryer market include AB Electrolux, American Dryer Inc, Dyson Ltd, Excel Dryer, Inc, Hokwang Industries Co. Ltd, HygenEco Systems, LLC (Bio JetDrier), Mitsubishi Electric Corporation, Palmer Fixture, Panasonic Corporation, and World Dryer Corporation
Type, End User, and mode of operation are the segments of the Hand Dryer Market.
The India is the emerging countries in the market.
Europe region dominate the market by the end of 2031.
The slightly V-shape recovery has been seen Post-Covid-19 scenario in the Hand Dryer Market.
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