Published By : 21 Mar 2016 | Published By : QYRESEARCH
The global hand dryer market is poised to rise at a CAGR of 11.4% from 2014 to 2020 due to some very strong reasons. In times when the world is fighting life-threatening diseases that are highly contagious, hygiene has become of utmost important. Owing to this very reason, several countries are looking at installing hand dryers in public spaces to maintain cleanliness and hygiene standards.
Effective Designs Encourage Sale of Hand Dryers
Innovative designs and helpful features are also complementing the growth of this market in recent times. These units are readily being installed and put to use as they reduce the expenditure on tissue papers and the effort of disposing them. Therefore, the biggest advantage of reducing maintenance costs is propelling the overall hand dryer market.
The types of hand dryers in the global hand dryer market are jet air hand dryers and hot air hand dryers. The end users in this market are the food processing and food service, hotels, office buildings, hospitals, and others such as railway stations, malls, and airports. Geographically, this market is segmented into Asia Pacific, Europe, North America, and Rest of the World.
Asia Pacific to Lead Overall Hand Dryer Market
Research suggests that Asia Pacific held the largest share in the global hand dryers market and is expected to continue its dominance in the coming years as well. Furthermore, the growing infrastructural development in countries such as Japan, Australia, Singapore, India, and China is also expected to drive the demand for hand dryers in this region. Europe followed this demand closely due to increasing hygiene awareness in the region.
Hot Air Dryers to Continue its Dominance in Global Market
Out of the two types of hand dryers, the hot air hand dryers are leading the global hand dryers market as they have been in the market for a long amount. The demand for these hand dryers is also a significant one due to their reasonable pricing. However, according to analysts the ongoing technological developments made by companies such as TOTO Ltd., Dyson Ltd., Dihour, Mitsubishi Electric Corporation, American Dryer Inc., World Dryer Corporation, and AIKE are expected to boost the market for jet air hand dryers.