According to the report, global hand dryer market accounted for USD 490.3 Million in 2014 and is forecasted to surpass USD 1.2 billion by 2022, growing at a CAGR of 12% between 2017 and 2022.
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Hand dryers are an electrical device generally appears in public washrooms for the purpose of drying hands hygienically. Hand dryers either operate automatically by using sensors or manually by using a push button. Now days reducing and controlling operating costs has become an essential in this financially challenging environment. Simply replacing paper towel dispensers with hand dryers could eliminate costs up to 99%. Growing awareness about operational cost is fueling the demand for hand dryers market. Rapidly growing hospitality industry with an increase in the number of restaurants & hotels and pubs indirectly supporting the growth for hand dryers market. The growing adoption of hand dryers is expected to surge on account of the requirement to meet cleanliness standards for food service industry and hospitality industry.
Global hand dryer market is segmented into the two basic product type, hot hand dryers, and jet hand dryers segment. In terms of volume, hot hand dryers market is dominating with more than 65% market share due to its low-cost advantages and Hygienic nature. Growing number of food outlets, restaurants, and food park is fueling the demand of hand dryers in food processing industry. The food processing segment is excepted growth significantly during the forecast period. Hospitals & Clinics segment is one of the fastest growing segments, growing at 14.1% CAGR during the forecast period.
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On the basis of region, Europe was stood as largest market share and is expected to grow significantly due to prominent demand from UK, France, Germany, and Italy among others. North America is a second largest market for hand dryers in terms of volume. Asia-pacific is expected to show robust growth due to growing infrastructure development and health awareness in a country like India and China.
Some of the key players include in hand dryer market such as American Dryer, Inc., Bradley Corporation, Dyson Ltd., Electrostar Gmbh, Excel Dryer, Inc., Mitsubishi Electric Corporation and World Dryer Corporation.
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