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| Global Commercial Laundry Equipment Market |
The Commercial Laundry Equipment Market is estimated to be valued at US$ 1.40 Bn in 2023 and is expected to
exhibit a CAGR of 3.4% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Overview:
Commercial laundry equipment includes front-loading and top-loading washers,
dryers, steam presses, and other equipment used for large-scale commercial
laundry purposes. These heavy-duty machines are suitable for handling large
volumes of laundry items from restaurants, hospitals, hotels, nursing homes,
laundromats, and other commercial establishments. Features such as different wash
cycles, large capacities, temperature controls, chemicals and detergent
dispensers make commercial laundry equipment ideal for processing bulk laundry
efficiently.
Market Dynamics:
Rapid expansion of hospitality industry is one of the key drivers of commercial
laundry equipment market growth. Rising number of hotels, restaurants, resorts
has increased the demand for commercial laundry services to handle large
volumes of linens, towels, uniforms and other fabrics on a daily basis.
Furthermore, growing awareness about hygiene and infection control in
healthcare settings is also fueling the adoption of commercial laundry
equipment in hospitals and nursing homes. Commercial dry cleaning and
laundromat businesses are also contributing to the sales of commercial washers,
dryers and other products. However, high initial investment and maintenance
costs associated with commercial laundry equipment could hinder market growth
during the forecast period.
Segment Analysis
The global Global
Commercial Laundry Equipment Market is dominated by the commercial
washer segment. This segment accounts for more than 35% of the total market
share owing to increasing demand for commercial laundry equipment from hotels,
hospitals, and laundromats. Commercial washers are ideal for large commercial
laundries that need to process a high volume of laundry with minimal human
intervention. They have large drum capacities ranging between 100-150 pounds.
PEST Analysis
Political: The market is positively impacted by supportive government policies
and regulations regarding energy conservation. Various countries have
implemented stringent norms regarding energy efficiency of laundry equipment.
Economic: Rapid industrialization and growth of the hospitality industry are
fueling the demand for commercial laundry equipment from commercial spaces like
hotels and hospitals.
Social: Changing lifestyles and increasing disposable incomes are encouraging
the adoption of commercial laundry services instead of home laundry.
Technological: Advancements in technology such as sensors, IoT connectivity,
and artificial intelligence are helping improve the efficiency, performance,
and usability of commercial laundry equipment.
Key Takeaways
The global commercial laundry equipment market is expected to witness high
growth, exhibiting CAGR of 34% over
the forecast period, due to increasing demand from the hospitality sector. The
North America region dominates the market holding over 30% share owing to the
large number of commercial laundries in countries like the US. Regional
analysis Some of the fastest growing regions in the commercial laundry
equipment market include Asia Pacific and Latin America. The Asia Pacific
region accounts for around 25% of the total market share led by countries like
China and India with rapid expansion of hotels, hospitals, and restaurants. Key
players Key players operating in the commercial laundry equipment market
include Jon-Don LLC., LG Electronics., Appliance Laundry Systems LLC.,
Electrolux Group, ECOLAB, among others. Jon-Don LLC. holds a leading position
in the market with a wide range of sorting machines and commercial washing
machines.
Read More: https://www.rapidwebwire.com/commercial-laundry-equipment-market-share/