Mar 28, 2022 SOURCE: BusinessWire

The Worldwide Hand Dryer Industry is Expected to Reach $2.9 Billion by 2030 - ResearchAndMarkets.com

The "Global Hand Dryer Market, By Product, By Drying Mechanism, By Automation, By Mounting Technique, By End User, Estimation & Forecast, 2017 - 2030" report has been added to ResearchAndMarkets.com's offering.

The global hand dryer market held a market value of $1,014.4 million in 2021 and is estimated to reach $2,928 million by the year 2030.

The hand dryer market is rising at a substantial rate owing to increasing product adoptions, requirement for low operational spending, rise in demand for clean energy technology, and continuously increasing acceptance of innovative hand dryers in the emerging countries. Many end user industries, such as healthcare, offices, among others, prefer fully automatic hand dryers, with less noise emission.

On the other hand, the high initial installation cost of the devices depletes the preference rate of hand dryers by the customers, thus, hampering the growth rate of the market to a certain extent.

Growth Influencers:

Growing demand for environmental-friendly devices

The governments in many emerging countries, as well as private agencies and stakeholders in the energy industry are raising awareness regarding the use of clean energy, sustainable products, and devices that cause less damage to the environment. Thus, such moves are favouring power-saving devices, as well as paper saving initiatives, thus contributing to the growth of the hand dryers market.

Increasing number of construction activities

The growing infrastructural opportunities and developments all around the globe is contributing directly to the high demand of hair dryers. The inclination of customers towards smart infrastructure is aiding in the growth rate. Moreover, the rising number of restaurants, food chains, resorts, and hotels pave the way for innovative hand drying devices.

The global hand dryer market report answers questions such as:

What is the market size and forecast of the global hand dryer market?
What are the inhibiting factors and impact of COVID-19 on the global hand dryer market during the assessment period?
Which are the products/segments/applications/areas to invest in over the assessment period in the global hand dryer market?
What is the competitive strategic window for opportunities in the global hand dryer market?
What are the technology trends and regulatory frameworks in the global hand dryer market?
What is the market share of the leading players in the global hand dryer market?
What modes and strategic moves are considered favorable for entering the global hand dryer market?

Segments Overview:

The global hand dryer market is segmented into product, drying mechanism, automation, mounting technique, and end user.

By Product

Hands-in Dryer
Hands-under Dryers
Blade
Jet
High-speed

The hands-in dryer held the largest market share of around 58% owing to the increased use of this type of product by the target audience. On the basis of hands-under dryers, the jet subsegment volume is projected to hit 837 thousand units by 2030.

By Drying Mechanism

Hot Hand Dryer
Jet Hand Dryer
Hybrid

The hot hand dryer segment value is anticipated to be nearly 72% of jet hand dryer market size in 2021 and is projected to be approximately 69% by 2030. The hybrid segment is expected to be the fastest growing with a CAGR of nearly 13.9%.

By Automation

Automatic
Manual

The automation segment is anticipated to be fastest growing owing to increasing demand for selective end user industries, such as hospitals, which require noise cancelation.

By Mounting Technique

Surface Mounted
Wall Mounted

The wall mounted technique held the largest share and is anticipated to be the fastest growing due to the high availability of this type of hand dryers.

By End User

Healthcare
Hospitality
Hotels & Restaurants
Quick Service Restaurants (QSRs)
Others
Commercial Spaces
Industrial
Offices
Airports
Educational Enterprises
Government Spaces
Others

The hospitality segment held the largest segment of nearly 57% owing to the increased policies and requirements to maintain hygienic conditions and to lower any infection spread. The government spaces segment market value is projected to hit 58.9 USD million by 2030.

Regional Overview

By region, the global hand dryer market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

The North American hand dryer market is expected to hold the largest market share owing to the increasing adoption of technologically advanced hand dryers in the countries, such as US and Canada. Furthermore, Asia Pacific market for hand dryers is supposed to grow the fastest with a CAGR of more than 14% due to the continuous product innovations and presence of prominent players in the region.

The European market for hand dryers is anticipated to grow at a steady rate owing to the rising awareness and continuous usage. Furthermore, the Middle East & African market volume for hand dryers is anticipated to cross 233 thousand units by 2030.

Companies Mentioned