Industrial Laundry Machine Market Size Expected to Rise USD
Pune, India, March 01, 2023 (GLOBE NEWSWIRE) —
The global Industrial Laundry Machine market size was USD 2.61 billion in 2022. The market is expected to grow from USD 2.68 billion in 2023 to USD 3.86 billion by 2030 at a CAGR of 5.3% in the 2023-2030 period. This information is provided by Fortune Business Insights, in its report titled, “Industrial Laundry Machine Market, 2023-2030.” Steady shift of consumers toward tourism activities has increased the demand for laundry services and dry cleaning. Owing to daily requirement of daily cloth cleaning and drying activities, consumers look for proper laundry machines, which is projected to aid market development.
Market Drivers & Restraints:
Technological Advancements in the Laundry Services to Propel the Demand for Product
Technological advancements in the laundry services are anticipated to drive the Industrial Laundry Machine Market growth. Post-pandemic, consumers increased the usage of chemicals, detergents, and other chemicals for washing cycles. Integration of advanced features such as AI for enhancing the capabilities in easing interaction that helps in improving customer experience. Such features help in the adoption of laundry machines and sales of such machines, which are set to expand the market growth.
However, higher investments and high costs of maintenance and shortage of resources are expected to hamper the market growth.
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Report Scope and Segmentation:
|Forecast Period 2023-2030 CAGR||5.3%|
|2030 Value Projection||USD 3.86 billion|
|Market Size in 2022||USD 2.61 billion|
|No. of Pages||120|
|Segments covered||Type, Application, Region|
|Growth Drivers||Technological Advancements Across Laundry Services to Trigger Market Growth|
Decline in Sales of Manufactures During Pandemic Led to Decline in the Market Progress
The COVID-19 pandemic affected the sales of washing machine manufacturers. Supply chain interruptions and halt in manufacturing activities directly impacted the sales of industrial laundry machines, which restrained the growth of the market. Net sales of Girbau dropped by 38% in 2020 compared to 2019. However, the recovery of the market is attributed to the shift toward traveling & tourism to hoist demand for laundry equipment.
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Segmentation of Report:
Industrial Washer to Lead the Segment Due to Adoption in Numerous Sectors
On the basis of type, the market is divided into industrial washer, industrial dryer, industrial cleaner, industrial extractor, and others (garment finishing). Industrial washer is anticipated to lead due to increasing adoption of such systems in various sectors such as hospitality, automotive, and marine. Industrial dryer is also set to have a strong growth as it is largely utilized in hospitality, food & beverages, and automotive sectors. Others segment includes ironing and garment finishing and is set to have decent market growth due to higher demand for ironing clothes from healthcare, hospitality, and marine industries.
Hospitality Sector to Lead the Segment Due to Increasing Demand for Such Machines
On the basis of application, the market is divided into hospitality, healthcare, food and beverage, automotive, and others (marine). Hospitality sector to have highest CAGR due to increasing demand for machines in hotels, restaurants, and others. Healthcare and automotive sectors are set to have moderate growth due to increasing health concerns, which increased the usage of detergents in industrial applications.
Asia Pacific to Lead Market Share Due to Rising Health Concerns
Asia Pacific is expected to have a high part in the Industrial Laundry Machine Market share due to rising health concerns. Post pandemic, consumers have been conscious about cleanliness which led to rise in the usage of commercial washing solutions. Ease in lockdown restrictions led to the shift of consumers to buy industrial washing machines. China dominates the region with highest CAGR as it has largest working population and they prefer to wash their clothes daily.
North America to have a substantial growth due to message updates and AI integration. In addition, consumers need more smart solutions to give live updates about the whole laundry process.
Integration of IoT Solutions in the Product to Propel Market Development
The market is highly fragmented with various industrial laundry players such as Kannegiesser, MAG Laundry Equipment, and others. Market players have been offering IoT solutions that allow end-users to control and manage the time of wash cycles using applications. In November 2022, Girbau, a leader in laundry solutions, presented an innovative self-service model named La Mamorta in the laundry market. The facility has cutting-edge technologies that offer a one-stop solution for self-service, delivery, and wet cleaning. Vega Systems, a leading washing solution provider, offers technological innovations such as VEGA Finishing Technology, VEGA Washing Technology, VEGA Garment Technology, and VEGA Material Handling Technology.
Key Industry Development:
October 2022- Jensen partnered with CWS Healthcare for the development of 100% automated laundry solution at the CWS premise. This new laundry facility is focused on disinfected washing process and conserving resources.
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List of Key Players Profiled in the Report
- MAG Laundry Equipment (U.K.)
- Laundrylux Inc. (U.S.)
- Herbert Kannegiesser GmbH (Germany)
- Vega Systems Group (Netherlands)
- Lavatec Laundry Technology GmbH (Germany)
- Girbau Group (Spain)
- Jensen Group (Belgium)
- Ferrotec Holding Corporation (Japan)
- Domus (Italy)
- Pellerin Milnor Corporation (U.S.)
Table Of Content:
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Industrial Laundry Machine Market Key Players Market Share Insights and Analysis, 2022
- Global Industrial Laundry Machine Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Type (USD)
- Industrial Washer
- Industrial Dryer
- Industrial Cleaner
- Industrial Extractor
- Others (Garment Finishing, Ironing, etc.)
- By Application (USD)
- Food & Beverages
- Others (Marine, etc.)
- By Region (USD)
- North America
- Asia Pacific
- South America
- Middle East and Africa
- North America Industrial Laundry Machine Market Size Estimates and Forecasts, By Segments, 2019-2030
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