The exclusive COVID-19 impact analysis report by Axiom MRC provides a 360 degree analysis of micro and macro-economic factors on the global Electric Hand Dryer market. In addition, complete analysis of changes on the global Electric Hand Dryer market expenditure, and economic and international policies on the supply and demand side. The report also studies the impact of a pandemic on global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market. Moreover, the COVID-19 outbreak has put a spotlight on the significance of cleanliness. It has also resulted in much-deserved respect and recognition for the individuals who work to keep spaces like healthcare facilities hygienic and clean. For these individuals to sustain the desired level of hygiene, they need the right equipment, including devices that will keep them safe and hygienic. That’s why more institutions, from high schools to hospitals, are welcoming automatic electric hand dryers into their washrooms or bathrooms, which ultimately creates a lucrative opportunity of the market to grow in the coming years.
MARKET OVERVIEW- GLOBAL ELECTRIC HAND DRYER MARKET
MARKET DRIVERS
The global Electric Hand Dryer market is driven by the Lower cost of operation and increasing demand for hygiene. The demand for cleaner bathrooms or washroom facilities is growing all around the world. Additionally, the lower cost of operation as compared to traditional paper towels is expected to strengthen the demand for electric hand dryers globally. Jet electric hand dryers are more efficient than other types of hand dryers when it comes to rapid and safe hand drying, and their popularity is growing across the globe. In comparison to traditional paper towels or tissues, electric hand dryers are now used in far fewer toilets across the globe. The increasing popularity of environmentally friendly and cost-effective hand drying machines, such as electric hand dryers, presents a significant potential for global manufacturers. Paper towel is a well-known product used in washroom facilities across the globe as they are less expensive than other hand cleaning alternatives. Therefore, they are widely utilized and quite popular across the world. Electric hand dryers are a comparatively innovative addition to the market, but they minimize the long-term expenditure of keeping a washroom clean.
MARKET OPPORTUNITIES
The market is expected to have new opportunities with the growing hospitality industry across the world. The hospitality industry is an extensive category of fields within the service industry that includes food and drink service, lodging, theme parks, event planning, travel, and tourism. It includes tourism agencies, hotels, restaurants, and bars. Major growth factors such as the increasing population of the world, rising travel and tourism activities, growing disposable income of the people, and an increasing number of luxury restaurants and hotels are propelling the growth of the hospitality industry and thereby of the electric hand dryers market. For instance, according to IBEF, India is the most digitally advanced traveler economy in terms of digital tools being used for booking, planning, and experiencing a journey and this factor is expected to provide rising new growth opportunities for the market over the forecast period.
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MARKET RESTRAINTS
The market has major restraining factor like rumors of hand dryers spreading bacteria. Many facilities install electric hand dryers in their bathrooms instead of paper towels to minimize the waste produced by paper towels and the germs that paper towels could leave behind. Recently, however, several studies have shown electric hand dryers causing more harm than good in terms of germs and bacteria. While electric hand dryers enable individuals to dry their hands without creating waste from paper towels, the air that comes from inside the jet dryers isn’t sterile. A filter below the dryer is supposed to be cleaned weekly, but numerous spaces don’t clean it properly.
MARKET GROWTH CHALLENGES
The disadvantage of an electric hand dryer is the challenge of this market. Electric hand dryers take a lot of time to dry an individual’s hands, and if the restroom is crowded they have to wait for a long time. This is one of the disadvantages of electric hand dryers that could hamper the market growth. Moreover, the heat from the hand dryer can dry an individual’s hands too much, causing the skin to peel. Besides, the loud noise of some of the hand dryer machines can put some people off. Various people object to the loud noise that hand dryers make.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth the analysis of global Electric Hand Dryer market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With increasing demand for various Electric Hand Dryer in various applications has led the increasing demand for market and is expected to witness the growth at a CAGR at specific CAGR from 2021-2028.
ELECTRIC HAND DRYER MARKET SEGMENTAL OVERVIEW
The global Electric Hand Dryer market comprises the different market segments like product type, operation and end users and geography.
ELECTRIC HAND DRYER MARKET BY MACHINE TYPE
By product type, the Electric Hand Dryer includes key segment of
Jet hand dryers segment dominated the market in 2021 and is expected to maintain its dominance during the forecast period. Jet air dryer is different from other conventional hot air dryers because it uses a jet of unheated air and incorporates an airter. This fast hand dryer uses less than half the electricity of traditional or conventional hand dryers and costs much less. This means user will not only save money but help save the environment while using it. The jet hand dryer dries hands in under 12 to 10 seconds and saves excess water, keeping floors dry, clean, and safe. The air filter guarantees that all air that flows through the unit is safe, and user can control when the dryer can’t and can be used with a manual on/off switch. This dryer is quiet compared to hot hand dryers, affordable, and easy to use.
ELECTRIC HAND DRYER MARKET BY MODE OF OPERATION
Fully automatic segment held the largest market share of electric hand dryer market by operation. Manual hand dryer has on and off button. It is used in commercial as well as and industrial applications. However, there is a great demand for high speed, low energy, and child-friendly automatic hand dryers across the world. Furthermore, an increasing number of commercial bathrooms are creating value-grab opportunities for manufacturers in the electric hand dryer market. Manufacturers are increasing the production of machines with all-round reliability, compact design, and low noise output. During the COVID-19 period there was high demand for fully automatic hand dryer to avoid contact and spread of infection. Automatic hand dryers are touch less type of dryer which is mostly used in the healthcare settings.
ELECTRIC HAND DRYER MARKET BY DISTRIBUTION CHANNEL
Direct sales is expected to find increasing demand in the market over the forecast period. The segment is driven by factors like direct sales ideally support manufacturer to sell their products at standard price and helps to build strong foundation with the end user consumer. Besides, direct sales offers a high profit margin to manufacturer which is indeed providing a scope to the manufacturer to manufacture new products and sells the products. Hence, direct sales is likely to have growing in the market over the forecast period. Similarly, indirect sales is likely to have rising demand for market over the estimated time period.
ELECTRIC HAND DRYER MARKET BY END USERS
Hand dryers are used in restrooms and public toilets to reduce operating cost, minimize hand-drying time, and maintain hygienic environment. In addition, rising awareness among the people about product application and their benefits also created the demand for electric hand dryer in the recent years. In developed countries like the United States and Japan, the demand for automatic hand dryers has increased due to rising concerns regarding infectious diseases and rising awareness about the benefits of ecofriendly electric hand dryers. This, in turn, propelling the market growth.
ELECTRIC HAND DRYER MARKET BY GEOGRAPHY
The global Electric Hand Dryer market is studied for the following region
Asia Pacific is anticipated to witness increasing demand for Electric Hand Dryer owing to presence to well established market players. For electric hand dryer, Asia-Pacific region is considered to be the leading market, since this region is a major producer of the electric hand dryer owing to availability of raw material, favorable industrial policies, technical advancements and the availability of the labor. In this region China and Japan are known to be the major manufacturers of the electric hand dryer. Along with that, being a rapid economic developing region, the region is witnessing many of the developments, like growing globalization, commercialization, etc. which is why commercial industries in this region is increasing rapidly and the demand for electric hand dryer has been raised by the commercial buildings. In this region, India and China are the major consumers of the electric hand dryers.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of Electric Hand Dryer market is majorly focused on expanding the global growth of Electric Hand Dryer with new product innovation, business expansion, increasing presence of range of manufacturer operating in Electric Hand Dryer has led the growing demand for the market. Besides, the market offers range of products in different application to fulfill the required demand of consumer which is further contributing healthy growth in the market.
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