Transparency Market Research delivers key insights on the global electric hand dryer market. In terms of revenue, the global electric hand dryer market is projected to expand at a CAGR of 8% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global electric hand dryer market.
Electric hand dryer companies are expanding their product lines to meet the increasing demand for electric hand dryer products. Moreover, strong product innovation among electric hand dryer companies with newer features in electric hand dryers is expected to boost the market during the forecast period. In addition, companies are adopting latest technologies to provide extra benefits and more comfort to clients, and also to enhance their own efficiencies. All these factors are anticipated to have a positive impact on the global electric hand dryer market during the forecast period.
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Electric Hand Dryer Market: Key Segments
In terms of type, jet air is expected to dominate the electric hand dryer market during the forecast period. Based on growth rate, the WAD segment is projected to expand at a faster rate during the forecast period. The rising demand for user-friendly technological devices, which facilitate power saving, is further forecast to offer growth opportunities during the forecast period. The increasing demand for useful energy technology, along with the need to reduce operational spending, particularly in office buildings as well as shopping malls, is anticipated to offer new growth opportunities to the market over the next few years.
Based on operation, the fully automatic segment is anticipated to hold major share of the market. Technological developments in electric hand dryers are included in the product portfolio of existing players to remain competitive in the market. Companies try to lessen the noise level in their products and reduce the bacterial spread in washrooms. Moreover, quieter and highly efficient hand dryers, which are faster, are preferred more by customers globally.
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In terms of end-user segment, airports contributed major revenue share to the global electric hand dryer market.
Electric Hand Dryer Market: Prominent Regions
The global electric hand dryer market has been categorized into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific accounted for a dominant share of the global electric hand dryer market in 2020, and the region is expected to remain dominant during the forecast period. Electric hand dryers are considered to be environment-friendly as their adoption has not resulted in deforestation. This factor is expected to have a positive impact on the global electric hand dryer market during the forecast period.
The electric hand dryer market in North America is likely to expand at the highest CAGR in the near future. Key players operating in the electric hand dryer market in the region are adopting new technologies to provide quality products to their customers. Increasing promotional activities are also expected to have a positive impact on the market in the region.
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Electric Hand Dryer Market: Key Players
Key players operating in the global electric hand dryer market are Excel Dryer, Panasonic Corporation, Dyson, World Dryer, Mitsubishi Electric Corporation, Bradley Corporation, Electrostar GmbH, SPL Ltd., Tashan Jie Da Electrical Co., Ltd., and Palmer Fixture, among others.
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