The Global Market for Commercial Laundry Machinery is Projected to Exceed US$5.2 Billion by 2024

Demand for Energy Efficient & Eco-Friendly Machines to Benefit Growth in the Global Commercial Laundry Machinery Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Commercial Laundry Machinery market. The global market for Commercial Laundry Machinery is projected to exceed US$5.2 billion by 2024, driven by the growing demand for energy efficient and eco-friendly machines.

Growing environmental awareness across the world, due to issues such as energy resource depletion and global warming, is driving the commercial laundry industry towards environment-friendly machinery. Commercial laundry machinery market is extensively embracing the green factor in the development of latest equipment. Machine and dryer models which use efficient methods for creating heat for heating water during washing and for drying are being launched into the market. Following the ban on the use of perc solvent in certain countries, dry cleaning manufacturers are looking for better alternatives to be used in the machinery.

Increasing prominence of commercial laundry services is creating a huge demand for washing machines. Over the past few years, quite a few major providers of laundry services launched online services as well as mobile apps for expanding customer base. Commercial laundries have also since the past few years been using IoT and wireless-connecting devices. Connectivity is a modern life necessity, allowing users to have a remote control on several essential tasks. Wireless technologies provide interoperability among devices. Many new commercial laundry equipment models are now integrated with NFC, which establishes connection between smartphones and the equipment, for the purpose of sharing data.  A number of other household appliances today are being integrated with wireless connectivity. IoT is helping connect devices and people through the help of internet. The IoT application has over the years, transformed many simple household appliances into smart devices and the latest to join the bandwagon are washing machines.

Commercial Laundry Machinery continues to witness a positive demand in the global market, especially across developing nations where laundry requirements are yet to match levels seen in developed markets of the US and Canada. The continuous development coupled with increasing disposable incomes in emerging economies is expected to create the need for laundry services, providing new business opportunities for North American manufacturers. The time needed for washing and drying a laundry load, commonly referred to as cycle time, significantly influences economics of commercial laundry operations. Consequently, manufacturers of commercial laundry machinery focus on offering solutions that reduce cycle times with product innovation and advanced technology. In addition to reducing labor costs, short cycle time increases total volume of the laundry load that can be efficiently processed in a specific time.

As stated by the new market research report on Commercial Laundry Machinery, Europe represents the largest market worldwide, followed by the U.S. Asia-Pacific is forecast to witness the fastest growth with a CAGR of 6.5% over the analysis period. Increasing urbanization and rise of female employment in these countries are leading to increasing adoption of laundry services. In developed markets, especially in Europe, reviving economic fortunes have resulted in laundry businesses witnessing gains leading to rise of demand for replacement machinery. In addition, government mandated replacements laced with subsidies are also expected to shore up demand in the EU. Washers dominate the global Commercial Laundry Machinery market, followed by Commercial Dryers. Dry Cleaning Equipment is forecast to witness the fastest growth among all segments, with a CAGR of 5.4% over the analysis period.

Key players in the market include Alliance Laundry Systems, LLC, American Dryer Corp., BÖWE Textile Cleaning GmbH, CMV Sharper Finish, Inc., Dexter Apache Holdings, Inc., Dexter Laundry, Inc., EDRO Corporation, Electrolux Laundry Systems, Forenta LP, Girbau S.A., GE Appliances, Hoffman/New Yorker, Inc., JLA Limited, Miele Inc., Pellerin Milnor Corporation, Qualitex Company, Shanghai Sailstar Machinery (Group) Co., Ltd., and Unipress Corporation among others.

The research report titled "Commercial Laundry Machinery: A Global Strategic Business Report" announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, innovations and launches, and strategic industry activities of major companies worldwide. The report provides market estimates and projections in US$ for Commercial Laundry Machinery by four product segment (Washers, Commercial Dryers, Presses, and Dry Cleaning Equipment) for all major geographic markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, and Rest of Asia-Pacific), Latin America, and Rest of World.

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