by Brianna Crandall — November 7, 2014—For those wondering how the electric hand dryer vs. paper towel question will play out over the next several years, a new market report published by Transparency Market Research finds the global hand dryer market is expected to reach a value of $930.8 million by 2020 at a compound annual growth rate (CAGR) of 11.4%, driven by the growing demand for eco-friendly appliances and the increase in hygiene concern. In 2013, total volume shipment of hand dryers was 2000 units, and it is expected to reach 4376.8 thousand units by 2020, growing at a CAGR of 12% from 2014 to 2020.
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According to the report, there are two types of hand dryers used in the public restrooms: jet-air hand dryers and hot-air hand dryers. In 2013, hot-air hand dryers accounted for the highest share, with a percentage share of 65.14%, which is attributed primarily to their lower cost. The jet-air hand dryer market share is expected to grow at the highest CAGR of 12.0% from 2014 to 2020, mainly due to growing advancements in hand-drying technology and the increasing demand for eco-friendly appliances.
End users
Among different end users, the food processing and food service industry was the largest in 2012, followed by hotels, and is expected to maintain its position throughout the forecast period. The demand for hand dryers in the food processing and food service industry is mainly supported by the increasing number in restaurants and fast food joints in emerging regions such as Asia Pacific and the Rest of the World. There is an increasing demand for hand dryers in office buildings, hospitals, railway stations and other public places as well.
Volume
In 2012, the highest volume of hand dryer shipments was in Asia Pacific. The demand in this region is primarily driven by its growing hospitality industry. Europe was second in terms of volume shipment, mainly due to an increase in hygiene concern among the people of Europe.
Players
There are large numbers of players present in the hand dryer market, which has resulted in a fragmented market, notes the report. Some of the key players in the market are Dyson Ltd., World Dryer Corporation, American Dryer Inc., TOTO Ltd., Jieda, Excel Dryer Inc., and Panasonic Corporation, among others.
The report segments the market by type: jet-air hand dryers and hot-air hand dryers; by end users: hotels, food processing and food service, office buildings, hospitals, and others (malls, railway stations, airports, etc.); and by geography: North America, Europe, Asia Pacific, and the Rest of the World.
Global Hand Dryer Market—Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014-2020 is available for purchase on the Transparency Market Research Web site.
See also the Excel Dryer FMLink ad.
