Global Commercial Laundry Market to Surpass USD 1.91 billion by 2031 Driven by Increasing Disposable Income
SkyQuest projects that the global commercial laundry market will attain a value of USD 1.91 billion by 2031, with a CAGR of 3.4% during the forecast period (2024-2031). Commercial washing machines have different features and wash cycles. This allows different fabrics to be washed because different materials have different resistances. These machines are made with high quality materials and state-of-the-art technology. The healthcare, hospitality, education and service industries are just a few of the industries that can benefit from commercial washing machine drying solutions in the global commercial laundry market.
Westford,USA, Feb. 19, 2024 (GLOBE NEWSWIRE) — Increase in disposable income and public awareness about effective hygiene and sanitation techniques are increasing among people. This incentivizes laundry shops to meet the growing demand for laundry services in the global commercial laundry market. Government regulations on energy-efficient appliances also increase competition for vendors to develop cutting-edge products. These factors contribute to the depth of the market. However, constraints including replacement cost of worn-out equipment and high raw material costs are hampering the expansion of the global commercial laundry market.
Browse in-depth TOC of “Commercial Laundry Market”
● Pages – 157
● Tables – 93
● Figures – 69
Changes in consumer lifestyles influence the use of commercial washing machines in various industries. Front-end washing machines are more efficient and use less water and electricity than overhead machines in the global commercial laundry market. This allows business owners to reduce operating costs. These advantages lead to the expansion of the commercial laundry market for industrial washing machines.
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Prominent Players of Global Commercial Laundry Market
- AB Electrolux
- Alliance Laundry System LLC
- B&C Technologies
- Dexter Laundry
- Domus
- Ecolab
- Fagor Professional
- Laundrylux Inc.
- LG Electronics
- Maytag
- TOLON
- Wascomat
- Whirlpool Corporation
- Yamamoto
Residential Segment to Dominate Market Owing to Rise in Residential and Professional Spaces
The residential application segment dominated the market by 2022 with a share of 63.6%. The expansion of the residence is expected to be driven by the worldwide rise in residential and professional spaces, as well as rising costs of clothing and furniture. The commercial services segment is expected to grow at a CAGR of 7.6% during the forecast period in the global commercial laundry market.
North America is predicted to have the largest share in the global commercial laundry market owing to the large presence of healthcare organizations in countries such as United States, Canada, creating the need for various laundry products for hospitals & clinics. According to a study by the American Hospital Association (AHA), there are 6,146 hospitals in the United States with 924,107 beds.
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Commercial Segment to Witness Significant Growth Owing to High Demand for Dry Cleaning Services
Commercial is expected to have high demand for dry cleaning and laundry services in the near future due to the rapidly expanding hospitality sector. This industry is constantly seeking professional services for cleaning beds and other items, which is likely to create a demand for commercial the segment has grown during the forecast period is opting for professional duvet cleaning services extensively, which enables them to regularly clean beds, resulting in flexibility and convenience in their busy lives. These products are expected to generate demand for dry cleaning and laundry services in the global commercial laundry market.
Asia-Pacific will expand rapidly due to the rise of hotel and restaurant chains in countries such as Japan, India and Australia, creating a huge demand for detergents in the expanding Spa & salon industry for laundry products laundry towels & linens. According to the Asia Pacific Wellness Economy Monitor, a global wellness organization, Asia has the most spas (48,679) and the largest spa market ($26.5 billion (about $82 per person in the US) (about $82 per person in the US)) currently about 26K businesses about $31.6 billion (about $97 per person in the US) (about $97 per person in the US) , making it the largest the global commercial laundry market.
A comprehensive analysis of the major players in the global commercial laundry market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
Key Developments of Global Commercial Laundry Market
- In March 2022, Rinse Inc. got its start with the acquisition of FlyCleaners in New York. FlyCleaners offers local on-demand and delivery dry cleaning and laundry through a mobile app.
- In April 2021, Alliance Laundry Systems acquired the distribution assets of Chicago-based D&M Equipment Co. D&M is one of the largest distributors of laundry equipment in the Midwest.
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Key Questions Answered in Global Commercial Laundry Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how do these differences shape the market’s future growth?
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