Valued to be $5.9 Billion by 2026, Commercial Laundry Machinery Slated for Robust Growth Worldwide

SAN FRANCISCO, Jan. 18, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Commercial Laundry Machinery - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.

Commercial Laundry Machinery

FACTS AT A GLANCE
Edition: 18; Released: January 2022
Executive Pool: 1876
Companies: 147 - Players covered include Alliance Laundry Systems, LLC; American Dryer Corp.; BO–WE Textile Cleaning GmbH; CMV Sharper Finish, Inc.; Dexter Apache Holdings, Inc.; Dexter Laundry, Inc.; EDRO Corporation; Forenta LP; GE Appliances; Girbau S.A.; Hoffman/New Yorker, Inc.; JLA Limited; Miele Inc.; Pellerin Milnor Corporation; Qualitex Company; Shanghai Sailstar Machinery Group Co., Ltd.; Unipress Corporation and Others.
Coverage: All major geographies and key segments
Segments: Product Segment (Washers, Commercial Dryers, Presses, Dry Cleaning Equipment); End-Use (Hotels, Laundry Homes, Hospitals, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe ; Asia-Pacific; Rest of World.

Complimentary Project Preview - This is an ongoing global program. Preview our research program before you make a purchase decision. We are offering a complimentary access to qualified executives driving strategy, business development, sales & marketing, and product management roles at featured companies. Previews provide deep insider access to business trends; competitive brands; domain expert profiles; and market data templates and much more. You may also build your own bespoke report using our MarketGlass™ Platform which offers thousands of data bytes without an obligation to purchase our report. Preview Registry

ABSTRACT-

Global Commercial Laundry Machinery Market to Reach US$5.9 Billion by the Year 2026
Commercial laundry machinery is used by laundromat operators, multi-housing laundries, ,coin-operated or self-service laundry units; vended laundry units for apartment buildings, dormitories, and academia; and on-premise laundries, intended for in-house laundry needs of commercial and industrial entities and hospitality sector, comprising hotels, restaurants, resorts, inns, and theme parks among others. These groups rely on different distribution channels owing to their unique requirements in terms of equipment performance, load capacity and operating features. Vended laundry machinery bought by multi-housing operators is similar to the equipment intended for retail customers. On the other hand, machinery opted by on-premise laundries and Laundromats is often bought through distributors, and is characterized by enhanced capacity, superior durability, faster drying and sophisticated cleaning. Commercial laundry machines are also used by conventional non-self-service laundry shops and providers of outsourced laundry services. These service providers maintain accounts for regular users and focus on cultivating long-term relations with users in a specific neighborhood. In addition to typical laundry services such as washing or drying, conventional non-self-service laundry shops offer other services like dry cleaning. Outsourced laundry service providers also offer large-scale services to institutions and businesses. These providers can undertake laundries involving large- and over-sized articles of apparels and textiles.

Amid the COVID-19 crisis, the global market for Commercial Laundry Machinery estimated at US$4.2 Billion in the year 2021, is projected to reach a revised size of US$5.9 Billion by 2026, growing at a CAGR of 6.6% over the analysis period. Washers, one of the segments analyzed in the report, is projected to grow at a 5.6% CAGR to reach US$2.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Commercial Dryers segment is readjusted to a revised 6.5% CAGR for the next 7-year period. This segment currently accounts for a 27.7% share of the global Commercial Laundry Machinery market.

The U.S. Market is Estimated at $1.3 Billion in 2021, While China is Forecast to Reach $638.1 Million by 2026
The Commercial Laundry Machinery market in the U.S. is estimated at US$1.3 Billion in the year 2021. The country currently accounts for a 32.09% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$638.1 Million in the year 2026 trailing a CAGR of 8.8% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.8% and 6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.8% CAGR while Rest of European market (as defined in the study) will reach US$697 Million by the close of the analysis period.

Growth in the market will be driven by technology developments and the chief among them is the rise of IoT.  Commercial washing machines are eventually going the IoT way, with the technological integration holding immense prospects for transforming these appliances and associated operations. The technology is changing the way laundries operate while dramatically reducing inefficiencies and costs. Laundry operations are time-intensive and hectic to efficiently manage. However, the space is anticipated to get a notable makeover due to increasing incorporation of the IoT technology. In the recent years, commercial washing machines have evolved significantly and boast numerous advanced functions. The IoT-connectivity is one of the key strokes that are expected to further support their evolution and improve functionality. Powered by IoT, these machines are capable of supporting real-time updates, remote monitoring, predictive maintenance and data transfer to the cloud. Seamless connectivity is paving way for operational efficiency, cost savings and customer satisfaction.

Connected washing machines provide users with the opportunities to gain relevant information regarding operations, customers and maintenance. By providing real-time data regarding operations or concerns, the technology is anticipated to play an important role in assisting engineers in improving designs by leveraging experiences from customers. Commercial washing machines with IoT connectivity present real-time usage data that can be exploited for understanding customer experiences and aiding interactions. On the other hand, the information to users provides them with the opportunity to gain insights into new updates and releases. Security updates, new features and even fixes can be downloaded into programming of the connected washing machine for extending its service life and contributing to sustainability efforts. These updates and features also hold high relevance for enhancing customer satisfaction and loyalty. Latest commercial washing machines built on the IoT technology are capable of assisting users in tracking and monitoring data for specific operations like transactions, water temperature and maintenance alerts. In addition, customers using these machines get real-time notifications about the laundry activity, like machine availability.

Presses Segment to Reach $988.7 Million by 2026
Presses are appliances designed to facilitate finishing quality to laundry. Laundry press includes a polished metal head and a fixed padded buck, which is attached firmly to a metal frame. The buck acts as the worktable and thus its shape and size vary depending upon the function it is designed for. An air-operated system is employed for lowering the hot pressing metal head of the laundry press while live steam heats the head. A table, beneath the padded buck, holds the garments for pressing. Key types of presses include Shirt Presses, Utility Presses, Mushroom Presses, Pants Legger Presses, and Linen Presses. Demand for shirt finishing solutions is growing at a noticeable rate, driven by innovation. Customers are seeking shirt finishing presses with high-volume finishing capabilities; and presses with user-friendly, simple and intuitive control features that do not require a skilled operator.

In the global Presses segment, USA, Canada, Japan, China and Europe will drive the 7.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$502.2 Million in the year 2020 will reach a projected size of US$820.7 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$128.7 Million by the year 2026. More

MarketGlass™ Platform
Our MarketGlass™ Platform is a free full-stack knowledge center that is custom configurable to today`s busy business executive`s intelligence needs! This influencer driven interactive research platform is at the core of our primary research engagements and draws from unique perspectives of participating executives worldwide. Features include - enterprise-wide peer-to-peer collaborations; research program previews relevant to your company; 3.4 million domain expert profiles; competitive company profiles; interactive research modules; bespoke report generation; monitor market trends; competitive brands; create & publish blogs & podcasts using our primary and secondary content; track domain events worldwide; and much more. Client companies will have complete insider access to the project data stacks. Currently in use by 67,000+ domain experts worldwide.

Our platform is free for qualified executives and is accessible from our website www.StrategyR.com or via our just released mobile application on iOS or Android

About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: ZA@StrategyR.com

LINKS
Join Our Expert Panel
https://www.strategyr.com/Panelist.asp

Connect With Us on LinkedIn
https://www.linkedin.com/company/global-industry-analysts-inc./

Follow Us on Twitter
https://twitter.com/marketbytes

Journalists & Media
Info411@strategyr.com

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/valued-to-be-5-9-billion-by-2026--commercial-laundry-machinery-slated-for-robust-growth-worldwide-301461867.html

SOURCE Global Industry Analysts, Inc.

Search News

Filter Results

Publication Date
Topic
Provider

News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.