According to the study conducted by Astute Analytica, in terms of volume, the Global Hand Dryer market is registering a CAGR of 9.74% during the forecast period. In terms of value, the market is expected to make a major leap forward in its revenue from US$ 1,014.4 Mn in 2021 to US$ 2,928 Mn by 2030. The global marketplace is registering a growth at a CAGR of 12.82% during the forecast period 2022-2030. A hand dryer is an electric device which is used to dry wet hands by blowing air. Hand dryers are faster, economical, and more hygienic as compared to paper towels. Hand dryers are completely hygienic because it uses hot air, and you will not have to come in contact with the machine.
The market is majorly driven by factors such as growing demand for environment-friendly devices and rise in construction activities. Hand washing is an essential part of cleanliness and hand dryers takes us one step closer to hygiene. Paper towels release 162% more carbon dioxide than hand dryers. In addition, paper towels are left on the floors and sinks several times and consequently it increases the speed of germ or infection spread. Furthermore, the demand for automatic hand dryers have been increasing in schools, colleges and workplaces owing to various benefits such as cutting down on waste disposal expenses, lower carbon emissions, energy saving and durability. However, the high installation cost of hand dryers poses a big challenge to the growth of hand dryer market.
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Hands- in dryer product segment has the highest share in the Global Hand Dryer Market
Hands-in dryer product segment has the highest share in 2021 and will continue to dominate the hand dryer market during the forecast period due to the rise in its installation at hotels, airports, restaurants, office buildings, and shopping malls. Hands in dryer efficacy comprises drying efficiency, effective bacteria eradication, and cross-contamination prevention.
Jet hand dryers dominate the Global Hand Dryer Market in terms of drying mechanism
Based on drying mechanism, the jet hand dryer segment has the highest share in the Global Hand Dryer Market in 2021 as jet hand dryers have a high efficiency and use less energy. They usually provide a more effective result in less time than hot air hand dryers. Also, due to its inexpensive prices, jet hand dryers are being installed more frequently in public restrooms, schools, shopping malls, and educational institutions. The expanding acceptance of these items is expected to be aided by rising consumer income and increased understanding of the benefits offered by these products.
Automatic hand dryers have the fastest CAGR in the Global Hand Dryer Market during the forecast period
Automation segment has the fastest CAGR in the global hand dryer market during the forecast period 2022-2030, as fully automatic devices do not require any human interaction to operate, which is the primary driver of this segment’s growth. Moreover, automatic hand dryers are more hygienic than push-button hand dryers.
Wall mounted hand dryers are dominating the hand dryer market in terms of mounting technique
By Mounting technique, wall mounted hand dryers are dominating the Global Hand Dryer Market in 2021 and growing with the maximum annual growth rate during the forecast period owing to less space occupancy offered by these devices. Commercial wall-mounted hand dryers save money and are environmentally beneficial, all while making the restroom cleaner. With the right tools, mounting the hand dryer to a concrete or brick wall is simple.
Hospitality industry is the highest end user of the Global Hand Dryer Market
In 2021, hospitality industry accounted the highest share in the Global Hand Dryer Market. This can be attributed to the hospitality industry’s rapid expansion due to an increase in the number of restaurants, bars, and hotels, as well as increased tourism activities around the world. However, hand dryer demand in commercial spaces is expected to grow at the highest CAGR over the projection period, owing to traders’ rising emphasis on lowering operational costs and the usage of environmentally friendly devices.
Europe dominates the Global Hand Dryer Market in 2021
Europe has the highest share in the Global Hand Dryer Market in 2021 owing to the growing acceptance of environment friendly, cost-effective, and hassle-free gadgets. However, Asia Pacific records the fastest CAGR during the forecast period 2022-2030. This is due to increasing infrastructure in countries such as China , India , and Thailand , as well as increased awareness of the benefits of technologically advanced gadgets.
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The COVID-19 pandemic had a positive impact on the growth of hand dryers market as several companies round the globe are adopting changes emerging due to the new normal. Furthermore, the reopening phase from COVID pandemic resulted in greater adoption of hand dryers as part of preventive measure which positively impacted the growth of hand dryer industry.
Segmentation Overview of the Global Hand Dryer Market
Following are the different segments of the Global Hand Dryer Market
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