Published on : Apr 14, 2016
The reducing water wastage and the reduced usage of oil and gasoline are amongst the prime factors fuelling the market for hand dryers. In addition, the rising count of restaurants and hotels and the increasing demand for eco-friendly solutions have also boosted the market growth.
There are a number of trends in the market which are expected to further augment the growth of the market. These have been highlighted as under:
- New Product Launches: The manufacturers operating in the market for hand dryers are constantly introducing various new products in order to address the demands of different customers, thus fuelling market growth. For instance, the introduction of Jet Towel by Mitsubishi Electric US Cooling & Heating Division (Mitsubishi Electric) in 2014 was a major hit in the market. This brand new model of hand dryer is the foremost high-speed dryer utilizing 2 jets of air for drying hands in ten seconds. Furthermore, the launch of Green Apple XLERATOReco hand dryer by Excel Dryer Inc. in 2015 was yet another hit in the market, boasting sound control and speed.
- Asia Pacific and Rest of the World Emerged as Top Markets: The demand for hand dryers has been increasing especially in regions such as that of Rest of the World and Asia Pacific owing to these regions exponential development in the hospitality industry. In addition, there has been a rise in investments as well as construction in nations such as that of China and India. In emerging economies, governments are taking initiatives for improving the nations’ infrastructure, thus resulting in the development of top-notch offices and malls. There has also been a rising demand for hand dryers in restaurants, hospitals, and schools owing to the rising health concerns and health awareness.
- Rising User Demand owing to High-Technology Mechanism of Latest Hand Dryers: The demand for dryers which dry hands in a short duration of time has been high and this is why the key manufacturers have been taking steps to enhance the working mechanisms of the upcoming hand dryers. In the past, hand dryers took atleast forty seconds to dry hands but nowadays owing to the advanced technology utilized, it just 10-11 seconds to dry hands. Thus, advancements like these increase the customers’ confidence in that particular model, in turn, raising its demand.
Hence, the above-mentioned factors will boost the growth of the market. However, the soaring cost of initial investment and the noise pollution caused by the use of hand dryers may impede their demand in the coming years.