by The global Commercial Laundry Equipment Market is estimated to be valued at US$ 1.40 Bn in 2023 and is expected to exhibit a CAGR of 3.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The commercial laundry equipment market comprises products such as commercial washers, commercial dryers, and commercial ironers. These products help process large volumes of laundry in commercial places such as hotels, healthcare facilities, laundromats, and others. Commercial laundry equipment saves both time and labor costs for bulk laundry needs of commercial establishments.
Market key trends:
One of the key trends in the commercial laundry equipment market is the rising adoption of software as a service. Many commercial laundry equipment manufacturers are offering software as a service along with hardware equipment. The software helps in remote monitoring of the equipment, predictive maintenance, and energy management. It provides real-time status updates to the users. The software services improve equipment efficiency, reduce downtime, and optimize laundry operations, thereby driving their adoption among commercial users.
Segment Analysis
The global commercial laundry equipment market is segmented based on type, end-use, and region. Based on type, the commercial laundry equipment market is segmented into washers, dryers, and dry cleaning equipment. The washers segment dominated the market in 2022 and is expected to continue its dominance during the forecast period. Washers are an integral part of laundry operations for commercial applications like laundromats, healthcare facilities, and hotels. Their demand is high owing to increasing need for automating washing operations in commercial sectors.
Key Takeaways
The Global Commercial Laundry Equipment Market is expected to reach US$ 1.40 Bn by 2030, exhibiting a CAGR of 3.4% over the forecast period. Rapid urbanization and growing number of commercial establishments like hotels, hospitals, and laundromats are the key factors driving the demand for commercial laundry equipment.
Regionally, North America dominated the global market in 2022 and is expected to continue its dominance owing to growing number of laundromats in countries like the US and Canada. Asia Pacific is expected to witness the fastest growth during the forecast period. Emerging economies like China and India are urbanizing rapidly thereby propelling the demand for commercial laundromats and hotels which is fueling the sales of commercial laundry equipment in the region.
Key players operating in the commercial laundry equipment market are Commercial Laundry Market report summaries detailed information by top playesr as Jon-Don LLC., LG Electronics., Appliance Laundry Systems LLC., Electrolux Group, ECOLAB, among others. Jon-Don LLC and Electrolux Group have the majority market share owing to their vast product portfolio and strong distribution network globally.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
