Market Research Report
Commercial Laundry Machinery
|Commercial Laundry Machinery|
Published: May 1, 2021
Global Industry Analysts, Inc.
Content info: 478 Pages
Delivery time: 1-2 business days
Global Commercial Laundry Machinery Market to Reach $5.9 Billion by 2026
Equipment intended for commercial laundry applications is built for heavy-duty usage and high volume washing at institutions and businesses. Manufacturers of commercial laundry systems pay more attention to construction rather than aesthetics to enhance durability and reliable operations during frequent usage. The equipment is generally arranged in long rows for user convenience while keeping adequate space at the back of the equipment for maintenance and repair work. Though commercial laundry systems have limited features in comparison to domestic laundry equipment, they sometimes include features not available in their counterpart consumer laundry systems.
Amid the COVID-19 crisis, the global market for Commercial Laundry Machinery estimated at US$4.2 Billion in the year 2020, is projected to reach a revised size of US$5.9 Billion by 2026, growing at a CAGR of 3.9% over the analysis period.Washers, one of the segments analyzed in the report, is projected to grow at a 3.3% CAGR to reach US$2.7 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 3.9% CAGR for the next 7-year period. This segment currently accounts for a 21.9% 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 $954.6 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 29.42% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$954.6 Million in the year 2026 trailing a CAGR of 3.7% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 3.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR while Rest of European market (as defined in the study) will reach US$986.7 Million by the end of the analysis period.
Widespread deployment of commercial laundry machinery in laundromat facilities, the coin-operated or self-service laundry units; multi-housing laundries, the vended laundry units for apartment buildings, dormitories, and academia; and on-premise laundries, intended for in-house laundry needs of commercial and industrial entities, has accelerated overall momentum in these regional markets. Manufacturers` efforts aimed at offering advanced systems at affordable pricing schemes is also positively influencing market prospects. Especially, technology advancements in terms of performance and design have given massive impetus to market growth in recent years.
Presses Segment to Reach $955.8 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. In the global Presses segment, USA, Canada, Japan, China and Europe will drive the 4.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$523 Million in the year 2020 will reach a projected size of US$719.3 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$204.6 Million by the year 2026.
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