Researchers: Hand Dryer Market Expected To Grow
The global hand dryer market is anticipated to have a compound annual growth rate of 11.9% per year from now until 2026, according to new research published by Polaris Market Research.
In 2017, the jet air hand dryer segment dominated the global market, in terms of revenue. Europe was the leading contributor to the global market revenue in 2017.
Growing concerns regarding environment, increasing need to reduce energy consumption, and growing need for energy efficient equipment support the growth of hand dryer market during the forecast period. There has been an increasing demand of hand dryers from hotels and restaurants, airports, shopping malls, railway stations, and commercial buildings. Additionally, energy efficient buildings and the need to reduce operation costs would boost growth during the forecast period. Other factors supporting market growth include growing need to reduce wastage of water and paper, increasing awareness, and technological advancements. Furthermore, increasing investments by vendors in technological advancements coupled with research and development further boost the hand dryer market growth.
The demand for advanced and energy efficient hand dryers has increased over the years due to increasing energy concerns, and environment consciousness across the globe. The increasing awareness among consumers regarding use of energy efficient and smart technology further boosts the adoption of hand dryers. The rising awareness regarding use of eco-friendly solutions, development of smart infrastructure, and increasing adoption of energy efficient buildings are factors expected to promote the hand dryer market growth during the forecast period.
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