Hand Dryer Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2030

The global Hand Dryer Market is expected to witness a jump in revenue from US$ 1,014.4 Mn in 2021 to US$ 2,928 Mn by 2030. The market is registering a CAGR of 12.82% during the forecast period 2022-2030. In terms of volume, the market is registering growth at a CAGR of 9.74% during the forecast period. A hand dryer is an electric device that is used to dry wet hands by blowing air. The machine is used in public toilets as a cost-effective alternative to paper towels. Hand dryers are fast, economical, and more hygienic as compared to paper towels.

The growing impetus of the global hand dryer market is attributed to factors such as growing demand for environmentally friendly devices and a rise in construction activities. Hand washing is an essential part of cleanliness and hand dryers take us one step closer to hygiene. The technology is contributing towards saving the environment with the mission to replace paper towels with hand dryers. Paper towels release 162% more carbon dioxide than hand dryers while manufacturing. In addition, paper towels are left on the floors and sink several times and consequently, it increases the speed of germ or infection spread. Furthermore, the demand for automatic hand dryers has 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 the hand dryer market. 

Key Insights of the Report: 

• The latest study published by Astute Analytica analyzes the global hand dryer market for the study period of 2017-2030; where historical years are 2017-2020, the base year is 2021, and the forecast period is 2022-2030.
• The research report offers a detailed study of market determinants including market drivers, restraints, opportunities, and trends; along with an attractive presentation in the form of impact analysis to gain a simple and easy comparison view of all market determinants.
• The research study is a compilation of 17 chapters distributed across 286 pages with 88 lists of tables and 129 lists of figures.
• The market estimates are presented in terms of value (US$ Mn) and volume (‘000 Units).
• Along with market estimations, the market study was conducted on the basis of various economic models such as PESTLE and Porter’s five force models.
• Detailed value chain analysis of the industry was conducted. It includes raw material providers, hand dryer machine manufacturers, distributors, and end-users.
• The competitive dashboard section includes analysis on the basis of Concentration Ratio (CR), based on market size and market presence of key companies.

Hands- in dryer product segment has the highest share in the Global Hand Dryer Market

In terms of product, the global hand dryer market is segmented into the hands-in dryer and hands-under dryer. The 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 the drying mechanism, the market is segmented into hot hand dryers, jet hand dryers, and hybrid. Out of these, the jet hand dryer segment has the highest share in the Global Hand Dryer Market in 2021 as jet hand dryers have 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 cost, jet hand dryers are being installed at a higher rate 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

In terms of automation, the market is segmented into automatic and manual. The 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.

The hospitality industry is the highest end-user of the Global Hand Dryer Market

Based on end-users, the global hand dryer market is segmented into healthcare, hospitality, commercial spaces, industrial, offices, airports, educational enterprises, government spaces, and others. In 2021, the hospitality industry accounted for 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.

Europe dominates the Global Hand Dryer Market in 2021

Europe has the highest share in the global hand dryer industry in 2021, owing to the growing acceptance of environmentally friendly, cost-effective, and hassle-free gadgets. However, Asia Pacific records the fastest CAGR during the forecast period 2022-2030. This is due to the increasing infrastructure in countries such as China, India, and Thailand, as well as increased awareness of the benefits of technologically advanced gadgets.

Competitive Landscape

The key players in the global hand dryer market are American Dryer, LLC, Dyson, Bradley Corporation, Jaguar Group Sdn. Bhd, Excel Dryer Inc., Mitusubishi electric, World Dryer, and Electrostar among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip on the emerging markets.

Segmentation Overview of the Global Hand Dryer Market

Following are the segments of the global hand dryer market:

By Product segment of the Global Hand Dryer Market is sub-segmented into:

• Hands-in Dryer
• Hands-under Dryers
  • Blade
  • Jet
  • High-speed

By Drying Mechanism segment of the Global Hand Dryer Market is sub-segmented into:

• Hot Hand Dryer
• Jet Hand Dryer
• Hybrid

By Automation segment of the Global Hand Dryer Market is sub-segmented into:

• Automatic
• Manual

By Mounting Technique segment of the Global Hand Dryer Market is sub-segmented into:

• Surface Mounted
• Wall Mounted

By End User segment of the Global Hand Dryer Market is sub-segmented into:

• Healthcare
• Hospitality
  • Hotels & Restaurants
  • Quick Service Restaurants (QSRs)
  • Others
• Commercial Spaces
• Industrial
• Offices
• Airports
• Educational Enterprises
• Government Spaces
• Others

By Region segment of the Global Hand Dryer Market is sub-segmented into:

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Poland
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
• South America
  • Argentina
  • Brazil
  • Rest of South America