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

Market Scenario 

Global hand dryer market is expected to witness a jump in revenue from US$ 1,115.5 Mn in 2022 to US$ 2,928.0 Mn by 2030. The market is registering a CAGR of 12.90% during the forecast period 2023-2030. In terms of volume, the market is registering a growth at a CAGR of 9.81% during the forecast period. 

After conducting extensive research, Astute Analytica has identified several key findings regarding the global hand dryer industry. One significant finding is the growing demand for hand dryers as businesses and public places seek sustainable and cost-effective hand drying solutions. The need for improved hygiene and reduced waste has led to increased adoption of hand dryers in place of traditional paper towels, with a projected compound annual growth rate of 9.74% between 2023 and 2030. Additionally, the increased supply of hand dryers as more companies enters the hand dryer market has led to heightened competition, driving the development of new technologies and production methods to improve efficiency and reduce costs.

Furthermore, the trend towards touchless and hygienic hand dryers is expected to drive further growth in the industry as consumers and businesses place an increased emphasis on hygiene and cleanliness. This has resulted in the emergence of new technologies such as infrared sensors, air flow turbine systems, and ultra-fast drying technology, all of which are aimed at providing a more efficient and hygienic hand drying experience.

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Market Dynamics 

Drivers

Advancement of Technology 

One of the most important drivers of the hand dryer market is the advancement of technology. Hand dryers have been around for quite some time but recent advancements in technology have made them much more efficient and powerful. This has resulted in a decrease in the cost of production as well as an increase in performance. Moreover, manufacturers are now using more efficient motor designs, brushless motors, and high-efficiency fans to make the hand dryers more energy-efficient and reduce their energy consumption. This has resulted in further cost-savings for users. 

Another technological driver of the hand dryer market is the development of various sensors and technologies that have allowed for more control and customization. For example, many hand dryers now come with motion sensors that detect when someone’s hands are near the dryer and automatically turn on. This has allowed users to save power and money by only running the dryer when needed. Additionally, some hand dryers now come with adjustable speed settings and variable heat settings which allow users to tailor the experience to their needs.

Economic Drivers

The economic drivers of the hand dryer market are also quite significant. With more people relying on hand dryers for hygiene, the demand for them has increased substantially. This has resulted in an increase in production, resulting in a decrease in prices. This has made hand dryers more affordable and accessible for consumers, resulting in an increase in sales. Additionally, the availability of various financing options and discounts have helped to further drive the market.

High Noise Intensity 

Despite the various technological and economic drivers of the hand dryer market, there are still some restraints that are limiting its growth. One of the main restraints is the fact that hand dryers can be quite noisy. This can be a deterrent for some people who prefer a quieter environment. Additionally, hand dryers can be quite expensive and require regular maintenance and upkeep in order to ensure that they remain functional. This can be a costly investment for some people, which can limit their use of the product. Finally, the use of hand dryers can sometimes be seen as restrictive and inconvenient. For instance, some places may require the use of hand dryers, which can be inconvenient for those who do not have access to them.

Segmental Analysis 

Hands-In Dryer Segment Continues to Dominate Global Hand Dryer Market

In the global hand dryer market, the hands-in dryer segment has the highest share and is expected to maintain its dominance during the forecast period from 2023-2030. This is due to its widespread installation in various establishments such as hotels, airports, restaurants, office buildings, and shopping malls. The efficacy of hands-in dryers is attributed to their drying efficiency, effective bacteria eradication, and cross-contamination prevention.

Jet Hand Dryers Lead Market in Drying Mechanism

The market is segmented into hot hand dryers, jet hand dryers, and hybrids based on drying mechanism. Jet hand dryers dominate the global hand dryer market due to their high efficiency and low energy usage. Jet hand dryers also provide a more effective result in less time than hot air hand dryers. Their low cost has made them a popular choice for public restrooms, schools, shopping malls, and educational institutions. The increasing acceptance of these products is expected to be aided by rising consumer income and awareness of the benefits offered by these products.

Automatic Hand Dryers Have Fastest CAGR

The market is also segmented into automatic and manual based on automation. Automatic hand dryers have the fastest CAGR in the global hand dryer market during the forecast period. This is due to their hassle-free operation, as fully automatic devices do not require any human interaction to operate. Automatic hand dryers are also more hygienic than push-button hand dryers.

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Hospitality Industry Accounts for Highest Share in End Users

Based on end-users, the hospitality industry accounts for the highest share in the global hand dryer market. This is 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.

Regional Analysis 

Europe is the largest consumer of hand dryers in the world, accounting for around 36% of the total global market share. This is due to the relatively high penetration of hand dryers in European countries such as the United Kingdom, France, Germany, Italy and Spain. In addition, the widespread adoption of hand dryers in public places such as hotels, restaurants, airports and other high-traffic areas has contributed to the growth of the hand dryer market in Europe.

In terms of product type, warm air dryers (WADs) dominate the European hand dryer market, accounting for more than 80% of total sales. This is due to their relatively low cost and the fact that they are more energy-efficient than jet air dryers.

In terms of mounting type, wall-mounted hand dryers are the most popular in Europe, accounting for around 65% of the total market share. This is due to their convenience, as they are easy to install and use. Moreover, by end-user segmentation, the hospitality sector is the largest consumer of hand dryers in Europe, accounting for around 40% of the total market. This is due to the fact that hotels, restaurants and other hospitality establishments often require the use of hand dryers to provide guests with a comfortable, hygienic experience.

List of Key Companies Profiled:

• American Dryer, LLC.
• Aqualoo- West Coast Commercial Industries (WCCI) Pty Ltd
• Bobrick Washroom Equipment, Inc.
• Bradley Corporation
• Dyson Technology India Pvt Ltd.
• Electrostar GmbH
• Euronics Industries
• Excel Dryer, Inc.
• Jaguar Group Sdn. Bhd
• Mitsubishi Electric Corporation
• Panasonic Corporation
• Saniflow Corporation
• SPL NZ
• Taishan Jie Da Electrical Co., Ltd.
• Toto Ltd.
• World Dryer
• Other Prominent Players

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