The global hand dryers market is anticipated to reach a valuation of USD 1.59 billion by 2024, according to a new study by Grand View Research, Inc. In terms of volume (shipments), the market is expected to exhibit a CAGR exceeding 14.0% during the forecast period. The increasing government initiatives to spread awareness about hygiene and cleanliness are expected to drive demand over the next eight years. The rapid growth in the hospitality sector with a surge in the number of restaurants, pubs, and hotels is anticipated to fuel demand. The growth of smart cities and infrastructure development is further expected to boost the industry growth over the forecast period.
Technological advancement, quality, price, and energy efficiency affect the buying decision of end-users. The declining cost of hand dryers, paired with an additional benefit of reducing the operational cost, is expected to propel the product demand over the forecast period; particularly in the commercial sector. The growing awareness of the use of eco-friendly appliances and energy efficient products is also anticipated to favor the industry growth over the period of 2016 to 2024. The related noise pollution and high initial cost associated with the high-speed automatic hand dryers are expected to hinder the industry growth significantly over the coming years. The rising health concerns on account of spreading germs and bacteria with the use of hand dryers may adversely impact the hand dryers’ demand. Full Research Report On Global Hand Dryers Market By Grand View Research: www.grandviewresearch.com/industry-analysis/hand-dryer-market Further key findings from the study suggest:
www.grandviewresearch.com/industry/electronic-devices Grand View Research has segmented the hand dryers market on the basis of product, operation, mounting technique, end-use industries, and region: Hand Dryers Product Outlook (Volume & Revenue, USD Million, 2008 - 2024)
www.grandviewresearch.com/press-release/global-hand-dryer-market About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information: www.grandviewresearch.com
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