Commercial Laundry Machines Market: Introduction
- Commercial laundry machines consist of a wide range of features with different types of wash cycles. This enables the washing of various types of clothes, as the tolerances vary depending on the type of material. These machines are developed with high quality material and advanced technologies.
- Commercial laundry machines offer laundry solutions to a wide range of industries such as healthcare, hospitality, educational, and service industry. Changes in consumer lifestyle influences the use of commercial laundry machines in these industries.
- As compared to top load machines, the front load machines are efficient and saves considerable water and electricity. This helps commercial operators to save on operational costs. Hence, these advantages are fueling the growth of the commercial laundry machines market.
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Growing hospitality industry fueling the demand for commercial laundry machines
- Laundry equipment includes dry cleaning machines, washing machines, presses, and commercial dryers. Commercial laundry equipment are progressively being used in resorts, hotels, and other establishments. These equipment are also used by individual laundry service providers.
- Increasing construction activity in developing economies such as Japan and China is boosting the hospitality industry. This is due to rising tourism in these countries. These factors are fueling the growth of the commercial laundry machines market.
Rising disposable income
- Increasing disposable income, and awareness about hygienic and efficient cleaning systems is growing among people. This is in turn is encouraging laundry stores to cater to the growing demand for laundry services. In addition, government regulations for energy efficient equipment is increasing competition among vendors to come up with innovative features. These factors are further boosting the growth of the commercial laundry machines market.
- However, factors such as cost of replacing the equipment due to failure, and increasing raw material prices are hampering the market growth.
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Maximum Growth to be observed in the Asia Pacific Market
- In terms of region, the global commercial laundry machines market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa.
- The commercial laundry machines market in Asia Pacific is anticipated to expand at the maximum CAGR during the forecast period.
- This growth is attributed to features of commercial laundry machines, increasing disposable income, and a growing hospitality industry.
- The commercial laundry machines market in North America and Europe is expected to show high growth rate due to increasing competition among players. The market in Middle East & Africa is also likely to show high growth due to an increasing tourism and hospitality industry.
Key Players in the Global Market
The global commercial laundry machines market is highly fragmented due to the presence of a large number of manufacturers. Prominent players operating in the global market are focusing on product launch and technological developments to meet the growing demand.
Key players operating in the global commercial laundry machines market include:
- Alliance Laundry System LLC
- GE Appliances
- Haier Group
- IFB Industries Limited
- LG Electronics
- Toshiba Corporation
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