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2020-09-01
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Global
According to Goldstein Market Intelligence, global commercial laundry machinery market is set to grow at a CAGR of 7.1% over the forecast period (2017-2030). North America is probably the more mature market for vended and on-premise machines. Manufacturers are seeing growth in emerging markets such as China and India. However, countries like Japan, South Korea and Taiwan have accepted the laundromat concept for years and are strong markets for commercial laundry machineries. Commercial laundry, dry-cleaning equipment, and distribution business is highly fragmented, with full-line or partial-line equipment distributors, globally. All distributors are independently owned and primarily focused on local & regional markets. For instance, in 2016, U.S. and Canada sales in the commercial laundry equipment industry were made to the following customer segments: laundromats, at 42.66%, multi-housing laundries (31.09%), and on-premise laundries (motels, hotels, nursing homes, prisons, et cetera), at 26.25%.
Global market for the hospitality industry is expected to see year-over-year growth of about 3.05% for the next five years. While this may highlight the trend of global citizens traveling more, taking more time off from work, and investing in travel expenses, this also has implications of another growing market: laundry.
South Korea overall laundry market is worth about USD 3.85 billion and is mostly offline. In South Korea, vended market is primarily laundromats and the on-premise market includes customers such as assisted living and long-term care facilities, fire departments, hospitals, hotels and nursing homes. Laundromats provide washing machines for individuals to use for a fee and are the largest downstream market for commercial washing machine manufacturers. However, industry operators have increasingly relied on other markets, including multifamily residences and on-premise laundering facilities. Nevertheless, as laundromats expand their operations or upgrade their existing equipment, demand for commercial washing machines generally improves. In 2020, demand from laundromats is expected to decrease marginally, representing a threat to this industry.
Major competitors in this industry include Whirlpool Corporation, The Dexter Company, Super Laundry Equipment Corp., and Alliance Laundry Systems. Among which, Proctor and Gamble has entered into the commercial dry-cleaning business. P&G introduced its Tide Dry Cleaners franchise to leverage its marketing prowess as well as six decades of experience in fabric care business.
On The Basis of Equipment Type
On The Basis of End User Sector
On The Basis of Laundry Machinery Segment
On The Basis of Regions
The report analyses and includes complete detailed chapter of 50-70 pages about the short term & long terms impact of COVID-19 outbreak on each segment of "Global Commercial Laundry Machinery Market " along with government measures to support the sector. It also showcases the current market landscape during COVID, impact of the virus on leading companies, expected demand schedule and supply chain in the industry and other various major factors. This will help you identify those companies that may benefit from this pandemic as well as those that will lose out.
A complementary 2hrs free facility through which report buyers can interact with our pool of experienced analysts for any report related queries, clarifications or additional data requirements
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