1. Business

Rising Adoption of Commercial Laundry Equipment Market to Drive Growth in the Hospitality and Healthcare Industries

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Commercial laundry equipment has wide ranging applications in the hospitality and healthcare industries owing to strict hygiene standards. Commercial laundries process large volumes of linens such as bed sheets, towels, patient gowns, uniforms and more on a daily basis. They are equipped with advanced washing and drying systems along with folding and sorting capabilities to efficiently handle high workloads.

The global commercial laundry equipment market is estimated to be valued at US$ 1.62 billion in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period 2024 to 2030.

Key factors influencing growth include rapid expansion of the hospitality industry, increasing focus on healthcare infrastructure in developing economies and need for automated solutions to optimize workloads.

Key Takeaways

Key players: The major players in the commercial laundry equipment market are Alliance Laundry Systems, Whirlpool Corp, Electrolux AB, LG Electronics and Haier Group Corp. They offer a wide portfolio of commercial and industrial grade washers, dryers, presses and finishing equipment.

Growing demand: Rapid growth of chains in the hotel, restaurant and healthcare sectors is driving demand for bulk laundry processing equipment. Commercial equipment can wash larger loads while consuming less water and energy compared to household appliances.

Technological advancement: Equipment manufacturers are focusing on introducing connected solutions for predictive maintenance and remote monitoring. They are also developing drying technologies that are more energy and water efficient to reduce operating costs.

Market Trends

Adoption of IoT solutions: Many commercial laundry OEMs have launched smart laundry solutions integrated with IoT and analytics capabilities. This allows tracking machine performance, automating maintenance schedules and managing workloads remotely.

Sustainability focus: There is increased emphasis on developing energy and water efficient commercial dryers and washers. Heat pump dryers, ozone cleaning systems and solar powered alternatives are gaining traction to reduce carbon footprint.

Market Opportunities

Growth in Asian markets: Countries like India, Indonesia and Vietnam are witnessing rising disposable incomes and expansion of retail, hospitality and medical tourism industries. This will drive new equipment installations.

Maintainance and upgrade services: As the installed base of commercial machines increase, opportunities will emerge for stakeholders in the aftermarket services segment including repair, replacement of parts and modernization.

Impact of COVID-19 on Global Commercial Laundry Equipment Market Size:

The COVID-19 pandemic had a significant impact on the commercial laundry equipment market. During the initial lockdowns in major economies, most commercial establishments like hotels, hospitals, restaurants etc. were shut down. This led to a drastic fall in demand for commercial laundry equipment in 2020. Manufacturing facilities were also shut as workers stayed home due to lockdowns and social distancing norms. Supply chains were disrupted globally affecting procurement of raw materials and parts. However, as the pandemic persisted, there was a growing need for proper hygiene and sanitization in hospitals and healthcare facilities. This boosted demand for commercial washing machines and dryers in the healthcare sector. With relaxations in restrictions in 2021-2022 and resumption of business activities, demand started recovering gradually across geographies. However, the sector is yet to return to pre-COVID levels fully. In the coming years, greater focus on hygiene is likely to drive equipment upgrade cycles. Manufacturers will need to strengthen supply networks and focus on categories like healthcare to deal with future disruptions better.

Geographical Regions with Highest Market Value for Commercial Laundry Equipment:

North America accounts for the largest share of the global commercial laundry equipment market in terms of value. The United States is a key market where demand is driven by a large services sector comprising hotels, hospitals and laundromats. Strong emphasis on hygiene, developed infrastructure and replacement demand from existing installed base support market growth. Europe is the second largest regional market led by countries like Germany, the UK and France. Presence of many global players and organized sectors like hospitality and healthcare drive equipment procurement. Asia Pacific is poised to be the fastest growing market for commercial laundry equipment over the coming years. Major economies like China and India are seeing expansion of commercial services requiring laundry solutions. Increasing income levels and investments in infrastructure like hospitals are catalyzing demand across developing nations in the region.

Fastest Growing Regional Market for Commercial Laundry Equipment:

Asia Pacific is projected to be the fastest growing regional market for commercial laundry equipment globally in terms of value during the forecast period. China and India are expected to spearhead growth owing to urbanization, expanding middle class and developing commercial sectors. Rising investment in healthcare infrastructure and tourism industry across Southeast Asian countries will also contribute to market revenues. Investments in laundromats and industrial laundries are increasing to cater to tier-II and tier-III cities gaining scale. Local manufacturers are strengthening capabilities supported by technological collaborations. This is expected to make Asia Pacific a lucrative production base besides catering to rising local demand. By 2030, the region is forecasted to account for over 30% share of the global commercial laundry equipment market value.

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