The global demand for electric hand dryers is forecasted to grow 12 per cent annually over the next four years, according to a new study from industry market research firm Infiniti Research.
The study, entitled “Global Electric Hand Dryer Market 2016-2020,” attributes the rise in demand to increased worldwide awareness about washroom hygiene.
Additionally, the report forecasted that the largest growth will be seen in the European Union, driven by the large number of hotels and restaurants in the region.
Customisation of products is another fast-moving trend that is driving the growth of the electric hand dryers market, as manufacturers cater to the needs of users.
With an enormous share of more than 63%, the hot hand dryer segment dominated the electric hand dryer market and is likely to maintain its number one position during the forecast period. The demand for these dryers is much higher compared to jet hand dryers because they are less expensive, the report says.
Competition in the present market is fierce. The study concludes that continuous product innovation by vendors is the key factor to withstand the competition and enhance their market share. Some vendors are focusing on producing electric hand dryers that are both user-friendly and eco-friendly.
To obtain the full report, click here.
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