by Commercial laundry equipment comprises machines and dryers that are used for large-scale cleaning of uniforms, linens, towels and other supplies in commercial settings. Features like energy efficiency and high processing capacity help lower operational costs for businesses. The demand is rising significantly among hotels, hospitals, nursing homes and laundromats due to increase in their operations. The global Commercial Laundry Equipment Market is estimated to be valued at US$ 1.4 Bn in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends spurring the growth of commercial laundry equipment market is increased demand from healthcare and hospitality industries. With increasing healthcare infrastructure and rising number of hospitals and clinics globally, the need for cleaning large amounts of bed sheets, towels, uniforms and other linens is surging. Similarly, expansion of hotel chains and focus on Hygiene is propelling the sales of commercial laundry machines worldwide.Their ability to process large volumes of laundry swiftly and efficiently makes them irreplaceable for industries like healthcare and hospitality that generate huge amounts of soiled linen and uniforms daily. This rising demand from end-use industries is anticipated to drive the commercial laundry equipment market substantially over the forecast period.
SWOT Analysis
Strength: Commercial laundry equipment offers long service life and minimizes operational costs through efficient use of water, energy, and chemicals. They help conserve resources and reduce environmental impact.
Weakness: High initial investment requirements for commercial laundry equipment increases payback period. They require proper maintenance which increases overall costs.
Opportunity: Growing laundromats, hospitality industry and healthcare facilities are driving the adoption of commercial laundry equipment. Rising focus on sustainability and automation also presents opportunities.
Threats: Presence of alternative laundry solutions like coin-operated laundries and deployment of used/refurbished equipment are threats. Trade barriers and tough competition also affect market players.
Key Takeaways
The global commercial laundry equipment market demand is expected to witness high growth over the forecast period of 2023 to 2030.
Regional Analysis: North America dominates the market currently due to widespread laundromats, hotels and hospitals in the region. The Asia Pacific market is expected to grow at the fastest pace due to growing middle class population, rapid urbanization and expansion of laundry service providers.
Key players operating in the commercial laundry equipment market are Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, Biotronik SE & Co. KG, MicroPort Scientific Corporation, LivaNova PLC, Nihon Kohden Corporation, Schiller AG, and Johnson & Johnson. The market is characterized by high competititon among these players. GE Healthcare also offers a wide range of commercial laundry equipment such as washer-extractors, dryers, ironers and finishers targeting varied washing needs.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
