Hand dryers market generated a revenue of $517 million in 2014 and is expected to reach $1.350 million by 2022 with a notable CAGR of 13.0%. Product launch showcasing new technology to produce goods according to customer demands is a prominent strategy adopted by the key players in the world hand dryer market. Moreover, new technological developments in the product adds to the product portfolio of the existing players to remain competitive in the market. Through these developments, companies try to reduce the noise level in their products and minimize the bacterial spread in the washrooms. Customers over the globe prefer quieter and highly efficient hand dryers which consume less time.
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Value chain of hand dryer features various raw material supplier, manufacturers and product assemblers, sales and distribution, and end user. Each of these players share a specific value at their point of operation, which in turn contributes to the competitive value of the product. Because of high degree of competition among the key market players, companies would reduce their prices thereby enhancing their worldwide market share. The value chain of hand dryers starts from supply of materials that are used for designing the Hand dryer, such as body material, control circuitry, wires, hand dryer heater, hand proximity sensor, and indicators & switches as shown in the figure below.
Raw material supplier
Raw materials include body material, control circuitry, wires, hand dryer heater, hand proximity sensor, and indicators & switches which are extensively used for manufacturing hand dryers. The suppliers of these components ensure a smooth supply in the manufacturing and production stages.
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Hand dryer manufacturers
Hand dryers are manufactured by several leading players in the market such as Mitsubishi Electric Corporation, Palmer Fixture, Bio Jetdrier, and Hokwang Industries among others. These players offer a wide range of hand dryers for its usage by different end users.
Manufacturing and assembly
Hand dryer products are manufactured under high-quality production control standards that include a well layout design considering all the parameters affecting and afterwards a series of checks and tests based on company quality assurance systems and user monitoring programs. In addition, manufacturers develop product pertaining to users hygiene and need.
Sales and distribution
The channels for the sale of hand driers constitute of supermarkets, special utility stores and online shopping websites. Supermarket and hypermarket are the dominant distribution channels in North America and Asia-Pacific.
Hand driers find their application in the restrooms almost everywhere ranging from hotels, malls, offices, hospitals, and clinics. Impending need of cleanliness and maintenance of hygiene make it one of the most important equipment especially in hospitals and hotels as it prevents pathogen spread and contamination of hands.
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The market is segmented on the basis of product type, end user, mode of operation, and geography. It is analyzed across four regionsNorth America, Europe, Asia-Pacific, and LAMEA along with the prominent countries of each region.
On the basis of product type, it is categorized into hot hand dryer and jet hand dryer. Jet hand dryers accounted for maximum revenue share in 2014 and is anticipated to dominate the market throughout the forecast period, 2016-2022. Food processing and service industry accounted for maximum revenue in 2014, whereas Hospitals would be the fastest growing end user segment during the forecast period. Hotels now utilize hand dryers owing to the environmental concerns that arise because of paper towels. These premises use high speed hand dryers to create more sanitary environment.
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