April 20, 2024
Commercial Laundry Equipment Market

Commercial Laundry Equipment Market Is Powering Productivity Trends By Automation

Commercial laundry equipment is essential for laundering large volumes of linens, uniforms, and other textiles for hotels, hospitals, laundries, and other commercial users. Key products in this category include commercial washers, dryers, flatwork ironers, folders, and accessory equipment that help automate and streamline commercial laundry processes. Commercial washers can wash thousands of pounds of laundry per day in large cylindrical or high-efficiency front-loading machines. Commercial dryers range from large gas models to more efficient electric types for drying bedsheets, towels, and other moisture-laden textiles on an industrial scale.

The Global Commercial Laundry Equipment Market is estimated to be valued at US$ 1.62 Bn in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period from 2024 to 2030.

Key Takeaways

Key players operating in the Commercial Laundry Equipment are Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, Biotronik SE & Co. KG, MicroPort Scientific Corporation, LivaNova PLC, Nihon Kohden Corporation, Schiller AG, Johnson & Johnson, GE Healthcare. These key players are investing in R&D activities to develop innovative commercial laundry equipment.

The growing demand from hospitality sector is boosting the Global Commercial Laundry Equipment Market Size. Hotels require efficient commercial laundry equipment to handle large volumes of linens on a daily basis. Moreover, the rising number of hotels to support the growing tourism industry will further propel the demand.

The market is also witnessing high growth opportunities in developing regions due to global expansion strategies of major players. Manufacturers are focusing on Asia Pacific and Middle East & African regions considering developing infrastructure and rising disposable income in these regions. This will attract more consumers and drive the commercial laundry equipment market growth globally over the forecast period.

Market Key Trends

Automation is one of the major trends being witnessed in the commercial laundry equipment market. Equipment manufacturers are integrating advanced technologies like IoT, RFID, sensors and analytics to develop smart connected commercial laundry systems. This helps in monitoring machine performance, predictive maintenance, and streamlining laundry operations. Automation helps reduce labor cost and improve throughput significantly thereby enhancing productivity. The growing popularity of automated commercial laundry equipment will continue shaping market trends over the next few years.

Porter’s Analysis

Threat of new entrants: High investment cost and well established customers relationships of existing players make entry difficult for new players.

Bargaining power of buyers: Large buyers have significant influence on price and purchase decisions due to high volume purchases.

Bargaining power of suppliers: Suppliers have less influence due presence of many component suppliers and accessibility of raw materials.

Threat of new substitutes: Limited threat of substitution as commercial laundry equipment offers bulk processing of laundry with efficiency.

Competitive rivalry: Intense competition among established players to gain market share through product innovation, branding and customer services.

Geographical Regions

North America accounts for the largest share of the global commercial laundry equipment market in terms of value. Factors such as presence of major players and developed healthcare infrastructure drive the market in the region.

Asia Pacific is expected to grow at the fastest rate during the forecast period. Increasing population, rising disposable income and improving access to healthcare facilities are key factors fueling the demand for commercial laundry equipment in emerging economies of China and India.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it