by Commercial laundries are facilities that receive, wash, dry, and fold clothing and other textiles using commercial-grade washing machines and dryers. Commercial laundry equipment finds application across healthcare facilities, hotels/hospitality industries, laundromats, and other commercial establishments to efficiently process large volumes of soiled linens and uniforms daily.
The global Commercial Laundry Equipment Market is estimated to be valued at US$ 1.04 Bn in 2023 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
Shared laundry services are services wherein a commercial space offers self-service laundry amenities to residential communities and customers. Growing shared laundry services are driving the demand for commercial laundry equipment as such services require continuous operation of quality commercial washers and dryers to serve numerous customers daily. They offer an affordable, flexible, and sustainable solution for doing laundry. The shared laundry services market is projected to witness substantial growth during the forecast period owing increasing preference for convenience over owning personal appliances. This will significantly propel the growth of the global commercial laundry equipment market during the forecast period.
SWOT Analysis
Strength: Commercial laundry equipment such as dry cleaning machines, washers, dryers etc. help achieve optimal productivity and efficiency for commercial applications like hotels, hospitals, restaurants etc. They save both time and labour costs.
Weakness: High initial costs of commercial laundry equipment. Frequent maintenance and repairs required which increases overall costs.
Opportunity: Rising demand from growing hospitality and healthcare industries. Increasing focus on energy-efficient laundry solutions presents an opportunity for green technology providers.
Threats: Price wars among competitors. Rapid changes in technology can make existing equipment obsolete quickly.
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: The North America region currently dominates the market owing to robust demand from healthcare and hospitality industries. The Asia Pacific region is expected to be the fastest growing market due to growing infrastructure and rising middle-class population.
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, Johnson & Johnson, GE Healthcare. Key players operating in commercial laundry equipment are focusing on launching innovative and energy-efficient products to gain a competitive edge. They are also expanding their manufacturing facilities and distribution networks globally, especially in developing regions to tap the untapped potential.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
