May 22, 2024
Commercial Laundry Equipment Market

Commercial Laundry Equipment Is Expected To Be Flourished By Rising Demand From Hospitality Sector

Commercial laundry equipment includes washing machines, dryers, and ironers that are used for large-scale laundry applications such as in hospitals, hotels, nursing homes, educational institutions, and laundromats. Commercial laundry equipment have large capacity for processing large volumes of linens, uniforms, and other items. They are capable of handling significant laundry loads in a single cycle. Commercial laundry equipment incorporates advanced technological features such as variable load control systems, moisture sensors. The global commercial laundry equipment market is primarily driven by increasing demand from hospitality sector such as hotels, restaurants, and hospitals. The hospitality sector is witnessing steady growth globally due to increasing disposable incomes, changing lifestyle, and corporate and business travel. This growing demand from hospitality sector is expected to boost the demand for commercial laundry equipment over the forecast period.

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 Dynamics

The (commercial laundry equipment market is expected to be flourished by rising demand from hospitality sector) is a key driver expected to boost the market over the forecast period. Additionally, technological advancements in laundry equipment is another driver estimated to propel the market growth. Equipment manufacturers are increasingly focusing on incorporating innovative technological features such as energy-efficient systems, advanced control systems for measuring wash cycles and settings, sensors for determining remaining time and load weight into commercial laundry equipment. This helps streamline the laundry process, reduces operational costs, and improves overall efficiency. Features such as smart connectivity that enable remote monitoring and management of equipment are also gaining popularity.

Segment Analysis

The commercial laundry equipment market can be segmented based on type which includes commercial washer, commercial dryer, and commercial ironer. Among these, the commercial dryer segment dominated the market in 2024 accounting for around 35% share. The segment is dominating as commercial dryers have more demand across end-users like hospitality, healthcare, and laundry care centers owing to high drying and folding capacity.

PEST Analysis

Political: The regulations regarding energy efficiency of commercial laundry equipment is driving adoption of technologically advanced equipment. Some countries provide subsidies for switching to energy-efficient technologies.
Economic: With growing number of hotels, hospitals, and laundromats, the demand for commercial laundry equipment is rising. The cost-effectiveness of outsourcing laundry needs to commercial services is fueling market growth.
Social: Rising income levels and urbanization is propelling the laundry care industry. Customers prefer professional cleaning of clothes which is boosting establishment of commercial laundries.
Technological: Manufacturers are focusing on innovations like connected technologies, auto detergent dosing, and monitoring features to improve efficiency and productivity. Energy efficient products are gaining traction to reduce electricity costs.

Key Takeaways

The global  Commercial Laundry Equipment Market Demand is expected to witness high growth during the forecast period of 2023 to 2030 owing to expansion of the hospitality and healthcare industries.

Regional analysis: North America dominated the market in 2024 accounting for around 30% share led by the US. The region is expected to continue its dominance during the forecast period attributed to the strong presence of key players and growing demand from commercial laundries to reduce operating costs.

Key players: 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. These players are focusing on new product launches and geographical expansion to strengthen their market presence.

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