SAN JOSE, Calif. — The global market for commercial laundry machinery is expected to reach $3.6 billion by 2015, driven by rising demand from the Asia and Latin America markets, according to a recent report from Global Industry Analysts Inc. Customer moves toward high-value equipment with improved functionality, water usage and energy efficiency are another driving factor, a press release summarizing the report states.
The United States and Europe account for a major share of the global market and are expected to post modest growth driven by the continued increase in population and rise in replacement sales, according to Global Industry Analysts.
Demand from the developing Asia and Latin America markets is primarily driven by increased laundry needs and a rise in disposable incomes. An increase in the outsourcing of linen and garment cleaning by large institutions such as hotels, hospitals and airlines is expected to boost the market for commercial laundry services in countries such as China, the release adds.
Washers and extractors account for the majority of commercial laundry machinery sales, followed by dryers and presses, the release says.
The report, titled Commercial Laundry Machinery: A Global Strategic Business Report, covers market dynamics, trends, issues, and competition pertaining to the market and enumerates recent product introductions/innovations, developments, clinical trials, mergers, acquisitions, and other strategic industry activities. Product segments analyzed in the study include washers, dryers, presses and drycleaning equipment. Analysis is presented for 2001-2005 and 2006-2015 for emerging and established markets including the United States, Canada, Japan, Europe, France, Germany, Italy, United Kingdom, Asia-Pacific and more.