Commercial laundry equipment includes washing machines, dryers, and ironing equipment that are used for large-scale industrial laundry applications across hotels, hospitals, laundromats, and other commercial sectors. Commercial laundry equipment caters to large volume laundry needs and helps save water, time, and energy through efficient washing and drying cycles. The global Commercial Laundry Equipment Market is estimated to be valued at US$ 1.4 Bn in 2024 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:
Sustainability has become one of the major trends in the commercial laundry equipment market. Equipment manufacturers are focusing on developing sustainable laundry solutions that utilize lesser resources like water and energy. Eco-friendly features like ozone cleaning technology, moisture sensors, solar-powered operations are gaining popularity. Adoption of such sustainable technologies allows commercial laundries to lower electricity and water expenses while also reducing environmental impact. Several organizations have also started prioritizing purchase of equipment from brands that adopt greener manufacturing practices. This trend is expected to drive future growth in the market.
Segment Analysis
The global commercial laundry equipment market is dominated by the commercial washer sub segment. Commercial washers account for over 35% of the market share as they see widespread adoption in hotels, hospitals, and laundromats. Their ability to wash large loads of linen and garments in one cycle makes them very efficient for commercial and industrial use where large volumes of washing is required daily.
Key Takeaways
The global commercial laundry equipment market growth is expected to witness high driven by rapid urbanization and expansion of the hospitality sector.
Regional analysis: North America currently dominates the global commercial laundry equipment market accounting for over 30% share. This is attributed to strong presence of key players and widespread establishment of laundromats in the region. The Asia Pacific region is expected to be the fastest growing market during the forecast period supported by rising standards of living, growing tourism industry in countries like India and China.
Key players: Key players operating in the commercial laundry equipment market are Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, Biotronik SE & Co. KG, 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.
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