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The commercial washing machine market share is expected to increase by USD 390.6 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 4.41%.
This commercial washing machine market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers commercial washing machine market segmentations by type (front-loading and top-loading) and geography (Europe, North America, APAC, MEA, and South America). The commercial washing machine market report also offers information on several market vendors, including Alliance Laundry System LLC, BOWE Textile Cleaning GmbH, Dexter Apache Holdings Inc., Electrolux AB, Girbau North America Inc., Haier Smart Home Co. Ltd., Herbert Kannegiesser GmbH, Miele & Cie. KG, Pellerin Milnor Corp., and Whirlpool Corp. among others.
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Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The growing hospitality industry is notably driving the commercial washing machine market growth, although factors such as long replacement cycle may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the commercial washing machine industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Commercial Washing Machine Market Driver
Growing hospitality industry is a key driving factor impacting the global commercial washing machine market growth. After the commercial laundry industry, the hospitality industry generates the highest demand for commercial washing machines. These washing machines are used in hotels, resorts, and other establishments for consumers availing laundry services at these destinations. The hotel industry is growing rapidly in the past five years due to an increase in the travel and tourism market and witnessed significant growth in some specific regions, such as Europe, North Americas, Europe, and the UAE. The hotels and resorts are among the major customers of commercial washing machines. Therefore, the rise in hospitality services will lead to the growth in demand for commercial washing machines.
Key Commercial Washing Machine Market Trend
Introduction of technologically advanced machines is a key trending factor impacting the global commercial washing machine market growth. The global commercial washing machine market has witnessed various technological advances during the past couple of years. The vendors operating in the market strive to provide professional laundry machinery with advanced technological features that would help their consumers enhance productivity. Technological advancements are driven by changing customer attitudes. Such technological advancements and automation of operations in commercial washing machines are expected to enhance the cost, water, and energy efficiency of the latest generation washing machines. Such trends are expected to drive the commercial washing machine market during the forecast period.
Key Commercial Washing Machine Market Challenge
Long replacement cycle will be a key challenge impacting negatively the global commercial washing machine market growth. Commercial washing machines manufactured by popular brands are made of high-quality raw materials, are highly efficient and durable, and have the best engineering, which does not require frequent replacement. Good quality materials such as plastics, fiber, metal, rotating motors, and electronic parts have a longer replacement cycle than washing machines made of standard materials and equipment. The high cost and high durability of these products affect the year-over-year growth of the global commercial washing machine market. Key manufacturers operating in this market provide lucrative warranty and free service schemes for their customers, which further adds value to the lifespan of the washing machines. As the market is cyclic in nature, such buying behavior and pattern discourages the repetitive purchase of washing machines, thereby decreasing the revenue of the market.
This commercial washing machine market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global commercial washing machine market as a part of the global household appliances market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the commercial washing machine market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the commercial washing machine market encompasses successful business strategies deployed by the key vendors. The commercial washing machine market is concentrated and the vendors are deploying growth strategies such as quality, regulatory compliance, and innovation to compete in the market.
Dexter Apache Holdings Inc. - The company offers commercial washing machine equipment such as Washer, Dryer and Stack Washer-Dryer under the Daxter Laundry segment category.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The commercial washing machine market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the commercial washing machine market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of global household appliances market includes the following core components:
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
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