(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Oct. 02, 2024 (GLOBE NEWSWIRE) -- The "Commercial Laundry market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global commercial laundry market has grown steadily in recent years. It will grow from $1.37 billion in 2023 to $1.43 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth during the historical period can be attributed to several factors such as increased demand for automated washing machines, the rise of industrialization and urbanization, a growing need for commercial laundry services, heightened awareness and regulation of hygiene, and rising consumerism.
The commercial laundry market is expected to see strong growth in the next few years. It will grow to $1.75 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%.
The projected growth during the forecast period can be attributed to several factors such as an increasing volume of medical linens and uniforms, the expansion of new hotel chains, a growing global population, rising tourism, expanding commercial infrastructure, and heightened demand from various industries.
Key trends expected in this period include innovations in smart technologies, integration of Internet of Things (IoT) solutions, advancements in technology, the adoption of AI-powered stain removal and self-service kiosks, and developments in automated garment sorting.
Leading companies in the commercial laundry market are developing advanced products such as AI-powered washers to enhance efficiency and reduce water and energy consumption.
North America was the largest region in the commercial laundry market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the commercial laundry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the commercial laundry market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Report Scope
Where is the largest and fastest growing market for commercial laundry? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Markets Covered:
1) By Type: Commercial Washer; Commercial Dryer; Commercial Dry Cleaning Equipment; Pressing Machines; Finishing Equipment; Other Types
2) By Distribution Channel: Hypermarkets And Supermarkets; Retail Stores; Online Stores; Other Distribution Channels
3) By Application: Hospitality; Healthcare; Educational Institutions; Industrial; Retail Laundry Services; Other Applications
Key Companies Mentioned: LG Corporation; Whirlpool Corporation; Miele & Cie. KG; Maytag Corporation; GE Appliances
A selection of other companies mentioned in this report includes, but is not limited to:
Alliance Laundry Systems LLC Electrolux Professional Jensen-Group Continental Girbau Inc. Dexter Laundry Inc. Pellerin Milnor Corporation Fagor Industrial American Dryer Corporation (ADC) G.A. Braun Inc. Lapauw International N.V. Laundrylux Inc. B&C Technologies Renzacci S.p.A. Firbimatic S.p.A. Yamamoto Manufacturing Co. Ltd. Danube International
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024-2028 |
| Estimated Market Value (USD) in 2024 | $1.43 Billion |
| Forecasted Market Value (USD) by 2028 | $1.75 Billion |
| Compound Annual Growth Rate | 5.1% |
| Regions Covered | Global |
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Commercial Laundry Market
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