Commercial Laundry Equipment Market is Anticipated to Witness High Growth Owing to Rising Demand from Commercial Sectors

 

The commercial laundry equipment market involves manufacturing and sales of laundry equipment used in commercial settings such as hotels, hospitals, and laundromats. Commercial laundry equipment includes washing machines, dryers, ironers, finishers, feeders, folders, and other industrial-grade machines capable of processing large volumes of dirty garments and linens. The commercial laundry equipment market is gaining widespread prominence due to the growing number of businesses that require regular cleaning of uniforms and linen items such as bed sheets, towels, and tablecloths. Hotels, hospitals, schools and other institutions typically have on-site commercial laundries for processing linens in bulk quantities. The laundry equipment used in these commercial laundries are more durable and designed to handle heavy loads as compared to domestic appliances.

The Global commercial laundry equipment market is estimated to be valued at US$ 1.62 Bn in 2024 and is expected to exhibit a CAGR of 7.4% over the forecast period of 2024 to 2030.

Key Takeaways

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, and Johnson & Johnson. Medtronic plc is a leading provider of commercial laundry equipment with a global footprint. The company offers various types of washing machines, dryers, and folders catering to commercial demands.

The key opportunities in the commercial laundry equipment market include growing demand from emerging economies in Asia Pacific and Latin America attributed to rising middle-class population and establishment of new hospitality chains and healthcare facilities. Countries like India, China, Brazil and Mexico are witnessing expansion of commercial sectors necessitating installation of industrial-grade laundry equipment.

Globally, commercial laundry equipment manufacturers are focusing on expanding their geographical footprint and enhancing aftersales services to strengthen foothold. Companies are also strategizing mergers and acquisitions to consolidate their market shares across regions. For instance, in 2022, Whirlpool Corporation acquired Inglis, a Canada-based commercial appliances manufacturer, to gain access to Inglis’ established network across North America.

Market drivers:

One of the major drivers for the Global Commercial Laundry Equipment Market Size is increasing construction activities of hotels, hospitals, and laundromats owing to rapid urbanization and growing tourism sector globally. Setting up of new businesses providing laundry services has also augmented the demand for commercial washers, dryers, and other machinery.

Market restraints:

High initial installation and maintenance cost of commercial laundry equipment acts as a major restraint for market growth. These machines are costly compared to domestic appliances which deters small businesses from upgrading their laundry solutions. Fluctuations in raw material prices also adversely impacts the costs of commercial laundry equipment manufacturers.

Segment Analysis

This market comprises of different types of commercial laundry equipment like commercial washers, commercial dryers, pressing machines, commercial washer extractors, ironers etc. The commercial washer segment dominates the market accounting for over 30% share. These washers are suitable for laundromats, hotels, hospitals, nursing homes and other commercial institutions that deal with bulk laundry cleaning requirements on a daily basis. Their heavy duty functions and higher loading capacity makes them ideal for commercial usage.

Global Analysis

Regionally, North America dominates the commercial laundry equipment market. The region accounts for around 35% of the overall market share. This is because of presence of many hotels, hospitals and laundromats in countries like US and Canada which require commercial level laundry equipment on daily basis. Asia Pacific region is the fastest growing market for commercial laundry equipment. Countries like China, India and Japan are witnessing rapid establishment of laundromats, hotels and hospitals which is driving the demand for commercial washers, dryers and other equipment. Further, growing textile and garment industries especially in developing Asian countries is also proliferating the usage of commercial laundry solutions in industrial settings.

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