The Business Research Company’s Hand Dryers Market Global Report 2020: COVID-19 Growth and Change. The report covers market size, key players, market share and trends to 2030.
Hand Dryers Market Global Report 2020: COVID-19 Growth and Change is one of a series of new reports from The Business Research Company that provide Hand Dryers market overviews, analyze and forecast market size and growth for the whole market, Hand Dryers market segments and geographies, Hand Dryers market trends, Hand Dryers market geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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The hand dryers market consists of sales of hand dryers and related services. Hand dryers are cost-effective, energy-efficient and eco-friendly devices that are extensively adopted in restaurants, hotels, offices, and malls as a replacement to towel. Hand dryers are electronic machines used for drying hands in public bathrooms that works either by pressing a button or automatically using a sensor. These are highly responsive and are equipped with fast reacting sensors with maximum energy efficiency for instant reaction.
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The global hand dryers market is expected to decline from $0.88 billion in 2019 to $0.79 billion in 2020 at a compound annual growth rate (CAGR) of -9.76%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $1.15 billion in 2023 at CAGR of 13.49%.
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