This will be driven by the rapid growth in the hospitality industry across the world. Few of the factors driving the growth of travel, tourism, lodging, and hotel industry include rising volumes of international tourism and domestic vacations supported by rising incomes and falling airline fares; increased infrastructural developments; increased use of digital tools for flight and accommodation booking in a manner that makes the process cost-effective, easy and convenient.
Washers, one of the segments analyzed and sized in this study, display the potential to grow at over 5.1%. The shifting dynamics supporting this growth make it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$2.4 Billion by the year 2025, Washers will bring in healthy gains adding significant momentum to global growth.
Representing the developed world, the United States will maintain a 5.5% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$121.1 Million to the region’s size and clout in the next 5 to 6 years. Over US$215.3 Million worth of projected demand in the region will come from the Rest of the European markets. In Japan, Washers will reach a market size of US$92.4 Million by the close of the analysis period. As the world’s second-largest economy and the new game-changer in global markets, China exhibits the potential to grow at 7.4% over the next couple of years and add approximately US$228.8 Million in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders.
In the Middle East and Africa markets, the demand for laundry appliances is growing due to the rising population that owns a home. The growth rate for laundry appliances is anticipated to grow due to high purchasing power and low penetration in the region. However, due to varying geographical distribution and differences in the population distribution is going to be a challenge for the market. The region is expected to show dynamic demand in both lower-end and premium end segments owing to higher disposable income and innovation and development in the market.
For inquiries on commercial laundry equipment, please contact us on; 0706 606 072 or info@hensonlaundry.com or visit our showroom at Ananas Centre, Westlands.
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