Elevated lifestyle of consumers and greater awareness of personal hygiene among consumers propel the growth of the global body dryers market
PORTLAND, Oregon, Aug. 13, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, Body Dryer Market by Type (Wall Mounted and On Floor) and End Use (Residential and Commercial): Global Opportunity Analysis and Industry Forecast, 2019-2026. The research offers a detailed analysis on changing market dynamics, key investment pockets, major segments, and market competition. According to the report, the global body dryers market generated $2,641.5 thousand in 2018, and is expected to reach $3,424 thousand by 2026, growing at a CAGR of 3.4% from 2019 to 2026.
Factors such as improved lifestyle of consumers and increase in consumer consciousness toward personal hygiene boost the growth of the body dryers market. However, high cost of body dryers and wide availability of alternatives such as cloth & disposable towels are major challenges faced by the industry. Conversely, increase in awareness of body dryers, technical advancements, and wide availability of the product create new opportunities for the growth of the market.
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Wall mounted segment to be lucrative through 2026-
Based on types, the wall mounted segment was the largest in 2018, capturing more than three-fourth of the market share and would maintain its dominance through 2026. The same segment would grow at the fastest CAGR of 3.7% during the study period. This is attributed to the convenience offered by wall mounted body dryers to disabled or aged people.
Commercial segment to lead in terms of revenue through 2026-
Based on end users, the commercial segment accounted for 91.3% of the total market share in 2018 and would retain its dominance through 2026. This is due to high adoption of body dryers in hospitals, gym, hotels, entertainment parks, swimming pools, yoga centers and spa. However, the residential segment is likely to witness the fastest CAGR of 4.4% during the forecast period. This is attributed to high penetration of body dryers in luxury houses.
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Asia Pacific to be the fastest growing through 2026-
Based on geography, Asia Pacific is expected to achieve the fastest growth of 5.4% during the study period. This is due to rise in consumer spending on health & hygiene in the region. However, the North America market grabbed more than two-fifth of the total market share in 2018 and is likely to dominate the market through 2026, owing to the high penetration of body dryers in the region, especially in the developed economies.
Key players in the industry-
Leading market players analyzed in the research include Avant Innovations, Dolphy India Private Limited, Full Body Dryer LLC, Haystack Dryers, Indiegogo, Inc., Kingkraft, Orchids International, Regal Care Shower Trays Ltd., Tornado Body Dryer, LLC, and Valiryo.
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