Global commercial washing machine market to grow at a CAGR of 5.31% during the period 2018-2022.
The report has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is the introduction of technologically advanced machines. The global commercial washing machine market has witnessed various technological advances during the past couple of years. The vendors operating in the market strive to provide professional laundry machineries with advanced technological features that would help their consumers enhance productivity.
One driver in the market is the growing hospitality industry. After the commercial laundry industry, the hospitality industry generates the highest demand for commercial washing machines. These washing machines are used in hotels, resorts, and other establishments for consumers availing laundry services at these destinations. The hotel industry is growing rapidly since the past five years due to an increase in the travel and tourism market and witnessed significant growth in some specific regions, such as North Americas, Europe, and the UAE.
One challenge in the market is long replacement cycle. Commercial washing machines manufactured by popular brands are made of a superior quality raw material, are highly efficient and durable, and have the best engineering, which does not require frequent replacement. These commercial washing machines are expensive and easily last for 7-14 years, depending upon the use and raw materials used to manufacture the product.