Insights & Forecast with Potential Impact of COVID-19 - Global Commercial Washing Machine Market 2020-2024 | Growing Hospitality Industry to Boost Market Growth | Technavio

Technavio has announced its latest market research report titled Global Commercial Washing Machine Market 2020-2024

LONDON--(BUSINESS WIRE)--Jun 30, 2020--

The global commercial washing machine market size is expected to grow by USD 400.47 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200630005690/en/

Technavio has announced its latest market research report titled Global Commercial Washing Machine Market 2020-2024 (Graphic: Business Wire)

Request for Technavio's latest reports on directly and indirectly impacted markets

Market estimates include pre- and post-COVID-19 impact on the commercial washing machine market -Download free sample report

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. In addition, the number of hotels has been growing rapidly since the past five years, especially in specific regions, such as Europe, North Americas, and the UAE, due to an increase in the travel and tourism market. Many popular hotel chains are expanding their presence by building new hotels at multiple locations across the globe. For instance, Dubailand in Dubai spans 278 sq.km, and the estimated project cost is USD 64 billion. The project includes the world's largest hotel, with 6,500 rooms, and a 10-million-sq.ft mall. The project is expected to complete by 2025. The rise in hospitality services is hence, expected to lead to the growth in demand for commercial washing machines.

To learn more about the global trends impacting the future of market research, download a free sample:https://www.technavio.com/talk-to-us?report=IRTNTR44122

The COVID-19 outbreak has adversely affected several industries across the world. The growing number of cases has led to the shutdown of many industries and businesses across regions, including the consumer discretionary industry, retail outlets, and e-commerce businesses. The global commercial washing machine market is also expected to have a negative impact due to the spread of the pandemic.

As per Technavio, the rising adoption of multi-housing laundry washing machine will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Commercial Washing Machine Market: Rising Adoption of Multi-housing Laundry Washing Machine

The rising adoption of multi-housing laundry washing machine is one of the major factors driving the growth of the commercial washing machine market during the forecast period. Multi-housing laundries comprise of common or public laundry facilities that are provided at multi-dwelling units such as apartments, condominiums, universities, and military and residential establishments. These commercial washing machines are mostly small chassis, top-load or front-load washing machines, and are equipped with different types of payment systems. These washing machines also deliver enhanced durability and performance. Further, the additional feature of audit allows service providers to monitor and track the users' cycle and the money collected to avoid any operational cost discrepancy.

“Factors such as the introduction of technologically advanced machines, and the advent of card-operated washing machines will have a significant impact on the growth of the commercial washing machine market value during the forecast period,” says a senior analyst at Technavio.

Register for a free trial today and gain instant access to 17,000+ market research reports

Commercial Washing Machine Market: Segmentation Analysis

This market research report segments the commercial washing machine market by type (front-loading and top-loading) and geography (Europe, North America, APAC, MEA, and South America).

The European region led the commercial washing machine market in 2019, followed by North America, APAC, MEA, and South America respectively. During the forecast period, the European region is expected to register the highest incremental growth due to factors such as the high demand for hotels and resorts, the growing population in the UK, and the rising tourism and hotel industry.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.Request a free sample report

Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

CONTACT: Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email:media@technavio.com

Website:www.technavio.com/

KEYWORD:

INDUSTRY KEYWORD: RETAIL OTHER RETAIL

SOURCE: Technavio Research

Copyright Business Wire 2020.

PUB: 06/30/2020 11:10 PM/DISC: 06/30/2020 11:10 PM

Copyright Business Wire 2020.

(0) comments

Welcome to the discussion.

Please be civil. Don't threaten others. Don't make obscene, vulgar, lewd, racist, sexist or otherwise demeaning statements. Be respectful of others even if you disagree with them.
Please be truthful. Don't knowingly lie about anyone or anything.
Please be proactive. Report abusive posts.
Please share updates or more information. We value your input and opinion.
PLEASE TURN OFF YOUR CAPS LOCK. Thank you!