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Coin-operated Laundries Market Estimated to Value $30.1 Billion By 2027 | Grand View Research, Inc

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Coin-operated Laundries Market Estimated to Value $30.1 Billion By 2027 | Grand View Research, Inc

December 17
12:08 2020
Coin-operated Laundries Market Estimated to Value $30.1 Billion By 2027 | Grand View Research, Inc

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, the global coin-operated laundries market size was valued at USD 14.6 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 9.4% from 2020 to 2027.

The global coin-operated laundries market size is anticipated to reach USD 30.1 billion by 2027, expanding at a CAGR of 9.4%, according to a new report by Grand View Research, Inc. The increasing economic stability of middle-class consumers in emerging markets is driving the demand for clothes, which has spurred demand for coin-operated laundries.

Additionally, increasing population and rising tourism activities are the key factors driving demand for coin-operated laundries in the hospitality sector. The increasing number of hotels, hospitals, restaurants, and other commercial setups has led to a rise in the demand for coin-operated laundries, which, in turn, is anticipated to boost the market in the commercial sector.

Clean laundry is essential for a healthy and hygienic lifestyle. Washing dirty daily use clothes and other laundry items require an adequate amount of clean water, detergents, and soaps, washing appliances, as well as a proper washing area. Instead of spending on expensive appliances and other related products, millennials and working-class populations are adopting the laundry machines, which offer convenience and flexibility and save time.

These advanced laundry machines are available round the clock, making laundry more convenient and easier for the young and working population. Consumers’ priority in laundry care is changing in developed as well as developing countries. Laundry care is necessary, however, it is time-consuming, owing to which consumers in the urban areas are shifting toward convenient and hygienic laundry services.

Hectic working schedules and time constrain for daily house chores are the key factors fueling demand for the laundry machines among working professionals. Moreover, an increasing number of working-class women in developing countries, such as India and China, is expected to contribute to market growth.

Increasing awareness about the importance of daily laundry care and personal hygiene is expected to favor market growth in the coming years. Moreover, an increase in the penetration of broadband internet smartphones has led to a significant increase in the popularity of coin-operated services, including laundry care. Additionally, the growth of tourism and hotel industries in the region is expected to boost the demand for the market over the forecast period.

Browse Details of Report, Please Visit @ https://www.grandviewresearch.com/industry-analysis/coin-operated-laundries-market

The U.S. coin-operated laundries market size, by application, 2016 - 2027 (USD Million)

Application Insights

In terms of revenue, residential application dominated the market for coin-operated laundries with a share of 79.8% in 2019. This high share is attributable to the increasing consumer preference for professional cleaning due to rising health concerns with regard to personal hygiene and cleanliness. In addition, the rise in nuclear families is an advantage for the global market as the number of family members is less, and availing online laundry services is economical than buying and using washing machines at home. An increasing percentage of the millennial population has started availing online laundry services owing to a rise in disposable income and convenience associated with the use of online services. This can be attributed to the rising costs of electricity, time constraints in the case of working couples, and the increasing trend of apartment-style living.

An increase in the number of hotels and hospitals is expected to provide growth opportunities to online laundry service providers over the forecast period. These service providers offer free pickup and doorstep delivery, which positively influences the market for coin-operated laundries. Doorstep delivery of clothes not only saves time but also the additional cost if any. Moreover, availing such services saves the cost required for the maintenance of the washing machine as well as reduces human efforts, thus driving the coin-operated laundries market over the forecast period.

Key Takeaways from the report:

  • The residential application segment dominated the market with a share of 80.3% in 2019.
  • North America dominated the market with a share of 45.3% in 2019.
  • Some of the major players operating in the market include Elis SA, Aramark, Cintas Corp., UniFirst Corp., Johnson Service Group, Franz Haniel & Cie. GmbH., Spotless Group Holdings Limited., Bel and Blanc, and Champion Cleaners.

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Global coin-operated laundries market share by region, 2019 (%)

Major Players:

  • Elis SA
  • Aramark
  • Cintas Corp.
  • UniFirst Corp.
  • Johnson Service Group
  •  Franz Haniel & Cie. GmbH.
  •  Spotless Group Holdings Limited.
  •  Bel & Blanc
  •  Champion Cleaners

Have Inquiry before buying about this report, our team of analyst will be glad to help!

Grand View Research has segmented the global coin-operated laundries market by application and region:

Coin-operated Laundries Application Outlook (Revenue, USD Million, 2016 – 2027)

  • Residential
  • Commercial

Coin-operated Laundries Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America
    • The U.S.
  • Europe
    • Germany
    • The U.K
  • Asia Pacific
    • China
    • India
  • Central & South America
    • Brazil
  • Middle East & Africa
    • South Africa

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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