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Commercial Laundry Market size was valued at USD  1.40 billion in 2019 and is poised to grow from USD 1.45 billion in 2023 to USD 1.91 billion by 2031, at a CAGR of 3.4% during the forecast period (2024-2031).

The Commercial Laundry Market for commercial laundry machines is rather fragmented because there are a large number of unorganized players. To satisfy the rising demand, major players in the market are concentrating on product launches and technical advancements. Key firms are working hard to broaden their influence and solidify their positions in the market. Together, these businesses represent a very small portion of the Commercial Laundry Market share. For instance, Cleanly is increasing its customer base by providing doorstep pick-up and drop-off services. Cleanly, a company that offers dry cleaning and laundry services, has so far secured $2.3 million in startup funding, which has helped to improve what it has to offer. Additionally, Zipjet and Laundrapp announced their merger in June 2019, and the combined company will handle roughly 2 million items of laundry every year. 'Alliance Laundry Systems LLC (US)', 'The Huntington Company (US)', 'ZIPS Dry Cleaners (US)', 'Alsco Pty Limited (Australia)', 'Rinse, Inc. (US)', 'GE Appliances (US)', 'LG Electronics (South Korea)', 'Electrolux AB (Sweden)', 'ECOLAB (US)', 'Girbau North America Inc. (US)', 'Samsung Group (South Korea)', 'Stefab India Ltd. (India)', 'SEKO S.p.A. (Italy)'

Dry cleaning machines, washing machines, presses, and industrial dryers are all examples of laundry equipment. Resorts, hotels, and other establishments are increasingly using commercial laundry equipment. Additionally, private laundry service providers make use of this equipment. The hotel sector is growing as construction activity rises in emerging nations like China and Japan. Rising tourism in these nations is to blame for this. These elements are promoting the Commercial Laundry Market expansion for commercial laundry equipment.

The most recent generation of industrial laundry equipment is being developed in response to the expanding demands of laundry operators that place a high value on automation, the Internet of Things, and wireless connectivity. A growing trend toward automation is still present in the commercial laundry business. One major factor contributing to laundries' increased need for fully automated equipment could be the rising cost of labour. The integration of wireless networking into other electric and electronic products is becoming more common. IoT enables the internet-based connection of objects and people. The Internet of Things has throughout the years turned much ordinary equipment into smart ones, and washing machines are the newest to do so.

North America is predicted to have the greatest share of the Commercial Laundry Market due to the presence of several healthcare institutions in nations like the United States and Canada, which fuel the need for various laundry equipment for hospitals & clinics. According to a survey done by the American Hospital Association (AHA), there are 6,146 hospitals in the United States with 924,107 beds as of 2018.

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Global Commercial Laundry Market

Product ID: SQMIG20N2023