The hand dryers market consists of sales of hand dryers and related services. Hand dryers are cost-effective, energy-efficient and eco-friendly devices that are extensively adopted in restaurants, hotels, offices, and malls as a replacement to towel.
The global hand dryers market is expected to decline from $0.88 billion in 2019 to $0.79 billion in 2020 at a compound annual growth rate (CAGR) of -9.76%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $1.15 billion in 2023 at CAGR of 13.49%.