How Is The Global Commercial Laundry Market Defined?
Commercial laundry refers to specialized facilities or businesses that provide laundry services on a larger scale, primarily serving businesses and institutions rather than individual consumers. These facilities are equipped with industrial-grade washing, drying, and ironing equipment capable of handling significant volumes of laundry.
Commercial Laundry Global Market Report 2024 provides data on the global commercial laundry market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The commercial laundry market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Are The Global Commercial Laundry Market Size And Growth Rates Projected To Evolve?
The commercial laundry market grew from $1.37 billion in 2023 to $1.43 billion in 2024 at a CAGR of 4.7%, driven by automated machines, urban growth, hygiene awareness, and consumerism. Expected to reach $1.75 billion by 2028 at a CAGR of 5.1%, growth will be fueled by rising medical linen demand, hotel chain expansion, and increasing tourism. Key trends include IoT, AI-powered stain removal, self-service kiosks, and garment sorting advancements.
What Are The Essential Drivers Behind The Growth Of The Commercial Laundry Market?
The growth in construction activities is expected to spur the growth of the commercial laundry market. Construction activities involve building and infrastructure development, driven by urbanization, economic growth, and the demand for efficient project management. Commercial laundry services are vital to construction projects, ensuring cleanliness, safety, and operational efficiency. According to the U.S. Census Bureau, the value of construction activities increased from $1,626.4 billion in 2021 to $1,792.9 billion in 2022. Thus, the increase in construction activities is driving the commercial laundry market.
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How Is The Global Commercial Laundry Market Divided Into Key Segments?
The commercial laundry market covered in this report is segmented –
1) By Type: Commercial Washer, Commercial Dryer, Commercial Dry Cleaning Equipment, Pressing Machines, Finishing Equipment, Other Types
2) By Distribution Channel: Hypermarkets And Supermarkets, Retail Stores, Online Stores, Other Distribution Channels
3) By Application: Hospitality, Healthcare, Educational Institutions, Industrial, Retail Laundry Services, Other Applications
What Trends Are Reshaping The Future Of The Commercial Laundry Market?
Top companies in the commercial laundry market are leveraging artificial intelligence (AI) to develop advanced washers, improving resource efficiency and user convenience. AI-powered washers use machine learning to optimize washing cycles based on fabric type, load size, and soil levels. For instance, in January 2021, LG Electronics, a South Korean electronics giant, introduced the LG ThinQTM front-load washing machine. It features an AI Direct Drive motor that adjusts water levels, detergent usage, and cycle duration for effective cleaning while conserving energy and water.
What Is The Fastest Growing Region In The Commercial Laundry Market?
North America was the largest region in the commercial laundry market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the commercial laundry market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
