USD 30.69 billion
Coin-Operated Laundries Market Size, Share, Growth Analysis, By Type(Self-Service Laundry, and Full-Service Laundry), By Application(Residential and Commercial), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25AD2002 |
Region:
Global |
Published Date: April, 2024
Pages:
223
|Tables:
60
|Figures:
75
Coin-Operated Laundries Market Insights
Global Coin-Operated Laundries Market size was valued at USD 30.69 billion in 2022 and is poised to grow from USD 33.51 billion in 2023 to USD 67.76 billion by 2031, growing at a CAGR of 9.2% during the forecast period (2024-2031).
Laundry has become a daunting task, especially for the working-class population due to time constraints caused by increasing work pressure and long hours. Consequently, the demand for coin-operated laundries has risen due to their convenience. The market growth is mainly driven by the increasing number of working women globally. According to the World Bank, the female labor force has significantly increased since 2012, accounting for 39.1% of the total labor force in 2017. This trend is likely to fuel the market growth of coin-operated laundries.
Millennials, college graduates, working professionals, and institutions such as boarding schools, colleges, and hostels are some of the potential customers for online laundry services. In developing countries like India and South Africa, laundry services are primarily catered to by the unorganized sector. However, as the standard of living and disposable income rises, the demand for laundry services is expected to increase. Additionally, the market for online laundry services is growing with increasing internet penetration in developing countries like India and China.
As the standard of living improves worldwide, the younger generation and working-class are becoming more health-conscious and selective about their apparel, household linen, and furniture. This trend has increased spending on clothes, leading to an upsurge in demand for laundry services. Coin-operated laundries have become a popular choice among the young population, millennials, and working-class due to their round-the-clock service, doorstep pickup and delivery, and complete service within 24 hours. Service providers also offer discounts, especially during the first service, further increasing adoption.
US Coin-Operated Laundries Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Self-Service Laundry
Fastest Growth
Full-Service Laundry
Growth Rate
9.2% CAGR
Global Coin-Operated Laundries Market ($ Bn)
Country Share for North America Region (%)
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Coin-Operated Laundries Market Segmental Analysis
coin-operated laundries market is segmented by type, application, and region. Based on type, the Coin-Operated Laundries Market is segmented into self-service laundry, and full-service laundry. In terms of application, the Coin-Operated Laundries Market is categorized into residential, and commercial. Geographically, the Coin-Operated Laundries Market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Coin-Operated Laundries Market Analysis by Type
In terms of classification by type, the market can be segmented into self-service laundry, and full-service laundry. The self-service laundry segment dominates the coin-operated laundry market due to its popularity among individual users who prefer to wash their clothes on their own. This segment is expected to continue dominating the market in the coming years due to its affordability and convenience for individual users.
However, the full-service laundry segment is projected to register the fastest growth rate during the forecast period. This is due to the increasing demand for laundry services among commercial users such as hotels, hospitals, and businesses that require professional laundry services for their linens, uniforms, and other laundry items. This segment is expected to be the fastest growing in the coin-operated laundries market in the coming years.
Coin-Operated Laundries Market Analysis by Application
Based on classification by application, the market is segmented into residential and commercial. The residential segment currently dominates the coin-operated laundries market due to the high demand for self-service laundromats among individuals who prefer to wash and dry their personal clothes on their own. This segment is expected to continue dominating the market in the coming years, driven by factors such as urbanization, changing lifestyles, and increasing disposable incomes.
However, the commercial segment is anticipated to register the fastest growing rate due to the increasing demand for professional laundry services among businesses such as hotels, hospitals, and other commercial establishments that require clean and hygienic linens, towels, and other laundry items. This segment is expected to be the fastest growing in the coin-operated laundries market in the coming years.
Global Coin-Operated Laundries Market Size By Type
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Coin-Operated Laundries Market Regional Insights
North America is currently the dominating region in the coin-operated laundry market, with the United States being the largest market in the region. The presence of major market players, coupled with high awareness of coin-operated laundry services, has led to the growth of this market. Additionally, there has been a rise in the number of double-income households and a shift towards apartment living, which has further propelled the demand for coin-operated laundry services in the region.
On the other hand, Asia Pacific is the fastest-growing region in the coin-operated laundry market. The region is witnessing significant growth due to increasing disposable income, rising urbanization, and a surge in the number of working women. Countries like China and India are driving the growth of this market due to their large populations and rising middle class. Furthermore, the increasing penetration of the internet and the availability of online laundry services have further boosted the market growth in the region.
Global Coin-Operated Laundries Market By Region
- Largest
- Fastest
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Coin-Operated Laundries Market Dynamics
Coin-Operated Laundries Market Driver
Increasing Number of Working Women
- One major driver of the coin-operated laundry market is the increasing number of working women worldwide. With the female labor force substantially increasing since 2012, women have less time to do their laundry, and thus, there is a higher demand for coin-operated laundry services. Additionally, the rise of double-income households has led to an increase in spending on clothes, which in turn, has raised the demand for laundry services. This trend is expected to continue in the forecast period, fueling the growth of the coin-operated laundry market.
Coin-Operated Laundries Market Restraint
High Initial Investment Cost
- One major restraint of the coin-operated laundry market is the high initial investment cost for setting up a laundry business. The cost of purchasing and installing laundry machines, rent for the space, and additional expenses such as electricity, maintenance, and labor costs can be significant. This makes it challenging for new players to enter the market, particularly in developing countries where there is less access to funding. Furthermore, the competition among existing players is high, making it challenging for new entrants to gain a foothold in the market.
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Coin-Operated Laundries Market Competitive Landscape
The coin-operated laundry market is highly competitive in nature owing to the presence of several players competing for top position. The market players offer a range of services, including coin-operated laundry services, online laundry services, and laundry pick-up and delivery services. They compete on the basis of price, service quality, and convenience. The market players also invest heavily in research and development to offer innovative solutions and improve their customer experience. The market players range from small-scale businesses to large corporations, and new players are entering the market, further intensifying the competition.
Coin-Operated Laundries Market Top Player’s Company Profiles
- Alliance Laundry Systems LLC (US)
- Whirlpool Corporation (US)
- Electrolux AB (Sweden)
- LG Electronics Inc. (South Korea)
- The Procter & Gamble Company (US)
- The Clorox Company (US)
- The Unilever Group (Netherlands)
- Henkel AG & Co. KGaA (Germany)
- Reckitt Benckiser Group plc (UK)
- Procter & Gamble Co. (US)
- Unilever Group (Netherlands)
- Church & Dwight Co., Inc. (US)
- Kao Corporation (Japan)
- Wisk Laundry Detergent (US)
- Tide Laundry Detergent (US)
- Persil (UK)
- Gain Laundry Detergent (US)
- Ariel (UK)
- Woolite (US)
- Seventh Generation, Inc. (US)
Coin-Operated Laundries Market Recent Developments
- In March 2024, Cents, a platform for business management and in-store operations in the laundromat industry, has partnered with Laundroworks, a provider of loyalty card payment systems for laundromats and shared laundry rooms in multi-family settings.
- In December 2023, Laundry Capital, a New York-based company comprising the Laundromax and Clean Rite laundromat brands, announced the opening of the first Laundromax location in Texas to the public today.
- In July 2023, PayRange Inc., known for its mobile payment solutions for unattended retail, including laundromats, announced an exclusive partnership agreement with Turnsapp Inc., a provider of software solutions for laundromats and dry cleaning services.
Coin-Operated Laundries Key Market Trends
- One key market trend in the coin-operated laundry industry is the adoption of technology to improve the customer experience. Many laundry service providers are investing in technology such as mobile apps, online booking systems, and automated machines to enhance their services. Additionally, the use of smart machines equipped with internet connectivity, sensors, and artificial intelligence is gaining popularity, enabling customers to monitor their laundry remotely and receive alerts when their laundry is ready for pick-up. The integration of technology is expected to continue to drive the growth of the coin-operated laundry market in the coming years.
Coin-Operated Laundries Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The coin-operated laundry market has been growing steadily due to the increasing demand for convenient laundry services, especially among the working population. With the rise in the number of working women and double-income households, the market has witnessed a surge in demand for laundry services. The adoption of technology and innovation in the laundry industry is also driving the growth of the market. However, the high initial investment cost of setting up a coin-operated laundry and the availability of alternative laundry services remain major restraints. The market is highly competitive, with several players competing on the basis of price, service quality, and convenience.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 30.69 billion |
| Market size value in 2031 | USD 67.76 billion |
| Growth Rate | 9.2% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Coin-Operated Laundries Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Coin-Operated Laundries Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Coin-Operated Laundries Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Coin-Operated Laundries Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Coin-Operated Laundries Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Coin-Operated Laundries Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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