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

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.