Commercial Laundry Market Size, Share, Growth Analysis, By Product(Washers & Dryers, Dry Cleaners, Commercial Laundry Storages, Others), By Application(Hospitals, Hotels & Restaurants, Laundry Stores, Others), By Distribution Channel(Hypermarkets & Supermarkets, Specialty Stores, Online Stores, Other), By Region - Industry Forecast 2024-2031

North America is predicted to have the greatest share of the global 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.

A stronger need for commercial laundry systems is also indicated by the region's significant washing machine imports, which are projected to support the market's expansion. According to data by the Observatory of Economic Complexity (OEC), the worldwide trade of washing machines as of 2020 was $648 million. The United States stood as the largest importer with an import value of $92.1 million.

The Asia Pacific area is predicted to expand at a quicker rate due to the high rate of hotel and restaurant chain penetration in nations like Japan, India, and Australia, which further drives the need for laundry cleaning goods. The expanding spa & salon sector is propelling the demand for laundry accessories for washing up towels & napkins products. As per the Asia-Pacific Wellness Economy Monitor by Global Wellness Institute, Asia has the most spas (48,679) and the largest spa market ($26.5 billion). With about 26K businesses currently producing $31.6 billion, it is by far the largest thermal/mineral springs market in the entire globe in 2018.

Europe is estimated to have tremendous growth during the forecasted period. The growth is linked to rising disposable income and an expanding labor force. During the projected period, it is anticipated that the region's Commercial Laundry Market will continue to be strongly supported by the existence of various dry-cleaning and laundry service providers offering a wide range of services, including washing, folding, and ironing, as well as pick-up and drop-off services.

Due to rising investment in hotel operations in Germany, the U.K., and Spain, the European hospitality sector is expanding at a remarkable rate. The hotel sector's expansion is being aided by the tourism sector's ongoing expansion. This will probably increase demand for commercial laundry and dry-cleaning services in Europe.