What is the global market size of U.S. Laundry Facilities Dry Cleaning Services Market ?

US Laundry Facilities Dry Cleaning Services Market size was valued at USD 10.82 billion in 2021 and is poised to grow from USD 11.31 billion in 2022 to USD 15.48 billion by 2030, growing at a CAGR of 4.5% in the forecast period (2023-2030).

Who are the key vendors in the U.S. Laundry Facilities Dry Cleaning Services Market ?

Major market players or manufacturers of the U.S. Laundry Facilities Dry Cleaning Services Market give various strategies to expand their operations and increase their profits. To strengthen their position in the global U.S. Laundry Facilities Dry Cleaning Services Market , they use strategies such as acquisitions, joint ventures, collaborations, mergers and new product launches. 'Agilent Technologies Inc.', 'Thermo Fisher Scientific Inc.', 'Danaher Corporation', 'PerkinElmer Inc.', 'Bruker Corporation', 'Waters Corporation', 'Shimadzu Corporation', 'Merck KGaA', 'GE Healthcare', 'bioMérieux SA', 'Hitachi High-Technologies Corporation', 'Bio-Rad Laboratories Inc.', 'Olympus Corporation', 'Beckman Coulter Inc.', 'Eppendorf AG', 'Illumina Inc.', 'Qiagen N.V.', 'Becton, Dickinson and Company', 'Hologic Inc.', 'Sartorius AG', 'On August 1, 2022, Thermo Fisher Scientific, Inc., a global leader in scientific services, introduced the Thermo Scientific Arctis Cryo-Plasma Focused Ion Beam (Cryo-PFIB), a new network and automated microscope designed to accelerate cryo-electron tomography (Cryo-ET) research'.

What is the key driver of U.S. Laundry Facilities Dry Cleaning Services Market ?

Industries such as biotechnology and pharmaceuticals are investing significantly on R&D. It is used to accelerate the need for drug development and innovative commercialization of drug molecules for the treatment of rare diseases. According to the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA), the pharmaceutical industry spends more than US$ 150 Bn annually on research and development. More than 7,000 new compounds were developed, while 56 new drugs were introduced. Rapid and efficient life science tools are essential to accelerate the drug development process. Increasing R&D in drug development for conditions such as cardiovascular diseases, neurological disorders, cancer, and infectious diseases is expected to drive the global U.S. Laundry Facilities Dry Cleaning Services Market .

What is the key market trend for U.S. Laundry Facilities Dry Cleaning Services Market ?

Chromatography used in analytical chemistry, because of its ability to offer excellent features, like accurate separation capabilities, reproducibility, and quicker separation. A major trend in the market is the use of chromatography methods in many pharmaceutical applications, such as the quantification of chemicals in drugs. Increasing use of chromatography tests in drug approval and increasing support in the form of funding from the government are considered to contribute to the growth of the market during the forecast period.

Which region accounted for the largest share in U.S. Laundry Facilities Dry Cleaning Services Market ?

On the basis of region, global U.S. Laundry Facilities Dry Cleaning Services Market is divided into North America, Europe, Asia-Pacific, Latin America, and MEA. North America accounted as the largest market for the global market with a share of nearly 38% of the market revenue in 2022. Increasing investment in research and development in the pharmaceutical industry will provide opportunities for key players in the sector. Increased regulatory analysis on the safety, quality and security of consumer products will also increase the adoption of testing and analytical tools by the food and beverage industry.

What is the global market size of U.S. Laundry Facilities Dry Cleaning Services Market ?

US Laundry Facilities Dry Cleaning Services Market size was valued at USD 10.82 billion in 2021 and is poised to grow from USD 11.31 billion in 2022 to USD 15.48 billion by 2030, growing at a CAGR of 4.5% in the forecast period (2023-2030).

Who are the key vendors in the Global U.S. Laundry Facilities Dry Cleaning Services Market ?

Major market players or manufacturers of the U.S. Laundry Facilities Dry Cleaning Services Market give various strategies to expand their operations and increase their profits. To strengthen their position in the global U.S. Laundry Facilities Dry Cleaning Services Market , they use strategies such as acquisitions, joint ventures, collaborations, mergers and new product launches. 'Agilent Technologies Inc.', 'Thermo Fisher Scientific Inc.', 'Danaher Corporation', 'PerkinElmer Inc.', 'Bruker Corporation', 'Waters Corporation', 'Shimadzu Corporation', 'Merck KGaA', 'GE Healthcare', 'bioMérieux SA', 'Hitachi High-Technologies Corporation', 'Bio-Rad Laboratories Inc.', 'Olympus Corporation', 'Beckman Coulter Inc.', 'Eppendorf AG', 'Illumina Inc.', 'Qiagen N.V.', 'Becton, Dickinson and Company', 'Hologic Inc.', 'Sartorius AG', 'On August 1, 2022, Thermo Fisher Scientific, Inc., a global leader in scientific services, introduced the Thermo Scientific Arctis Cryo-Plasma Focused Ion Beam (Cryo-PFIB), a new network and automated microscope designed to accelerate cryo-electron tomography (Cryo-ET) research'.

What is the key driver of Global U.S. Laundry Facilities Dry Cleaning Services Market ?

Industries such as biotechnology and pharmaceuticals are investing significantly on R&D. It is used to accelerate the need for drug development and innovative commercialization of drug molecules for the treatment of rare diseases. According to the International Federation of Pharmaceutical Manufacturers and Associations (IFPMA), the pharmaceutical industry spends more than US$ 150 Bn annually on research and development. More than 7,000 new compounds were developed, while 56 new drugs were introduced. Rapid and efficient life science tools are essential to accelerate the drug development process. Increasing R&D in drug development for conditions such as cardiovascular diseases, neurological disorders, cancer, and infectious diseases is expected to drive the global U.S. Laundry Facilities Dry Cleaning Services Market .

What is the key market trend for Global U.S. Laundry Facilities Dry Cleaning Services Market ?

Chromatography used in analytical chemistry, because of its ability to offer excellent features, like accurate separation capabilities, reproducibility, and quicker separation. A major trend in the market is the use of chromatography methods in many pharmaceutical applications, such as the quantification of chemicals in drugs. Increasing use of chromatography tests in drug approval and increasing support in the form of funding from the government are considered to contribute to the growth of the market during the forecast period.

Which region accounted for the largest share in Global U.S. Laundry Facilities Dry Cleaning Services Market ?

On the basis of region, global U.S. Laundry Facilities Dry Cleaning Services Market is divided into North America, Europe, Asia-Pacific, Latin America, and MEA. North America accounted as the largest market for the global market with a share of nearly 38% of the market revenue in 2022. Increasing investment in research and development in the pharmaceutical industry will provide opportunities for key players in the sector. Increased regulatory analysis on the safety, quality and security of consumer products will also increase the adoption of testing and analytical tools by the food and beverage industry.

U.S. Laundry Facilities Dry Cleaning Services Market Size, Share, Growth Analysis, By Form(Powder, Liquid, Other (sheet, pod)), By Type(Coin-operated, Retail Laundry/Dry Clean Services, Corporate/Industrial Laundry Services), By Application(Residential, Commercial, Industrial segment), By Region - Industry Forecast 2024-2031

Report ID: SQMIC25S2054 | Region: Country | Published Date: April, 2024
Pages: 157 | Tables: 91 | Figures: 76

U.S. Laundry Facilities Dry Cleaning Services Market Dynamics

US Laundry Facilities Dry Cleaning Services Market Driver

Technological advancements in the laundry industry, as well as the rise in urbanization, are expected to drive the growth of the US laundry facilities dry cleaning services market during the forecast period. Furthermore, growing popularity of cashless payment for coin-based laundry is expected to propel the dry-cleaning and laundry services market forward. Furthermore, the integration of smart meters and rising consumer adoption of dry-cleaning and laundry services as they provide convenience at a reasonable price are expected to drive growth of the US laundry facilities dry cleaning services market.

US Laundry Facilities Dry Cleaning Services Market Restraint

The logistics of an LDC (Laundry and Dry-Cleaning) business are quite different from that of a regular food delivery company or an e-commerce company. In this industry, the delivery executive must return to the customer's location twice for the same order. He must go to the customer's location for pickup and return the garments to the processing center. He should deliver the garments back to the customer once they have been processed. For a single order, the delivery executive must effectively visit the customer's location twice. If the customer wants to rewash the clothes, the logistics become even more complicated.

U.S. Laundry Facilities Dry Cleaning Services Market Report Snapshots

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US Laundry Facilities Dry Cleaning Services Market size was valued at USD 10.82 billion in 2019 and is poised to grow from USD 11.31 billion in 2023 to USD 15.48 billion by 2031, growing at a CAGR of 4.5% in the forecast period (2024-2031).

The market is highly fragmented and competitive owing to the presence of a large number of unorganized players. The major corporations are actively channeling their efforts and pursuing growth strategies such as product innovation, online platform expansion, and others. A moderate level of capital investment is required to start a business. 'The Clorox Company', 'Ecolab Inc.', 'Procter & Gamble Co.', 'Unilever PLC', 'Henkel AG & Co. KGaA', 'Cintas Corporation', 'Aramark Corporation', 'Alliance Laundry Systems LLC', 'Dexter Laundry, Inc.', 'Continental Girbau Inc.', 'Whirlpool Corporation', 'Maytag Corporation', 'Electrolux AB', 'LG Electronics Inc.', 'Samsung Electronics Co. Ltd.', 'WASH Multifamily Laundry Systems LLC', 'Coinmach Corporation', 'CSC ServiceWorks Inc.', 'FMB Laundry, Inc.', 'Laundrylux Inc.'

Technological advancements in the laundry industry, as well as the rise in urbanization, are expected to drive the growth of the US laundry facilities dry cleaning services market during the forecast period. Furthermore, growing popularity of cashless payment for coin-based laundry is expected to propel the dry-cleaning and laundry services market forward. Furthermore, the integration of smart meters and rising consumer adoption of dry-cleaning and laundry services as they provide convenience at a reasonable price are expected to drive growth of the US laundry facilities dry cleaning services market.

Use of cashless self-service laundries or coin-operated laundries and drycleaner machines is growing across the world. This growth is primarily due to emergence of cards and other alternative electronic payment methods such as RFID contactless credit cards, or NFC enabled mobile wallets that provide a cost-effective alternative to handle cash and are also easy to use. Apart from this, cashless laundry machines also provide relief from painstaking cash management in laundries, and secure solutions over cash operated machines, which have to be carefully monitored for thefts.

The United States is the largest market for dry cleaning and laundry services. Rising internet penetration, increased smartphone use, and the introduction of mobile apps are expected to drive demand for online laundry services in the United States. Furthermore, the laundry facilities dry cleaning services market will benefit from the introduction of smart laundry technologies, which have the ability to increase the efficiency of laundry operations while lowering customer laundry service costs. In the coming years, the market will benefit from the hospitality sector's steady growth, increased franchising opportunities, and technological advancements. Growing female working population and the cost-effectiveness of laundry services are driving market growth in the United States.

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U.S. Laundry Facilities Dry Cleaning Services Market Dynamics

U.S. Laundry Facilities Dry Cleaning Services Market Report Snapshots

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What is the market size of U.S. Laundry Facilities Dry Cleaning Services Market?

Who are the key vendors in the U.S. Laundry Facilities Dry Cleaning Services Market?

What is the key driver of U.S. Laundry Facilities Dry Cleaning Services Market?

What is the key market trend for U.S. Laundry Facilities Dry Cleaning Services Market?

Which region accounted for the largest share in U.S. Laundry Facilities Dry Cleaning Services Market?

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