COMMERCIAL LAUNDRY EQUIPMENT MARKET ANALYSIS

Regional Analysis

Global Commercial Laundry Equipment Market: Regional Insights

On the basis of region, the global commercial laundry equipment market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Furthermore, in terms of revenue in 2018, North America held the largest market share for commercial laundry equipment market, The U.S. was the leading market in the North America in 2018. The growth in the U.S. was mainly attributed to increasing multi-housing projects. For instance, according to the U.S. Department of Housing and Urban Development, in 2018, the number of residential projects was 1.26 million units in the U.S., which increased by over 3% from 2017. Commercial laundry machines are deployed in multi-housing projects that include apartments, residential societies, condominiums, universities, and dorms. Hence, the rising number of multi-housing projects is expected to propel demand of the commercial laundry equipment in these projects over the forecast period.

Furthermore, Asia Pacific is expected to witness significant growth over the forecast period in the global commercial equipment market, owing to the rising disposable income and increasing popularity of laundromat in the emerging economies such as China and India. For instance, according to the National Bureau of Statistics (NBS), in 2018, China's per capita disposable income was valued at US$ 4,165, which increased by 6.5% from the previous year.