The ‘Global Coin-operated Laundries Market Size, Share, Price, Trends, Growth, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global coin-operated laundries market, assessing the market on the basis of its segments like types, applications, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Coin-operated Laundries Market Size, Share, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Size (2022): Around USD 18.63 Billion
• Forecast CAGR (2023-2028): 9.30%
• Forecast Market Size (2028): Nearly USD 31.88 Billion
A major factor driving the global coin-operated laundries market is the increasing usage of laundromats in residential areas. A large share of consumers rely on the usage of professional services due to their busy lifestyles. An increasing number of nuclear families, professionals, and students prefer laundromats as an affordable, space-saving, and time-effective alternative to buying washing machines. Such services also reduce utility bills and provide individuals with the freedom to do laundry at their convenience.
The increasing construction of hotels and lodges is also expected to drive the global coin-operated laundries market. Many hotels offer on-site laundry service as a means to attract more tourists to their establishments. Some lodges also offer online laundry services and doorstep laundry pickup and delivery as an attractive amenity for guests. These facilities are extremely beneficial for the guests who are on a long vacation and require value-added services.
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Rapid urbanisation and growing population in developing economies also fuel the global coin-operated laundries market. Consumers in urban areas lead a busy life and barely have time to do chores on a daily basis. This drives the demand for professional laundry services. Moreover, self-service facility in laundromats offers the convenience of washing and drying large capacity of loads in a short duration. These establishments also provide doorstep delivery, flexible timings, and quality services to meet the hectic lifestyle of the working demographic.
The rise in disposable income is another factor that drives the global coin-operated laundries market growth. Consumers are willing to outsource menial tasks like cooking food or washing clothes to save time. This also propels market players to invest in highly advanced machines with added features to offer an enhanced cleaning experience. Some coin-operated laundries may also provide value-added services to attract new customers, further driving the market.
Coin-operated Laundries Industry Definition and Major Segments
Coin-operated laundry or self-service laundry is a facility where customers can wash and dry their clothes in the washers and dryers at their own convenience. It runs on coins and can be found as a simple laundry facility or a part of a bigger enterprise which offers dry cleaning services.
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On the basis of type, the market is classified into:
• Washers
• Dryers
On the basis of application, the market is categorised into:
• Hotel
• Laundry Home
• Hospital
• Apartments
Based on region, the market is divided into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Coin-operated Laundries Market Trends
A key trend propelling the growth of the global coin-operated laundries market is the growing need for energy efficient solutions worldwide. As conventional laundry machines rely on washers and dryers that consume large amounts of energy and water, the preference for innovative energy-efficient laundromats that can lower water and energy bills has increased. This has also prompted manufacturers to invest in energy-efficient machines and gain a competitive edge. Besides, energy-efficient laundromats use less water, have shorter drying times, and provide more efficiency in controlling the machine, boosting their appeal among environmentally friendly consumers.
Technological advancements in laundry machines aimed at providing more control to users are driving the global coin-operated laundries market. Added controls provide users with the flexibility to wash and dry clothes according to their preferences. Users can also customise the settings according to the fabric type and volume of load to maintain the quality of clothes. Furthermore, the development of laundromat machines that can schedule preventative repair and maintenance is expected to propel the market growth in the forecast period.
Another crucial trend that favours the market growth is the increasing implementation of coinless payment methods in the machine. The usage of credit or debit cards and digital payment applications removes the inconvenience of carrying exact change in coins and provides a seamless payment experience. It also provides added security while eliminating the risk of thefts and issues regarding coin storage. Furthermore, the payment method eases the tasks of operators as they do not have to keep track of coins and can better track the payments.
North America accounts for a significant share of the global coin-operated laundries market owing to the increasing preference for laundry services. Due to the busy lifestyles of working individuals, it is difficult for them to find time for doing laundry regularly, which boosts the preference for laundry machines. The increased number of students and individuals working far from home is another factor that drives the market growth. Moreover, the rising population in urban cities also positively influence the market demand in the coming years.
Key Market Players
The major players in the global coin-operated laundries market report are
• Halifax Laundry Co.
• Whirlpool Corporation
• Dexter Apache Holdings, Inc
• Haier Group
• Miele Limited
• Alliance Laundry Systems LLC
• LG Electronics
• Electrolux Professional AB
• Shanghai Swan Group Germany Co Ltd.
• Fagor Professional
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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