PORTLAND, Ore., Oct. 1, 2020
- Technological advancements and innovations in the manufacturing process and improved hygiene infrastructure at public places and homes drive the growth of the global hand wash station market.
PORTLAND, Ore., Oct. 1, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Hand Wash Station Market by Type (Single Sink and Multiple Sinks), Portability (Permanent and Portable), Material (Ceramics, Alloy, and Others) and End User (Community and Commercial): Global Opportunity Analysis and Industry Forecast, 2021–2027." According to the report, the global hand wash station industry generated $919.4 million in 2019, and is projected to reach $1.48 billion by 2027, witnessing a CAGR of 4.4% from 2021 to 2027.
Prime determinants of growth
Technological advancements and innovations in the manufacturing process and improved hygiene infrastructure at public places and homes drive the growth of the global hand wash station market. However, expensive nature and advent of counterfeit brands hinder the market growth. On the other hand, aggressive promotion on social media channels and strategies such as product launch and business expansion present new opportunities in the coming years.
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The single sink segment to maintain its lead position throughout the forecast period
Based on type, the single sink segment contributed to the highest market share in 2019, holding nearly two-thirds of the global hand wash station market, and is projected to maintain its lead position throughout the forecast period. This is due to its characteristics such as ease in installation and low cost along with outbreaks of respiratory infection-based diseases such as Covid-19 and H1N1. However, the multiple sink segment is projected to portray the highest CAGR of 5.1% from 2021 to 2027, owing to rapidly scaling up solutions for hand hygiene and minimization in risks of transmission.
The permanent segment to maintain its dominant share during the forecast period
Based on portability, the permanent segment accounted for around three-fourths of the global hand wash station market in 2019, and is expected to maintain its dominant share during the forecast period. This is due to increase in construction activities in developing nations, rise in concerns related to health & hygiene, and availability of raw materials in abundance. However, the portable segment is expected to witness the highest CAGR of 5.6% from 2021 to 2027, owing to less space needed to install and innovations in product designs.
North America to grow at the highest rate
Based on region, North America is expected to witness the largest CAGR of 5.9% from 2021 to 2027. This is attributed to improved lifestyle, rise in purchasing power, increase in health consciousness, and awareness of benefits provided by hand wash station products. However, Asia-Pacific contributed to the highest market share, accounting for more than one-third of the global hand wash station market in 2019, and is expected to continue to lead by 2027. This is due to rise in consumer awareness regarding airborne health infections along with increase in government initiatives.
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Major market players
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