The global coin-operated laundry machines market is anticipated to grow at a considerable CAGR 3% during the forecast period (2022-2028). The increasing application of coin-operated laundry machines in school apartments owing to the increasing number of students attending schools is driving the growth of the market. According to the data published by National Center for Education Statistics (NCES), in 2020 approximately 49.4 students attended public schools from prekindergarten to grade 12, including upgraded students. Out of 49.4 million public school students, 1.2 million attended prekindergarten, 3.4 million attended kindergarten, 34.1 million attended pre-kindergarten to grade 8, and 15.3 million attended graded 9 to 12. Moreover, in 2019-2020, nearly 4.7 million students attended private schools.
In addition, nearly 3.7 million students are estimated to have graduated from high school in 2019, including 3.3 million students from public schools and 0.4 million students from private schools. Thus, the increasing number of students attending schools and other educational institutions is anticipated to fuel the demand for the global writing instruments market. The increasing number of educational institutions is anticipated to drive the growth of the market. According to data published by India Brand Equity Foundation (IBEF) in 2022, the number of colleges reached 42,343 in 2020. Further, in 2021 -2022, there are 8,997 total AICTE-approved institutes in India. Out of these, there are 3,627 undergraduate, 4,790 postgraduate, and 3,994 diploma institutes. Thus, the increasing number of students coupled with a growing number of educational institutions are anticipated to fuel the demand for the global coin-operated laundry machines market.
The rise in the number of hotels coupled with the increasing number of travelers is anticipated to drive the growth of the global coin-operated laundry machines market. According to the data published by India Brand Equity Foundation (IBEF) 2022, the foreign tourist arrivals in India had stood at 10.93 million in 2019. Between January 2021 and April 2021, the foreign tourist arrivals accounted for 376,083. Further, by 2028, international tourist arrivals are projected to reach 30.5 billion and generate revenue of over $59 billion. In addition, international hotel chains are surging their presence in the country and are anticipated to account for 47.0% share in the tourism and hospitality sector in India by 2020 and 50.0% by 2022. Moreover, the Indian hotel market including domestic inbound and outbound is estimated at $32 billion in 2020 and is projected to reach $52 billion by 2027, driven by surging demand from travelers.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Girbau Group, Alliance Laundry Systems, and Whirlpool among others
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Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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Global Coin-Operated Laundry Machines Market Report by Segment
By Type
- Coin Operated Washers
- Coin Operated Dryers
By Application
- Hotel
- Laundry Home
- Hospital
- School Apartments
- Others
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