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The laundry folding machine market is projected to grow by USD 2.39 billion with a CAGR of 8.51% during the forecast period 2021 to 2026.
This laundry folding machine market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the laundry folding machine market segmentation by end-user (apparel manufacturers, industrial launderers, hotels, hospitals, and others), type (automatic, semi-automatic, and manual folding machine), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The laundry folding machine market report also offers information on several market vendors, including Consolidated Laundry LLC, Herbert Kannegiesser GmbH, Ramsons Garment Finishing Equipment Pvt. Ltd., Sara Equipments, Shanghai Jinyi Washing Equipment Manufacturing Co. Ltd, and Sunrise Garment Machinery Pvt. Ltd. among others.
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The social factors driving the adoption of laundry folding machines are notably driving the laundry folding machine market growth, although factors such as the inability of machines to fold clothes of extreme sizes may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic's impact on the laundry folding machine industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Laundry Folding Machine Market Driver
The social factors driving the adoption of laundry folding machines are one of the key factors driving the laundry folding machine market's growth. The increase in the aging population is driving the growth of the market. By 2050, in countries such as Japan, Italy, Germany, and Singapore, more than 35% of the population will be above the age of 65 years. Japan is an early adopter of automated solutions such as laundry folding machines due to its aging population, and it is expected that the old-age dependency ratio will be more than 50% by 2050. Thus, all these social factors will drive the adoption of laundry folding machines during the forecast period.
Key Laundry Folding Machine Market Trend
The integration of IoT in laundry folding machines is one of the key laundry folding machine market trends contributing to the market growth. Currently, IoT has already been commercialized in various applications and is simplifying connectivity techniques. Interoperability and data readability issues have found better solutions with the advent of IoT. Laundry folding machines are also equipped with this technology to provide better control to users and allow a smooth workflow. Vendors in the market in focus are focused on collaborating with companies offering these technologies. Such collaborations will contribute to market growth in the near future.
Key Laundry Folding Machine Market Challenge
The inability of machines to fold clothes of extreme sizes is one of the factors hindering the laundry folding machine market growth. The inclusion of technologies such as artificial intelligence (AI) and image processing and the capability of robots to undertake tasks effectively have largely increased. Using sensors, laundry folding machines can fold regular-sized clothes efficiently. However, these machines face a challenge in folding clothes of extreme sizes, such as small handkerchiefs and large bedsheets or curtains. This drawback in laundry folding machines is a major hindrance to the market growth and the acceptance of laundry folding machines in the commercial sector.
This laundry folding machine market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global laundry folding machine market as a part of the global industrial machinery market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the laundry folding machine market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the laundry folding machine market encompasses successful business strategies deployed by the key vendors. The laundry folding machine market is concentrated, and the vendors are deploying growth strategies such as investing in R&D to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The report laundry folding machine market contains comprehensive market knowledge and an in-depth vendor landscape added on to an analysis of the key vendors.
Our report provides extensive information on the value chain analysis for the laundry folding machine market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
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34% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for the laundry folding machine market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Increasing adoption of automated solutions will facilitate the laundry folding machine market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID-19 Impact and Recovery Analysis
In 2020, the outbreak of COVID-19 severely affected the regional market. However, lockdowns were removed in the second half of 2020, owing to the initiation of large-scale vaccination drives in APAC. This, in turn, is expected to fuel the growth of the market in APAC during the forecast period.
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The laundry folding machine market share growth by the apparel manufacturers segment will be significant during the forecast period. Apparel manufacturers are the major end-users of laundry folding machines. The increasing use of automation in the apparel industry plays an important role in enhancing the growth of the global laundry folding machine market. Moreover, apparel manufacturers produce and supply garments in bulk to retailers or to wholesale suppliers. Laundry folding machines are mainly used by apparel manufacturers for folding fabrics, textiles, and clothes. These factors will boost segment growth in the near future.
This report provides an accurate prediction of the contribution of all the segments to the growth of the laundry folding machine market size and actionable market insights on the post-COVID-19 impact on each segment.
Laundry Folding Machine Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.51% |
Market growth 2022-2026 |
$2.39 billion |
Market structure |
Concentrated |
YoY growth (%) |
5.25 |
Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
Performing market contribution |
APAC at 34% |
Key consumer countries |
US, Canada, China, Japan, Germany, and France |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
Consolidated Laundry LLC, Herbert Kannegiesser GmbH, Ramsons Garment Finishing Equipment Pvt. Ltd., Sara Equipments, Shanghai Jinyi Washing Equipment Manufacturing Co. Ltd, and Sunrise Garment Machinery Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by End-user
6 Market Segmentation by Type
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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