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Europe Coin-operated Laundries Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The Europe coin-operated laundries market was valued at USD 3.5 billion in 2021 and is projected to expand at a CAGR of 5.6% from 2022 to 2029. Coin-operated laundries are convenient and efficient, allowing customers to use them quickly and easily. These machines are also cost-effective, making them an attractive choice for customers. Furthermore, the increasing demand for convenience and the growing popularity of coin-operated laundries are expected to drive the market growth.
The rise in the number of working women, especially among younger generations, is leading to a rise in demand for coin-operated laundry machines. For instance, according to data from the European Commission, the employment rate of women in Europe increased from 54.9% in 2020 to 56.3% in 2021. This has led to an increase in demand for time-saving services such as coin-operated laundries. Furthermore, the growing trend of minimalism and the increasing focus on environmental sustainability are expected to drive the market.
The increasing adoption of connected laundry machines is expected to create lucrative opportunities for the market participants. Connected coin-operated laundries enable customers to access their machines remotely, check the status of their laundry, and receive notifications when their laundry is done. Additionally, these machines enable users to pay for their laundry using contactless payment methods, such as credit cards and mobile wallets. Furthermore, these machines offer users an enhanced customer experience, which is expected to drive their adoption.
The increasing number of residential buildings and hotels is expected to drive the demand for coin-operated laundries. For instance, according to Eurostat, in 2021, the number of dwellings in the European Union (EU) increased to 236.8 million, up from 235.2 million in 2020. Furthermore, the increasing number of laundromats in Europe is expected to support the market growth. For instance, according to data from the European Laundry Association, the number of laundromats in Europe increased from 8,000 in 2020 to 8,500 in 2021.
Furthermore, the increasing number of luxury hotels and resorts in Europe is expected to propel the demand for coin-operated laundries. For instance, according to the European Tour Operators Association, in 2021, the number of luxury hotels in Europe increased from 5,000 in 2020 to 5,500 in 2021. Additionally, the increasing number of tourists is expected to fuel the market growth. For instance, according to the World Tourism Organization, in 2021, the number of international tourist arrivals in Europe increased from 656.4 million in 2020 to 680.1 million in 2021.
Product Insights
The washers segment held the largest market share of around 39.5% in 2021. This is mainly attributed to the increasing adoption of coin-operated laundries in the region. Europe coin-operated laundries are highly convenient and time-saving and are available in a variety of sizes and models. This is driving the demand for coin-operated washers in the region. According to an article published by Laundromat Business Success, in November 2020, coin-operated laundries are popular in Europe and are used by students and families.
The dryers segment is anticipated to expand at the fastest CAGR of 5.1% over the forecast period. This is primarily attributed to the increasing demand for dryers in Europe. Coin-operated dryers are easy to use and convenient, and offer a variety of features such as adjustable temperature, automatic shut-off, and energy-efficient drying. In addition, rising disposable income among consumers in the region is bolstering the demand for coin-operated dryers.
Distribution Channel Insights
The coin-operated laundries segment held a substantial market share of over 37.2% in 2022. The growth of the segment is mainly attributed to the increasing number of coin-operated laundries in the region, which has made it easier for consumers to access laundry services. Furthermore, coin-operated laundries are also preferred due to their cost-effectiveness, as they provide services at a much lower cost as compared to other laundry service providers. Additionally, the growing demand for coin-operated laundries in Europe is also driven by the increasing number of working-class people, who prefer to use these services due to their convenience and affordability.
The retail stores segment is expected to witness the highest CAGR of over 10.3% over the forecast period. This can be attributed to the increasing number of retail stores in the region, which are offering laundry-related products at competitive prices. Moreover, with the help of technology, retailers are providing customers with more efficient ways to purchase laundry-related products. For instance, Amazon, one of the leading e-commerce platforms, is offering a wide range of laundry-related products, enabling customers to purchase them at competitive prices. This is expected to drive the growth of the segment during the forecast period.
Type Insights
The coin-operated laundries segment dominated the Europe coin-operated laundry market in 2020 and is expected to remain the largest market in the forecast period. The increasing demand for coin-operated laundry services due to the high cost of purchasing and maintaining laundry equipment has driven market growth. The convenience of the coin-operated laundry machines has increased their popularity among consumers. The ease of use and the low cost incurred in using coin-operated machines make them more attractive for consumers.
The card-operated laundries segment is expected to witness the fastest growth rate during the forecast period. Card-operated laundry machines are gaining traction among consumers due to their convenience. Card-operated machines provide easy access to customers as they do not require coins or cash to operate. Additionally, card-operated machines offer a secure payment option to customers. The card-operated machines also allow customers to track their expenses and keep a record of their laundry expenses. This factor is expected to boost the growth of the card-operated laundries segment.
Regional Insights
Europe is expected to witness the highest growth in the coming years. This can be attributed to the increasing demand for coin-operated laundries in the region. In addition, a growing demand for coin-operated laundries in cities such as London and Paris, due to the increasing population in these cities, is further driving the growth of the market in Europe. For instance, in January 2022, University Laundry opened coin-operated laundries in London, UK.
The market in Asia Pacific is expected to witness a steady growth over the forecast period. Factors such as the increasing disposable income, growing urbanization, and rising awareness of coin-operated laundries are driving the market in this region. In addition, the presence of prominent players such as Maytag and LG, coupled with the increasing demand for technologically advanced product offerings, is further driving the growth of the market.
Financial Projections
In this part of the coin-operated laundry products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your coin-operated laundry products business. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a coin-operated laundry products business comes from product sales, commission fees, and installation services. Here you will find a list with a description of each of them and other possible sources of profit such as rentals, leasing, and repairs.
Projecting Expenses
In this section, all the regular expenses related to keeping the coin-operated laundry products business running will be described. The list of operating expenses includes product costs, employee wages and benefits, inventory, advertising and promotion, research and development, shipping and handling, taxes, insurance policies, and others.
Key companies & market share insights
Some of the key companies operating in the Europe coin-operated laundries market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, LG Electronics launched a range of coin-operated washers and dryers in the European market.
– In August 2022, Whirlpool Corporation launched a range of front-load coin-operated washing machines in the European market.
– In October 2022, BSH Home Appliances Group launched a range of stackable coin-operated washers and dryers in the European market.
Some of the prominent players in the Europe coin-operated laundries market include:
– LG Electronics
– Whirlpool Corporation
– BSH Home Appliances Group
– Electrolux AB
– Arçelik A.Ş.
– Haier Group Corporation
– Panasonic Corporation
– Samsung Electronics Co., Ltd.
– Speed Queen
– Maytag Corporation
Global Europe Coin-operated Laundries Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global coin-operated laundries market based on type, technology, service, and region:
1. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Washers
– Dryers
2. Technology Outlook (Revenue, USD Million, 2017 – 2030)
– Fully Automatic
– Semi-Automatic
3. Service Outlook (Revenue, USD Million, 2017 – 2030)
– Self-Service
– Managed
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– Europe
– North America
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What Is the Size of the Europe Coin-operated Laundries Market?
[A]: The Europe coin-operated laundries market is estimated to be valued at $14.6 billion in 2020 and is expected to reach $18.1 billion by 2027, growing at a CAGR of 3.4% from 2020 to 2027.
[Q]: What are the Drivers of the Europe Coin-operated Laundries Market?
[A]: The growth of the Europe coin-operated laundries market is mainly attributed to the increasing number of busy working professionals and increasing disposable income of people in Europe. Additionally, the increased demand for convenient laundry services is expected to drive the market during the forecast period.
[Q]: What are the Key Segments of the Europe Coin-operated Laundries Market?
[A]: The Europe coin-operated laundries market is segmented by end user, service provider, and region. By end user, it is bifurcated into households and commercial. By service provider, it is divided into independent service providers and franchise service providers.
[Q]: What are the Challenges Faced by the Europe Coin-operated Laundries Market?
[A]: The Europe coin-operated laundries market faces challenges such as high machine maintenance cost, competition from online laundry services, and lack of awareness about coin-operated laundry services.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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