Laundromat Machines Market Technological Trends in 2020-2030

 

• A laundromat machine is a type of equipment used in the process of washing and drying of clothes or apparel. A wide range of laundromat machines are available in the market, which includes washer extractors, tumble dryers, dry-cleaning equipment, stain-removing equipment, ironers, and other finishing equipment. Some of the prominent end-users of laundromat machines are textile- or apparel-making companies, coin- or card-operated laundry service providers, hotels, resorts, hospitals, nursing homes, multi-housing facilities, hostels, and senior living communities. In countries such as the U.K., Brazil, and Australia, installation of coin-operated laundromat machines has increased rapidly in recent years and it would continue to increase significantly in the near future.

Rise in standard of living and rapid increase in number of laundromat service providers in developing countries to drive the market

• Rise in the standard of living and rapid increase in the number of laundromat service providers in developing countries are projected to drive the global market for laundromat machines in the near future. Rise in awareness regarding hygiene and cleanliness is also anticipated to create significant opportunities for manufacturers and distributors of laundromat machines during the forecast period. Countries such as China, India, Australia, and Japan have experienced growing urbanization over the last few years. This factor is projected to increase sales of laundromat machines in these countries during the forecast period.

Rapid increase in installation of laundromat machines in hotels, hospitals, and senior living communities to create huge opportunities for manufacturers and distributors of laundromat machines

• Rapid increase in the installation of laundromat machines in hotels, hospitals, resorts, multi-housing facilities, and senior living communities is estimated to create huge opportunities for manufacturers and distributors of laundromat machines during the forecast period. Individuals, especially those living in metropolitan cities of various countries, are availing laundry services in their everyday life. This is anticipated to drive the global laundromat machines market during the forecast period.

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Europe Considered the Leading Market for Laundromat Machines

• Geographically, the global laundromat machines market can be divided into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America
• Europe accounted for major share of the global laundromat machines market in 2019. The market in Europe is anticipated to expand at a moderate rate during the forecast period, due to rising installation of laundromat machines at hotels and multi-housing facilities in countries such as the U.K., Germany, France, and Italy.
• The market in Asia Pacific is anticipated to expand at a significant rate during the forecast period, due to rapid increase in installation of laundromat machines at textile industries and rise in the number of laundry service provides, especially in Tier-1 and Tier-2 cities of developing economies such as China and India. This is projected to fuel the demand for laundromat machines in the Asia Pacific region during the forecast period.

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Key Players Operating in the Global Laundromat Machines Market

Prominent manufacturers of laundromat machines are projected to face healthy competition during the forecast period. Brands such as LG Electronics, Electrolux AB, Whirlpool Corporation, and Alliance Laundry System LLC are making heavy investments in research and development to expand their existing product portfolios and are planning to launch new laundromat machines in the market.

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Glass Vape Cartridge Market to Witness Promising Growth Opportunities During 2020–2027

 

• Currently, vaping is one of the fastest growing trends across the globe. The vaping culture is steadily growing due to its less harmful nature compared to smoking. Vape cartridges are available in materials such as ceramic and glass. Glass vape cartridge is the device filled with cannabis oil and which is battery powered for vaporization. The glass vape cartridge market is segmented on the basis of product type into disposable cartridge, and refillable and reusable cartridge. The cartridges are available in different capacities. Growing usage of vape cartridges as an alternative to tobacco is expected to drive the glass vape cartridge market worldwide.

Growing Usage of Vape Cartridge as an Alternative to Smoking Expected to Fuel the Global Glass Vape Cartridge Market

• Growth of the vaping industry is expected to lead to increased usage of glass vape cartridges. Glass vape cartridge helps to control the dosage of the nicotine, as these vape cartridges have adjustable airflow and power output which changes and controls the vapor volume. Glass vape cartridges are a healthier alternative to smoking. Also, the medicinal usage of cannabis in the medical & pharmaceutical industry is projected to fuel the glass vape cartridge market in the near future. The glass vape cartridge market is likely to expand significantly due to major growth of the vaping industry.

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Rising Availability of Different Flavoring Variants to Drive the Glass Vape Cartridge Market

• Glass vape cartridges are also available  in a pre-loaded form with different flavoring variants of cannabis oil. Consumer shift toward usage of flavoring agents is expected to positively impact the glass vape cartridge market in the coming years. Growing health consciousness among consumers and preference for safe vape products rather than the usage of traditional cigarettes is anticipated to boost the sale of glass vape cartridges in the near future.

Stringent Government Regulations Related to Vaping in Different Countries to Hamper the Global Glass Vape Cartridge Market

• Cannabis oil is majorly used in glass vape cartridges.  Strict government rules and regulations pertaining to consumption of cannabis in different countries is expected to hamper the growth of the glass vape cartridge market. Higher usage of vape cartridges for recreational activities can create hurdles in the market.

North America to Lead the Global Glass Vape Cartridge Market

• In terms of region, the global glass vape cartridge market can be divided into North America, South America, Europe, Asia Pacific, and Middle East & Africa.

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• Europe includes the country-level analysis for U.K., Germany, France, and Rest of Europe. North America includes Canada, the U.S., and Rest of North America. The South America glass vape cartridge market is segmented into Brazil, and Rest of South America. Analysis and forecast of the glass vape cartridge market in Asia Pacific features India, China, Japan, and Rest of Asia Pacific. Middle East & Africa covers the glass vape cartridge market analysis for GCC countries, South Africa, and Rest of Middle East & Africa.
• The market in North America is likely to witness the maximum demand for glass vape cartridge equipment from 2019 to 2027 followed by Asia Pacific and Europe.
• Leading manufacturers of glass vape cartridge products have extensive distribution networks along with deep product penetration.

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Cold Fogger Market to Record Significant Revenue Growth During the Forecast Period 2020–2027

 

• Cold fogger is a device used to kill insects and get rid of unpleasant and mold odor inside residential or commercial places.
• Cold foggers generally use high air pressure to spray the fogging liquid into small particles
• This product is also used to get rid of insects such as mosquitoes in outdoor applications.

Key Drivers of the Global Cold Fogger Market

• Rising demand for pest management services in urban and rural areas is driving the market growth.
• Insects and pests decrease the agricultural output in farms. Rising awareness among farmers about the positive effect of pest management on soil is driving the market growth.
• Agricultural fogging machines help to decrease the effect of pests on crops which promotes the sale of cold foggers among farmers.
• Governments in developing countries provide guidance about the need to use this product in the agricultural sector. Furthermore, mosquito related problems in countries such as Brazil, Nicaragua, Colombia, Bangladesh, Sri Lanka, Nepal, Thailand, and parts of India is expected to drive the sales of cold foggers.

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Rising Product Demand in Indoor Farming to Create New Opportunities

• Indoor farming is growing significantly to meet the growing demand for fruits and vegetables globally. Cold foggers are used in farming to decrease the effect of insects on crops. This factor is expected to create new opportunity in the market.

Difficulty in Using Cold Foggers in Windy Locations

• The fog generated by a cold fogger can easily move in any direction due to the smaller wind gusts. This makes it difficult to use the product in windy conditions and restricts the market growth in different geographical locations.

Cold Fogger Market in Asia Pacific to Expand Significantly

• North America is a prominent market for cold foggers globally, and the region is estimated to maintain its dominance in the near future. Advancement in the agriculture and livestock sector coupled with growing usage of cold foggers in food processing plants, transportation industry, and pharmaceutical and hospitals sector is likely to create new growth opportunities for cold foggers.
• Usage of the product is comparatively high in developed countries including the U.S., U.K., Germany, and France.
• The market in Asia Pacific is estimated to expand at a rapid pace. Increasing technological advancement in the agricultural sector is driving this market. Moreover, government subsidies and increasing awareness about the product among consumers is expected to propel demand in the next few years.

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Key Players Operating in the Global Market

The global cold fogger market is fragmented in nature. Large number of small and medium players are present in the market. Companies are working on product innovation and development to consolidate their market share. A few of the key players operating in the global cold fogger market are listed below:

Global Cold Fogger Market: Research Scope

• B&G Equipment Company
• Curtis Dyna-Fog, Ltd.
• ESPP
• HSC ULV Fogger and Disinfection Machinery
• IGEBA Gerätebau Gmbh
• Longray Fog

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Traffic Safety Products Market is Expected to Thrive at Impressive CAGR by 2026

 

• Traffic safety products are important for safety of vehicle operators, passengers, and pedestrians as road traffic injuries are the leading cause of death among people aged between 15 and 29 years. Traffic safety products are available in permanent and temporary forms depending on the needs of the workplace and duration of the project.
• Additionally, there are times when workplace safety overlays with road and traffic safety. In order to ensure that workers are able to work safely in high traffic areas, they must have access to high quality and weather resistant traffic safety products.

Key Drivers of the Global Traffic Safety Products Market

• Increasing number of road traffic accidents is one of the prime reasons for the growth of the traffic safety products market. According to World Health Organization, approximately 1.35 million people die each year as a result of road traffic accidents. Such occurrences are more prominent in middle and low income countries where traffic safety regulations are not stringent.
• Additionally, growing urbanization, and increasing government spending for public transportation systems coupled with technological advancement in road safety products are some of the other factors spurring the growth of the traffic safety products market. Manufacturers are continuously focusing on integration of advanced technologies in road safety products in order to decrease road accidents and increase safety of workers and pedestrians etc.
• All the above factors together are anticipated to fuel the growth of the traffic safety products market worldwide.

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Technological Advancement, a Key Business Opportunity for the Traffic Safety Products Market

• Technological improvements in road safety products is anticipated to create new business opportunities for the growth of the traffic safety products market. Shift from incandescent traffic lights to LED lights not only saves energy but they last long. These lights enable the usage of different shapes other than the circular one, for example, square shape, that increases visibility due to larger illuminated areas. Additionally, weather resistant or all weather traffic safety products are other examples of technological innovation that is anticipated to augment the growth of the traffic safety products market.

Lack of Proper Funding, a Key Restraining Factor for the Growth of the Market

• Lack of proper funding is one of the key restraining factors for the growth of the traffic safety products market. Lack of availability of traffic safety products as per regulations and standards hampers the growth of the market.

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Asia Pacific Offers Growth Avenues for the Global Traffic Safety Products Market

• Geographically, the global traffic safety products market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
• Countries in North America and Europe have some of the key companies specialized in traffic safety products.
• Asia Pacific on the other hand is a prominent region owing to the presence of some major manufacturers.
• Other regions such as South America and Middle East & Africa have strong potential growth for the traffic safety products market.

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Range Hood Market Analysis by Geographical Regions, Type and Application Till 2027

 

• Range hood is a device that has a mechanical fan which hangs above the cooktop or stove. Range hoods remove combustion products, smoke, fumes, airborne grease, steam, and heat from the air by clearing of the air and filtration. 

Key Drivers of the Global Range Hood Market

• Increasing number of food chains globally is driving growth of the kitchen hood market. Food chain companies prefer to install advanced kitchen hoods for its easy cleaning ability.
• Rising working population at the global level is expected to boost the usage of this product among residential consumers. Governments of different countries have stringent regulations pertaining to the cleanliness of food manufacturing companies. Furthermore, these devices have added features such as maintenance of air quality, heat reduction, and increased safety, which is likely to drive the market in the next few years.
• Increasing consumer spending through online distribution channels is also likely to propel market growth. Key companies are offering their products through online and offline channels to increase their customer base. 

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Rising Demand for Smart Kitchen Devices to Create New Market Opportunities

• Innovations in the kitchen products industry is set to create new avenues in the range hood market. Companies are introducing IoT based products with advance features. Furthermore, consumer demand for smart features, including wireless connectivity, noise reduction, and temperature control, is expected to encourage market growth. 

Availability of Low Cost Alternatives to Hamper the Global Range Hood Market

• Maintenance cost of range hood products is very high. Moreover, suitable alternative products including exhausts are available at a cheaper price. This factor will slow down the market growth in the coming years. 

Asia Pacific the Dominant Market Set to Expand at a Higher Pace

• Asia Pacific is estimated to be the fastest growing region of the global range hood market. The rising working population is investing in advanced kitchen equipment. Furthermore, rising disposable income in developing economies such as China and India is expected to boost the market growth in the near future.
• North America is the largest market for kitchen hood products. Consumers of this region prefer to use advanced products that consume less energy. Companies in North America are working on product development strategies which support product demand. U.S. based company, North American Kitchen Solutions, Inc. launched a product namely UL710 Type 1 hood. This product operates without a factory cut duct connection, which reduces operational cost.

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Key Players Operating in the Global Market

Competition in the global range hood market is very high. Large number of small and large scale players are present in the market. Companies are opting for various strategies to expand their market share including merger & acquisition, and product innovation and development. For example, India based company Faber started offering chimneys without filter. This product makes lower noise than similar products. Moreover, it also does not require regular cleaning.

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Luxury Goods Market to Witness Significant Growth between 2020-2027

Luxury market consists of nine segments, which is dominated by luxury hospitality, personal luxury goods and luxury cars. These segments collectively account for almost 80% of the entire market. Overall, luxury goods market has shown significant growth in recent years. The growth is attributed to growing income of individuals.  Also, luxury items represent social status. Thus, people tend to buy luxury goods to show off their status. Registering the trend, the luxury goods market is anticipated to show promising growth in the coming years.

In category of luxury goods, jewellery and shoes are among top items contributing nearly 7% of the overall revenue generated. Handbags and beauty products are next in line. At the same time, sale of watch produced average revenue.

Emergence of online stores is driving the sale of luxury items. E-commerce is facilitating easy purchase option of products produced at distant places. This, in turn, has contributed significantly to the growth of global luxury good market. On the other hand, contribution through offline stores has decreased drastically. This is a consequence of competition by online stores.

Registering the preference and demand for online purchase of luxury products, the luxury goods market is anticipated to grow significantly in the coming years.

Global Luxury Goods Market: Overview

In an era of rapidly changing trends, producers of luxury goods have started to keep a watch on a new class of consumers that is rising these days. High-Earners-Not–Rich-Yet (HENRY) is the new class of consumers is likely to become increasingly relevant in the times to come. In addition to that, luxury goods manufacturers are now making substantial investment to draw the attention of the younger section of the population, who comprise the future consumers of luxury goods. Attempts to trigger interest of younger generation are likely to fuel growth of the global luxury goods market.

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These ‘new’ tech savvy generations desire for seamless, individualized brand relationship and are investing in brands across the globe to market products utilizing social and digital media platforms. They are also using the same platform to engage with existing and prospective consumers.

Type, gender, mode of sale, and region are the five key parameters based on which the global luxury goods market has been divided. The objective of such segmentation is to offer a clearer, 360-degree view of the market.

Global Luxury Goods Market: Notable Developments

One of the developments that offer a glimpse of the market dynamics about the global luxury goods market is mentioned below:

• In November 2019, Louis Vuitton Moet Hennessy (LVMH) acquired US-based luxury jewelry and specialty retailer Tiffany & Co. The acquisition is one of the largest in the business of luxury retail. Following the acquisition, it is expected that LVMH will be able to expand its reach and diversify its product offerings.

Some well-known organizations in the global luxury goods market include the below-mentioned:

• The Estée Lauder Companies Inc.
• Cie Financiere Richemont SA
• LVMH Moët Hennessy
• L’Oréal S.A.
• Kering S.A.
• Prada S.p.A.

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Global Luxury Goods Market: Key Trends

The following drivers, restraints, and opportunities characterize global luxury goods market over the assessment period, from 2019 to 2027.

Younger Generation Likely to Fuel the Demand for Luxury Goods

The global luxury goods market is expected to be fuelled by the augmented demand for premium cosmetics and beauty products. In addition, the increased uptake of omnichannel retailing is likely to encourage growth of the global luxury goods market further.

In addition, there has been a rise in the disposable income of people together with increased awareness about various skin-related issues. These factors have increased the consumer spending on various high-end skincare products such as Bobbi Brown, Mac, Estee Lauder and so on. Rise in the expanding base of aging population generates demand for premium anti-aging creams. Increased spending on such premium brands is likely to support growth of the global luxury goods market over the tenure of assessment, 2019 to 2027. To cater to the rising demand for such innovative and advanced skincare technologies and products, manufacturers are investing more into research and development activities, which is estimated to boost the demand for luxury goods in the years to come.

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Pre-shave Products Market Opportunity Assessment 2020-2027

 

• Pre-shave products are used for an extra protection layer on the skin during shaving. It improves the quality of shaving by loosening up the skin cells. Pre-shave products include a wide range of products such as cream, oil, and soap. Increasing importance of personal grooming due to changing corporate culture is surging the shaving products market which is leading to the demand for pre-shave products. Significant growth in spending on personal care products over the last few years is expected to create a positive influence on the pre-shave products market in the coming years.
• Several developing countries are seeing a rising demand for pre-shave products owing to the corporate culture and growing purchasing power of consumers, which is leading to growth in spending on personal care products.  Increasing number of salons and barber shops is also expected to boost the global pre-shave products market in future.

Key Drivers of the Global Pre-shave Products Market

• Significant surge in the personal care products market across the globe and increasing preference for organic products are major driving factors of the pre-shave products market. Manufacturers are adopting different natural and organic ingredients to manufacture skin friendly products which is expected to create a positive influence on the pre-shave products market. They are also focusing on product branding and marketing through social media and other advertisement channels which also attracts a vast number of customers.
• Development of modern distribution channels have benefited leading manufacturers, enabling them to reach out to customers of different regions. Availability of a wide range of products under one roof and several offers and discounts are attracting customers. These factors are also anticipated to surge the global market in the coming years.
• Leading companies in personal care products manufacturing are spending significant amounts on research and development to introduce new products according to consumer requirement and are also focusing on customer specific formulations of products. This is also uplifting the market demand across the globe.

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Pre-shave Products Anticipated to Create Attractive Opportunities in Future

• Consumers in developing economies such as Asia Pacific and Africa are anticipated to create huge demand for pre-shave products in the coming years. Changing consumer lifestyle and westernization coupled with growing purchasing power are expected to create lucrative opportunities for the pre-shave products market during the forecast period.

North America and Europe Anticipated to Dominate the Global Pre-shave Products Market

• North America and Europe hold leading share in the global pre-shave products market due to increasing demand for personal care and beauty products. Presence of several leading manufacturers is expected to create a positive influence on the regional market. Developed countries in these regions are showing significant increase in demand for organic and natural products due to growing awareness about adverse effect of chemicals which is also encouraging the pre-shave products market in these regions.

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• Growing purchasing power, increasing standard of living, and changing lifestyle in emerging countries across Asia Pacific is expected to boost the market growth in this region. Growing preference for personal care products is also a promising factor for manufacturers of pre-shave products to expand their business.
• Middle East & Africa, and South America are also expected to show enhanced demand for personal care products. Increasing population and disposable income across South American countries is expected to create a positive influence on the regional pre-shave products market in the coming years.

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