The global Electronic Soap Dispenser Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global electronic soap dispensers market is anticipated to reach USD 1.01 billion, by 2025, according to a new report released by Million Insights. The market is expected to grow with a CAGR of 6.0% over the forecast period. Increasing awareness about personal hygiene and governments’ focus on sanitation hygiene programs are driving market growth. Further, the increasing demand for smart kitchens and bathrooms in both residential and commercial outlets is fueling the demand for such soap dispenser products.
Key Players:
- Toto Ltd
- American Specialties, Inc.
- Umbra
- Simple Human
- Orchids International
- Toshi Automatic Systems Pvt. Ltd.
- Lovair
- Bobrick Washroom Equipment, Inc.
- Zaf Enterprises
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Growth Drivers:
Increasing awareness about the importance of hand hygiene is fueling the growth of this product. This soap dispenser releases liquid or foam with the help of sensors that detect the presence of physical objects. Owing to its germ-free, touchless and safety features, this product is gaining traction among commercial sectors. This dispensing technology focuses on providing proper hygiene while using minimum soap. Thus, features such as improved efficiency and reduction in soap usage make it a popular choice among end-users.
Growth of hospitality and real estate industry is expected to provide a lucrative opportunity for the electronic soap dispenser market. Further, growth of tourism industry in countries such as Spain, Thailand, France and the United States are driving the demand for smart and luxurious bathrooms. Moreover, developing countries such as India and China are witnessing rapid infrastructural development, which in turn increases the demand for smart bathrooms and kitchens.
Raw Material Outlook:
- Plastic
- Steel
Application Outlook:
- Commercial
- Institutional
- Residential
Regional Insights:
North America held the largest market share, in 2018 with over 36.0%. The regions attract a huge number of tourists each year, and it is one of the leading tourism hubs in the world. As per the International Trade Administration and U.S Department of Commerce, over international tourist on travel and tourism spends USD 18.30 billion. Further, this industry is rapidly growing across the world including North America. The Asia Pacific, on the other hand, is expected to grow with a CAGR of 9.2% over the forecast period. Rising infrastructural developments and smart city projects are driving this market growth in this region. Further, the region is witnessing the construction of hotels, shopping malls, restaurants and other infrastructures, especially India and China.
COVID-19 Impact Insights:
Electronic soap dispensers market has been positively affected owing to the outbreak of COVID-19. Increasing concern regarding hand hygiene is a major factor in driving product demand. Moreover, the World Health Organization (WHO) is continuously promoting the importance of hand hygiene. Manufacturers across the world are witnessing increased demand for the electronic soap dispenser. Commercial places are increasingly deploying advanced and automatic soap dispenser solution to ensure proper hygiene. Considering the increasing demand, manufacturers have increased their spending on the research and development to introduce technically advanced products.
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