The global Electronic Soap Dispensers Market is anticipated to reach $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.
Based on raw materials, the market is segmented into plastic and steel along with several other raw materials such as glass, aluminum and ceramic. Plastic is the most widely used raw material owing to the cost-benefit associated with it. Plastic products are popular in both residential and commercial segments, as these sectors require bulk orders. However, increasing demand for aesthetically appealing bathrooms and kitchens is expected to proliferate the demand for other raw materials such as glass, steel and ceramic.
Asia Pacific is expected to grow with the highest CAGR over the forecast period. This growth is primarily driven by increasing infrastructural development in countries such as China and India. The region is witnessing a surge in the construction of educational institutes, hotels, restaurants and other infrastructures. Further, the rise in the purchasing power of the middle class population in this region is expected to provide a lucrative opportunity for manufacturers.
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Leading players in the electronic soap dispenser market are Orchids International, Shenzhen City Svavo Bathroom Products Co., Ltd., Bobrick Washroom Equipment, Inc., Umbra, American Specialties, Inc., and Bobrick Washroom Equipment, Inc. among others. These companies are focusing on mergers & acquisitions, partnerships, and product innovations to strengthen their market presence. Sloan Valve partnered with GOJO Industries, Inc. to introduce its new range of products called PURELL Hand Sanitizer.
Further key findings from the report suggest:
- North America occupied the largest market share with over 35% in 2018.
- Asia Pacific is expected to exhibit the highest CAGR over the forecast period.
- The commercial segment held the largest share with over 50% in 2018.
- Among different raw materials, plastic accounted for the maximum share and it occupied nearly 70% of the market share.