Europe Coin-operated Laundries Market Growth & Trends
The Europe coin-operated laundries market size is anticipated to reach USD 7.5 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 9.1% from 2021 to 2028. The industry has undergone a revolution. Laundromats are no longer dingy, unsafe, and tedious places that customers must endure on a weekly basis, and have instead become fun and attractive multiservice centers that customers may even enjoy visiting. Modern-day businesses have snack bars, a place to leave off and pick up dry cleaning, and video games. Some of them even use additional methods of payments instead of exclusively being dependent on coins. Many laundry owners also employ attendants to keep an eye on the store and help customers use the equipment.
In addition, owners have realized that they can maximize their profits by providing customers with access to multiple services. Since they pay a set amount of rent on their commercial space, they have started to use that space to its fullest potential. Coin-operated laundry firms are located in apartment housing and are referred to as multi-housing laundry businesses or route laundry businesses. These businesses thrive in periods of both growth and recession. During periods of recession, when homeownership decreases, the self-service laundry market expands as more people are unable to afford to repair, replace, or purchase new washers and dryers, or as they move to apartment housing with inadequate or nonexistent laundry facilities. The market size grows proportionately to the increase in population.
Moreover, most hotels, hostels, and temporary lodging establishments offer coin-operated laundry services for their guests. Hotels often have an agreement that lets guests use laundromat services. In January 2021, Springboard Hospitality expanded its roster of Hawaii properties with the addition of Ohia Waikiki Studio Suites. The studio suit, along with offering 251 apartment-style accommodations, full kitchens, pool, bar, and restaurant, also offers coin-operated laundry facilities. Similarly, in November 2020, 304-room Marriott Tacoma Downtown was inaugurated, which, along with various facilities, also offers coin-operated laundry services.
Furthermore, Hybrid card-op laundry payment allows one to audit the amount of both coin and card sales in each of the machines. As money boxes near capacity, the one gets alerted by email and schedule the right time to have them emptied. Along with this, with an accurate system of accounting for machines, the collections get correctly deposited. Hybrid coin-and-card systems allow one to take the complexity out of dealing entirely with coins alone and save time. As a result, the acceptance of payment through various different channels can increase the traction and contribute to the growth of the industry.
Also, even though the COVID-19 pandemic is on the decline in terms of its impact, its economic impact continues to spread. From laundry businesses having to close down temporarily to closing up shop completely, the ripple effects that the outbreak has had and will continue to have on the national and global economies are unprecedented. For many Europeans, it was routine to run a quick wash at the local laundromat after coming home from work. However, with many Europeans still working from home, the need to go out and use these services has declined.
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Europe Coin-operated Laundries Market Report Highlights
- The market is expected to witness a CAGR of 9.1% from 2021 to 2028
- The residential application segment accounted for the largest revenue share of 80.5% in 2020
- Germany held the largest revenue share of 17.1% in 2020
Access Press Release@ https://www.grandviewresearch.com/press-release/europe-coin-operated-laundries-market-analysis
Europe Coin-operated Laundries Market Segmentation
Grand View Research has segmented the Europe coin-operated laundries market on the basis of application and country:
Europe Coin-operated Laundries Application Outlook (Revenue, USD Million, 2016 - 2028)
- Residential
- Commercial
Europe Coin-operated Laundries Country Outlook (Revenue, USD Million, 2016 - 2028)
- Germany
- UK.
- France
- Spain
- Italy
- Russia
List of Key Players of Europe Coin-operated Laundries Market
- Elis SA
- COLÁN Córdoba
- Quesada Laundry Service
- WASH’ N DRY (LAVERIE LIBRE SERVICE)
- TECNITRAMO
- REMBLI
- LAVANDERIA LAVISA
- Broomfield Launderette
- Girbau
- Johnson Service Group PLC
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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