Pressure Washers Market Forecast and CAGR
According to latest research by FactMR, pressure washers market is set to witness steady growth during 2021-2031. Demand for pressure washer will witness steady recovery in short-term, with optimistic growth outlook in the long-run. The utilization of washers in residential, industrial and commercial purposes will lead to create the new opportunities in near future, however, sales in agriculture sector is considered to be the driving force for growth.
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What is Driving Demand for Pressure Washer?
Evolving end-user demand for moderate to high pressure washers enabling higher sales. Residential applications continuous to be a lucrative avenue for manufacturers.
Sales of pressure washer is highly dependent on the global car washing industries, which has remained the most attractive customer in the past few years. Moreover, it is also been utilized for residential purposes such as cleaning the outdoor surfaces, gardens & pathway cleaning and for watering the plants, etc. The agriculture sector will accounts for the high consumption during the forecast period.
In addition the awareness programs like “SAVE WATER” has given a positive impact to the sale of pressure washer. Owing to this fact, that it reduces the wastage of water and give sufficient productivity. Hence it also addresses the challenge of global water crisis.
Key Factors which will Drive Sales of Pressure Washers
Pressure washers sale around the globe have been impacted by COVID-19-induced slowdown. This has also had a ripple effect on automotive component and car washing market. As light-weighted, power output, optimize pressure and water flow rate of the nozzle are the prime factors for car washing. Thereby, will provide the opportunity to manufacturers for their R& D enhancement. Pressure washer’s demand is anticipated to witness promising opportunities in upcoming years.
Pressure washers are also used extensively in cleaning of outdoor walls and glasses, this segment has witness a surge in past few years. As all the government across the globe are focusing on the monuments cleaning which have been impacted by acid rain and other phenomena.
Although lockdown and shelter-at-home guidelines have not impacted the sales of the washers because the pressure washers are highly been utilized in the sanitization purpose. Moreover, the demand from residential end user are likely to improve over the course of the assessment period.
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Market Restrain for Global Pressure Washers Market
The utilization of alternative technologies for cleaning purposes in residential, commercial apartments and in manufacturing units such as sandblasting and foam base cleaning technologies are likely to hinder the demand for pressure washers. Although the diversified application usage and product attributes stands at upper end giving promising growth outlook during the forecast period.
US Market Outlook
US is one of the largest markets for pressure washer globally. The US market is set to follow the same trend during the assessment period 2021-2031. Demand is likely to remain high in the next couple of years, this is due to the fact that pressure washers are been utilized for the sanitization purpose in all over the globe for preventing the COVID-19 infection.
Demand in US will be led by building exterior cleaning and car washing In addition, US pressure washer sales will also be impacted by the construction industry recovery in 2021. The US construction industry faces a challenging year, however, there is growing optimism that low mortgage rates will lead to a spurt in early 2022.
Europe Demand Outlook
Many countries in EU have been severely impacted by the COVID-19 crisis, which has led to a decline in economic activities. However, this lockdown has given an opportunity to the manufacturers of pressure washers since sanitization process of huge area is associated with utilization.
Despite the COVID-19 challenges, most European countries have maintained a steady construction and household expenditure in 2020. For pressure washer manufacturers and suppliers, the sales from Europe’s automobile and cleaning sectors will be witnesses during the assessment period
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Who are the Key Manufacturers and Suppliers of Pressure Washer?
Some of the leading manufacturers and suppliers of pressure washer include
- Toray Industries Inc.
- SGL Group
- Mitsubishi Chemical Holdings
- Formosa Plastics Corporation
- Hexcel Corporation
- Kureha Corporation
- Evonik Industries
- Hexcel Corporation
- Teijin Limited
- Royal DSM
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