Top Facts You Didn’t Know About Pressure Washer market & Impact of COVID-19
Posted by Mrudula Anil Karmarkar on October 4th, 2021
The global pressure washer market size is expected to reach USD 2.3 billion by 2025, expanding at a CAGR of 3.4% in the forecast period, according to a new report by Grand View Research, Inc. Rapid rise in the number of car washing stations due to increase in the number of vehicles and growing product awareness is driving the market for the product in the forecast period. Furthermore, increasing number of houses with lawn areas and trendy exteriors in countries such as U.S and U.K are propelling the market growth.
The home care & decor industry has been witnessing inconsistent growth, since the Covid 19 outbreak. As a result of the ongoing pandemic crisis, there has been a drop in the overall performance of discretionary products such as decorative fixtures, bedding products, to name a few. The virus outbreak has, however, led to substantial growth in categories such as cleaning and hygiene products. Prominent growth in the e-commerce business is also one of the positive influences of the outbreak, wherein companies are focusing on expanding their distribution networks to online channels in order to cater to the surging consumer demand. Our team is diligently working towards accounting these factors in our report with the aim of providing you with the up-to-date, actionable market information and projections.
On the basis of segmentation on the product type, electricity based product led the market and accounted for 38.8% share of the total revenue in 2018. The fact that the electric pressure washer comes with salient features such as light weight, powerful, and durable, thus the residential users prefer to have the electric based segment. The one-time payment with no extra expenditure with time and low maintenance are anticipated to drive the segment in the near future.
However, in the industrial segment, gas based pressure washer is mostly preferred and is expected to register a CAGR of 2.7% in the forecast period. They are more powerful but they require regular maintenance and refuelling, thus are not much popular among the residential users.
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The most common application of pressure washer lies in garden washing. Growing trend of lawn areas in developed as well as emerging economies is anticipated to drive the segment. The home exterior segment is expected to expand at the fastest CAGR of 3.9% in the forecast period. The segment is expected to witness significant growth in the near future owing to the trend of designer exteriors and the fact that increasing pollution level is hampering the exterior.
Pressure Washer Market Report Highlights
North America is the largest region for the product and it accounted for 35.0% share of the overall revenue in 2018. U.S. is one of the leading markets for the product and is expected to expand at a CAGR of 3.9% in the forecast period. Growing usage of the product due to increasing popularity about its benefits and implementation of the product type in cleaning of public gardens by the government have driven the market in the region.
Furthermore, the increasing number of vehicles has driven the market for the product in the residential sector as consumer’s washing trend is shifting towards pressure washing rather than traditional methods. Increasing product awareness and its benefits among the consumer is also impacting the market growth. The fact that the washer improves building’s curb appeal by washing the building regularly is increasing the demand for the product in the residential as well as hospitality sectors.
Increasing professional cleaning start-ups such as UrbanClap are fueling the market growth. The product is basically used for deep cleaning purposes to remove impurities and dirt present in the surroundings of the building. On the other hand, the effective result on car cleaning, patio cleaning, and home exterior cleaning is anticipated to propel the pressure washer market growth in the forecast period. In various countries, the government is also implementing these technologies in the cleaning process of roads and public gardens.
However, the product comes with some safety measures which is to be followed by the users in order to avoid negative circumstances. The washers are so powerful that it can damage the skin of the item on which it is used. It can also lead to bruises and injuries to the user if not handled with care. These factors can restrain the market growth for the product in the near future.
Furthermore, increasing number of car washing stations is fueling the market growth. The fact that the product is designed keeping in mind the water crisis globally, the product does not waste a lot of water and cleans the item efficiently in less time. The aforementioned factors are anticipated to fuel the market growth and will drive the market in the forecast period.
Revive Powerwashing Inc.; Karcher; Dewalt; Stanley Black & Decker Ltd.; Generac Power System Inc.; AR North America; Simpson; SunJoe; Ryobi; and Craftsman are some of the major players in the industry. The market presents moderate to high entry barriers due to presence of leading market players and requirement of high setting cost. The market is further driven by innovation in designs, mergers and acquisitions, and joint ventures. However, various means such as advertisement and promotional activities also plays an important role to make the consumers aware about the product and increase its popularity. Moreover, it helps the manufacturers to gain a competitive advantage over others.
Grand View Research has segmented the global pressure washer market on the basis of product type, application:
Pressure Washer Product Type Outlook (Revenue, USD Million, 2015 - 2025)
Pressure Washer Application Outlook (Revenue, USD Million, 2015 - 2025)
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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About the AuthorMrudula Anil Karmarkar
Joined: July 2nd, 2020
Articles Posted: 877
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