According to a new report, published by KBV research, The Global Electronic Soap Dispenser Market size is expected to reach $1.3 billion by 2028, rising at a market growth of 6.1% CAGR during the forecast period.
The Commercial segment acquired maximum revenue share in the Global Electronic Soap Dispenser Market by Application in 2021 thereby, achieving a market value of $571.8 Million by 2028. The hospitality sector, which is expanding quickly, is driving up product demand. It is one of the world's largest and fastest-growing industries. This industry has been greatly benefited by the travel and tourism sector's consistent expansion.
The Plastic segment has shown the growth rate of 5.6 % during (2022 - 2028). The market for plastic goods has grown as a result of the significant demand from the commercial and institutional sectors. Compared to materials like steel, aluminium, glass, and ceramic, plastic is less expensive. Consequently, these less priced soap dispensers are preferred by heavy users including hospitals, shopping centres, and restaurants over more expensive options.
The North America market dominated the Global Electronic Soap Dispenser Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $447.5 Million by 2028.The Europe market is exhibiting a CAGR of 5.6% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 6.8% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/electronic-soap-dispenser-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Toto Ltd., Umbra LLC, Shenzhen SVAVO Intelligent Technology Co., Ltd, American Specialties, Inc., The Splash Lab Ltd., ZAF Enterprises, Bobrick Washroom Equipment, Inc., Toshi Automatic Systems Pvt. Ltd., Orchids International, and Simplehuman.
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Companies Profiled
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