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.
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.
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.
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.
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Further key findings from the report suggest:
- By product type, the electricity based segment dominated the market with a share of 38.8% in 2018
- Countries such as India and China are projected to witness rapid growth due to increasing popularity of the product in the commercial sector, along with an increase in the number of high-end hotels
- The home exterior application segment is anticipated to register the fastest CAGR of 3.9%.
For More Information: www.grandviewresearch.com
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