Europe Coin-operated Laundries Industry Overview
The Europe coin-operated laundries market size was valued at USD 3,757.2 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 9.1% from 2021 to 2028.
The coin-operated laundry industry has changed in response to several trends. The first is that, for most consumers, meeting the demands of work and personal lives leads to a time crunch. Laundry owners are capitalizing on this reality by offering their customers time-saving convenience in the form of wash-and-fold, also known as drop-off service and dry-cleaning service. Some also offer pick-up services from customers' homes and deliver clean and folded clothes back to them. Over the past few decades, laundry technology has also improved dramatically. Energy-efficient, low-water washers have been gaining popularity, and dryers are much faster than they previously were. Although many machines still rely on coin-operated mechanisms, digital card-operated payment systems are also being made available.
Gather more insights about the market drivers, restrains and growth of the Europe Coin-operated Laundries Market
However, laundromats typically have been operating on a self-serve, automated system, owing to which owners are able to step back and manage their stores from afar. Many laundromats have begun to include amenities like free Wi-Fi, TVs, vending machines, and children’s play areas. In addition, it has become common for laundromats to remain open 24/7, an extra convenience for customers with busy schedules.
Furthermore, washers and dryers have also radically evolved from previous coin-operated laundromats. Most businesses utilize washers and dryers of various sizes, depending on the needs of the business. To better serve customers, laundromats also have ATMs, laundry detergent for sale, and drop-off services.
Furthermore, the Europe coin-operated business has been moving toward maturity and is moving toward stability with predictable rates of turnover and increasing values of existing coin laundries. Development of new turn-key facilities, and equipment expansion and replacement is also trending in the industry. Currently, the coin-operated laundry industry is a strong and vibrant one. This dependable public service industry continues to grow and thrive. The demographic trends toward an even greater apartment dwelling segment of the population predict continued prosperity.
Moreover, clean clothes, like food and shelter, are considered a necessity of life, and coin laundries provide a basic hygiene service. While coin-ops are found in virtually all neighborhoods across Europe, stores have been observed to perform exceptionally well in predominately renter-occupied, densely populated areas. These areas are increasing in number each year throughout the region. The rapid population growth, coupled with the expansion of rental housing, has increased the customer base for coin laundries.
In addition, technology is always changing, which creates opportunities for coin-operated laundry businesses. Hybrid payment system for laundromats can level up the whole business. With increasing number of payment methods coming into the picture, minimizing payment constrains has become a strategy that can help contribute to customer satisfaction. Hybrid card-operated laundry payment method is a recommended method to achieve this ease of payment.
Practically every industry has been susceptible to COVID-19’s far-reaching impacts, including the laundry and dry-cleaning sectors, which are heavily dependent on customers visiting laundromats in person. During early 2020, most countries in Europe were under strict lockdown to slow the spread of the virus, which reduced trips to the laundromat.
In addition, even with stay-at-home orders lifted in countries, the new normal has arguably settled in, pushing more and more Europeans to rethink their daily routines. This is a major obstacle for laundromat businesses throughout Europe. If laundromats would previously see 60 customers on a daily basis, they may be working with only about 20 consumers today. This has clearly impacted the earnings of these businesses. Furthermore, owing to reduced customers, several owners have had to lay off some staff, and the remaining staff has to take on more tasks, stretching them thin.
Browse through Grand View Research's Homecare & Decor Industry Research Reports.
- Retail Vending Machine Market - The global retail vending machine market size was valued at USD 51.91 billion in 2021 and is expected to register a compound annual growth rate (CAGR) of 10.7% from 2022 to 2030. Increasing demand for on-the-go snacks and beverages due to the hectic lifestyles of consumers is boosting product sales through vending machines.
- Coin-operated Laundries Market - The global coin-operated laundries market size to be valued at USD 30.1 billion by 2027 and is expected to grow at a compound annual growth rate (CAGR) of 9.4% during the forecast period. Laundry is a time-consuming task and has become a burden for people, especially the working-class population.
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
- U.K.
- France
- Spain
- Italy
- Russia
Market Share Insights
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Key Companies profiled:
Some prominent players in the Europe coin-operated laundries market include
- Elis SA
- COLÁN Córdoba
- Quesada Laundry Service
- WASH’ N DRY (LAVERIE LIBRE SERVICE)
- TECNITRAMO
- REMBLI
- LAVANDERIA LAVISA
- Broomfield Launderette
- Girbau
- Johnson Service Group PLC
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