Pressure Washer Market Is Set To Reach $3,868.9 Million by 2030, says P&S Intelligence

Published on Jun 1, 2022.

According to the market research report published by P&S Intelligence, the global pressure washer market is predicted to reach $3,868.9 million by 2030 from $2,629.1 million in 2021, advancing at a compound annual growth rate of 4.4% between 2021 and 2030. Car washing is a major end use of these products across the globe, accounting for around 10% of the sales value in 2020. According to the OICA, approximately 82 million vehicles were sold globally in 2021, resulting in an increasing demand for carwash services.

Opportunity: Increasing Urbanization Rate in Emerging Economies

The need for residential buildings will rise as the urbanization rate increases, resulting in a higher demand for pressure washers. In 2019, approximately 55% of the population lived in urban areas, and by 2050, this number is predicted to rise to 68%. Further, according to the UN, Africa and Asia will account for over 90% of the growth in urbanization rate.

APAC Market Is Expected To Grow at Highest CAGR

The pressure washer market in APAC will grow at a CAGR of approximately 5% in the coming years, owing to the initiatives of governments for developing infrastructure. For instance, in February 2020, the Chinese government announced plans to spend $1.4 trillion on inter-city transportation systems, 5G networks, and digital infrastructure. Moreover, the usage of pressure washers for car cleaning and gardening is booming owing to the increasing count of households in countries such as China, Indonesia, and India.

Largest and Fastest-Growing Categories in Pressure Washer Market

• Sales of hot-water pressure washers are projected to rise at a 4% CAGR in the coming years. The use of such variants can decrease the cleaning time by 35% and give more-effective cleaning.
• The 1,501–3,000 psi category holds over 50% share, and it is expected to maintain its position in the coming years. This is due to the growing usage of these variants for washing motorcycles, bicycles, and cars and for residential purposes.
• Similarly, the 3,001–4,000 psi category holds the second-largest share in the pressure washer market. Their adaptability for heavy-duty applications in construction sites and automobiles is driving the demand for them.
• The commercial sector holds over 40% share of the market, owing to the increasing concerns about cleanliness among business space owners. These devices are used in a variety of commercial settings, such as hospitals and retail stores, as well as monuments, sidewalks, and roadways.
• Browse detailed report on Global Pressure Washer Market Size, Share, Growth Drivers and Development Forecast Report 2030

Major Players in the Market

To increase their revenue, major players in the pressure washer market have been engaged in product releases and facility expansions. These major players are Briggs & Stratton, Landa Karcher Group, AR North America, Sunrise Global Marketing LLC, IP Cleaning Srl, FNA Group, Alfred Kärcher SE & Co. KG, and Generac Holdings Inc.

Original article: https://www.prnewswire.com/news-releases/pressure-washer-market-is-set-to-reach-3-868-9-million-by-2030--says-ps-intelligence-301558620.html