Market Research Future has published a cooked research report on the Global Floor Polishing Machine Market, 2020–2030. The global floor polishing machine market is projected to exhibit a CAGR of 5.2% during the forecast period of 2022 to 2030.
Market Research Future has recognized the following companies as the key players in the global floor polishing machine market: Nilfisk (Europe), Tennat Company (US), Tacony Corporation (US), Alfred Karcher SE & CO. KG (Germany), Clemas & Co Ltd (United Kingdom), Fimap SpA (Italy), Adiatek S.R.L (Italy), NSS Enterprises (US), Numatic International Limited (United Kingdom), Denis Rawlins Limited (England), Kaviac, Inc (US), Klindex (Italy), Eureka S.p.A (Italy), Minuteman International (US) and Hako Australia (Australia).
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Floor Polishing Machine Market Research Report
Floor Polishing Machine Market Highlights
The global floor polishing machine market is projected to be valued at USD 18,071.8  million by 2030, recording a CAGR of 5.2% during the forecast period. The growing construction activities performed across the globe has increased the demand of floor polishing machine owing to its various advantages such as saves time compared to traditional method of sweeping the floor manually serves as a major factor for the growth of the floor polishing machine market. For instance, according to IBEF, India is expected to become the world’s third largest construction market by 2022. In addition, India will require investment worth Rs 50 trillion across infrastructure by 2022 for a sustainable development in the country. Apart from this, the growing number of key players coming up with various innovations in the floor polishing machine market is expected to create huge opportunities which in turn would boost its floor polishing machine market growth.
Floor Polishing Machine Market Segmental Analysis
The global floor polishing machine market market has been segmented based on operation, floor type, application, sales channel, and region.
Based on operation, Global Floor Polishing Machine Market has been bifurcated into manual, automatic and semi-automatic. The semi-automatic segment accounted for a market share of 35.32% in 2021 and is likely to register the lowest CAGR of 5.4% during the projected period. A semi-automatic floor polishing machine is usually designed and manufactured using DC motor and wiper mechanism. Moreover, this type of floor polishing machine possesses various benefits such as cost-effective & portable, user friendly requires fewer human efforts, less maintenance as well as flexible owing to which it is wide deployed among various end-users.
Based on floor type, global floor polishing machine market has been bifurcated into carpet, concrete, stone, wood, tile & grout and others. The tile & grout segment accounted for a market share of 23.91% in 2021. There are numerous types of tile grout, each of which is offered in a variety of colors. The gaps between the tiles are filled with grout. It is crucial for safeguarding the tiles and underlying surfaces as well as for giving the appearance of a seamless tile installation. It straightens tile lines, stops tiles from breaking or rubbing against one another, and stops moisture from penetrating the substrate.
Based on application, Global Floor Polishing Machine Market has been bifurcated into residential, commercial and others. The commercial segment accounted for a market share of 38.2% in 2021. The wide adoption of floor polishing machine owing to its various advantages such as floor polishing machines save effort when cleaning the floor, polishing the floor resists staining and damage to the floor by various commercial such as hotels, malls and many more is set to create lucrative opportunities for its market growth. Hence, the growing construction of commercial building in various regions across the world is set to boost its market growth.
Based on sales channel, Global Floor Polishing Machine Market has been bifurcated into online and offline. The offline segment accounted for a market share of 88.31% in 2021. The growing awareness among consumers regarding the benefits associated with online channels purchasing coupled with the hectic schedule of working population is expected to increase the overall sales of floor polishing machine through online sales channels which in turn would boost its market growth. For example, customers can easily purchase goods or items from the comfort of their homes or working place. Moreover, shopping is made quite easier and convenient for the customers through internet.
Floor Polishing Machine Market
Regional Analysis
Based on region, global floor polishing machine market has been segmented into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Asia-Pacific region accounted for a largest market share of 33.9% in 2021 and is expected to register the highest CAGR of 5.8% during the review period. The booming construction industry in the region has increased the demand of floor polishing machine which in turn would propel its market growth. For instance, according to the International Trade Administration, China is the world’s largest construction market and is forecasted to grow at an annual average of 8.6% between 2022 and 2030. Apart from this, the growing population in India is expected to increase the demand of residential construction, eventually requiring floor polishing machine for various purposes such as cleaning, polishing the floor and many more, which in turn would create huge opportunities for its market growth. The North America accounted for a market share of 28.0% in 2021 and is projected to register a CAGR of 4.7% during the forecast period. The COVID-19 pandemic has caused a sharp increase in demand for floor polishing machine in the United States. The United States already possess advanced healthcare system, but consumers are now more concerned about cleanliness to avoid the spread of germs and disease. Another significant factor that has boosted market sales in the region is the presence of major players in the region coupled with the various expansion policies adopted by them in order to expand its product portfolio. As a part of this, in February 2022, USA-CLEAN was acquired by Jon-Don, a provider of industrial supplies, machinery, consumables, and know-how to specialist contractors. Europe region accounted for a market share of 26.3% in 2021 and is expected to register a CAGR of 5.3% during the review period. Europe basically includes Germany, France, UK, Italy, and the rest of Europe are all included in the analysis of the European market. Europe continues to hold a significant share in the global floor polishing market, with enormous potential owing to the presence of major players in the region providing floor polishing machine to various end-users such as hospitals. For example, Karcher provides a wide range of products for cleaning such as the BDP 50/1500 ultra-high speed polishing machine usually ideal for floors which are subject to heavy traffic and features floating pad drive boards for uneven floors. South America region accounted for a market share of 8.78% in 2021. The presence of major key players in the South America region is a significant factor boosting the floor polishing machine. For instance, Tennant Company is considered a leader in the cleaning industry, developing innovative products and solutions that help customers clean more spaces more effectively, addressing indoor and outdoor cleaning challenges. In addition, recent innovation by the company is expected to fuel its market growth. Middle East & Africa region accounted for a market share of 2.99% in 2021. The growing initiatives taken by the government bodies in the Middle East region to strengthen the construction sector is expected to propel its market growth. For instance, in January 2022, the Ruler of Dubai approved Law No. (28) for the General Budget for the fiscal Year 2022, allocating a $16.32bn. The budget cycle will help Dubai achieve the goals of the Dubai Strategic Plan 2030 and stimulate the macroeconomy. The emirate's determination to hasten the post-pandemic economic recovery is reflected in the new general budget, which also reflects the leadership's broader objectives to promote entrepreneurship, increase happiness in society, and solidify Dubai's position as a land of opportunities and innovation.
Key Findings of the Study:
- The global floor polishing machine market is projected to register a growth rate of 5.2% from 2022 to 2030.
- The semi-automatic segment accounted for the largest market share of 35.32% in 2021 whereas the automatic segment is likely to register the highest CAGR of 5.8% during the projected period.
- The Tile & grout segment accounted for a market share of 23.91% in 2021 whereas the concrete is likely to register the highest CAGR of 5.8% during the projected period.
- The commercial segment accounted for a market share of 38.2% in 2021 whereas others is likely to register the highest CAGR of 5.8% during the projected period.
- The offline segment accounted for a market share of 88.31% in 2021 and is likely to register a CAGR of 5.2% during the projected period.
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Base Year | 2022 |
Companies Covered | 15 |
Pages | 100 |
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