The global floor polishing machine market is expected to witness significant growth during the forecast period: MRFR
Market Research Future published a Half-Cooked Research Report on the global floor polishing machine market that contains the information from 2017 to 2025. The global floor polishing machine market is expected to progress with ~5% CAGR from 2019 to 2025.
Taste the market data and market information presented through more than 100 market data tables and figures spread in 100 numbers of pages of the project report. Avail the in-depth table of content & market synopsis on “Global Floor Polishing Machine Market Information from 2017 to 2025."
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The rapid growth of the commercial sector, which includes malls, railway platforms, schools, hospitals, small and medium scale enterprises, is expected to drive the growth of the market during the forecast period. Considering the current scenario, the manufacturers are more inclined towards the development and manufacturing of floor polishing machine in developing countries such as India, China, and Mexico due to growing infrastructure. Furthermore, the emerging economies and increasing adoption of automation technology in floor polishing machine are expected to create opportunities in the global market in terms of new demands and sales during the forecast period.
However, the lack of skilled workers and high costs associated with the remotely operated floor polishing machine is hindering the market growth during the forecast period. Thus, the global floor polishing machine market size is expected to cross USD 18 billion by 2025 at a projected CAGR of ~5% during the forecast period, 2019–2025.
The global floor polishing machine market is segmented based on operation, floor type, application, sales channel, and region. Based on operation, the global market has been segmented into manual, automatic, and semi-automatic machines. Based on floor type, the global market has been segmented into carpet, concrete, stone, wood, tile & grout, and others. Based on application, the global market has been segmented into residential, commercial, and others. Based on sales channel, the global market has been segmented into online and offline.
Based on operation, the manual segment is expected to dominate the global market in terms of value during the forecast period due to growing uses from small scale enterprises. On the other hand, the automatic segment is projected to grow at a rapid pace over the forecast period owing to the growing demand for robotic floor cleaners. For instance, on 10th April 2019, Tennant Company announced an agreement with Walmart to supply fleet of autonomous mobile robot fleet equipped with robotic navigation across the US.
Based on floor type, the concrete segment is expected to hold a prominent share and is projected to witness significant growth in the global market during the forecast period, owing to increase in demand from commercial applications such as school hallways, patios, and high traffic concrete flooring. Whereas, wood segment is projected to grow a phenomenal rate over the forecast period due to increasing uses of wooden carpet for floor covering led the demand for wooden floor polishing machine.
Based on application, the commercial segment is expected to dominate the global market in terms of value during the forecast period due to growing commercial activities from developing region such as China, Brazil, Mexico, and India. On the other hand, the residential segment is projected to grow at the significant rate than the commercial and others segments due to the growing uses of carpet as a floor surface covering along with growing construction sector.
Based on sales channel, the offline segment is expected to dominate the global market in terms of value during the forecast period due to growing aftersales service centers. On the other hand, the online segment is projected to grow at the rapid pace than the offline segments due over the forecast period to the growing e-commerce sector (online retailers) like Amazon, Alibaba, and eBay.
Geographically, in the global floor polishing machine market, Asia–Pacific is expected to be the dominant region throughout the forecast period and is projected to register a higher growth rate than North America, Europe, and the rest of the world. This growth can be attributed to the rise population and consumer disposable income in China, Japan, and India. On the other hand, North America is projected to witness significant growth over the forecast period due to the presence of many major floor polishing machine manufacturers like Tennant Company and Tornado Industries in the US. Europe is expected to witness substantial growth owing to stringent government standards and an increasing number of hospitals and hotels.
The prominent players operating in the global floor polishing machine market are Adiatek S.r.l. (Italy), NSS Enterprises, Inc. (US), Denis Rawlins Limited (UK), Kaivac, Inc. (US), KLindex (Italy), Numatic International Ltd. (UK), EUREKA S.p.A. Unipersonale (Italy), Alfred Kärcher GmbH & Co. KG (Germany), Hako GmbH (Germany), Nilfisk (Denmark), Tennant Company (US), Tornado Industries (US), Minuteman International Inc. (US), Clemas & Co Limited (UK), and Fimap S.p.A. (Italy).
This research report provides insights into various levels of analysis, such as industry analysis and market share analysis for the leading industry competitors, along with their profiles. It also helps in studying the target segments by providing views on the emerging & high-growth segments. The market data comprises the necessary assessment of the competitive scenarios and strategies in the global Floor Polishing Machine market, including high-growth regions and/or countries, and political and economic environments. The project report further provides both – historical market values and pricing & cost analysis.
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