Floor Polishing Machine Market Overview:
As per Market Research Future (MRFR), the global floor polishing machine industry size is projected to cross USD 18 Billion at a CAGR of 5% from 2022 to 2030 (forecast period). The report describes the strengths, opportunities, threats, and potential business risks and provides an accurate overview of the global market situation under the influence of COVID-19.
A Floor Polishing Machine Market, also known as a floor cleaning device or floor grinding machine, is used in the residential, industrial, and commercial sectors. The floor polishing machine is quick, durable, and precisely operated automatically or manually. They are fitted with infinitely adjustable feed rates, cleaning and polishing head, buffing pads, scrubbing pads, and brush, along with injecting water with cleaning solution. Maintenance of these machines has a significant role to play in profitability.
Market Dynamics
Growing construction industry across the globe, the growing adoption of automated floor polishing machines, strict government regulations on the level of cleanliness in industry, rising retail service centers such as Wal-Mart and D-mart, increasing demand for epoxy floor polishing machines, and growing industrialization are anticipated to fuel the market for floor polishing machines.
The high prices of automatic floor polishing machines, lack of qualified operators, volatility in raw material prices, and lack of electricity supply from developing countries are expected to impede the global market's growth during the forecast period. Deployment of automation technology in floor polishing machines, green cleaning technology, growing demand for light floor cleaning machines, and increasing investment in the development of autonomous mobile robots equipped with robotic navigation systems in developed and developing countries are generating growth opportunities for the global market.
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Market Segmentation
The global floor polishing machine market has been segmented based on operation, floor type, application, and sales channel.
- Based on operation, the global floor polishing machine market has been segmented into manual, automatic, and semi-automatic machines.
- Based on floor type, the global floor polishing machine market has been segmented into carpet, concrete, stone, wood, tile & grout, and others.
- Based on application, the global floor polishing machine market has been segmented into residential, commercial, and others.
- By sales channel, the global floor polishing machine market has been segmented into online and offline.
Regional Analysis
Region-wise, the global Floor Polish Market growth has been segmented into four regions: North America, Europe, Asia Pacific, and the rest of the world (RoW).
The Asia Pacific is projected to retain a substantial market share during the forecast period due to the large consumer base and floor polishing machine industries. Moreover, an increase in expenditure capacity, an increase in urban population, an increase in demand for marble polishing machines and concrete polishing machines, and an increase in industrialization are likely to push market growth in the Asia Pacific region.
On the other hand, Europe is expected to see significant growth due to strict government standards and rising demand for portable marble polishing machines from Russia, Germany, Spain, and France. The North American market is expanding due to the rapid growth of commercial and residential structures and the increasing demand for wood floor polishing machines throughout the United States and Canada. The rest of the world market is known as the Middle East, Africa, and South America. The Middle East & Africa region is projected to expand significantly over the forecast period due to the growing demand for tile polishing machine and granite floor polishing machine from UAE and Dubai.
Key Players
The industry giants in the global floor polishing machine market include Alfred Kärcher GmbH & Co. KG (Germany), Tennant Company (US), Hako GmbH (Germany), Nilfisk (Denmark), Clemas & Co Limited (UK), Tornado Industries (US), Minuteman International Inc. (US), Fimap S.p.A. (Italy), Adiatek S.r.l. (Italy), KLindex (Italy), NSS Enterprises, Inc. (US), Denis Rawlins Limited (UK), Numatic International Ltd. (UK), Kaivac, Inc. (US), and EUREKA S.p.A. Unipersonale (Italy).
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