PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1092213
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1092213
The global Floor Grinding Machines market is estimated to be worth $340.9 million in 2021. Floor Grinding Machines market is expected to expand at an 4.7% CAGR during the forecast period.
Floor Grinding Machines are used by professionals who do infrastructure repairs and restorations. Floor grinders polish, clean, and refinish floors with rotating discs. Concrete, hardwood, and stone are the most common floor surfaces on which floor grinders are used. To polish the surface of the floors, the floor grinding machine has abrasive pads on the bottom of the device. Floor grinders are used to remove level or surface-level imperfections from floor surfaces. Floor grinding machines have aided in the resolution of specific flooring issues as well as the preparation of a clean surface for subsequent treatments. This machine is incredibly adaptable, and it can be used to coarse grind, renovate, polish, and maintain all kinds of marble, limestone, granite, terrazzo, and concrete floors.
The Floor Grinding Machines market is expected to increase at an exponential rate during the forecast period. The superior power adjustment characteristics of floor grinding machines are unique. These characteristics are required by various floor kinds in order to handle stress. The global floor grinding machines market is predicted to be driven by the developing construction industry, fast technology advancement in the global construction industry, and expanding industrial uses. Floor grinding machines improve the floor's resilience, make it more appealing, guarantee a high-quality finish, and help with stress management. The global floor grinding machines market is expected to increase as a result of these factors.
However, due to the global lockdown imposed by governments to combat the exponential development of the COVID-19 virus, the construction building and maintenance industry has come to a halt. This will have a negative impact on the demand for floor grinding machines in both residential and non-residential applications in 2020. Many governments throughout the world are allowing construction to begin; however, companies must adhere to specific guidelines in creating a safe and healthy work environment for both workers and occupants. The high maintenance costs of floor grinder machines are projected to limit the global floor grinding machines market's growth.
The floor Grinding Machines Market is segmented by head type, application, end-user, and geography. Based on application, the residential segment is expected to dominate the global market with a 59% market share. This market is mainly driven result of increased urbanization and infrastructure investments, especially in emerging economies such as China, India, and Brazil. China is a major exporter of floor grinding equipment worldwide. The rapid urbanization of China encourages producers of floor grinding machines and accessories to set up shop in the nation. China's low labor and material costs enable manufacturers to create floor grinding machines and accessories at reduced costs while also increasing industrial productivity. Many manufacturers fulfill the Asian demand for floor grinding machines in the Chinese market for floor grinding machines. In addition, China's growing construction and natural stone sectors provide the potential for the growth of floor grinding equipment.
The global Floor Grinding Machines market is fairly competitive with a presence of a large number of international and national players. Some of the major players in the market are Achilli, Blastrac, Fujian Xingyi Polishing Machine Co., Ltd, and Klindex, among others. Industry players are relying on product approvals, product launches, mergers, and acquisitions to gain a significant share of the global Floor Grinding Machines market. For instance, in January 2019, HTC launched a new line of floor grinders with a major focus on their user-friendliness and ergonomics. The new grinder - the HTC 510, now complements the start & Grind line and consists of four grinders and four dust extractors.
The scope of this report covers the market by its major segments, which include as follows: