PUBLISHER: The Business Research Company | PRODUCT CODE: 1391239
PUBLISHER: The Business Research Company | PRODUCT CODE: 1391239
“Floor Polishing Machine Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on floor polishing machine market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for floor polishing machine? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The floor polishing machine market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
A floor polishing machine is an electric device designed to achieve a lustrous finish on specific types of flooring surfaces. These machines, known for their versatility, utilize rotating brushes or pads to scrub, polish, or buff floors, effectively preserving their appearance. Additionally, they are instrumental in removing wax buildup from various floor surfaces within facilities.
The primary categories of floor polishing machines encompass carpet, concrete, stone, wood, tile, grout, and other specialized floor types. Specifically, the carpet-type floor polishing machines are tailored for cleaning and polishing carpets. These machines are available in manual, semi-automatic, and automatic operational modes, catering to diverse applications in both residential and commercial settings. They can be procured through various sales channels, including online and offline platforms.
The floor polishing machine market research report is one of a series of new reports from The Business Research Company that provides floor polishing machine market statistics, including floor polishing machine industry global market size, regional shares, competitors with a floor polishing machine market share, detailed floor polishing machine market segments, market trends and opportunities, and any further data you may need to thrive in the floor polishing machine industry. This floor polishing machine market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The floor polishing machine market size has grown strongly in recent years. It will grow from $15.12 billion in 2023 to $15.93 billion in 2024 at a compound annual growth rate (CAGR) of 5.4%. The expansion observed in the historical period can be attributed to several key factors, including a significant surge in construction and real estate activities, heightened levels of renovation and remodeling endeavors, the development of industrial and commercial spaces, a wider range of available flooring materials, and the enforcement of health and safety regulations within the industry.
The floor polishing machine market size is expected to see strong growth in the next few years. It will grow to $19.8 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The anticipated growth in the forecast period can be linked to several driving factors, notably the increasing adoption of eco-friendly polishing solutions, growing concerns regarding health and hygiene, aging infrastructure requiring maintenance, the rising demand for specialty flooring solutions, and the ongoing trend of urbanization leading to the construction of high-rise buildings. Key trends expected in this forecast period encompass the implementation of smart and automated floor polishing techniques, the utilization of floor surface analysis for quality assurance purposes, the expansion of specialty applications in the market, the integration of labor-saving robotics in floor polishing processes, and continual technological advancements in the industry.
The expansion of the floor polishing machine market is anticipated to be propelled by the burgeoning construction industry. As a sector encompassing the manufacturing and trade facets related to building, maintaining, and repairing structures, construction involves various activities such as drilling, solid mineral exploration, and floor polishing. Floor polishing machines play a pivotal role in infrastructure repairs and restoration within construction and building facilities. Notably, the global construction market, projected to reach $8 trillion by 2030, as indicated by the Institution of Civil Engineers (ICE), a UK-based entity dedicated to promoting civil engineering projects. Additionally, Invest India, a national investment promotion and facilitation agency in India, foresees the construction industry in India reaching $1.4 trillion by 2025. Consequently, the escalating construction industry is a driving force behind the growth of the floor polishing machine market.
The floor polishing machine market is poised for growth due to the increasing demand for home renovations. Home renovations involve enhancements, alterations, or upgrades to residential properties, with many homeowners opting to preserve or restore the natural allure of hardwood floors during such projects. Floor polishing machines play a vital role in sanding and refinishing hardwood floors, eliminating scratches, stains, and imperfections while applying a fresh finish for a revitalized appearance. Notably, Today's Homeowner Media, a US-based media company, reported substantial spending on new house upgrades and repairs, with $337 billion in 2020, followed by $368 billion in 2021 and an expected $427 billion in 2022 by homeowners. This surge in home renovation demand is a key driver for the floor polishing machine market.
Technological advancements emerge as a prominent trend in the floor polishing machine market, with major companies focusing on innovation to meet consumer demands and fortify their market positions. Tennant Company, a US-based manufacturer of floor cleaning machines and equipment, exemplifies this trend with its announcement in April 2022. Tennant introduced lithium-ion technology to their portfolio of autonomous mobile robot (AMR) machines, showcasing advanced battery technology that maximizes productivity while reducing costs for customers worldwide in the floor polishing machine industry. This emphasis on technological progress reflects a commitment to staying at the forefront of the evolving floor polishing machine market.
Major players in the floor polishing machine market are strategically introducing innovative technological products to enhance their market profitability. One notable example is the SmartFloor Refinement System, a design concept aimed at producing highly aesthetic floors through a simple and cost-effective method applicable to any polishing machine. Ameripolish, a prominent US-based floor polishing machine manufacturing company, introduced the SmartFloor Refinement System in June 2022. The system is designed to achieve optimal results when the polishing machine's RPM is maintained above 150, utilizing the appropriate blade holder to secure the system's blade/ring to the machine. Ameripolish PCA (Penetrating Curing Agent) is recommended as the best-performing curing agent for fresh concrete when used in conjunction with the SmartFloor Refinement System.
In a strategic move in March 2022, Goodway Technologies, a US-based supplier of heavy-duty industrial maintenance tools, successfully acquired Doman, SRL for an undisclosed amount. This acquisition significantly enhances Goodway Technologies' global capabilities by incorporating world-class dry steam technology. Doman, SRL, an Italy-based manufacturer, specializes in producing dry industrial steam cleaning systems tailored for commercial and industrial applications. This strategic acquisition positions Goodway Technologies to offer a broader range of solutions in the floor polishing machine market, strengthening its position and expanding its technological offerings.
Major companies operating in the floor polishing machine market include Alfred Karcher GmbH & Co. KG, Tennant Company, Hako GmbH, Nilfisk Group, Clemas & Co. Ltd., Tornado Industries Inc., Denis Rawlins Limited, Eureka S.p.A., Minuteman International Inc., Fimap S.p.A., Klindex S.r.l, Bortex Industries Inc., Garg Machines, Wiese USA, New Age Cleaning Solutions LLC, Diamatic USA, Scanmaskin Sverige AB, Onfloor Technologies LLC, Terrco Inc., SASE Company LLC, Concrete Polishing Solutions, Klindex America Corp., CleanFreak, Betco Corporation, Mercury Floor Machines, Koblenz Electrica S.A., BISSELL Homecare Inc., Achilli S.r.l., Xtreme Polishing Systems Supply, Fujian Xingyi Polishing Machine Co. Ltd., Aztec Products Inc., Stonekor LLC
Asia-Pacific was the largest region in the floor polishing machine market in 2023. The regions covered in the floor polishing machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the floor polishing machine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The floor polishing machine market consists of sales of floor scrubbers, scrubber driers, single disc machines, scrubbing machines, mini scrubbers, polishing machines, line polishing machines, and die polishing machines. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.