Floor Polisher Market Size, Share, Growth, and Industry Growth by Type (Concrete Floor Polisher, Stone Floor Polisher, Wood Floor Polisher, and Other) By Application (Home and Industry and, Commercial) Regional Forecast To 2031

Updated On: 08 April 2024

Floor Polisher Market Report Overview

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The global floor polisher market size was USD 1.641 billion in 2021. As per our research, the market is projected to touch USD 2.301 billion by 2030, exhibiting a CAGR of 3.82% during the forecast period.

Floor polishers are floor-cleaning machines. It operates by using rotating pads or brushes to polish, scrub, or buff a floor to maintain its appearance. The global COVID-19 pandemic has been unprecedented and staggering, with floor polisher experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The factors that are driving the market growth are the increasing need for eco-friendly and energy-efficient products, rapid urbanization & industrialization, and high standard of living and growing spending capacity of consumers. Further, the rapid adoption of technology and innovative products coupled with the high need for floor polishers in commercial & residential areas is estimated to fuel market growth in the forthcoming years. The product is used for polishing and grinding floors. On the contrary, high initial investment and lack of awareness about the advantages of polishers among end-user are anticipated to hamper the market growth over the forecast period.

COVID-19 Impact: Lower Demand for Technology due to Lockdown Restrictions to Restrict Market Growth

Lower demand for the product due to lockdown restrictions. The shutdown of the manufacturing unit hampers production activities. Lack of employees and closure of end-user sector to reduce market growth. Moreover, supply and chain distribution coupled with import & export activities. These factors hampered market growth during the pandemic period.

LATEST TRENDS 

"High Standard of Living and Blooming Technological Advancement to Stimulate Market Growth"

Today, people are focused on living a luxurious life coupled with adopting advanced technology for making basic work effective and stress-free. The product offers cleaning floors and several benefits which are anticipated to attract more customers such as being quiet, safe, and easy to manage. The rapid adoption of technology and innovative products coupled with the high need for floor polishers in commercial & residential areas is estimated to fuel market growth in the forthcoming years. The product is used for polishing and grinding floors which is estimated to fuel market growth. It has several features such as durability and long life. These features are predicted to surge floor polisher market progress.

Floor Polisher Market SEGMENTATION

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• By Type

Based on type, the market is divided into stone floor polisher, concrete floor polisher, wood floor polisher, and other.

Concrete floor polisher is estimated to be the leading part of type segmentation.

• By Application

Based on application, the market is classified into the home, and industry, and commercial.

Industry and commercial are estimated to be the leading part of application segmentation.

DRIVING FACTORS

"Increasing Demand for Lightweight Floor Cleaning Machines to Foster Market Growth"

Increasing demand for lightweight floor-cleaning machines and rapid adoption of green cleaning technology is estimated to fuel market growth. It is a high-performance device that provides an ultra-smooth finish. The technology allows professionals to complete projects faster than the traditional or manual method of cleaning. These factors are anticipated to fuel market growth. Further, a wide range of floor machines comes in different sizes depending on the surface to be sanded or polished. It is lightweight and easy to operate which is estimated to attract more customers over the estimated period.

"Growing Demand from Commercial and Residential Sectors to Fuel Market Growth "

The technology is extensively used in the commercial and residential sectors to keep the floor clean. The majority of housewives and maids are using floor polishing for quick home cleaning. The machines can be used in the recycling of hardware and increased retail service, which is predicted to drive market growth. Increasing need for eco-friendly and energy-efficient products, rapid urbanization & industrialization, and high standard of living and growing spending capacity of consumers. These factors are predicted to surge market growth in the forthcoming years. The deployment of automation technology and increased investment in the development of autonomous mobile robots is anticipated to fuel market growth. Stringent government regulations about the level of cleanliness in industries are predicted to fuel market growth throughout the forecast period.

RESTRAINING FACTORS

"Lack of Awareness and High Initial Investment to Limit Market Growth   "

High initial investment and lack of awareness about the advantages of polishers among end-user are anticipated to hamper the market growth over the forecast period.

Floor Polisher Market REGIONAL INSIGHTS

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"Increased Need for Eco-Friendly Products in North America to Drive Market Share "

North America is estimated to account for the floor polisher market share owing to the increasing need for eco-friendly and energy-efficient products, rapid urbanization & industrialization, and high standard of living and growing spending capacity of consumers. Further, the rapid adoption of technology and innovative products coupled with the high need for floor polishers in commercial & residential areas is estimated to fuel market growth in the forthcoming years.

Asia Pacific is anticipated to witness steady growth due to increased investment in the development of the autonomous mobile robot. The rapid adoption of technology and innovative products coupled with the high need for floor polishers in commercial & residential areas is estimated to fuel market growth in the forthcoming years. The product is used for polishing and grinding floors and is estimated to foster market growth in the upcoming years.

KEY INDUSTRY PLAYERS

"Leading Players Adopt Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the Industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• Tennant (U.S.)
• Mercury (U.S.)
• Mastercraft (U.S.)
• IPC Eagle (India)
• EDIC (U.S.)
• Crusader (Australia)
• Nilfisk Advance (U.S.)
• Minuteman (Canada)
• NSS (U.S.)
• Hawk Enterprises (India)
• Koblenz (U.S.)
• Powr-Flite (U.S.)
• BOSS Cleaning (U.K.)
• Pacific Floorcare (U.S.)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.