Floor Grinding Tools Market | Key players operating in the market include Tyrolit Group, Diamag, Klindex, SASE Company, Balstrac

According to recent market research "Floor Grinding Tools Market by Application (Grinding, Honing, Polishing, Burnishing), Floor Type (Concrete, Wood, Marble), Polishing Type (Dry Polishing, Wet Polishing), Region (North America, Europe, APAC, MEA, RoW) - Global Forecast to 2027", size is projected to grow from USD 124 million in 2022 to USD 155 million by 2027, at a CAGR of 4.5% from 2022 to 2027. The growth of the floor grinding tools market is attributed to increasing consumer preference for polished floors in residential buildings. The upscaling demand for residential, commercial, and healthcare buildings is driving the demand for floor grinding tools. In 2020, the floor grinding tools market was significantly impacted by the COVID-19 pandemic, with a substantial decline in its CAGR. However, recovery was witnessed with a positive impact on the floor grinding tools market because of demand in the construction sector in 2021.

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Concrete grinding and polishing involve smoothing uneven surfaces to smooth and shining surfaces. Concrete is inexpensive, extremely durable, and long-lasting flooring material. It has low maintenance costs as it requires fewer repairs and polishing every year compared to marble and granite. Housing renovation and maintenance have increased steadily and are expected to increase owing to the scaling disposable income. All these factors are expected to fuel demand for floor grinding tools in the concrete segment.

Polished concrete, and marble is the preferred flooring in new buildings due to its durability, esthetic appeal, ease of maintenance, and sustainability. Several manufacturers promote polished concrete under the green movement as it can provide them achieve LEED (Leadership in Energy and Environmental Design) ratings for their organization. Increasing demand for green and energy-efficient buildings and accelerating construction of new residential & commercial spaces are likely to support the growth of floor grinding tools in polishing applications during the forecast period.

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The market size for global floor grinding tools market size is projected to grow from USD 124 million in 2022 to USD 155 million by 2027, at a CAGR of 4.5% from 2022 to 2027. The growth of the floor grinding tools market is attributed to the booming construction sector, rise in renovation & remodeling activities, and rapid urbanization & globalization. In 2020, the floor grinding tools market had a nominal impact on its demand due to COVID-19. Slowing raw material production, supply chain disruption, hampered trade movements, declining construction demand, and reduced demand for new projects also have hampered market growth.

The floor grinding tools market has major players including Husqvarna Group (Sweden), Shenzhen Idimas Holding Co., Ltd. (China), Tyrolit Group (Austria), Diamag (Netherlands), and Klindex (Italy), among others. These players have adopted various growth strategies, such as mergers & acquisitions to increase their market shares and enhance their product portfolios.

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Husqvarna Group is the largest player in the floor grinding tools market, with 22.1% in 2021. Husqvarna Group manufactures outdoor power products for forest, park, and garden care. Further, the company provides garden watering products, cutting equipment and diamond tools for the construction and stone industries. The company operates its business through the mentioned segments: Husqvarna Forest & Garden, Gardena, and Construction. The Husqvarna segment comprises outdoor products, including chainsaws, trimmers, and mowers for forest, park, and garden care. The Gardena segment consists of garden watering and hand tools. The consumer brands segment focuses on product offerings related to forests and gardens. The construction segment includes professional equipment and diamond tools which are used for cutting and drilling concrete, stone, tile, asphalt, and masonry. The company's largest end markets are North America and Europe.

Tyrolit Group is the second-largest player in the floor grinding tools market, with a share of 2.3% in 2021. It is one of the leading manufacturers of bonded grinding, cutting, sawing, drilling, and dressing tools. The company was established in 1919 and is headquartered in Schwaz, Austria. It operates through 29 production sites in 11 countries worldwide. It manufactures around 80,000 different products in three business divisions: Construction, Metal/Precision, and Stone-Ceramics-Glass.

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