Press release
Floor Polishing Machine Market Anticipates Strong Growth, Projected to Reach $19.8 Billion by 2028
Floor Polishing Machine Market
Experiencing robust expansion, the floor polishing machine market is poised to surge from $15.12 billion in 2023 to $15.93 billion in 2024, reflecting a Compound Annual Growth Rate (CAGR) of 5.4%. The market is expected to continue its robust growth, reaching $19.8 billion by 2028, with a CAGR of 5.6%.
Key Growth Drivers:
Construction Industry Boom Propels Floor Polishing Machine Market:
The flourishing construction industry is a key driver fueling the growth of the floor polishing machine market. As an essential tool in infrastructure repairs and restoration, floor polishing machines contribute to the construction sector's efficiency. With the global construction market projected to reach $8 trillion by 2030, as per ICE (Institution of Civil Engineers), and the Indian construction industry expected to reach $1.4 trillion by 2025, per Invest India, the surge in construction activities is a significant factor driving the floor polishing machine market's expansion.
Home Renovation Surge Boosts Floor Polishing Machine Demand:
A surge in home renovations is anticipated to drive the demand for floor polishing machines. Homeowners, aiming for improvements and the restoration of hardwood floors, contribute to the market growth. With an estimated $427 billion spent on new house upgrades and repairs by homeowners in 2022, as reported by Today's Homeowner Media, the demand for floor polishing machines is set to rise.
Explore the Global Floor Polishing Machine Market with a Detailed Sample Report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=7005&type=smp
Major Players:
Leading companies in the floor polishing machine market include Alfred Karcher GmbH & Co. KG, Tennant Company, Hako GmbH, Nilfisk Group, and others.
Trends Shaping the Market:
Technological Advancements Enhance Market Landscape:
Technological advancements take center stage as a key trend in the floor polishing machine market. Tennant Company, for instance, introduced lithium-ion technology to their Autonomous Mobile Robot (AMR) machines, maximizing productivity and reducing costs for customers in the floor polishing machine industry.
SmartFloor Refinement System Revolutionizes Polishing:
Innovation in technological products, such as the SmartFloor Refinement System, is reshaping the floor polishing machine market. Launched by Ameripolish, this system offers a simple and affordable method to achieve high-aesthetic floors, showcasing the industry's commitment to innovation.
Regional Insights:
Asia-Pacific emerged as the largest region in the floor polishing machine market in 2023, with the Asia-Pacific and Western Europe regions anticipated to witness significant growth in the forecast period. Comprehensive regional coverage includes Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Market Segmentation:
The floor polishing machine market covered in this report is segmented -
1) By Floor Type: Carpet, Concrete, Stone, Wood, Tile and Grout, Other Floor Types
2) By Operation Type: Manual, Automatic, Semi Automatic
3) By Sales Channel: Online, Offline
4) By Application: Residential, Commercial, Other Applications
Access the Complete Report for In-Depth Analysis:
https://www.thebusinessresearchcompany.com/report/floor-polishing-machine-global-market-report
Floor Polishing Machine Global Market Report 2024from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries:Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
TheFloor Polishing Machine Global Market Report 2024byThe Business Research Company is the most comprehensive report that provides insights on market size, floor polishing machine market drivers and trends, floor polishing machine market major players, competitors' revenues, market positioning, and market growth across geographies.The floor polishing machine market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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