Floor Grinding Tools Market Is Expected To Reach USD 154.53 Million By 2027 At A CAGR Of 4.5 Percent.
Stellar Market Research has published a report on the Floor Grinding Tools Market that provides a detailed analysis for the forecast period of 2022 to 2027.
Floor Grinding Tools Market Scope:
The report comprises thorough insights into the market for industry stakeholders which includes an interpretation of complex market data in simple language, the industry’s historical and current state, along with estimated market size and trends. The report explores all segments of the industry, with a focus on significant players e.g. market leaders, followers, and new entrants. The report covers a detailed PESTLE analysis for different countries. A clear representation of the competitive landscape of key players by products and services, revenue, financial position, portfolio, growth strategies, and regional presence in the Floor Grinding Tools market make the report an investor’s guide.
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Floor Grinding Tools Market Overview:
Concrete floors are polished and repaired using floor grinding equipment. Additionally, floor grinders are used to remove paint and adhesive from the floor and prepare the area for refinishing. Wet and dry floor grinders are available. Water is used as a lubricant in wet floor grinders to reduce dust during operation. Some versions include a vacuum function that picks up water while grinding the floor. Dry floor grinders do not use water and gather dust in a container mounted on a machine using a suction.
Floor Grinding Tools Market Dynamics:
Renovation and house remodeling activities are on the rise all around the globe. This is mostly due to a growing emphasis on home design and enhancing consumer lives, as well as government funding for such activities. The National Energy Efficiency Action Plan (NEEAP) in Europe aims to encourage investments in residential and commercial building rehabilitation.
Consumers’ interest in the interior décor of their homes and workplaces is expanding as their income levels rise, their lifestyles change, and they adopt other cultures. Consumers are spending on home furnishings such as carpets, rugs, and other floor coverings that contribute to the aesthetic appeal of interiors. Because of the aforementioned characteristics, the usage of various flooring materials increases the demand for floor grinding instruments for surface preparation and finishing.
The high maintenance cost of floor grinder machines is expected to restrain the growth of the global floor grinding machines market. Increased demand for houses due to population increase necessitates floor grinding for houses; this aspect presents potential prospects for the global floor grinding machines market during the forecast period.
Floor Grinding Tools Market Regional Analysis:
In terms of revenue, the Asia Pacific market accounted for the biggest market for floor grinding tools in 2021. The region’s emerging economies are expected to see substantial demand for floor grinding equipment as the residential, industrial, and manufacturing industries expand due to fast economic development and government economic development efforts. Additionally, these countries’ rising populations constitute a sizable client base.
During the forecast period, the Asia Pacific market would be the fastest-growing market for floor grinding tools in terms of both value and volume. The increased per capita expenditure on building activities, a large customer base, a growing urban population, low labor costs, and simple availability of raw materials are all enticing foreign firms to relocate their manufacturing operations to the region. The need for floor grinding tools in these industries rises as a result.
Furthermore, China market is a significant exporter of floor grinding equipment across the globe. The fast industrial growth of China encourages producers of floor grinding machines and accessories to set up shop in the nation. China’s cheap labor and material costs enable manufacturers to create floor grinding machines and accessories at lower prices while maintaining excellent production productivity.
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Floor Grinding Tools Market Segmentation:
By Floor Type:
- Concrete
- Wood
- Marble
By Application:
- Grinding
- Honing
- Polishing
- Burnishing
By Polishing Type:
- Dry Polishing
- Wet Polishing
Floor Grinding Tools Market Key Competitors:
- Husqvarna Group
- Shenzhen Idimas Holding Co., Ltd.
- Tyrolit Construction Products GmbH
- Diamag
- Klindex
- Achilli S.r.l.
- Blastrac
- Fujian Xingyi Polishing Machine Co., Ltd.
- Levetec
- Scanmaskin Sweden AB
- Linax Co ltd
- Stonekor company
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