Portland, OR, July 20, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global floor grinding machine market generated $271.0 million in 2019, and is estimated to reach $344.6 million by 2027, registering a CAGR of 3.1% from 2020 to 2027. The report offers an extensive analysis of changing market dynamics, key winning strategies, business performance, major segments, and competitive scenarios.
Surge in expenditure on home remodeling and growth in building and construction activities in developing economies such as China and India drive the growth of the global floor grinding machine market. However, high maintenance cost of floor grinding machine hinders the market growth. On the other hand, growing adoption of eco-friendly floor grinding machines creates new opportunities for the market player in the coming years.
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Covid-19 scenario:
- As building & construction activities across the globe have been halted amid lockdown, the demand for floor grinding machine is likely to decline.
- The lockdown has restricted the international movement of non-essential goods and resources, which resulted in shortage of components required for the manufacturing of floor grinding machines.
The report offers a detailed segmentation of the global floor grinding machine market based on head type, application, end-user, and region.
Based on head type, the three and four head segment contributed to the largest share in 2019, accounting for nearly three-fourths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the one and two head segment it is estimated to portray the highest CAGR of 3.6% during the forecast period.
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Based on end user, the residential segment accounted for the largest share in 2019, holding more than half of the total share, and is expected to maintain the largest share throughout the forecast period. In addition, the segment is expected to register the highest CAGR of 3.3% from 2020 to 2027.
Based on region, Asia-Pacific contributed the highest share, accounting for more than two-fifths of the total market share in 2019, and will maintain its dominance throughout the forecast period. In addition, it is also expected to grow at the highest CAGR of 3.5% from 2020 to 2027.
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Leading market players analyzed in the research include Blastrac, Achilli S.r.l., Klindex S.r.l., Fujian Xingyi Polishing Machine Co., Ltd., Scanmaskin Sverige AB, Levetec, Stonekor company, Linax Co ltd., and Tyrolit Construction Products GmbH.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.