Global Floor Grinding Machine Market to Grow at a CAGR of 3.3% by 2030.

Introduction

Floor grinding machines are grinders used for grinding and polishing marble, granite, and concrete. Typically, these devices are meant to grind concrete surfaces with minimal friction. For grinding floors, diamond instruments like diamond grinding cup wheels are utilized.

The market is growing due to the construction industry's recovery and urbanization's expansion. In addition, the urban population is predicted to increase by 2050, boosting the demand for residential floor grinding machines in the near future. In addition, the rise in living standards, particularly in developing nations, encourages the repair and refurbishment of floors, which drives floor grinding machines market expansion.

Market Dynamics

Recovery in the Construction Industry to Drive the Global Floor Grinding Machine Market

The market for floor grinding machines is primarily driven by the rising demand for construction projects, as indicated by the market trend. Along with the rise in demand for industrialization, residential, and commercial infrastructure installation, the need for three-head floor grinding machines is also rising. Commercial development is anticipated to generate a need for floor grinding machines in growing economies such as India and China, hence positively influencing the market's growth. In addition, the increase in the real estate sector leads to the need for floor grinding machines.

There has been an increase in residential infrastructure development expenditures. According to the Global Infrastructure Outlook, the global population is projected to increase by about two billion by 2040, with an urban population growth of 46%, resulting in an enormous demand for residential and commercial infrastructure support. Due to the government's aim to complete several infrastructure projects, the construction industry in Asia-Pacific and LAMEA is anticipated to expand. The building of regional airports, highways, a rail network, and power plants are included in these projects. On October 2019, for instance, the government of South Korea and the Inter-American Development Bank (IDB) invested over US$1.3 billion in Latin American smart city initiatives.

A rise in urbanization is anticipated to stimulate the expansion of the global construction industry, hence boosting market expansion. Due to advancements in transportation, significant immigration, new technologies, and high investment, residential construction has increased, particularly in the Asia-Pacific region. In addition, urbanization leads to increased construction activity, which drives the demand for floor grinding machines.

Technological Advancements to Provide Opportunities for the Global Floor Grinding Machine Market

Manufacturers such as Husqvarna, Klindex, and Scanmaskin have raised the market for floor grinding machines with their technological innovations. In addition, the advent of advanced features, such as auto-leveling planetary system technology and battery-powered independent tractions, has significantly increased demand since it reduces the need for physical inspection.

As the labor-intensive task has been made easier by installing a wireless remote control in floor grinding machines, numerous businesses now provide advanced floor grinding machines. Husqvarna, located in Sweden, offers floor-grinding machines featuring dual-drive technology that permits the planetary head and grinding discs to be configured for counter- and same-direction spinning.

Regional Insights

By region, the global floor grinding machine market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific was the highest revenue contributor and is estimated to grow at a CAGR of 3.7%. Due to a growth in infrastructure development projects, the floor grinding machine market in Asia-Pacific is expanding. The market expands dramatically due to the economic recovery and expansion of construction demand. China is the most significant contributor to revenues in the Asia-Pacific region. Previously, the country saw a decline due to the building industry's sluggish growth, but this is projected to change as the economy recovers and construction demand rises. Countries such as India, South Korea, and China have essential construction sites and make substantial investments in public works such as motorways, airports, and buildings. The market is propelled due to urbanization's growing demand for floor grinding machines in the residential and commercial sectors. In addition, renovation and repair projects in developed nations drive the demand for floor grinding machines in the Asia-Pacific region.

Europe is the second largest region. It is projected to reach USD 95 million by 2030, registering a CAGR of 2.6%. Since 2014, the European construction industry has been in a recovery phase. Eastern European nations such as Bulgaria, Romania, and Slovakia are anticipated to expand infrastructure construction investment, which will favor the demand for floor grinding machines. The construction of infrastructure and structures, such as stadiums, hotels, and retail buildings, is accelerating the construction market's growth. Russia accounts for approximately fifty percent of the total construction expenditures in Eastern Europe, and this expenditure is expected to increase. Consequently, the demand for floor grinding machines is anticipated to increase significantly over the forecast period.

North America is the third largest region. Increased usage of marble and granite for flooring in the United States and Canada drives the expansion of the North American market. Population growth and urbanization are anticipated to increase the need for the non-residential sector, consequently increasing the demand for cheap buildings and structures. The considerable rise in demand for residential infrastructure in Mexico is also anticipated to contribute to the regional market expansion. In addition, improvements in general economic conditions drive the growth of the market for floor grinding machines in North America. Moreover, investments in residential infrastructure, government infrastructure, and commercial projects are anticipated to contribute to this region's market growth over the forecast period.

Key Highlights

• The global floor grinding machine market was worth USD 290 million in 2021 and is projected to reach USD 390 million by 2030, registering a CAGR of 3.3% during the forecast period (2020 – 2027).
• By head type, the global floor grinding machine market is categorized into one & two heads, three & four heads, and others. The three and four-head segment was the highest contributor to the market and is estimated to grow at a CAGR of 3.1% during the forecast period.
• By application, the global floor grinding machine market is divided into marble & granite, concrete, and others. The concrete segment was the highest contributor to the market and is estimated to grow at a CAGR of 3.2% during the forecast period.
• By end user, the global floor grinding machine market is categorized into residential and non-residential. The residential segment was the highest contributor to the market and is estimated to grow at a CAGR of 3.5% during the forecast period.

Competitive Players

Competitive Landscape

The key companies in the global floor grinding machine market include Achilli S.r.l., Blastrac, Fujian Xingyi Polishing Machine Co., Ltd., Klindex S.r.l., Levetec, Scanmaskin Sverige AB, Linax Co ltd, Stonekor Company, and Tyrolit Construction Products GmbH.

Recent Developments

Market News

• August 2022 - In acquiring the Turkish EGELI EGESAN GROUP, the Tyrolit Group continues to implement its business expansion strategy and further strengthens its position in the international abrasives market.
• June 2022 - three emission-free e-trucks from MAN will handle internal transport between the TYROLIT plants in Schwaz, Stans, and Vomp. They will replace the journeys previously made with combustion engines. The savings of the e-vehicles amount to 58 tonnes of CO2 per year – the switch, with the accompanying reduction in emissions and noise, represents an essential step in TYROLIT's ongoing sustainability initiative. With Tyrol's first e-truck fleet, the leading technology company is actively contributing to improving the quality of life around its headquarters in Schwaz with its approximately 1,200 employees.

Segmentation

Global Floor Grinding Machine Market: Segmentation

By Head

• One & Two Head
• Three & Four Head
• Others

By Application

• Marble & Granite
• Concrete
• Others

By End User

• Residential
• Non-residential

By Region

• North America
• Europe
• Asia Pacific
• LAMEA