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 (2022 – 2030).Floor grinding machines are used to polish concrete, marble, and granite. These machines typically handle and crush the concrete surface with less friction. The floors are ground using diamond tools, such as diamond grinding cup wheels.
The market is expanding due to factors like the increase in urbanization and the construction industry's recovery. Additionally, the urban population is expected to increase by 2050, increasing the demand for floor grinding machines for new homes. Additionally, the rise in living standards, especially in developing nations, encourages floor renovation and repair, which fuels market expansion. However, high maintenance and repair costs are anticipated to restrain market expansion. Additionally, the expansion of the global machinery and equipment manufacturing industries and manufacturing technological advancements present lucrative growth prospects for the market's players during the forecast period.
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Recovery in the Construction Industry
The trend shows that the rise in demand for construction developments primarily drives the growth of the floor grinding machine market. The need for three-head floor grinding machines is increasing along with the rise in demand for industrialization, residential, and commercial infrastructure setup. In emerging economies like India and China, commercial development is expected to create a need for floor grinding machines and positively influence market growth. In addition, the expansion of the real estate market contributes to the growth of the floor grinding machine market.
Expenditure on residential infrastructure development has been witnessed to increase. According to the Global Infrastructure Outlook, by 2040, the world's population is expected to increase by about two billion, with urban people expected to increase by 46%. This will result in huge demand for support for residential and commercial infrastructure. The construction sector of Asia-Pacific and LAMEA is expected to witness growth due to the government’s plan to complete several infrastructure projects. These projects include the construction of regional airports, roads, rail networks, and power plants. For instance, in October 2019, the government of South Korea and the Inter-American Development Bank (IDB) collaborated to invest around US$1.3 billion in Latin American smart city projects.
An increase in urbanization is expected to fuel the expansion of the global construction sector, which will boost the market growth. Residential construction has increased due to development in transportation, high immigration, new inventions, and high investment, majorly in the Asia-Pacific region. Moreover, increased urbanization results in increased construction activities, fueling the demand for floor grinding machines.
Increase in Spending on Home Remodeling
One of the driving factors of the floor grinding machine market is increased investment in interior design. Homeowners, proprietors, and office owners across the region who require attractive marble and granite floors hire interior designers to plan, design, and supervise the interiors of their construction projects. They have been focusing on remodeling their homes and offices following their design tastes, practical requirements, and financial capabilities. Additionally, the recent market growth is driven by increased consumer spending on home remodeling in the United States and other developed nations. According to industry sources, the strengthening of the economy and recovering house prices have led to increased spending by owners on home remodeling projects.
High Maintenance and Repair Cost
The floor grinding machine requires high maintenance and repair costs post any crash impact to ensure product life span expansion, which is expected to reduce the demand for the same. For example, the repair of six head floor grinding machine incurs an extra charge, especially if it is equipped with automatic and other technology. Similarly, one or two head floor grinding machines require additional maintenance and replacement of grinding heads after some time. These act as a restraint on the market growth. Moreover, troubleshooting with six head floor grinding machine is common, thus needs repairs and timely maintenance to secure the respective site.
Technological advancements by manufacturers such as Husqvarna, Klindex, Scanmaskin, and others have increased the demand for floor grinding machines. Further, introducing advanced features such as auto leveling planetary system technology and battery-powered for independent tractions has witnessed high demand as it eliminates the need for physical inspection.
As installing wireless remote control in floor grinding machines has improved the labor-intensive task, many companies are offering advanced floor grinding machines. For instance, Sweden-based Husqvarna offers a floor grinding machine with dual drive technology, which allows the planetary head and grinding discs to be set in both counter directions and the same direction rotation.
The global floor grinding machines market is classified into head type, application end user, and region.
By head type, the global 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. The three & four-head floor grinding machines are compatible with the dust collection system and magnetic adapter plates, which makes them popular for concrete and marble flooring applications. The three & four grinding head machine is ideal for grinding and polishing floors owing to its adjustable pressure distribution and offers a perfect polished finish. Furthermore, the manufacturer of floor grinding machines offers new technology for grinding and polishing floors, which drives the market growth during the forecast period. For instance, in April 2017, Sweden-based Husqvarna introduced PG 820 RC with dual drive technology and wireless remote control. The dual drive technology offers 30% higher productivity and allows the planetary grinding heads to rotate counter and same direction.
By application, the global 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. Three & to four head floor grinding machines are adopted for concrete grinding and polishing services owing to their advantageous features such as durability, low maintenance, environment-friendly, and others. Moreover, the grinded concrete floors need less maintenance than the other surface. There is an increase in the trend of installation of concrete flooring in the non-residential sector, which fuels the demand for floor grinding machines as grinding the concrete floor creates a beautiful surface at a low cost. Furthermore, many companies are focusing on developing innovative floor grinding machines, which offer lucrative growth opportunities for the market players during the forecast period. For instance, in January 2019, HTC, a Taiwan-based company, developed a new line of concrete floor grinders for professional users to grind small to medium-sized areas efficiently.
The marble and granite segment is the second largest. The marble and granite floor needs polishing due to the unevenness of the surface, which causes a lack of shine. The smooth surface reflects more light as compared to the uneven surface. The floor grinding machines eliminate the marble and granite flooring surface's zigzag surface. Moreover, companies such as Klindex, Achilli Srl, and others offer a wide range of floor grinding machines for marble and granite floors equipped with thermo-hardened steel gears. Such factor fuels the demand for floor grinding machines. Furthermore, the growing adoption of natural stone for flooring applications drives the market growth during the forecast period. For instance, in 2018-2019, there has been an increase in the import of marble blocks in India due to the liberalization of import policy.
By end user, the global 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. The rapid population surge and economic growth have led to an increase in infrastructure & development-related projects, especially in emerging economies. For example, India witnessed 33 deals for infrastructure development worth 3.49 billion dollars from 2016 to 2017. Thus, an increase in the number of residential complexes, and the development of infrastructure, especially in emerging economies such as India, China, Bangladesh, and Africa, are expected to drive the market growth. In addition, government programs for affordable housing help boost the demand for residential properties. For example, China completed more than 7 million affordable housing units in urban areas between 2015 and 2017.
By region, the global floor grinding machine market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Asia-Pacific was the highest revenue contributor and is estimated to grow at a CAGR of 3.7%. Asia-Pacific is an emerging economy where the floor grinding machine market is growing, owing to increased infrastructure development projects. Economic recovery and growth in construction demand significantly drive market growth. China is the major revenue contributor in the Asia-Pacific region. Earlier the country faced a downfall owing to slow growth in the construction industry, but now it is expected to grow faster due to economic recovery and increased construction demand. Countries such as India, South Korea, and China have the most critical construction sites and are investing in public works such as the construction of highways, airports, and buildings on a large scale. An increase in demand for floor grinding machine from residential and commercial sectors due to growth in urbanization drive the market. In addition, repairing and remodeling works in developed countries also propel the demand for floor grinding machines in Asia-Pacific. China is one of the most valued construction markets in Asia-Pacific, and China’s construction expenditure is expected to increase every year until 2030. China is expected to experience growth in the construction market owing to a rise in income levels, rapid urbanization & industrialization, an increase in population, and a surge in household income growth.
Similarly, the Indian construction industry experiences growth mainly due to a continuous increase in infrastructure investments in the country. India has become a favorable destination for exporting floor grinding machines mainly due to the ongoing demand from the construction industry. Furthermore, residential and infrastructure segments of the market dominate in the Asia-Pacific region owing to the continuous growth of urban demographics for better infrastructure.
Europe is the second largest region. It is projected to reach USD 95 million by 2030, registering a CAGR of 2.6%. The European construction industry has been in its recovery phase since 2014. The eastern European countries such as Bulgaria, Romania, and Slovakia are expected to witness increased construction spending in the infrastructure segment, thus, having a positive impact on the demand for floor grinding machines. Russia contributes to around 50% of the overall construction expenditure in Eastern Europe. This expenditure is expected to grow, owing to the construction of both infrastructure and structures, such as stadiums, hotels, and retail buildings, thereby accelerating the construction market's growth. As a result, the demand for floor grinding machines will witness significant growth during the forecast period.
North America is the third largest region. Increased adoption of marble and granite for flooring in the U.S. and Canada fuels the growth of the market in North America. The rise in population and rapid urbanization are expected to drive the demand for the non-residential sector, thereby accelerating the need for affordable buildings and structures. The significant increase in the demand for residential infrastructure in Mexico is also expected to propel the market growth in the region. Moreover, advances in overall economic conditions drive the growth of the floor grinding machine market in North America. Furthermore, investments in residential infrastructure, government infrastructure, and commercial projects are also expected to support the market growth in this region during the forecast period.
The key players 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, Linux Co ltd, Stonekor Company, and Tyrolit Construction Products GmbH.