October 24, 2022 04:00 ET | Source: Market Research Future Market Research Future
New York, New York, UNITED STATES Electric Toaster With Screen
New York, US, Oct. 24, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Industrial Floor Scrubber Market Research Report: Information By Type, End-Use and Region - Forecast till 2030, the market is anticipated to acquire a valuation of approximately USD 4611.3 Million by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 8% during the assessment timeframe.
Industrial Floor Scrubber Market Key Players
Eminent market players profiled in the global industrial floor scrubber market report include-
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Preference of Industrial Scrubbers over Traditional Cleaning Methods to Boost Market Growth
Scrubbers have several advantages over traditional cleaning techniques, including great cleaning effectiveness, ease of use, and faster dry time. This will bolster market growth in the forecast period.
Booming Tourism Sector to offer Robust Opportunities
Another aspect increasing product demand in the hospitality sector is the rising tourism. Hospitality organizations provide lodging, culinary services, and even entertainment, resulting in a significant number of daily footfalls. This industry's facilities include a wide range of surfaces that require regular cleansing.
High Cost to act as Market Restraint
The high cost of industrial floor scrubbers, strict certification norms for the floor scrubbers, and obtainability of huge international & national key players may act as market restraints over the forecast period.
Industrial Floor Scrubber Market Segmentation
The global industrial floor scrubber market is bifurcated based on end-use and type.
By type, robotic floor scrubber will lead the market over the forecast period.
By end-use, healthcare will dominate the market over the forecast period.
During the COVID-19 (coronavirus) epidemic, demand for industrial floor scrubbers is increasing as healthcare facilities increase efforts to assure adequate disinfection of floor surfaces. In the contemporary industrial floor scrubber industry, the concept of contact-free cleaning, as opposed to manual cleaning methods such as mopping, is gaining popularity. As a result, players in the industrial floor scrubber market are profiting on the contact-free cleaning trend and expanding their manufacturing capacities. Because floor cleaning equipment is classified as essential commodities, manufacturers can engage in revenue-generating activities even in the midst of the COVID-19 outbreak. Customers in various value chains, such as hotel, retail, culinary, and government, are now using floor scrubbing equipment. Customers are getting more aware of the benefits of mechanical cleaning.
Industrial Floor Scrubber Market Regional Analysis
North America to Head Industrial Floor Scrubber Market
Because of the presence of significant important players, North America dominates the industrial floor scrubbers market. Furthermore, the increased demand for retail sector will drive the growth of the region's industrial floor scrubbers market during the projection period. In 2019, North America had the highest revenue share of 30.58%. This is because key market participants such as Tennant Company, Diversey, Inc., & Nilfisk Group are present. From 2020-2027, the industry is expected to rise due to rising retail demand. For example, Walmart revealed in October 2018 that it is utilizing Auto-C automated scrubbers in 78 stores across the United States. The retailer intends to utilize these scrubbers in its other US locations as well. North America's dominance is attributable to the widespread use of floor scrubbers in every industry. Furthermore, the region's desire for robotic floor scrubbers is being driven by rising labor costs. These regions' growth can be attributable to the consolidated position of market leaders and rising demand in retail chain businesses, particularly in the United States. Furthermore, tight safety and health rules in these regions' food and healthcare sectors will aid to growth.
APAC to Have Admirable Growth in Industrial Floor Scrubber Market
The Asia-Pacific region is expected to see tremendous growth as rising countries rapidly industrialize. Furthermore, the region's growing population and increasing manufacturing and healthcare facilities are expected to drive the expansion of the industrial floor scrubbers market in the approaching years. During the projection period, Asia Pacific is expected to grow at the quickest CAGR of 7.1%. This is due to the rising industrialization of developing countries like China and India. China is regarded as the industrial powerhouse, whereas India's manufacturing industry is expanding as a result of the "Make in India" push. According to the India Brand Equity Foundation (IBEF), India's manufacturing sector is predicted to exceed USD 1 trillion by 2025, with corporations such as Vivo Mobile Communication Co., Ltd. and Morris Garages investing heavily in Indian manufacturing. The number of manufacturing facilities is predicted to grow, resulting in increased demand for floor scrubbers. Due to rising population and expanding manufacturing and healthcare facilities, Asia Pacific is expected to be the most appealing region in the industrial floor scrubber market throughout the forecast period. To fulfill the expanding need for industrial floor scrubbers, the region's number of regional manufacturers is growing.
The majority of Asia Pacific countries are experiencing considerable growth in the worldwide professional cleaning business. The amazing expansion in industrial cleaning services is due to rising disposable income, the rising innovations in small & large industrial applications, and a sharp increase in regional construction activity. For example, China's one belt, one road infrastructure initiative is expanding manufacturing and construction activity throughout the region, boosting the growth of the regional industrial floor scrubber market. While China is expected to dominate the Asia Pacific industrial floor scrubbers market, nations such as Australia, Singapore, and India are also contributing at a faster rate. The region's demand for floor scrubbers will be significantly boosted by industrialization trends and favorable government policies for local manufacturing sectors led by China and India. Concerns about the covid-19 virus will also boost demand in these countries in the short run.
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