The analysts of a fresh business and commerce study by Transparency Market Research (TMR) have notified that the global industrial floor scrubbers market is largely fragmented in nature, a few player do hold slightly stronger position than the rest. The report has identified Bortek Industries, Wiese, Inc., and Hako Holding GMBH & Co. KG are three companies who were ahead of the curve in the world industrial floor scrubbers market in 2016, although the continuous inflow of new entrants will continue eat into their shares. For the market leaders, the key strategies are to expand their geographical footprint and concentrate on strengthening their research and development activities, consequently making it difficult for smaller players to compete in terms of technology, reliability of products, and price. Tennant, Nilfisk, Tornado, Comac, Fimap, iRobot Corporation, and IPC Gansow are some of the other notable players currently aspiring greater shares in the global industrial floor scrubbers market.
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Global Industrial Floor Scrubbers Market to be worth US$6.62 bn by 2025
If the projections of the TMR report are to be believed, during the forecast period of 2017 to 2025, the demand in the global industrial floor scrubbers market will increment at an impressive CAGR of 8.5%. By the end of the forecast period, 2025, the analysts have estimated that the opportunities in the market will translate into a revenue of US$6.62 bn, considerably up from its evaluated worth of US$3.24 bn in 2016. In the near future, development of new products that ideally meet the diverse demands from the end users is expected to define the leader of an intensely competed vendor landscape.
Based on type, the report has segmented the global industrial floor scrubbers market into ride-on scrubbers, walk-behind scrubbers, and robotic scrubbers. As of 2017, the walk-behind scrubbers segment provided for more than half (51%) of the total demand, although the robotic scrubbers segment is primed to grow at a stronger CAGR during the said forecast period. This escalating demand for robotic scrubbers is a reflection of persistent aspiration of various industries to adopt automation methods that improve efficiency of monotonous procedures and hence achieve incremented production. On the basis of end-use industry, the market for industrial floor scrubbers has been bifurcated into healthcare and pharmaceuticals, transportation, hospitality, education, government, retail and food, and manufacturing and warehousing. Geographically, the report highlights North America as most lucrative region, which provided for 33.5% of the total demand, while Europe emerged as second-leading regional market the same year.
Flourishing Tourism and Hospitality Sector Driving Demand
The prosperity of the hospitality and janitorial industry is the primary driver of the global industrial floor scrubbers market, feeding off increasing number of tourists traveling to different parts of the world and depending on the hospitality industry for lodging purposes. For instance, Hotel operator Hyatt opened as many as ten new hotels across the world in 2016 and a number of its competitors are also expanding. Hotels and restaurants owners put particular emphasis on maintain cleanliness of their hospitality outlets including rooms and receptions and frequently resort to floor cleaning services to achieve optimum quality for their esteemed guests. Technological advancements that have paved way for efficient floor scrubbing and growing construction in non-residential sector are two other drivers of the global industrial floor scrubbers market.
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Availability of Low-cost Labor in Emerging Economies Obstructing Prosperity
On the other hand, low level of industrialization in a number of emerging economies and availability of low-cost labor in these countries who can perform manual processes are a few factors obstructing the prosperity of the global industrial floor scrubbers market. That being said, the upward trend in the U.S. chemical industry and increased investment on research and development activities are expected to yield fruitful opportunities during the course of the forecast period.