Floor cleaning machines market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation – Technavio

NEW YORK, Jan. 24, 2023 /PRNewswire/ — According to Technavio, the global floor cleaning machines market size is estimated to grow by USD 2,426.45 million from 2022 to 2027. The market is expected to grow at a CAGR of 4.9%. Moreover, the growth momentum will accelerate. North America will account for 43% of the growth of the global market during the forecast period.

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Global floor cleaning machines market – Five forces
The global floor cleaning machines market is fragmented, and the five forces analysis covers–

• Bargaining power of buyers

• The threat of new entrants

• Threat of rivalry

• Bargaining power of suppliers

• Threat of substitutes

• For an interpretation of Porter’s five forces model – buy the report!

Global floor cleaning machines market – Customer landscape 

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global floor cleaning machines market – Segmentation assessment

Segment overview
Technavio has segmented the market based on application (professional cleaning equipment and consumer cleaning equipment) and product (floor scrubbers, vacuum cleaners, floor sweepers, and others).

• The professional cleaning equipment segment will grow at a significant rate during the forecast period. This equipment includes high-pressure cleaners, vacuum cleaners, carpet and upholstery cleaners, steam cleaners and steam vacuum cleaners, scrubber driers, sweepers and vacuum sweepers, floor scrubbers and scrubber dryers, rider scrubbers, rider sweepers, walk-behind scrubbers, walk-behind sweepers. Professional floor cleaning machines are used in building service contractors and commercial establishments such as hotels, retail, business offices, gymnasiums, restaurants, and entertainment centers. They are also used in public buildings such as government offices, hospitals, schools, and transportation centers. Therefore, the use of professional cleaning equipment in various sectors, such as commercial, industrial, aviation, and retail, is expected to drive the growth of this segment during the forecast period.

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Geography overview
Based on geography, the global floor cleaning machines market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global floor cleaning machines market.

• North America is estimated to account for 43% of the growth of the global market during the forecast period. The growth of the regional market depends on the construction of residential and non-residential buildings. In the US, with the increasing number of new housing starts, the residential construction segment will grow significantly. In Mexico, the rise in manufacturing output, driven by the automotive sector and its ancillary industries, will boost non-residential infrastructure development. These factors will increase the demand for floor cleaning equipment in the region during the forecast period.

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Global floor cleaning machines market – Market dynamics
Key factor driving market growth

• The demand for janitorial cleaning services is driving the market growth.

• The janitorial segment of the global cleaning services market comprises vendors that offer services such as cleaning the interiors and exteriors of buildings and transportation modes such as aircraft, cars, rail, and ships.

• Vendors of such services are expected to emerge as key consumers of floor cleaning products owing to the rising demand from offices, educational institutions, and retail complexes.

• In addition, the global economic growth will also drive the future growth prospects of this segment.

• These factors will fuel the growth of the global market during the forecast period.

Leading trends influencing the market 

• Rising investments in R&D are a key trend in the market.

• Some of the innovative applications and solutions in the market are the inclusion of room memory, improved battery life, and higher efficiency of products.

• Vendors are also working on reducing the cost of maintenance and upgrades.

• Moreover, technological advances and changes in consumer preferences are encouraging vendors to offer innovative and highly-efficient floor scrubbers.

• These factors will support the growth of the global market during the forecast period.

Major challenges hindering market growth

• The availability of low-cost manual labor in developing countries is challenging the global floor cleaning machines market growth.

• In countries such as India and China, the demand for floor-cleaning equipment is low due to the availability of low-cost labor.

• The informal economy accounts for a substantial and important portion of the labor force in many developing countries in APAC.

• Moreover, the labor share of GDP in several countries in the region has been declining.

• Such factors are expected to impede the growth of the global floor cleaning machines market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!

What are the key data covered in this floor cleaning machines market report?

• CAGR of the market during the forecast period

• Detailed information on factors that will drive the growth of the floor cleaning machines market between 2023 and 2027

• Precise estimation of the size of the floor cleaning machines market and its contribution to the parent market

• Accurate predictions about upcoming trends and changes in consumer behavior

• Growth of the floor cleaning machines market across North America, Europe, APAC, South America, and Middle East and Africa

• A thorough analysis of the market’s competitive landscape and detailed information about vendors

• Comprehensive analysis of factors that will challenge the growth of floor cleaning machines market vendors

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Table of contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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