According to the latest market research study by Technavio, the global floor pad market is expected to grow at a CAGR of close to 4% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global floor pad market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the end-user
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The top three revenue contributing end-user segments are discussed below:
Global floor pad market for manufacturing: The global manufacturing market is expected to witness a slow growth rate in advanced economies, mainly in North America and Europe owing to Brexit concerns and political uncertainty. However, the market is expected to grow at a faster pace in the developing countries of APAC.
“In APAC, the manufacturing sector is expected to grow at a faster pace than other developed regions. The region is expected to witness a rise in the domestic demand due to the upsurge in disposable income, higher employment, lower commodity prices, and macroeconomic stimulus. The region provides beneficial avenues for vendors to diversify their operations in the global floor cleaning pads market,” says Abhay Sinha, a lead analyst at Technavio.
Global floor pad market for warehouse and logistics: The warehouse and logistics segment occupied the second highest share in the global floor scrubbing pads market. The segment is expected to continue its position by growing at an accelerated rate during the forecast period.
Global floor pad market for hospitality: The overall growth of the global hospitality industry is due to the increase in tourism, technology and continuous economic growth of emerging economies. The growth of the hospitality sector has a direct impact on the industrial floor scrubbers market. Hotels need to ensure that the environment is clean and hygienic for their customers. Various floor pad manufacturers offer products and solutions that can be used in the hospitality industry. Therefore, with the hospitality sector growing at a tremendous pace, the market for floor pads looks promising.
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The top vendors operating in the global floor pad market are:
- 3M
- Americo Manufacturing
- Newell Brands
The other prominent vendors in the market include Electrolux, ETC of Henderson, Janex Floor Products, Jon-Don, Parish Maintenance Supply, and Saint-Gobain.
A more detailed analysis is available in the Technavio market research report titled, ‘Global Floor Pad Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Industrial Floor Scrubber Market 2017-2021
- Global Sponge and Scouring Pads Market 2017-2021
- Global Contract Cleaning Services Market 2017-2021
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