Floor Pad Market Size to Grow USD 159 Million by 2030 at a CAGR of 6% | Valuates Reports
PR Newswire
BANGALORE, India, April 11, 2024
BANGALORE, India, April 11, 2024 /PRNewswire/ -- Floor Pad Market is Segmented by Type (PVC Pads, Fabric Pads, Rubber Pads), by Application (Commercial, Industrial, Residential)
The Floor Pad Market size for 2023 amounted to 105 Million USD, which then grew to 112 Million USD in 2024, and is projected to reach 159 Million USD by 2030, reflecting a compound annual growth rate (CAGR) of 6% between 2024 and 2030.
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Major Factors Driving the Growth of Floor Pad Market
The market for floor pads is expected to grow due to a number of factors, including the growing need for efficient floor maintenance solutions from the commercial sector, technological advancements that improve product durability and efficiency, growing consumer awareness of sustainability and its impact on preference for eco-friendly options, the adoption of automated cleaning systems that necessitate the use of specialized floor pads, and the expansion of clean-focused industries like hospitality and healthcare.
Furthermore, the need for floor pads across a variety of industries globally is increased by urbanization and infrastructure development projects, the move towards contract cleaning services, economic recovery, and industrial revival.
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TRENDS INFLUENCING THE GROWTH OF FLOOR PAD MARKET
The increasing need for efficient floor maintenance solutions across a range of industries and commercial spaces is driving growth in the floor pad market. The need for floor pads—which are necessary equipment for maintaining clean, attractive floors—keeps growing as more and more businesses realize how important it is to keep their floors looking nice. High-quality floor pads are becoming more and more necessary in retail establishments and healthcare institutions to guarantee that safety and hygienic requirements are fulfilled.
The floor pad industry is expanding because of urbanization and infrastructure development initiatives, especially in emerging markets. Buildings for use by the public, retail malls, and commercial and residential tenants all rise in tandem with the growth of urban populations. The floor pad market is significantly driven by the growth of the commercial sector, which includes hotels, malls, entertainment venues, and workplaces. Floor pads are becoming more and more in demand as business areas expand globally. The need for floor pads is being driven by the need for these facilities to maintain their hygienic standards and aesthetic appeal via frequent cleaning and maintenance.
Environmentally friendly floor pad solutions are becoming more and more popular as consumers become more conscious of sustainability and eco-friendly activities. Demand for floor pads manufactured using sustainable materials and manufacturing techniques is growing as companies and consumers become more aware of their environmental impact. In response to this trend, manufacturers are expanding the market by providing eco-friendly floor pads. The market for suitable floor pads is being driven by the growth of automated cleaning technologies, such as robotic floor scrubbers. These systems provide large-scale floor cleaning operations in commercial and industrial environments with effective and labor-saving alternatives. The growing prevalence of automated cleaning is driving up demand for specialized floor pads that are engineered to integrate easily with these systems, hence stimulating market expansion.
The healthcare industry has a substantial market potential for floor pads because of its strict standards for cleanliness and sanitation. High-performance floor pads help hospitals, clinics, and other healthcare institutions keep their environments clean and stop diseases from spreading. The need for floor pads in the healthcare sector is growing due to the industry's global expansion brought on by factors including population growth and rising healthcare spending. The need for floor pads is being driven by the trend towards contract cleaning services in a number of industries, including corporate, retail, and hospitality. To maintain high standards of cleanliness and economy, a lot of organizations are contracting out their cleaning needs to qualified service providers.
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FLOOR PAD MARKET SHARE ANALYSIS
The need for premium floor pads is always there in developed areas like North America and Europe, where there is a robust business sector and strict hygiene regulations. Additionally, the use of automated cleaning equipment and technical developments fuel market expansion in these areas.
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Key Companies:
- 3M
- Saint-Gobain
- Americo Manufacturing
- Newell Brands
- Electrolux
- ETC of Henderson
- Janex Floor Products
- Jon-Don
- Parish Maintenance Supply
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
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