Improvement in overall economic conditions has led to a continuous increase in construction activities over the years. This has fuelled the demand for malls, office & residential areas, which in turn is driving the growth of the Concrete Floor Grinding Machine Market. Concrete floor grinding machines are used for polishing and grinding concrete, granite, marble or any other kind of floor materials. Concrete floor grinding machines are not only utilized for grinding concrete purposes but are also utilized for polishing marble and granite countertops. Ability of these machines to work on concrete and stones make them an ideal solution for construction developers.
The demand for concrete floor grinding machines is directly proportional to the increase in the global construction industry. Nowadays, in the decorative segment, polished concrete is certainly with no doubt the burning market category. The commercial and industry flooring communities are including polished concrete as it is becoming a new standard where a combination of aesthetics, durability, reduced construction costs and minimum environmental influence is required, which in turn drive the demand for concrete floor grinding machine market.
Concrete Floor Grinding Machine Market: Drivers
Concrete floors are increasingly gaining traction in design of residential and commercial buildings owing to superior workability and performance features. Concrete floor grinding machines are extensively utilized by construction developers to improve aesthetics and mechanical properties of the designed floor. Ease of operability, enhanced efficiency in operations, and durability features of these equipment support firm growth of the market.
The growing residential sector in Asia-Pacific and North America is driving the concrete floor grinding machine market. Moreover, the wide range of end-use sectors drives the demand for concrete floor grinding machines. Companies are adding new features to concrete grinding machine portfolio such as extended life-span, ability to work on variety of floor designs and compositions, and approaching construction developers through targeted channel marketing to sustain and grow in the global concrete floor grinding machines market.
On the basis of region, the concrete floor grinding machine market has been segmented into nine regions: South East Asia, North America, Western Europe, Eastern Europe, Latin America, Japan, India, Middle East & Africa and China. Most of the construction activities are centered in Asia Pacific, North America and Western Europe. The large number of new and old building renovation projects in Asia Pacific are expected to spur the demand for concrete floor grinding machines in the region.
According to estimates, construction activity in the United States is estimated to grow by 4%, where the non-residential and residential sector is expected to grow by 2% and 6% respectively. Also, non-building is expected to grow by 4% over the forecast year. Geographically, in the U.S., as of 2018, the South and the West will likely be the key regions of growth with Texas, Nevada, and New Mexico leading that growth. Moreover, the Canadian construction industry is estimated to grow by 3% in 2018, after a decline of 1% in 2017. Growth in 2018 will be fueled by a rebound in residential construction. This, in turn, is expected to drive the demand for concrete floor grinding machines in the future.
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