Floor Grinding Tools Market Industry - Global Growth Drivers, Share, Size & New Opportunities

The market size for global floor grinding tools market size is projected to grow from USD 124 million in 2022 to USD 155 million by 2027, at a CAGR of 4.5% from 2022 to 2027. The growth of the floor grinding tools market is attributed to the booming construction sector, rise in renovation & remodeling activities, and rapid urbanization & globalization. In 2020, the floor grinding tools market had a nominal impact on its demand due to COVID-19. Slowing raw material production, supply chain disruption, hampered trade movements, declining construction demand, and reduced demand for new projects also have hampered market growth.

Browse 218 market data Tables and 38 Figures spread through 191 Pages and in-depth TOC on "Floor Grinding Tools Market by Application (Grinding, Honing, Polishing, Burnishing), Floor Type (Concrete, Wood, Marble), Polishing Type (Dry Polishing, Wet Polishing), Region ( North America, Europe, APAC, MEA, RoW) - Global Forecast"

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The floor grinding tools market has major players including Husqvarna Group (Sweden), Shenzhen Idimas Holding Co., Ltd. (China), Tyrolit Group (Austria), Diamag (Netherlands), and Klindex (Italy) , among others. These players have adopted various growth strategies, such as mergers & acquisitions to increase their market shares and enhance their product portfolios.

Husqvarna Group is the largest player in the floor grinding tools market, with 22.1% in 2021. Husqvarna Group manufactures outdoor power products for forest, park, and garden care. Further, the company provides garden watering products, cutting equipment and diamond tools for the construction and stone industries. The company operates its business through the mentioned segments: Husqvarna Forest & Garden, Gardena, and Construction. The Husqvarna segment comprises outdoor products, including chainsaws, trimmers, and mowers for forest, park, and garden care. The Gardena segment consists of garden watering and hand tools. The consumer brands segment focuses on product offerings related to forests and gardens. The construction segment includes professional equipment and diamond tools which are used for cutting and drilling concrete, stone, tile, asphalt, and masonry. The company's largest end markets are North America and Europe.

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Tyrolit Group is the second-largest player in the floor grinding tools market, with a share of 2.3% in 2021. It is one of the leading manufacturers of bonded grinding, cutting, sawing, drilling, and dressing tools. The company was established in 1919 and is headquartered in Schwaz, Austria. It operates through 29 production sites in 11 countries worldwide. It manufactures around 80,000 different products in three business divisions: Construction, Metal/Precision, and Stone–Ceramics–Glass.

Diamag is the third-largest player in the floor grinding tools market, with a share of 1.9% in 2021. It is a global manufacturer of diamond products for the surface preparation industry. Diamag develops diamond solutions for planetary grinders, single disc grinders, burnishers, and other grinding-related machines. The company's product line includes diamond cup wheels from Ø50 mm to Ø180 mm, diamond discs Ø250 mm, PCD tools, diamond wings for planetary grinders, polishing tools, and bush hammering tools.

The global floor grinding tools market size is projected to grow from USD 124 million in 2022 to USD 155 million by 2027, at a CAGR of 4.5% from 2022 to 2027. The thriving construction industry, a  significant development in the retail, commercial, and hospitality segments, technological advancements, and innovations in the flooring industry, and shifting demand toward modern and fast construction techniques are driving the floor grinding tools market.

Wood floor type is the fastest gorwing segment due to the hardwood flooring is preferred in residential construction as it is stylish and durable. The variety of wood colors, patterns, and styles make it appealing.. Furthermore, owing to the high demand for wood grinding, major manufacturers are launching specific products for floor grinding. EZ SL SERIES by Husqvarna Group provides wood grinding tools, a single-layer diamond tool specifically developed for efficient initial grinding of wood.

The wet segment is the fastest growing segment the floor grinding tools market, with a CAGR of 5.01% in terms of value, in 2021. Wet polishing is one of the oldest ways of polishing floors. In the wet polishing method, the water is applied on the floor, which captures the dust in the slurry. Therefore, it does not impact the air environment for the masons or workers preventing the hazards of silica dust.

Infrastructure spending is a key driver of the global and regional economies. It is expected that spending on capital projects and infrastructure will grow significantly over the next decade. China, India, and other countries in the Asia Pacific, along with South Africa and Brazil, are investing considerably in infrastructural development.