The "Global Grinding Tools Market Forecast to 2027" report published by MarketsAndMarket estimates that the segment will grow from $124 million in 2022 to $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 increasing consumer preference for polished floors in residential buildings. The rising demand for residential, commercial, and healthcare buildings is driving the demand for floor grinding tools.

In 2020, the floor grinding tools market was significantly affected by the COVID-19 pandemic, with a substantial decline in its CAGR. However, recovery was observed with a positive impact on the floor grinding tools market due to increased demand in the construction sector in 2021.

Some of the prominent key players are:

1. Husqvarna Group (Sweden)
2. Tyrolit Group (Austria)
3. Diamag (Netherlands)
4. Klindex (Italy)
5. Shenzhen Idimas Holding Co., Ltd. (China)
6. SASE Company, LLC (USA)
7. Balstrac (USA)
8. Scanmaskin Sverige AB (Sweden)
9. DRS Floor (Germany)
10. Superabrasive Inc. (USA)

Opportunity: Expansion of Non-Residential and Infrastructure Construction Activities

Infrastructure spending is a key driver of global and regional economies. China, India, and other Asia-Pacific countries, along with South Africa and Brazil, are making significant investments in infrastructure development.

This investment is necessary for modernization and commercialization. According to the Organisation for Economic Co-operation and Development, the total global investment in infrastructure is estimated at around $50 trillion by 2030.

Non-residential construction activities are expected to accelerate in the next decade. Mature markets such as the USA, Argentina, Mexico, Eastern Europe, and Middle Eastern countries are likely high-potential markets for top contractors due to attractive long-term infrastructure investment opportunities.

The polishing application segment is estimated to be the second-largest market

Polished concrete and marble are preferred floors in new buildings due to their durability, aesthetic appeal, ease of maintenance, and longevity.

Several manufacturers are promoting polished concrete within the green movement, as it can help them achieve LEED (Leadership in Energy and Environmental Design) ratings for their organizations.

The increasing demand for green and energy-efficient buildings and the acceleration of new residential and commercial space construction are likely to support the growth of floor grinding tools in polishing applications during the forecast period.

North America is the second-largest market for floor grinding tools

The North American floor grinding tools market includes the USA, Canada, and Mexico. North America has been a global leader in product innovation in terms of quality. The USA and Canada are the most developed countries in North America.

In 2021, the construction industry experienced rapid growth in the USA and Canada, with continued growth in the residential sector driving the demand for housing units.

The growth rate is expected to improve as their governments intend to invest in infrastructure development through smart city projects, which will add momentum to the construction industry in the region.