According to a new report published by Allied Market Research, titled, “Industrial Cleaning Equipment Market," The industrial cleaning equipment market size was valued at $9.12 billion in 2021, and is estimated to reach $14.14 billion by 2031, growing at a CAGR of 4.3% from 2022 to 2031.
Commonly observed types of industrial cleaning equipment are floor sweepers, pressure washers, vacuum cleaners, and others. Among these, the floor sweepers segment accounted for the highest market share in 2021, owing to its application in wide range of industries. The market is analyzed with respect to different operation types, such as automatic and manual. The manual segment accounted for a high revenue share in 2021. The market is mainly driven by rise in demand for industrial processed foods and pharmaceuticals. Furthermore, on the basis of end user industry, the pharmaceutical segment is anticipated to grow rapidly during the forecast period, owing to rise in the online food retail sector, which is a result of developments in technological advancements and disposable income. However, additional operating costs of industrial cleaning equipment constraints growth of the market.
In 2021, Asia-Pacific dominated the global industrial cleaning equipment market, in terms of revenue, followed by North America and Europe. Moreover, the market in Asia-Pacific is anticipated to grow with high CAGR, owing to availability of its large pharmaceutical industry.
Advancements in industrial cleaning equipment have significantly increased usability of industrial cleaning equipment. Introduction of industrial cleaning equipment that operate autonomously are anticipated to provide lucrative opportunities for the industrial cleaning equipment market growth.
For instance, Avidbots Corp. offers a wide range of autonomous industrial cleaning equipment. Its machines do not require pre-training and can be used off the shelf. This will help in significantly reducing the operating cost.
However, during the pandemic lockdown, various manufacturers in the industrial cleaning equipment market had to stop their business in countries such as China, the U.S., and India. This break directly impacted sales of industrial cleaning equipment manufacturing companies. However, growth in the pharmaceutical industry during COVID-19, helped the industrial cleaning equipment market grow at a significant pace. Moreover, lack of manpower and raw materials constricted supply of raw materials for industrial cleaning equipment; thus, negatively influenced growth of the market. However, after two years of COVID-19 outbreak and introduction of vaccinations, severity of the pandemic has significantly reduced and key players in the market are recovering rapidly.
Key companies profiled in the industrial cleaning equipment market forecast report include Akshayaa Multi Cleaning Pvt. Ltd., Alfred Kärcher SE & Co. KG, Astol Cleantech Pvt. Ltd., Aubotz Labs Pvt Ltd, Avidbot corp., Blow-tech, Comac India, Dulevo International, Dynava, Eureka S.p.A., H&K Equipment, Kevac Srl, PressureJet, Roots Multiclean Ltd., SJE Corporation Ltd., Tennant Company, and Tornado Industries.
KEY FINDINGS OF THE STUDY
- The report provides an extensive analysis of the current and emerging industrial cleaning equipment market trends and dynamics.
- Depending on type, the floor sweeper segment dominated the industrial cleaning equipment market, in terms of revenue in 2021. It is projected to grow at a significant CAGR during the forecast period.
- By operation type, the manual segment accounted for the highest revenue share in 2021.
- By end user, the foods & beverages segment accounted for largest industrial cleaning equipment market share in 2021.
- Asia-Pacific is projected to register highest growth rate in the coming years.
- Key players within the industrial cleaning equipment market are profiled in this report and their strategies are analyzed thoroughly, which help understand competitive outlook of the industrial cleaning equipment industry.
- The report provides an extensive analysis of the industrial cleaning equipment market overview and emerging opportunities.
- In-depth industrial cleaning equipment market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.