Colombia Floor Cleaning Equipment Market Overview, 2027

Colombia Floor Cleaning Equipment Market Overview, 2027

Bonafide Research 19-09-2022 48 Pages Figures : 6 Tables : 16
Region : South America Country : Colombia Category : Consumer Goods & Services Appliances & Equipment

Floor cleaning machines are designed in a way that they clean floors, carpets, and rugs using methods like scrubbing, suction, and others, more efficiently when compared to manual cleaning. To preserve cleanliness and hygienic conditions, a lot of floor cleaning supplies are needed everywhere. Due to the expansion in the number of locations where they are used, such as residential and industrial regions, the need for such equipment is constantly on the rise. The market for floor cleaning equipment has been shown to evolve over time, and numerous advancements and practical solutions have contributed to its global expansion and, as a result, its appeal. According to the report title, “ Colombia Floor Cleaning Equipment Market Overview, 2027”, Published by Bonafide Research the market is going to witness a virtuous growth rate in the coming years in the Country. The growing demand which is induced from the developing residential infrastructure in Colombia, along with the rise in standards of hygiene in commercial sector are both the key factors driving the market during the Forecast period. The rise in demand for these equipment is also observed by the rising awareness of the consumer between the corelation of hygienic environment and personal health. The semi-automatic and automatic machines are gaining popularity in Colombia, but the high cost associated with such equipment is reducing the widespread adoption. Further, the technological advancement in the market with the integration of Artificial intelligence and IoT has increased the growth of the market, as these advancements enable real time data and convenience to the consumers. Floor cleaners are now designed to adapt to different kinds of floorings such as wood, concrete, rugs and carpets. This wide range of broadens the scope of these equipment and so drive the market with increased consumption of a wider consumer base. The market is bifurcated on the basis of product type and application type. The product type segment consists of categories like Vacuum Cleaners, Floor Scrubbers, Floor Sweepers and the other category which includes robotic cleaners and electric smart mops. The application segment consists of residential use and commercial use, all though the commercial segment has the majority of the market share in the Colombia market, the residential sector is expected to have the higher Growth rate. This higher growth rate in the country is because of the increase in the product penetration with rising concerns over personal and home hygiene standards. Furthermore, the ever developing policies of the government along with enforcing of new hygiene standards across verticals have created a demand for the floor cleaning equipment market. The changing dynamics of the Flooring trend in the commercial sector and increased usage of stones, woods and rubber materials contribute immensely to the market’s demand. The country of Colombia is experiencing a hike in construction activities which will provide lucrative future opportunity to the floor cleaning equipment market. Another factor which enabled the growth of the market is the increase in the disposable income of the country’s population, this is possible due to the rising dual-income nuclear families, who doesn’t want to or doesn’t have the time for household chores. The rising prevalence of airborne diseases and dust allergies have created the need for proper cleaning which helps the floor cleaning equipment market grow. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from Floor cleaning equipment market are anticipated to lucrative growth opportunities in the future with the rising demand for floor cleaning equipment in the market of Colombia. COVID-19 Impact The Covid-19 pandemic affected many different markets across the globe the market, the floor cleaning equipment market was affected in both positive and negative way. Firstly, the onset of lockdowns and shutting down of public infrastructure heavily impacted the demand from the commercial sector, with this the long term negative economic impact on the market hindered the demand across the country. on the other hand hospitals and other necessary public institutes which were functioning during this period demanded for proper cleaning, which helped the market sustain. Along with this the market also observed some inclination from the residential sector with people being restricted at home. Considered in the report • Geography: Colombia • Base year: 2021 • Historical year: 2016 • Forecasted year: 2027 Aspects covered in the report • Market Size by Value for the time period (2016-2027F) • Market Share by Product • Vacuum Cleaner • Floor Scrubber • Floor Sweeper • Others • Market Share by Application • Residential • Commercial • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation The approach of the report: We keep an eye on evolving markets and try to evaluate the potential of the products and services. If we find the market interesting, we start working on it and create the desired table of content, considering all aspects of the business. We start by creating separate questionnaires for C-level executives, national/regional sales personnel, company owners, dealers, distributors, and end-users. Once the questionnaires have been finalized, we start collecting the primary data (mostly through phone calls) and try to understand the market dynamics regionally or tier-wise. This process gives us in-depth details of the market, including all present companies, the top-performing products with reasons why they dominate; we get the details of new players and their innovative approaches; market trends; dynamics; and all the small details of the market. After the collection of primary inputs, we then cross-check the same with secondary sources that include associations, trade journals, annual reports, paid databases, newspapers, magazines, press releases, government sources, etc. From this, we get a rough estimate of the market and start checking existing product price variants, trade, production, raw material scenarios, policies and regulatory landscape, etc. Then, to finalize the market, we start collecting financials of each player present in the market, including limited, private limited, and LLPs. Moreover, we perform cross-industry and cross-region analysis of the product, and based on collected primary inputs and using statistical modeling, we start forecasting the market. We follow our forecasting algorithm, which is unique for each product but gives more weight age to primary inputs. At the same time, the content team starts preparing company profiles, market dynamics, market trends, five forces, PEST analysis, etc. Once the data is verified by the data expert, the team (primary team, content team, and data team) together crosscheck the segmentations, validate the market, and then the designing team starts plotting the graphs. Once the file is ready, the content team completes the report and makes sure that all the discussed points have been covered and provides their valuable inputs in the form of strategic recommendations for new as well as existing players. The QC team then checks the overall report that includes spell check, data verification, and makes the same dispatch ready and error-free. Intended Audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the appliance & Equipment industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

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