South America Floor Cleaning Equipment Market Research Report, 2027

The demand for floor cleaning equipment has always seen to elevate because of the rise in the number of areas where they are used as an increase in the number of residential areas, industrial areas, etc. The floor cleaning equipment market has been seen to be developed by the time and many improvements and convenient measures lead to its spread at the global level and hence its popularity increased. The research report titled, “South America Floor Cleaning Equipment Market Research Report, 2027”, by Actual Market Research categorizes the market to forecast the revenues and analyze the trends in each of the following segments: based on product type (Vacuum Cleaner, Floor Scrubber, Floor Sweeper, Others), based on application (Residential & Commercial), based on countries & major companies. South America is the least contributing region globally, which was valued at USD 0.49 Billion in 2016, contributing to merely a single-digit share of the global market. The overall market in South America is growing due to the rising awareness of both chronic and acute diseases, which is leading to a greater hygiene and health consciousness among the people in the region. During the forecasted period, the South America floor cleaning equipment market is expected to exhibit a CAGR of over 9%. The demand for products with higher performance and environmental-friendly characteristics is gradually increasing in the region. Since most of the countries in the region are still economically backward when compared to the global standards, they tend to use cheaper products. The people in South America, therefore, prefer cleaning equipment that is affordable and environmentally friendly. Therefore, the high cost of these equipment act as a major market restraint in the region. The opportunity to create cheaper equipment can help the companies to penetrate the market. The vacuum cleaner segment in the region accounted for more than 65% of the market share in 2021, declining marginally ever since, still dominating the market. The rising standards of living and growing disposable incomes are also driving the industry forward in the region. The region’s increasing population which is majorly in the demographic of under-30-year olds along with the rising spending power is also driving the industry growth in recent times. This shift in population demographic is also bolstering the growth during the forecast period between 2022 and 2027 The cordless electric brooms, robot cleaners, and other newer cleaning equipment in the region are expected to gain popularity attributing to their ease of use & sustainability. These products classified under the other segment are expected to grow over with an anticipated CAGR of over 10%. The increasing health and hygiene consciousness, especially among the younger consumers, is propelling the industry growth for the residential use of these products. The online availability of floor cleaning products makes them more accessible to a larger population, thus, further aiding the growth of the South American market. The residential use of floor cleaning equipment is anticipated to grow over 13% through the forecasted period. The increase in the innovations of products and the penetration of multiple brands in the region between 2016 and 2021 have supported the growth of the South American market. The diversification of products available has led to an increased demand for these goods in the region. The commercial use of these products is high in the region which held a market of 85% throughout. Brazil is the leading country in South America which is being aided by the recovering economy. The country represents lucrative expansion chances for the major global players. Brazil, along with Argentina accounted for more than half of the region’s market share, both declining in terms of share. With an expansion in the hospitality and construction sector, the market floor cleaning equipment is expected to bloom in the region. In the region, companies are coming up with renting facility of cleaning equipment rather than purchase for the corporates is the opportunity for the cleaning equipment market. COVID-19 impact The market in the region was greatly affected by the pandemic in both positive as well as negative way. The positive impact was created with the higher need of hygiene during the pandemic which was a measure to curb the spread of the virus. On the other hand the economic distress created by the virus in the region declined the growth of the market, as consumers were looking to cut down on non-essential expenses. Major Companies in the market Nilfisk Group, Alfred Kärcher GmbH & Co. KG, Amano Co., Diversy, Dyson, EUREKA,; iRobot, Miele, Electrolux, etc. This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For this study, Actual Market Research has segmented the South America Floor Cleaning Equipment Market report based on product, technology, end users, and region: Considered in the report • Geography: South America • Base year: 2021 • Historical year: 2016 • Forecasted year: 2027 Countries covered: • Brazil • Argentina • Colombia 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) • Market Share by Region • Market Share by Country • Market Share by Company 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.