Flooring Tool Market
Flooring tools are the equipment that are used for flooring installation. Some of the flooring tools include utility knife, chalk line, paint rollers & pan, flooring roller, metal straight edge, cutting board, measuring tapes, masking or painters tape, floor buffing machines, edger sanders, and others.
Market Dynamics
Flooring tool market is majorly driven by the growth of end-use industries such as construction, coupled with increasing usage of flooring tools in these industries. Among Distribution channel, in 2021 mass retail segment contributed for largest market share in terms of value, and is expected to witness significant growth over the forecast period, followed by hardware segment.
Furthermore, growing commercial sector, increasing disposable income, changing trends in home furnishing, and changes in lifestyle are the factors that are expected to fuel demand for construction activities, which is further expected to drive growth of the flooring tool market in Europe over the forecast period.
Among regions, in 2021, Asia Pacific held dominant position in the global flooring tool market accounting for a market share of 35.8%, in terms of revenue, attributing to growing infrastructure development activities and construction industry in the region. In addition to this, Asia Pacific is expected to record fastest growth over the forecast period in the global flooring tool market.
Major players operating in the market are focusing on adopting various growth strategies such as new product launches and expanding global presence, in order to maintain their position in the global market. For instance, in January 2019, Hyde Tools, Inc., a manufacturer of surface preparation tools launched its new tool, Hyde Molding Puller for removal of carpet, tile, and other flooring materials. The new product helped the company to expand its product portfolio in the flooring tool market.
Key features of the study
Market Segmentation
Table of Contents
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