Market Challenges And Opportunities

Drivers

The growing construction industry and renovation of homes and other commercial construction activities are the major factors that are expected to increase the flooring tool market. Flooring has a significant impact on the aesthetic of the home. The major drivers for the growth of flooring tool market are increasing construction of buildings and rising infrastructure due to increasing urbanization and growing population.

Furthermore, growing commercial sector, increasing disposable income, changing trends in home furnishing, and 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 over the forecast period.

Market Restraints

Cutting wet tiles using tile cutter is the most common method used in the tile industry. However, most of the tile installers that use wet tile cutter are facing challenges such as location to setup the electric tile cutter, water source for wet cutting, and consumes more time for cutting. Therefore, factors such as improper disposal of contaminated and slurry water, setup time, and high cost are the restraining factors of wet tile cutter that are expected to hamper growth of the flooring tool market over the forecast period.

Market Opportunities

The consumer preferences are changed after the COVID-19 Pandemic. The people are more concerned about their home-designs during the COVID-19 pandemic so it drives the growth of the flooring tool market. Furthermore, due to the growth of e-commerce customers are technology advanced and the expectation are increasing in terms of seamless shopping experience.

Consumers' rising spending on interior and design of living spaces is leading to increased spending on home furnishings such as floor coverings to enhance the aesthetic appeal of the interiors. This is expected to drive the market growth.