Global Power Float Market to witness Significant Growth till 2026
Launch of technologically
advanced power float and the ongoing construction projects is expected to drive
the demand for global power float market in forecast period.
According to TechSci Research report, “Global Power
Float Market By Type (Ride-on (Hydrostatic, Mechanical), Walk Behind)) By
Application (Commercial Buildings, Industrial Buildings, Others) By Blade
Diameter (36 inch, 46- 48 inch, Above 48 inch), By Region, Company Forecast
& Opportunities, 2026”, the global power float market is expected to
witness steady growth in the forecast period. A power float is construction
equipment which is used to provide smooth, dense, and level surface finish to
concrete floors. Power float is generally used in large construction projects
such as industrial and commercial buildings, airports, storage units, amongst
others to give them superior concrete smooth finishes. Power float consists of
a petrol engine or electric motor over a circular pan and is used over the
surface to provide a smooth hardened finish. The growing construction activity
is fueling the growth of the construction equipment rental market. Renting of
the construction equipment offers several advancements over the purchase of new
construction equipment such as it is cost-effective in nature, and it can be
used over again which is expected to spur the construction industry market
growth. Expansion of the commercial and industrial sector in the developing
economies is expected to boost the demand for the power float in the next five
years. The surge in labor costs is creating the need for effective construction
equipment which is expected to fuel the market growth.
The COVID-19 outbreak across the world which has been
declared as a pandemic by World Health Organization has affected several
countries adversely. Coronavirus-affected patients started suffering from
shortness of breath along with coughing and sneezing. Leading authorities
around the globe imposed lockdown restrictions and released a set of
precautionary measures to contain the spread of novel coronavirus. The ongoing
construction activities were temporarily suspended during this period and the
upcoming projects were postponed reducing the effect of coronavirus.
Manufacturing units of power float were shut down till notice and the workers
migrated back to their native places which negatively affected the market
growth. The disruption in the supply chain was observed due to the restrictions
imposed on the import and export activities.
However, the high cost of power float construction
equipment may hamper the growth of the market in the forecast period.
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Global
power float market is segmented into type, application, blade diameter,
regional distribution, and company. Based on the type, the market can be
divided into ride-on and walk behind. The ride-on segment is expected to
dominate the market in the forecast period, 2022-2026. The ride-on power float
is used for trowelling the concrete surfaces through the finishing and floating
operations. It is generally used in heavy load areas such as industrial
buildings, airports, garages, housing, warehouses, amongst others. The growing
demand for mechanized concrete finishing in large surface areas is fostering
the growth of the market. The ride-on market can be further divided into
hydrostatic and mechanical. The hydrostatic ride-on power float is expected to
account for a major market share in the forecast period as it can be easily
operated with smooth running.
Multiquip
Inc, Wacker Neuson Group, Allen Engineering Corporation, Altas Copco, Parchem
Construction, Supplies Pty. Ltd., Bartell Morisson Inc., Shanghai Dragon
Construction Equipment Co., Masterpac, MBW Inc., Shandong Shenhua Machinery
Manufacturing Co., Ltd. are the leading players operating in global power float
market. Manufacturers are increasingly focusing on research and development
process to fuel higher growth in the market. To meet evolving customer demand
with respect to better efficiency and durability, several power float manufacturers
are coming up with their technologically advanced offerings.
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“The
construction industry is expected to pick up the pace post-COVID-19 period as
it was adversely affected during the COVID-19 pandemic. The growing demand for
the construction of healthcare facilities, hospitals, research institutions,
laboratories, amongst others influenced the growth of the power float market.
The huge investments by the market players for technological up-gradation of
the existing infrastructures to increase the efficiency and performance of the
power float machine which in turn is expected to pave the way for the market
growth till 2026” said Mr. Karan Chechi, Research Director with TechSci
Research, a research b Coronavirus
affected patients started suffering from shortness of breath along with coughing
and sneezing ased global management consulting firm.
“Global Power Float
Market By Type (Ride-on (Hydrostatic, Mechanical), Walk Behind)) By Application
(Commercial Buildings, Industrial Buildings, Others) By Blade Diameter (36
inch, 46- 48 inch, Above 48 inch), By Region, Company Forecast &
Opportunities, 2026” has evaluated the future growth potential of global power
float market and provided statistics & information on market size, shares, structure
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in the of global power float market.
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