“Global Electric Shoe Polisher Market to reach a market value of USD 103.9 Million by 2031 growing at a CAGR of 5.6%”
The Global Electric Shoe Polisher Market size is expected to reach $103.9 million by 2031, rising at a market growth of 5.6% CAGR during the forecast period. In the year 2023, the market attained a volume of 925.47 thousand units, experiencing a growth of 20.2% (2020-2023).
Many Canadian companies and professional organizations have established dress codes and grooming standards that require employees to maintain a polished and professional appearance. This often includes well-maintained footwear, which is seen as an integral part of a professional image. In professional settings, first impressions are crucial. Properly polished shoes contribute to a positive first impression, reflecting attention to detail and professionalism, which are highly valued in business environments. Thus, the North America region acquired 42% revenue share in the electric shoe polisher market in 2023. In terms of volume the North America region is expected to utilize 405.62 thousand units of electric shoe polisher by 2031.
Modern lifestyles are often busy, leaving little time for traditional shoe polishing methods. Electric shoe polishers provide a convenient and time-saving solution, allowing users to maintain their shoes quickly and efficiently, which appeals to a wide range of consumers. Additionally, Large corporate offices and business centers often have facility management services, including maintaining a clean and professional environment. Electric shoe polishers are part of the equipment used by these services to ensure that the premises and the people in them look their best. Therefore, rising the hospitality and corporate sectors is propelling the market's growth.
However, Price sensitivity is a critical factor in many markets. High initial costs can reduce the competitiveness of electric shoe polishers compared to manual shoe polishers or other grooming products that serve similar purposes at lower prices. Hence, the high initial cost of electric shoe polishers is hindering the market's growth.
Based on product type, the market is divided into fully automatic and handheld automatic. In 2023, the fully automatic segment garnered 60% revenue share in the market. Fully automatic offer a hands-free operation, allowing users to insert their shoes and let the machine handle polishing simply. In terms of volume 389.78 thousand units of fully automatic electric shoe polisher is expected to be utilized by 2031.
On the basis of distribution channel, the market is segmented into specialty stores, B2B, online store, and other distribution channel. The B2B segment recorded 37% revenue share in the market in 2023. Businesses, especially in the hospitality and corporate sectors, often deal with a high volume of footwear that requires regular maintenance. In terms of volume 426.80 thousand units of electric shoe polisher are expected to be sold by 2031.
Based on application, the market is categorized into residential and commercial. In 2023, the residential segment registered 44% revenue share in the market. Electric shoe polishers offer a time-efficient solution for maintaining footwear. Homeowners value products that simplify and expedite household chores. In terms of volume, 546.08 thousand units of electric shoe polisher is expected to be utilized in residential application by 2031.
Free Valuable Insights: Global Electric Shoe Polisher Market size to reach USD 103.9 Million by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region generated 24% revenue share in the market. Many countries in the Asia-Pacific region are experiencing robust economic growth, leading to increased disposable income among consumers. In terms of volume, the Asia Pacific region is expected to utilize 445.88 thousand units of electric shoe polisher by 2031.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 67.8 Million |
| Market size forecast in 2031 | USD 103.9 Million |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 5.6% from 2024 to 2031 |
| Quantitative Data | Volume in Thousand Units, Revenue in USD Million, and CAGR from 2020 to 2031 |
| Number of Pages | 281 |
| Number of Tables | 667 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product Type, Distribution Channel, Application, Region |
| Country scope |
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| Companies Included | HEUTE Maschinenfabrik GmbH & Co. KG, ESFO AB, Beck Shoe Products, Euronics Industries Pvt Ltd, Dolphy India Pvt. Ltd., Moneysworth & Best and Orchids Tissue Paper Products |
By Product Type (Volume, Thousand Units, USD Million, 2020-2031)
By Distribution Channel (Volume, Thousand Units, USD Million, 2020-2031)
By Application (Volume, Thousand Units, USD Million, 2020-2031)
By Geography (Volume, Thousand Units, USD Million, 2020-2031)
This Market size is expected to reach $103.9 million by 2031.
Growing awareness of personal grooming are driving the Market in coming years, however, High initial cost of electric shoe polishers restraints the growth of the Market.
HEUTE Maschinenfabrik GmbH & Co. KG, ESFO AB, Beck Shoe Products, Euronics Industries Pvt Ltd, Dolphy India Pvt. Ltd., Moneysworth & Best and Orchids Tissue Paper Products
In the year 2023, the market attained a volume of 925.47 thousand units, experiencing a growth of 20.2% (2020-2023).
The Commercial segment is leading the Market by Application in 2023; thereby, achieving a market value of $57.1 million by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $42.1 million by 2031.
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