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Spin Mops Market Overview:
Spin mops market is expected to reach USD 720.7 million by 2027, with a CAGR rate of 6.5% during 2020–2027.
Market Dynamics:
The increasing demand for Spin Mops in the market may be attributed to the convenience they offer in floor cleaning, which serves as a significant driver for market growth. Moreover, the growth of disposable income, the proliferation of hotel units due to rapid urbanization, the establishment of integrated retail spaces, and the presence of a robust and hopeful population are anticipated to contribute to the expansion of the Spin Mops Market.
The increasing market value of Spin Mops, which are used for the purpose of floor cleaning, has prompted manufacturers to continuously innovate. The growing concept of “do-it-yourself” (DIY) within the realm of household cleaning has contributed to the increasing popularity of spin mops worldwide. The increasing inadequacies in domestic caregivers are contributing to the recent growth of the industry. The growth of the spin mops market is anticipated to be driven further in emerging nations.
This has contributed to the enhancement of incentivizing freedoms for manufacturers of household cleaning equipment. Furthermore, the increasing scarcity of domestic collaborators is contributing to the expansion of the business. Similarly, as a result of the global COVID-19 outbreak and subsequent implementation of widespread lockdown measures, there has been a notable increase in demand for spin mops within the market. This surge in demand can be attributed to the perceived enhanced use and practicality of spin mops in various settings.
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Competitive Landscape:
The key players of the market are 3M (US), Freudenberg Group (Germany), C. Johnson & Son, Inc. (US), Mopnado (US), Bed Bath & Beyond Inc. (US), BISSELL (US), Addis Ltd. (UK), Procter & Gamble (US), Mapa Spontex UK Ltd. (UK), and TTK Prestige Limited (India)
Market Segmentation:
By Product Type, the market has been segmented into Automatic and Semi-Automatic.
By End-Use, the market has been segmented into Residential and Commercial.
By Distribution Channel, the market has been segmented into Store-Based and Non-Store Based.
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Regional Analysis
In 2019, the North American region held a significant share of the global market due to the presence of major spin mop manufacturers located in the United States. In the North American region, the United States dominated the market for spin mops, with Canada and Mexico following behind. The increasing trend of do-it-yourself (DIY) in-home cleaning has also contributed to the growth of the industry in the area.
The Asia-Pacific region is projected to maintain its status as the fastest-growing market during the specified period of analysis. The local market growth can be attributed to the emergence of important players and the establishment of new firms. The market is anticipated to have significant growth throughout the projected period due to factors such as increasing urbanization, more disposable income, and the growing millennial population.
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