Shoe Shine Machine Market Size, Share, Global Market Research and Industry Forecast Report, 2025 (Includes Business Impact of COVID-19)

                                          
Industry Insights, Market Size, CAGR, High-Level Analysis: Shoe Shine Machine Market


The global shoe shine machine market size was valued at USD 48.56 million in 2018. The market is estimated to expand at a CAGR of 5.95% from 2019 to 2025. These machines help clean and polish shoes in lesser time than manual methods. Rising number of working individuals along with increasing demand for quick shoe cleaning services is projected to drive the demand for shoe polishing machines.
In addition, the advent of innovative compact, portable, and automated products with dual cleaning brushes and sensors will dive the demand further. Hands-free operation of these machines is also boosting their demand. Growing product usage in 5-star hotels, business complexes due to rapidly expanding corporate sector will also have a positive impact on the market growth.
 

Hands-free operation of these machines is also boosting their demand. Moreover, rising number of restaurants and hotels, especially in the emerging regions like Asia Pacific, due to the growing hospitality sector will drive product sales over the next few years. In addition, increased consumer purchasing power in emerging countries, such as India and China, is driving the sales for automated shoe polishing products, thereby augmenting market development.
Major companies in the shoe shining machine market follow several strategic initiatives, such as product launches, acquisitions & mergers, and online sales, to expand their geographical reach. For instance, in April 2019, Moneysworth & Best launched its own website for selling their products, which include shoe shine machine, creams, cleaners, soles etc.
                                                                
Product Insights of Shoe Shine Machine Market

Automatic product segment accounted for the largest market share of more than 63% in the year 2018. The automatic machines are the most advanced versions of these products and offer hands-free operations. The infrared sensor in these devices controls the discharge of polish or wax applied to the brush.
On the other hand, the manual product segment is projected to register the fastest CAGR of 6.37% from 2019 to 2025. This growth is attributed to the rising demand for manual devices as they are cheaper as compared to other product types. In addition, manual products are easy to carry and compact. They also have a longer functional life than other devices.

Application Insights of Shoe Shine Machine Market

Commercial application was the largest segment in 2018 and generated revenue of USD 38.96 million. It is projected to expand further retaining its dominant position throughout the forecast period. The segment growth is attributed to the rising number of installations of automatic machines in commercial areas, such as hotels, halls, and party clubs, for quick shoe cleaning services.
 

However, residential application is expected to be the fastest-growing segment at a CAGR of 7.35% from 2019 to 2025. The products used in residential applications are compact and cheaper than those used at commercial spaces. Rising number of working individuals and consumer disposable income levels, especially in emerging markets like Asia Pacific, will drive the residential application segment.

Regional Insights of Shoe Shine Machine Market

In terms of value, North America held the largest market share in the past and is projected to maintain its dominance over the forecast years. This growth can be attributed to the rising number of commercial spaces, such as offices, malls, restaurants, clubs, and hotels, in countries like U.S. and Canada. Moreover, high purchasing power of consumers results in increased sales for commercial and household product types.
Asia Pacific, on the other hand, is expected to have the highest growth rate during the forecast period due to rapidly expanding real; estate sector in the region. In addition, growing corporate sector due to the presence of high-potential markets like India and China will drive the region’s growth. Moreover, rapid urbanization and industrialization in this region will drive the shoe polish machine market further.

Market Share Insights of Shoe Shine Machine Market

Some of the prominent industry participants include HEUTE Maschinenfabrik GmbH & Co KG; Beck Shoe Products Co.; Moneysworth & Best; Sunpentown, Inc.; Euronics Industries Pvt. Ltd.; and Dolphy India Pvt. Ltd. Most of these companies focus on R&D and M&A activities to increase their market share. For instance, in November 2018, Moneysworth & Best expanded its facility to a new distribution center at Brampton, Ontario, U.S.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Shoe Shine Machine Market Research Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, this market research report has segmented the global shoe shine machine market report on the basis of product, application, and region:


Product Outlook (Revenue, USD Million, 2019 - 2030)


Automatic


Manual


Application Outlook (Revenue, USD Million, 2019 - 2030)


Residential


Commercial