Shoe Shine Machine Market Size, Share & Trends Report

Shoe Shine Machine Market Size, Share & Trends Analysis Report By Product (Automatic, Manual), By Application (Residential, Commercial), By Region, And Segment Forecasts, 2019 - 2025

  • Published Date: Aug, 2019
  • Base Year for Estimate: 2018
  • Report ID: GVR-3-68038-459-8
  • Format: Electronic (PDF)
  • Historical Data: 2015 - 2017
  • Number of Pages: 80

Report Overview

The global shoe shine machine market size was valued at USD 48.56 million in 2018 and is expected to grow at a compound annual growth rate (CAGR) of 5.95% from 2019 to 2025. These machines help clean and polish shoes in lesser time than manual methods. The rising number of working individuals along with increasing demand for quick shoe cleaning services is projected to drive the demand for shoe polishing machines.

U.S. shoe shine machine market size

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 the rapidly expanding corporate sector will also have a positive impact on market growth.

Hands-free operation of these machines is also boosting their demand. Moreover, a rising number of restaurants and hotels, especially in 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 website for selling their products, which include shoe shine machines, creams, cleaners, soles, etc.

Product Insights

The 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

The 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.

Global shoe shine machine market share

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 in commercial spaces. The 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

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 the U.S. and Canada. Moreover, the 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 the rapidly expanding real; estate sector in the region. In addition, the 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.

Key Companies & Market Share Insights

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.Some of the prominent players in the shoe shine machine market include:

  • HEUTE Maschinenfabrik GmbH & Co KG

  • Beck Shoe Products Co.

  • Moneysworth & Best

  • Sunpentown; Inc.

  • Euronics Industries Pvt. Ltd.

  • Dolphy India Pvt. Ltd.

Shoe Shine Machine Market Report Scope 

Report Attribute

Details

Market size value in 2020

USD 54.3 million

Revenue forecast in 2025

USD 72.7 million

Growth Rate

CAGR of 5.9% from 2019 to 2025

Base year for estimation

2018

Historical data

2015 - 2017

Forecast period

2019 - 2025

Quantitative units

Revenue in USD million and CAGR from 2019 to 2025

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Germany; U.K.; China; India; Brazil; South Africa

Key companies profiled

HEUTE Maschinenfabrik GmbH & Co KG; Beck Shoe Products Co.; Moneysworth & Best; Sunpentown; Inc.; Euronics Industries Pvt. Ltd.; Dolphy India Pvt. Ltd.

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Segments Covered in the 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, Grand View Research has segmented the global shoe shine machine market report on the basis of product, application, and region:

  • Product Outlook (Revenue, USD Million, 2015 - 2025)

    • Automatic

    • Manual

  • Application Outlook (Revenue, USD Million, 2015 - 2025)

    • Residential

    • Commercial

  • Regional Outlook (Revenue, USD Million, 2015 - 2025)

    • North America

      • The U.S.

    • Europe

      • Germany

      • U.K.

    • Asia Pacific

      • China

      • India

    • Central & South America

      • Brazil

    • Middle East & Africa

      • South Africa

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