Grand View Research has published another research report titled Shone Shine Market that discusses trend analysis, future forecast and current dynamics of the market. The market is expected to reach USD 72.8 million by 2025 with CAGR of almost 6%.
The growth will be triggered by increasing demand for quicker shoe cleaning/shining services and new technologies along with feature line such as portable and automated machines being introduced in polishing machines.
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The largest growth is expected to come from the automatic product segment while portable segment will see gradual increase overtime. Commercial/large scale shoe shining machines dominated the market by 80% and are expected to do so in the coming years. In terms of region, the North American market is expected to stay dominant while Asia Pacific region is expected to register fastest CAGR growth.
Product launches and acquisitions & mergers are expected to be main trend in the shoe shine market whereas the R&D initiatives will dominate the automatic product segment.
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