The global Vacuum Cleaner Market research report provides complete insights on industry scope, trends, regional estimates, key application, competitive landscape and financial performance of prominent players. It also offers ready data-driven answers to several industry-level questions. This study enables numerous opportunities for the market players to invest in research and development.
Market Overview:
The global vacuum cleaner market size is projected to reach USD 16.7 billion by 2025 and expected to grow with a CAGR of 9.1% during the forecast period, from 2019 to 2025 according to Million Insights. Rapidly changing lifestyles among millennials and rising demand for smart devices are the major factors which are expected to drive the demand for technologically advanced cleaning equipment. In addition, the emergence of new technology such as IoT enabled devices is another factor to have a positive impact on the market growth.
Key Players:
- Alfred Kärcher GmbH & Co. KG
- BISSELL
- Dyson
- Ecovacs
- iRobot Corporation
- Neato Robotics
- Nilfisk Group
- Panasonic Corporation
- Qingdao Haier Co., Ltd.
- Snow Joe, LLC
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Growth Drivers:
The inception of smart devices and growth in the corporate sector is projected to increase the demand for vacuum cleaners in the forthcoming years. In addition, the growing demand for energy-efficient and eco-friendly vacuum cleaners is creating new avenues for market growth. Moreover, the increasing adoption of this product in several industries including retail, manufacturing, and healthcare to maintain cleanliness and hygiene at the workplace is projected to boost the vacuum cleaner demand over the forecast period.
Product Outlook:
- Canister
- Central
- Drum
- Robotic
- Upright
- Wet & Dry
Distribution Channel Outlook:
- Online
- Offline
Regional Outlook:
The Asia Pacific is expected to hold a dominant position in the market during the forecast period. Countries such as China and India are gaining traction due to technological advancement and rising awareness about hygiene. For example, in Indian markets, rapidly increasing urbanization has led to a hectic and busy lifestyle coupled with rising spending on home appliances is triggering the demand for vacuum cleaners among consumers.
North America is estimated to hold the second-largest share in terms of revenue, this high share can be attributed to rising consumer preference for easy-to-handle products. In consumer appliances, household appliances including vacuum cleaners are the largest market in the U.S. companies operating in consumer appliances are engaged in manufacturing eco-friendly practices to meet the environmental regulations.
Impact of COVID-19
Citizens and communities across several countries are engaged in reducing the spread of coronavirus, thereby there are a host of challenges to keep the world safe and hygienic. In this pandemic situation, essential businesses and institutions have to remain in operations. Hence, cleaning professionals are engaged in sanitizing hospitals, disinfecting warehouses and cleaning store aisles where vacuum cleaner plays an important role to maintain hygiene. In addition, growing awareness regarding cleanness and maintaining hygiene among people during this situation is expected to drive market growth. Therefore, several market players are striving to come up with technologically advanced vacuum cleaner which is projected to propel the product demand in the COVID-19 outbreak.
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