Published: Jun, 2018
Transparency Market Research states that the competitive landscape present in the global vacuum cleaner market is quite fragmented. To remain relevant to the market, players are focusing on making smart vacuum cleaners that are cordless and lesser in weight. Vacuum cleaners that reduce the effort of cleaning are expected gain popularity in the coming years. Strong marketing strategies and investments in better branding ideas are also expected favor market growth. Analysts have picked out Haier Group Corp., AB Electrolux, Samsung Electronics Co., Ltd., LG Electronics, Inc., Bissell Inc., Dyson Ltd., and iRobot Corporation as the leading players in the global market.
According to the research report, the global vacuum cleaner market is expected to be worth US$29,704.1 mn by the end of 2026. During the forecast years of 2017 and 2026, the global vacuum market is expected to surge at a CAGR of 4.3%. Out of the various types of vacuum cleaners available in the global market, the demand for upright vacuum cleaners is projected to remain high in the coming years as they are convenient to use and affordable. From a geographic point of view, Asia Pacific excluding Japan (APEJ) is projected to lead the global vacuum cleaner market in the next few years.
Improving Disposable Incomes Increases Sales for Vacuum Cleaners
Rising disposable income and increasing awareness about cleanliness are the primary growth drivers for the global vacuum cleaners market. Vacuum cleaners offer a convenient way of cleaning households. They are possibly the best solution for those with busy lifestyles. Furthermore, vacuum cleaners have the ability to pull out dirt, dust, and grime from nooks and corners that manual labor cannot. Thus, in light of all of these reasons, the demand for vacuum cleaners has been considerably high. The global vacuum cleaners market has also been growing due to the rapid technological advancements. Today, vacuum cleaners are equipped with sensors that can dodge obstacles in the path.
Introduction of robot vacuum cleaners has also advanced the growth of the global market. These vacuum cleaners are equipped with timers and sensors, which help in time management and efficient cleaning. Automation in household appliance such as vacuum cleaners has significantly helped the market to expand itself in the past few years. Production of energy efficient vacuum cleaners that comply with CO2 emission norms as set by European Union has also stoked demand.
Preference for Traditional Methods of Cleaning to Hamper Sales of Vacuum Cleaners
On the downside, the global market for vacuum cleaners is expected to face some tough challenges. The idea of using vacuum cleaners is still a novel one in many developing parts of the world. Several rural parts of the world that are still deprived of electricity continue to use traditional methods of cleaning. Thus, a large of the population is still not using vacuum cleaners. Cost-sensitive markets are also refraining from using vacuum cleaners. Owing to these reasons, the demand for vacuum cleaners is projected to suffer marginally in certain pockets.
This review is based on Transparency Market Research’s report, titled “Vacuum Cleaner Market (Product Type - Handheld, Canister, Upright, Stick, Autonomous/Robot; End Use - Commercial, Household; Filter - With Bag, Bagless; Sales Channel- Independent Retail Store, Chained Retail Store, Modern Trade Channel, Company Online Channel, Third Party Online Channel) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2026”.
Global Vacuum Cleaner Market By Product Type
- Handheld Vacuum Cleaner
Global Vacuum Cleaner Market By End Use
Global Vacuum Cleaner Market By Filter
Global Vacuum Cleaner Market By Sales Channel
- Independent Retail Store
- Chained Retail Store
- Modern Trade Channel
- Company Online Channel
- Third Party Online Channel
Global Vacuum Cleaner Market By Geography
- North America
- Latin America
- Asia Pacific Excluding Japan
- Middle East and Africa
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