Residential Vacuum Cleaner Market to Grow at a CAGR of 5.41% During the Forecast Period

 Rising awareness of hygiene and development of robotic vacuum cleaners is influencing the growth of the residential vacuum cleaner market.

 

According to TechSci Research report, “Residential Vacuum Cleaner Market –Global Industry Size, Share, Trends, Competition, Opportunities, and Forecast, 2017-2027” Global residential vacuum cleaner market is forecast to grow at CAGR of 5.41% to reach USD 23862.85 million through 2027. One of the main factors influencing the demand for vacuum cleaners in the residential sector is the reduction in the time left for doing household chores due to the popular Work from Home (WFH) model, initiated during the COVID-19 pandemic situation. Other important factors driving the market's growth include changing lifestyles, high disposable incomes, a growing working population, rising purchasing power, and ease of use. Moreover, the development of robotic vacuum cleaners, which can clean an area without the assistance of a human, is also anticipated to benefit the market and fuel market expansion. Various market players are focusing on offering such upgraded technology-based vacuum cleaners. For instance, in 2022, in India, the home appliance and consumer electronics company Haier unveiled its first smart vacuum cleaner technology, a Robotic vacuum cleaner that can be used for both dry and wet mopping. Consequently, the company expanded its portfolio of smart home solutions to attract a consumer base. Similarly, the Singapore-based technology company Dyson introduced the Dyson V12 Detect slim vacuum with cord-free laser detection technology in February 2022.  The device has an LCD screen built in and a green laser diode to find dust. Additionally, it features a conical brush bar to sanitize surfaces and clean raised buttons and door handles, both of which are essential for preventing the transmission of COVID-19.

A residential vacuum cleaner runs on electricity to clean and remove debris from surfaces, including carpets, upholstered furniture, drapes, and other surfaces. Different sizes, styles, and models of household vacuum cleaners are available, including upright, canister, handheld, robotic, and others. The vacuum cleaners are available in cordless versions so that they are portable, simple to operate, and effective at cleaning different parts of the house.

The global residential vacuum cleaner market is segmented into product, type, technology, distribution channel, region, and company. On the bases of product, the market is segregated into canister, upright, stick, robotic, handheld, and others. Out of these, canister registered the highest market share of around 27% among all residential vacuum cleaner products in 2021, followed by upright. The cleaner unit has a storage tank that is connected by a long hose to the sucker end. These vacuum cleaners come with a variety of interchangeable attachments that allow one to personalize one’s cleaning schedule and access hard-to-reach places. Due to their extreme usability, robotic vacuum cleaner sales are expanding quickly. Additionally, it is anticipated that the cost of robotic vacuum cleaners will rise during the forecast period due to the high-end technology needed for such advanced features. In order to increase sales, businesses are focusing on high-income demographics in the developed nations of North America and Europe.

 



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On the bases of distribution channel, the market is segmented into electronic and specialty retailers, hypermarket/ supermarket, online channel, others (direct sales, etc.). In which, the online channel emerged as one of the most important growth drivers of the market with the CAGR of 6.71% in forecast period. In addition to disseminating information about new launches and technologically advanced products, social media platforms have been crucial in raising awareness of the importance of maintaining hygiene.

Asia Pacific dominated the global residential vacuum cleaner market and accounted for a revenue share of 32.27% in 2021, with China being one of the prominent countries in the markets. Some of the main factors influencing the demand for vacuum cleaners in the region include the substantial presence of local businesses, the accessibility of inexpensive goods, and consumers' high purchasing power. In developing nations like India, the demand for vacuum cleaners is being aided by the growing electrification of rural areas and the widespread usability of online sales channels. For instance, the "MC-YL633," a dry vacuum cleaner for speedy cleaning, was launched by consumer electronics company Panasonic Holdings Corporation in April 2022. To satisfy the needs of Indian customers, the vacuum cleaner will be made available for sale across the country at a reasonable price. It has a high suction power of a 2000W motor and an 18L dust tank capacity.

Key market players in the Global Residential Vacuum Cleaner Market include:

  • Dyson Limited
  • TTI Floor Care North America
  • Bissell.Inc
  • Midea Group
  • iRobot Corporation
  • AB Electrolux
  • Panasonic Corporation
  • LG Electronics Inc.
  • Samsung Electronics Co., Ltd.,
  • Haier Group Corporation



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“The demand for vacuum cleaners in the residential sector is increasing due to the lack of time available for carrying out household tasks, such as cleaning and organizing, in both in-office and remote working models. Also, the variants of household vacuum cleaners with more versatility can be used to clean rugs, couches, cars, and pet hair. Additionally, various market leaders are continuously improving their products to match the escalating demand, which is anticipated to propel the global residential vacuum cleaner market over the coming years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.


Residential Vacuum Cleaner Market- Global Industry Size, Share, Trends, Competition, Opportunities and Forecast, 2017-2027 Segmented By Product (Canister, Upright, Robotic, Stick, Handheld, Others ((Drum, etc)), Type (Corded, Cordless), By Technology (Smart, Non-Smart), By Distribution Channel (Electronic and Specialty Retailers, Hypermarket/ Supermarket, Online Channel, Others (Direct Sales, Etc.), By Region”, has evaluated the future growth potential of global residential vacuum cleaner market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Global Residential Vacuum Cleaner Market.

 

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  • Marco Brown
    published this page in Submit Content 2022-10-17 22:26:21 -0700

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