The global vacuum cleaner market size is expected to be worth around US$ 30.66 billion by 2030, according to a new report by Vision Research Reports.
The global vacuum cleaner market size was valued at US$ 15.01 billion in 2020 and is anticipated to grow at a CAGR of 18.6% during forecast period 2021 to 2030.
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|Market Size||US$ 30.66 billion by 2030|
|Growth Rate||CAGR of 18.6% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, Distribution, Application, Region|
|Companies Mentioned||iRobot Corporation, Dyson, Ecovacs, Nilfisk Group, Stanley Black & Decker, Inc., Panasonic Corporation|
The growing per capita income in developing countries is one of the key factors leading to the increased consumer demand for advanced vacuum cleaners. Moreover, the COVID-19 pandemic has made people pay more attention to cleanliness and hygiene to maintain a sense of safety in private and public spaces. This is estimated to drive market growth over the next few years.
The COVID-19 lockdowns and related travel restrictions have restricted access to housekeeping services. The increased struggle to manage all household chores while maintaining high cleanliness and hygiene standards is driving the demand for household appliances such as vacuum cleaners. To put this into perspective, Panasonic India has seen a growth of 20% in the sales of vacuum cleaners compared to pre-COVID times. Eureka Forbes Ltd. also witnessed strong demand for vacuum cleaners amidst the pandemic in India.
Government initiatives such as ‘Swachh Bharat Mission’ and 100% FDI in India have further fueled the growth of the regional market. Automatic vacuum cleaners and sweepers play a key role in maintaining public health in commercial places. Several state governments in India have adopted road sweeping machines that work like vacuum cleaners to clean the roads. In 2019, Anker Innovations, a Chinese electronics company, entered the Indian market under the FDI scheme with its Eufy range of robot vacuum cleaners and experienced positive growth in 2020.
The canister vacuum cleaner segment dominated the market in 2020 with a revenue share of over 25%. The development of canister vacuum cleaners equipped with a HEPA filter, which have a significantly low risk of causing pulmonary side effects such as allergies and asthma, is expected to work in favor of the segment’s future growth prospects.
The robotic segment is expected to witness an increase in demand over the next few years. New cleaning requirements and demands have emerged in response to the COVID-19 pandemic to free up the human workforce so that they can attain other duties, especially in hospitals. Such demands have necessitated the adoption of autonomous or robotic vacuum cleaners for the commercial sector.
The online distribution channel segment captured a revenue share of over 56% in 2020. The growth can be attributed to the implementation of lockdown of varying stringency worldwide to curb the spread of COVID-19. Since cleaning became an essential part of the daily routine across all application sectors, companies moved to sell their products virtually. The virtual product demonstration and selling process contributed profoundly to the segment’s growth in 2020 and is expected to remain a key contributor in 2021 as well. The need to globalize the digital sales process and create a seamless customer experience is likely to further contribute to the segment’s future growth prospects.
The residential segment dominated the vacuum cleaner market growth in 2020 by capturing a revenue share of over 48%. The implementation of the WFH model across regions has confined people to their homes, necessitating the timely management of daily routine tasks. This has increased the demand for home appliances, especially cleaning equipment. Increasing incidences of allergy and asthma caused due to dust and dirt in residential settings, coupled with the need to keep homes disease-free, are expected to drive the demand for residential vacuum cleaners.
The COVID-19 pandemic impacted the industrial and commercial business sector due to the long-term closure of manufacturing plants, shopping malls, restaurants, and other commercial spaces. As a result, the revenue for the industrial and commercial sectors declined in 2020. However, in the commercial sector, the hospital segment witnessed promising growth, chiefly owing to the labor shortage in hospitals and the need to maintain hygiene. Moreover, the rising need to keep hospitals clean to avoid cross-contamination and infections and maintain a healthy environment for the medical staff, patients, and visitors is anticipated to drive the demand for vacuum cleaners.
The Asia Pacific region dominated the global market for vacuum cleaners in 2020, with China being one of the leading markets. The strong presence of regional companies, availability of low-cost products, and high purchasing power of consumers are some of the key factors driving the regional demand for vacuum cleaners. The increasing electrification of rural areas and the wide usability of online sales channels in developing countries such as India are aiding the demand for vacuum cleaners.
- iRobot Corporation
- Nilfisk Group
- Stanley Black & Decker, Inc.
- Panasonic Corporation
- Product Outlook
- Wet & Dry
- Distribution Outlook
- Application Outlook
- Food & Beverages
- Retail Stores
- Shopping Malls
- Regional Outlook
- North America
- The U.S.
- Asia Pacific
- Latin America
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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