Newark, Sept. 17, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the Vacuum cleaner market will grow from USD 13.58 billion in 2023 and reach USD 32.74 billion by 2033. Vacuum cleaners nowadays have a series of sophisticated features that the person cannot even imagine. The sophisticated features of a vacuum cleaner make it easy to clean. Government regulations and policies significantly affect the vacuum cleaner market as global governments establish regulatory frameworks for manufacturers to reduce energy consumption and create environmentally friendly products. Implementing rules such as the European energy label requirement reduces wattage from 1,600 watts to 900 watts for vacuum cleaners sold or produced within European countries. Additionally, mergers & acquisitions are impacting this industry by enabling companies to enlarge their customer base, increase market share prevalence, and enhance product portfolios.
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Key Insight of Vacuum Cleaner Market
Asia Pacific to account for largest market size during the forecast period
Asia Pacific is expected to have the largest market share in the vacuum cleaner market. The essential elements favouring the growth of the vacuum cleaner market in Asia Pacific region is due to the vast expansions of manufacturing capabilities and rising consumer consumption in China have changed China’s society and economy. China is one of the world’s foremost producers of industrial and consumer products. Also, China is the world’s fastest-growing market for the consumption of goods and services. The Chinese economy has kept a high speed of growth produced by a constant rise in industrial output, customer consumption, imports & exports, and capital investment for over two decades. Fast consolidation between medium and big players is expected since the Chinese government has encouraged industry consolidation to regulate the industry and enhance competitiveness in the global market.
The canister segment accounted for the largest market share of 19% and market revenue of USD 2.58 billion in 2023.
The product segment is divided into drum, robotic, wet & dry, canister, upright, central, and others. The canister segment dominated with a market share of around 19% and market revenue of USD 2.58 billion in 2023. The growth of canister vacuum cleaners supplied with a HEPA (high-efficiency particulate air) filter, which has a shallow risk of causing pulmonary side effects like asthma, and allergies, is the reason it is anticipated to work in favour of the segment’s future growth opportunities.
The residential segment accounted for the largest market share of 37% and market revenue of USD 5.02 billion in 2023.
The application segment is divided into residential, commercial, and industrial. The residential segment dominated the market, with a market share of around 37% and market revenue of USD 5.02 billion in 2023. Vacuum cleaners help clean dust and get rid of allergens. They are also simple to use; they save time and energy and are anticipated to propel the demand for residential vacuum cleaners. Similarly, the increasing availability of cutting-edge products, which can efficiently catch minor impurities, pushes the market development in residential applications.
The online channel segment accounted for the largest market share of 56% and market revenue of USD 7.04 billion in 2023.
The distribution channel segment is divided into online channel, and offline channel. The online channel segment dominated the market, with a market share of around 56% and market revenue of USD 7.60 billion in 2023. The growth is due to the execution of lockdowns worldwide to stop the spread of COVID-19. However, cleaning has become necessary to the daily routine across all application industries, and companies have moved to sell their products via online channels which promotes the growth of the segment.
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Advancement in market
In March 2022, ECOVACS, a Chinese robotics company, founded its unique “DEEBOT X1 OMNI,” a robotic vacuum cleaner with a realistic language processing technology that takes direct command and speech without any smart device. It has an auto-cleaning station that auto washes, empties the dirt, dries the mop, and refills with clean water. The device has a big capacity of a 4L water tank and cleans the tiniest of impurities up to 360 m2 and removes 99.9% of dust particles.
Market Dynamics
Drivers: Vacuum cleaner saves energy and time
Cleaning with a vacuum cleaner is not only hygienic but also safer than cleaning manually using a broom. Vacuum cleaners are competent in cleaning within a minute, whereas manual cleaning takes roughly hours. With a vacuum cleaner, one can achieve the purpose of deep cleaning within the shortest time span. They are fast and easy to use. Further, the person only needs less effort and energy to handle a vacuum cleaner.
Restraints: High electricity bill
Relying on the vacuum cleaner model uses hundreds to thousands of watts of electricity. Indeed, if someone is using a vacuum cleaner, the electricity bill starts running high.
Opportunities: The vacuum cleaner comes with cutting-edge features
Vacuum cleaners nowadays have a series of sophisticated features that the person cannot even imagine. The sophisticated features of a vacuum cleaner make it easy to clean. Similarly, vacuum cleaners with advanced features will always get the advantage of having an automatic surface-revealing sensor to ascertain and work effectively.
Some of the major players operating in the vacuum cleaner market are:
- Snow Joe LLC
- Panasonic Holdings Corporation
- Nilfisk Group
- Neato Robotics, Inc.
- iRobot Corporation
- Haier Group
- Emerson Electric Co.
- ECOVACS
- Dyson
- DEWALT
- CRAFTSMAN
- BISSELL Inc.,
- Alfred Karcher SE & Co. KG
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Key Segments cover in the market:
By Product:
- Drum
- Robotic
- Wet & Dry
- Canister
- Upright
- Central
- Others
By Application:
- Residential
- Commercial
- Industrial
By Distribution Channel:
- Online Channel
- Offline Channel
By Region
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and the Rest of South America)
- The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analysed based on value (USD Billion). All the segments have been analysed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
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