Household Vacuum Cleaners Market size worth $17 billion by 2024

Household Vacuum Cleaners Market size was valued at over USD 11.5 billion in 2015, and is anticipated to grow at 4.6% CAGR from 2016 to 2024; according to a new research report by Global Market Insights, Inc.
Global household vacuum cleaners market is anticipated to witness substantial growth owing to rising concerns towards hygiene & cleanliness. Increasing disposable income along with health & environment awareness is expected further impact industry demand.

Various features such as superior ergonomics and eco-friendly nature is likely to fuel household vacuum cleaners market share over the forecast timeline. Furthermore, swift technological development and rising technologically advanced population may also drive demand. Social factors such as rising number of dual earning families and middle class population will provide a fillip to global consumption. Rising government initiatives in order to spread awareness regarding cleanliness and hygiene is likely to encourage adoption for household cleaning.

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Various benefits offered by these devices such as high performance and superior quality are predicted to act as key factors affecting consumer buying decision through 2024. Price is anticipated to be a key parameter due to existence of large number of players across the industry.

Favorable household vacuum cleaner market price trend will increase adoption across a larger population base. Increasing industry competition owing to presence of large number of players with less differentiated products is expected to further play a role in price erosion. Increasing energy cost across the globe may hinder growth in the coming years.

Rising focus of various organizations such as Environmental Protection Agency (EPA) and U.S. Department of Energy (DOE) for creating new opportunities to enhance energy ratings of new product categories is anticipated to positively impact industry growth through 2024. Fierce initiatives for tumbling operational cost as well as GHG (greenhouse gas) emissions is expected to fuel revenue over the next few years.

Browse key industry insights spread across 91 pages with 36 market data tables & 24 figures & charts from the report, “Household Vacuum Cleaners Market Size By Product (Upright, Canister, Central, Drum, Wet/Dry, Robotic), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, Japan, India, China, Mexico, Brazil), Application Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024” in detail along with the table of contents:

Key insights from the report include:

  • Upright systems are forecast to continue its dominance owing to small size, high suction capability and large cleaning surface area. It is estimated to account for over 25% of the overall industry share by 2024, growing at 3.2% CAGR from 2016 to 2024.
  • Robotic vacuum cleaners market share is predicted to record substantial growtn prospects owing to various state-of-the-art features such as automated mapping, acoustic sensors, mobile support, self-charging and sweeping brushes. The segment is forecast to be valued at over USD 3.5 billion by 2024.
  • Asia Pacific household vacuum cleaners market share will grow at 5.2% CAGR estimations over the forecast timeframe. Regionl growth can be credited to existence of various emerging countries such as Japan, China and India. The North American industry will be benefitted by growing household cleaning time constraints and personal health as well as hygine concerns.
  • Key competitors contributing to household vacuum cleaners market size are Electrolux, Dyson, Stanley, TTI Floor Care, Miele and Oreck. Other leading industry players include Black & Decker, Haier, Eureka Forbes, LG, Panasonic, iRobot, Bissell, Samsung, and Philips.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.