Household Vacuum Cleaners Market size, share, growth, trends and forecast by 2024
Global Household Vacuum Cleaners Market size was evaluated at more than $11.6 million for 2015 and is projected to record CAGR of about 4.7% during forecast timeline. Increasing disposable income lifestyle is along with acceptance of modern predicted to encourage consumers for expending more on utilities and this will result in more demand for product. Further, rise in customer consciousness about benefits derived by using these items coupled with growing living standards can propel industry expansion. Furthermore, swift technological innovations in the global industry are expected to provide efficient & durable items at reasonable costs. This aspect is predicted to boost global household vacuum cleaners industry trends during forecast timeline.
However, high power supply charges per unit are predicted to hinder the global household vacuum cleaners market growth as these equipments utilize significant proportion of power for its functions. Countries with relatively low average disposable incomes (or low per capita incomes) are cost sensitive and hence high energy consumption by these items can discourage consumers to purchase these items. All these factors can also hinder the industry growth.
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Global household vacuum cleaners industry is segmented into robotic, upright, drum, canister, wet or dry and central. Products with tiny size and high suction ability as well as capacity to cleanse big surface area are projected to fuel upright segment growth. It is predicted to contribute greater than 25.1% to the total industry share by end of forecast timeline.
Canister segment is predicted to witness substantial expansion as the equipment is user friendly and can easily be handled. It is anticipated to evaluated at more than $4.6 billion till end of forecast timeline and register CAGR of 3.91% during forecast timeframe.
Robotic products segment is projected to experience substantial expansion in future. The growth can be credited to many innovative inbuilt or embedded features like mobile support, acoustic sensor, capacity to self-charge, sweeping brushes and automatic mapping abilities. It is predicted to experience good growth as the equipment requires less time and energy to operate. This segment contributed about 12.1% of the total household vacuum cleaners market share for 2015 and is predicted to contribute revenue of about $3.6 billion by end of forecast timeline.
Global household vacuum cleaners market is segmented into geographical locations like Asia Pacific, Europe, North America, MEA and LATAM.
Asia Pacific household vacuum cleaners industry revenue was worth $3.8 billion for 2015 and expected to record CAGR of 5.3% during forecast timeline. Heavy demand from nations like China, India and Japan are predicted to contribute towards regional industry expansion.
Growing concerns about health and hygiene and time constraints for household cleaning activities are few of the factors anticipated to promote U.S. household vacuum cleaners market growth.
Key industry participants profiled in the global household vacuum cleaners market research report include Oreck Corporation, Bissell Incorporation, Haier Group, Electrolux Group, Miele, Dyson Limited, Stanley Black & Decker, Eureka Forbes Limited, TTI Floor Care, Royal Philips Electronics, LG Corporation, Panasonic Corporation, iRobot Corporation and Samsung.
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:
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