Household Vacuum Cleaners Market Analysis By 2024 - Dyson, Electrolux, Eureka Forbes Ltd, Haier, LG Corp., Miele, Nilfisk, Panasonic, Philips, Samsung Electronics and Stanley Black & Decker, Inc.
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Key participants in the industry include Bissell Inc, Dyson, Electrolux, Eureka Forbes Ltd, Europro, Haier, Hoover, IROBOT CORPORATION, LG Corp., Miele, Nilfisk, Oreck Corporation, Panasonic, Philips, Samsung Electronics, Shark, Stanley Black & Decker, Inc.,TTI Floor Care and Vax Ltd. The household vacuum cleaners market is characterized with innovative product development and mergers & acquisitions.
Intense competitive scenario will compel players to invest heavily in R&D to gain competitive edge. Industry participants are focusing to reduce overall cost as price remains a key influencing factor in the buying decision.
Household Vacuum Cleaners Market By Product
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Technological advancements have led to products that are incorporated with smart technologies such as HEPA filters, UV sterilization, security cameras, etc. Robotic vacuum cleaners market is set to grow considerably, with products being developed by leading companies that utilize intelligent programming and other sophisticated components. It provides scheduling of cleaning with mobile application. Developments in new energy saving technologies, touch screen, voice recognition may enhance customer experience.
Upright household vacuum cleaners market share is expected to register gains at around 4% CAGR. Initial introduction of the product, featuring robustness and affordable costs are the key factors expected to fuel the segment growth. Canister household vacuum cleaners market size dominated the industry accounting for over 40% of the business revenue. Relatively lower costs, ease of usability and availability are the prominent factors influencing the high consumer adoption.
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Increasing infrastructural and development activities in Mexico will present opportunistic landscape for the household vacuum cleaners market share, with gains at over 5% till 2024. Improving living standards in China, India, and Mexico have led to increased investments which further supports household vacuum cleaners market growth. Moreover, presence of major industry participants in these regions will enhance aftersales service capabilities.
Growing means of retailing channels, which include mail, telephone, catalogs, brick and mortar stores, websites, and social networking have led to increased consumer accesses to these products. Partnership establishments between manufacturers and these distribution channels will help the household vacuum cleaners market to gain high penetration over the forecast timeframe.
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