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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.

11-12-2018 10:37 AM CET | IT, New Media & Software

Press release from: Global Market Insights, Inc.

Household Vacuum Cleaners Market

Household Vacuum Cleaners Market

Household Vacuum Cleaners Market size will surpass USD 17.5 billion by 2024. Government mandates for the usage of eco design and energy labeling products affects the manufacturing process. For instance, the EU banned vacuum cleaner product with power over 1600W from being sold in the member countries. This limit will be reduced to 900W from September, 2017. In addition, the U.S. government under EPA and NHPA regulates the technical specifications for vacuum cleaners to prevent any damage due to the electrical motor used. From 2014, the specifications stated in EU eco design and energy labeling regulations must be met by the manufacturers for manufacturing and trading in the European Union.

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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

• Cordless/Stick
• Upright
• Canister
• Central
• Drum
• Wet/Dry
• Robotic

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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.

Browse Report Summery @ https://www.gminsights.com/industry-analysis/household-vacuum-cleaners-market

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.

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.

Contact Us

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com

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