Household Vacuum Cleaners Market Focuses On Top Manufacturers - Dyson, Electrolux, Eureka Forbes Ltd, Haier, LG Corp., Miele, Nilfisk, Stanley Black & Decker, Inc., Vax Ltd
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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.
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.
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The stick vacuum cleaners demand is increasing owing to its benefits such as convenient alternative for full-d heavy vacuum cleaners. These vacuum cleaners provide ease of mobility and handling, specifically for homes with kids, pets, and other mess causing elements. These vacuum cleaners are used as a supplementary to the upright vacuum cleaners. Its application in cleaning small apartments, home or cabin makes the product more useful for limited cleaning areas. Moreover, ability to be converted into handheld vacuums for dusting stairs and cars.
According to U.S. Energy Information Administration (EIA), annual average cost of residential electricity will increase by 3% in 2017 and 2.4% by 2018. As per Institute of Energy Research (IER), U.S. residential electricity prices has increased by 34% between 2005 to 2015. Vacuum cleaners with high power consumes more electricity and increase the power bill. Increasing price in residential electricity discourage the consumers to buy appliances. This decreases the vacuum cleaners buying decision and negatively affect the household vacuum cleaners market growth.
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Key participants in the industry include Dyson, Electrolux, Eureka Forbes Ltd, Haier, LG Corp., Miele, Nilfisk, Oreck Corporation, Panasonic, Philips, Samsung Electronics, Stanley Black & Decker, Inc., Vax Ltd. The household vacuum cleaners market is characterized with innovative product development and mergers & acquisitions.
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