Market For Industrial Vacuum Cleaners Is Anticipated To Expand At A CAGR Of 5.2 Percent.

At a CAGR of 5.2 percent from 2022 to 2028, the market for industrial vacuum cleaners is projected to grow from an estimated US$ 569.1 Mn in 2022 to US$ 771.2 Mn by 2028. Sales of industrial vacuum cleaners currently account for 20% of the global vacuum cleaner market. Pneumatic industrial vacuum cleaners are anticipated to account for about 50% of the market for industrial vacuum cleaners during the assessment period of 2022 to 2028.

In its recently published report on the global industrial vacuum cleaners market, Future Market Insights (FMI), a multinational market intelligence company, provides a thorough analysis of the demand-supply landscape in addition to some important, immediately useful insights into the category pricing analysis.

Growing global concern towards occupational safety and health combined with stringency in regulations ensuring the same are the two critical factors likely to push industrial vacuum cleaners sales in the next few years.

Although the global industrial vacuum cleaners market is expected to expand at a steady growth rate of approximately 5.1 per cent in 2019, it is estimated that post-2023, the global industrial vacuum cleaners market may witness a steep fall considering growing overall procurement expenditure arising from import tariff duties on raw materials.

In terms of volume sales, approximately 90,800 Units are likely to be shipped in 2019, representing a relatively moderate CAGR during 2022-2028-the timeline considered in the scope of the study.

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While the food & beverage and pharmaceutical industries will remain the two prominent large-scale end-users of industrial vacuum cleaners, demand in construction, metal working, and automotive industries will also grow at a significant rate, in the coming years.

Applications of industrial vacuum cleaners in the automotive segment are estimated to grow owing to strong demand from the Asia Pacific region, as per the report.

Sales May Suffer from Fluctuating Raw Materials Prices

"FMI perceives increasing prices of raw materials such as aluminium and steel as a critical market growth restrainer. Several end-use industries, specifically in developing markets are still dependent on manual cleaning equipment. The estimated cost breakdown of an industrial vacuum cleaner by components indicates that the electric or pneumatic system parts of the operation remain the highest, accounting for approximately 24 percent of the total cost of the product. The high price associated with industrial vacuum cleaners slows down the sales of the equipment. Since the utilization of industrial vacuum cleaners is based on the degree of customization incorporated in the equipment, small and medium industries prefer adopting manual cleaning equipment versus industrial vacuum cleaners",

Senior Analyst, Future Market Insights. In addition, the low adoption of industrial vacuum cleaners is mainly attributed to a lack of awareness among consumers related to improper disposal of waste generated and the high initial cost of the products.

Stringency in Workplace Safety Regulations to Drive Demand

Several workplace regulations demand the installation of industrial vacuum cleaners for a variety of applications-ranging from heavy blast materials, grain handling, and pit cleaning to combustible dust collecting.

The demand for industrial vacuum cleaners is anticipated to increase given that most deaths and injuries occur in confined work spaces, during cleaning, maintenance, and inspection procedures, as recorded by Occupational Health and Safety Administration (OSHA).

In addition, in compliance with grades of dust classes, companies in the industrial vacuum cleaners landscape are manufacturing products with higher suction capabilities and improved filter designs.

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Design and Technological Innovations to Drive Sales; APEJ to Offer Installation Opportunities

• Several industrial vacuum cleaner manufacturers are focusing on developing innovative products-in terms of capacity and capability. Ranging from super-sized robot industrial vacuum cleaners for airports, equipped with large-capacity canisters along with multi-brushes and motors to 'smarter' variants having cameras and obstacle-detecting sensitive bumpers and sensors using LIDAR (Light Detection and Ranging) and Simultaneous Localization and Mapping (SLAM) technology for effective location tracking-such advancements are predicted to increase the adoption of industrial vacuum cleaners in the coming years.

• Adoption rate of industrial vacuum cleaners is anticipated to remain promising in emerging markets of APEJ, considering shifting production sites to low-cost facilities. APEJ will remain the most preferred centre for global companies to set up manufacturing facilities, translating into the faster replacement of manual cleaning equipment. GCC countries, on the other hand, are projected to restrict dependence on oil by equipping the cleaning equipment with IoT sensors.

Insights from Segmental Analysis

• Based on the current market scenario, canister-type industrial vacuum cleaners will dominate the landscape, with approximately 55 percent market share. Better manoeuvrability combined with superior capacity and efficiency compared to upright and backpacks makes canister-type industrial vacuum cleaners extremely versatile and capable of cleaning numerous surfaces. However, FMI foresees growing demand for the other two variants, specifically in smaller work areas.

• based on the mode of operation, although Electric industrial vacuum cleaners will dominate in terms of value and volume sales, with approximately 78 percent market share, the Pneumatic mode type is anticipated to represent a promising demand landscape in the coming years, given its simplistic designs and higher efficiency compared to electric variants.

• Portable industrial vacuum cleaners, by system type, will remain at the forefront due to their suitability in tight spaces, versus stationary systems.

• Application of industrial vacuum cleaners for heavy-duty cleaning processes will generate maximum revenue, specifically in extensive food & beverage and pharmaceutical applications. The explosion-proof segment is estimated to capture around one-third of the total market value by 2028-end.

Competitive Landscape Analysis:

In a nutshell, the key focus remains on consolidation efforts in the highly competitive industrial vacuum cleaners market, as small and medium-sized manufacturers dominate the landscape.

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• Tier-1 companies, such as Alfred Kärcher GmbH & Co. KG, Nilfisk, Inc., TTI Floor Care North America, and DELFIN are expected to hold a relatively larger market revenue slice, given the expansive product portfolio and efficient distribution channels.

• Tier-2 companies, on the other hand, hold approximately 33 per cent market share, showing strong dominance over regional markets. Such companies include Numatic International Ltd., G. Staehle GmbH u. Co. KG, and Ghibli & Wirbel SpA, among others.

• Key manufacturers of industrial vacuum cleaners are projected to focus on price reduction, wider product offerings, and long-term distribution partnerships for a stronger local presence.

• Considering substantial revenue opportunities in China, India, and SEAP, manufacturers are likely to aggressively push products in these markets through a well-structured and efficient supply chain along with an improved retailing network.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

This release was published on openPR.