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Cordless Vacuum Cleaner Market Size, Share, Growth, 2033
Cordless Vacuum Cleaner Market Size
As per the report, the cordless vacuum cleaners market size has grown strongly in recent years. It will grow from $7.71 billion in 2023 to $8.26 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The cordless vacuum cleaners market size is expected to see strong growth in the next few years. It will grow to $10.77 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
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Elevated Disposable Incomes Are Driving The Market Growth
Increasing disposable income coupled with growing consumer awareness about health & hygiene among the urban population is contributing to the cordless vacuum cleaners market growth. The rise in income levels of the populace is enabling people to spend more on health and hygiene products. For instance, in June 2022, according to a report published by the Bureau of Economic Analysis, a US-based government agency, personal income climbed by $113.4 billion, or 0.5 percent, on a monthly basis in May 2022. The amount of disposable personal income (DPI) rose by $96.5 billion (0.5%). Moreover, the growing awareness associated with the benefits of vacuum cleaners such as the convenience of portability, and time efficiency drives the global cordless vacuum cleaners market demand. This, in turn, boosts the revenues for cordless vacuum cleaners.
Advancements In Technology Reshape Consumer Experience In The Cordless Vacuum Cleaners Market
Major players are increasingly focusing on developing technologically advanced products to meet the demand from the consumers. The companies are growing emphasis on manufacturing next-generation vacuum cleaners with smart and cordless technology to improve consumer experience and make cleaning effortless. Additionally, the development of smart vacuum cleaners with battery sensing, floor-sensing, and filter-sensing technologies is a leading trend in the cordless vacuum cleaners market. For instance, in May 2022, Samsung, a South-Korea based electronics corporation, launched High-performance premium Jet™ Cordless Stick Vacuum Cleaners in India that Trap 99.999% of fine dust and allergens. It boasts a powerful digital inverter motor that optimises airflow with ultrasonic welded air foil blades for maximum efficiency. The Samsung JetTM is outfitted with a wide range of highly efficient motorised brushes that give a variety of cleaning options to suit various customer lifestyles, cleaning habits, and floor types.
The cordless vacuum cleaners market covered in this report is segmented -
1) By Product Type: Handheld , Canister, Upright, Stick, Other Product Types
2) By Distribution Channel: Offline, Online
3) By Application: Household, Commercial
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Major companies operating in the cordless vacuum cleaners market report are Samsung Electronics Co. Ltd., Robert Bosch GmbH, Panasonic Corporation, Midea Group Co. Ltd., Haier Group Corporation, Xiaomi Inc., LG Corporation, Koninklijke Philips N.V., Stanley Black & Decker Inc., AB Electrolux, Dyson Ltd., Makita Corporation, Brigii Tech Co. Ltd., SharkNinja Operating LLC, TTI Floor Care North America, Beko plc, BISSELL Homecare Inc., Taurus Group BV, Oreck Corporation, Miele & Cie. KG, iRobot Corporation, Kent RO Systems Ltd., Glen Dimplex Home Appliance Ltd., Hoover Inc., IPC Tools S.p.A., Neato Robotics Inc., Suzhou Puppy Pet Products Co. Ltd., Grey Technology Ltd.
Contents of the report:
1. Executive Summary
2. Cordless Vacuum Cleaners Market Report Structure
3. Cordless Vacuum Cleaners Market Trends And Strategies
4. Cordless Vacuum Cleaners Market - Macro Economic Scenario
5. Cordless Vacuum Cleaners Market Size And Growth
…..
27. Cordless Vacuum Cleaners Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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