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Household Vacuum Cleaners Market - Evolutionary Trend to Step Ahead in Packaging Industry - Forecast 2018
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The global market for household vacuum cleaners was valued at USD 11.0 billion in 2012 and is expected to grow at a CAGR of 4.9% during the forecast period from 2012 to 2018.
The demand for advanced technology vacuum cleaners, using high efficiency particulate air (HEPA) filtration technology, is increasing globally. Vacuum cleaners with standard filters spread dirt and dust in air and are also not able to trap fine particles such as pet dander or pollen. As against this, vacuum cleaners equipped with HEPA filters offer compact cleaning solutions which prevent allergens from invading lungs and are thus gaining more importance. According to the World Health Organization (WHO), about 300 million people suffer from asthma globally and this count is expected to reach 400 million by 2015. Rising electricity prices is the major inhibiting factor for growth of the household vacuum cleaners market as these appliances consume a lot of electricity.
Canister vacuum cleaners are more expensive as compared to other types of popular vacuum cleaners such as upright vacuum cleaners and robotic vacuum cleaners. However, they provide a better cleaning experience. Robotic vacuum cleaners are gaining popularity among households in developed regions, namely North America and Europe.
Asia-Pacific dominates the global household vacuum cleaners market and held a share of xx% in 2012. It is expected to maintain its leading position through the forecast period from 2012 to 2018. In North America and Europe, the replacement demand is high as households are replacing their traditional vacuum cleaners with eco-friendly and energy efficient products. Household vacuum cleaners in Latin America and Middle East are also expected to gain popularity due to increased awareness about their benefits.
The household vacuum cleaners market is moderately fragmented and competition varies on a regional basis. Electrolux is the conventional leader in the global household vacuum cleaners market. Dyson is the leading player in the expensive vacuum cleaners segment, with retail selling price more than USD 200. iRobot dominates the global robotic vacuum cleaner market and accounted for more than two third market share in 2011. Some other key players in this industry include Miele, Bissell and TTI Floor Care.
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