02-09-2017 07:56 AM CET - Fashion, Lifestyle, Trends

Household Vacuum Cleaner Market to Reach US$14.6 bn Driven by Demand for Better and More Convenient Living

Press release from: Transparency Market Research

Vacuum cleaners are devices that suck up dust and dirt from floors, rugs, and other surfaces such as drapery and upholstery using an air pump. Some of the older models of vacuum cleaners are inbuilt with a centrifugal pump in place of newer air pumps. The dust thus sucked in by the machine is then collected by a dust bag for later disposal. Due to the intrinsic benefits of these machines and the convenience they offer, vacuum cleaners are rapidly replacing traditional brooms and other indigenous cleaning techniques. The TMR report presents a granular analysis of the various drivers encouraging the uptake of these modern devices and factors dampening the market’s growth.

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The report has pegged the overall value of the global household vacuum cleaners market at US$11.0 bn in 2012. Rising at a steady CAGR of 4.90%, the market is expected to reach US$14.6 bn by the end of 2018. The increasing disposable income of consumers in emerging nations and the subsequent demand for better hygiene and living standards are the key factors boosting the uptake of household vacuum cleaners. The market will also significantly gain from the development of novel technologies and improvements introduced to enhance device performance.

By product type, the report has segmented the market into upright, canister vacuum cleaners, central, wet/dry, drum, robotic, and other vacuum cleaners (such as stick operated and handheld). Of these, the canister vacuum cleaner segment led the market in 2012, accounting for a share of 35% in the market. The same year, the segment stood at a valuation of US$4.21 bn. As per the report, the demand for canister vacuum cleaners is expected to remain high through the forecast period. The market is also expected to witness the demand for robotic vacuum cleaners rising at an impressive pace.

The most prominent companies operating in the market are focusing on introducing eco-friendly vacuum cleaners that are more compact and easier to operate. Such upgrades in the technology are intended to woo prospective customers. This, however, intensifies the already prevailing competition in the market. The report profiles companies such as Miele, TTI Floor Care, Bissell, and others to present a holistic overview of the prevailing competitive landscape. The impact of the latest business strategies on their growth trajectory has also been examined in the report in detail.

Regionally, the global household vacuum cleaners market was dominated by Asia Pacific in 2012 with a share of 30.5% in the overall market. Owing to the rapid urbanization witnessed in emerging economies such as India, South Korea, China, Malaysia, and Indonesia, the household vacuum cleaner market in Asia Pacific is expected to remain the largest in the world through the report’s forecast period. In terms of retail selling price, the market is bifurcated into price more than US$200 and price less than US$200. Factors influencing demand for either segments are studied in detail.

For the purpose of the study, the report segments the market as:

By product type
Upright vacuum cleaners
Canister vacuum cleaners
Central vacuum cleaners
Robotic vacuum cleaners
Drum vacuum cleaners
Wet/dry vacuum cleaners
Other vacuum cleaners (Handheld, stick etc)

By retail selling price
Price less than USD 200
Price more than USD 200

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Transparency Market Research is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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