Global Household Vacuum Cleaners Market to Rake in Nearly US$14.6 bn by 2018

The key players operating in the global household vacuum cleaners market are TTI Floor Care, Dyson, Stanley Black & Decker, Electrolux Group, LG Electronics, Haier Group, Eureka Forbes, Miele, and Panasonic Corporation.

The featured report, titled “Household Vacuum Cleaners Market – Global Industry Analysis, Size, Share And Forecasts 2012 – 2018”, from Transparency Market Research (TMR) offers a 360-degree view of the global household vacuum cleaners market. According to the report, the global household vacuum cleaners market will progress at a 4.90% CAGR during the forecast period from 2012 to 2018. In 2012, the global household vacuum cleaners market was estimated at US$11.0 bn and by 2018, the market is projected to be worth US$14.6 bn.

The two key drivers of the global household vacuum cleaners market are the rising disposable income levels and advancement in technology. Rising disposable income is encouraging consumers to invest significantly in advanced home appliances in order to improve their lifestyles. Furthermore, the growing awareness about the benefits of using vacuum cleaners is rapidly encouraging households to invest in appliances that fulfill their cleaning needs. Advancement in technology has led to effective and affordable household vacuum cleaners. This had led to consumers increasingly replacing traditional brooms with advanced household vacuum cleaners and other related equipment.

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In addition to this, innovation in the global household vacuum cleaners market will also be fueled by the growing demand for eco-friendly and energy-efficient household vacuum cleaners. Besides in-depth analysis of these key drivers, the study also offers analysis of the key constraints on the global household vacuum cleaners market. It studies the threat of new entrants and from substitutes and the rivalry among existing competitors, which will challenge the growth of the global household vacuum cleaners market.

Product-wise, the global household vacuum cleaners market is divided into wet/dry vacuum cleaners, drum vacuum cleaners, robotic vacuum cleaners, central vacuum cleaners, canister vacuum cleaners, upright vacuum cleaners, and other vacuum cleaners such as handheld and stick vacuum cleaners. In 2012, the global household vacuum cleaners market was dominated by the segment of canister household vacuum cleaners, which held a 35% share in the global household vacuum cleaners market and is projected to continue its dominance during the forecast period. The robotic household vacuum cleaners segment is projected to enjoy significant growth in the coming few years due to innovations such as acoustic sensors, automated mapping capacities, self-charging cleaners, and sweeping brushes.

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According to retail selling price, the global household vacuum cleaners market is segmented into those costing less than US$200 and over US$200. Dyson dominates the segment of household vacuum cleaners costing more than US$200 in the global market.

Region-wise, the global household vacuum cleaners market is classified into Asia Pacific, Europe, North America, and Rest of the World (RoW). Asia Pacific dominated the global household vacuum cleaners market with a 30.5% share in 2012 and will continue to be the market leader during the forecast period. The Asia Pacific household vacuum cleaners market is driven by the rapid urbanization in nations such as Malaysia, China, India, South Korea, and India. In these countries, consumers are increasingly able to afford vacuum cleaners, driving the APAC household vacuum cleaners market.

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