PUBLISHER: SkyQuest | PRODUCT CODE: 1165256
PUBLISHER: SkyQuest | PRODUCT CODE: 1165256
Global Vacuum Cleaner Market size was valued at USD 11.47 billion in 2021, and it is expected to reach a value of USD 22.06 billion by 2028, at a CAGR of 9.8% over the forecast period (2022-2028).
One of the major component determining the demand for vacuum cleaners is the reduction in the time required to compelete house chores during Work from Home (WFH) paradigm. Other drivers driving the market's expansion globally include a growing working population, changing lifestyles, increasing disposable incomes, rising purchasing power, and convenience of use. It is also anticipated that the advancement of robotic vacuum cleaners, that can clean an area without human intervention, will benefit the market and spur market expansion.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Vacuum Cleaner Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Segments covered in this report:
The global vacuum cleaner market has been segmented based on application, distribution channels, and region. Based on application, the market is segmented into industrial, residential, and commercial. Based on the distribution channels, the market is segmented into online and offline. Based on region, the vacuum cleaner market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Driver
The majority of Modern vacuum cleaners. cleaners can be used to quickly and easily completed with the help of modern complete most cleaning jobs may now jobs. A newly growing market for novel cleaning tools of all sizes is influencing producers to create goods equipped with cutting-edge technology.
Restraint
The affordability problem with high-end vacuum cleaners has been impacted by their high cost. In developing nations like India, China, the middle class cannot afford these vacuum cleaners. Additionally, a major hindrance to the global market for household vacuum cleaners is expensive maintenance costs.
Market Trends
Partnerships, innovation, and improvements for vacuum cleaners are expected to open new growth and expansion prospects. Eco-friendly vacuum cleaner development is a top priority for manufacturers. The biggest opportunity for home vacuum cleaner market players appears to be investing in artificial intelligence, integrated IoT technology, robots, and improvements in vacuum cleaners including air filter technology, UV sterilization, and security cameras by suppliers.