Global Market for Household Vacuum Cleaners is Forecast to Reach US$11.4 Billion and 115.7 Million Units by 2020
Rising Standards of Living & Emphasis on Hygiene
Drive the Household Vacuum Cleaners Market, According to New Report by Global
Industry Analysts, Inc.
GIA announces
the release of a comprehensive global report on Household Vacuum Cleaners markets.
Global market for Household Vacuum Cleaners is
forecast to reach US$11.4 billion and 115.7 million units by 2020,
driven by growing emphasis on managing indoor air pollution.
World
population is increasing rapidly, a trend that translates into potential growth
in demand for household vacuum cleaners, which are electrical devices that create
partial vacuum in order to suck dirt and dust from floors and surfaces. Demand
for household vacuum cleaner globally can be closely correlated with the
increase in population. Growing global population and the ensuing rise in urban
settlements brings to fore the need for effective cleaning solutions.
Technologically advanced household vacuum cleaners are being perceived as the
most convenient and efficient means to obtain desired cleaning results in an
era of busy and rapidly changing consumer lifestyles. Growth in the global
population is more skewed towards emerging markets, with Asia alone accounting
for a majority of the addition. As a result, growth remains tilted heavily in
favor of emerging regions.
The market for
vacuum cleaners is more globalized, as compared to laundry and kitchen
appliances. A large number of vacuum cleaners available in the market today are
manufactured in low-cost developing nations. Growing affluence of the
middle-class population is a major factor encouraging people to invest in
advanced home appliances to upgrade their lifestyles. Rising awareness
regarding benefits of using vacuum cleaners is influencing households to
purchase advanced vacuum cleaners to meet their routine cleaning needs.
To withstand competition
and price sensitivity of cost wary consumers, manufacturers are focusing on developing
low cost yet technologically advanced vacuum cleaning solutions. Especially
poised to gain are vacuum cleaners that make use of high efficiency particulate
air (HEPA) filtration technology. Vacuum cleaners equipped with standard
filters spread dirt and dust in air and are also incapable of trapping fine
particles such as pet dander or pollen. Vacuum cleaners fitted with HEPA filters,
on the other hand, provide compact and effective cleaning. Shift to bagless
vacuum cleaning devices is another noteworthy trend in the market. Consumers are
also seeking robotic vacuum cleaners that can automatically perform cleaning tasks
with higher efficiency and in lesser time.
As stated by
the new market research report on Household Vacuum Cleaners, Europe represents
the largest market worldwide in terms of dollar sales. Asia-Pacific ranks as
the largest and the fastest growing market in terms of unit sales. The region
is projected to grow at a compounded annual rate of 5.6% and 5.0% in terms of
value and unit sales respectively, driven by rising standards of living,
increasing disposable income, growing emphasis on hygiene and increasing need
for efficient and quick cleaning solutions.
Major players
covered in the report include AB Electrolux, BISSELL, BSH Bosch und Siemens
Hausgeräte GmbH, Dongbu Daewoo Electronics Corporation, Dyson Ltd., Emer
Vacuums USA, Eureka Forbes Ltd., Groupe SEB, Haier Group, Hitachi Appliances
Inc.,iRobot
Corporation, Koninklijke Philips NV, LG Electronics, Morphy Richards, Neato
Robotics, Panasonic Corporation, Samsung Electronics Co Ltd., Stanley Black
& Decker Inc., Techtronic Industries Co Ltd., TTI Floor Care North America,
Vax Ltd. and Toshiba Home Appliance, among others.
The research
report titled “Household
Vacuum Cleaners: A Global Strategic Business Report” announced by Global Industry Analysts
Inc., provides a comprehensive review of market trends, growth drivers,
regulations, issues, challenges, mergers, acquisitions, and other strategic
industry activities of major players worldwide. The report provides market
estimates and projections in dollars and units terms for all major geographic
markets including the US, Canada, Japan, Europe (France, Germany, Italy, UK,
Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea and
Rest of Asia-Pacific), Middle East and Latin America (Argentina, Brazil, Chile,
Mexico and Rest of Latin America).
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