The world household vacuum cleaners market is anticipated to witness steady demand during the forecast period on account of growing working population and the rise in consumer expenditure across the globe. Moreover, individuals are inclined towards technologically advanced products such as robotic vacuum cleaners due to their automatic operation & significant reduction in time, which would further fuel the demand.
Assistant Manager, Consumer Goods at Allied Market Research
Household Vacuum Cleaners Market Overview 2022-2031
According to a new report published by Allied Market Research, titled, “Household vacuum cleaners Market by Product, and Sales Type: Global Opportunity Analysis and Industry Forecast, 2021-2031,”The global household vacuum cleaners market was valued at $15,313.3 million in 2020 and is estimated to reach $29,133.8 million by 2031, registering a CAGR of 6.1% from 2022 to 2031.
Vacuum cleaner, a household appliance that uses suction to collect dust and small particles, is used for cleaning house floors and other surfaces. Today, the household vacuum cleaners gain a steady demand among customers due to concerns such as hygiene and improved living standards. Growing respiratory diseases due to dust and small particles fuel the sale of vacuum cleaners across the developed nations. Increase in population of tech-savvy consumers globally, especially in the Asia-Pacific region, has accounted for the increase in demand in the recent past. The countries in the Middle East and African region are expected to also witness increase in demand among middle to high income class households, seeking to adopt convenient and sophisticated solutions.
The household expenditure on consumer electronics products has increased in the recent past due to prosperous economic growth. The growing trend for dual income families and limited time for household chores are anticipated to fuel the market growth.
However, the increase in energy bills due to household appliances such as vacuum cleaners has limited the adoption of household vacuum cleaners among middle class consumers. The industry players focus on R&D to reduce the operation time and energy consumption.
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The COVID-19 outbreak has positively impacted the overall growth of the household vacuum cleaners market. During the lockdown period, people were actively involved in replacing the old household appliances with new and advanced appliances.
According to the household vacuum cleaners market analysis, the household vacuum cleaners market is segmented into product, type, sales type, and region. On the basis of product, the market is categorized into upright, canister, central, drum, wet/dry, robotic and others. On the basis of type, it is bifurcated into corded and cordless. On the basis of sales channel, it is segregated into online and offline. On the basis of region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Netherlands, Spain, Russia and Rest of Europe), Asia-Pacific (China, Australia, Japan, South Korea, India and Rest of Asia-Pacific), and LAMEA (Brazil, Argentina, UAE, South Africa, Saudi Arabia and Rest of LAMEA).
According to the household vacuum cleaners market trends, on the basis of product, the robotic segment was valued at $2,596.8 million in 2020 and is projected to reach $6,418.1 million by 2031, growing at a CAGR of 8.6% from 2022 to 2031. Robotic vacuum cleaners are projected to grow at a significant CAGR of 11.6% during the forecast period, due to their automation capabilities and innovative features. Moreover, the ongoing technological advancement is expected to reduce their prices during the forecast period, which is expected to increase demand further.
According to type, the corded segment was valued at $4,615.1 million in 2020 and is expected to grow at $9,586.3 million by 2031, registering a CAGR of 6.9% during the forecast period. The corded segment accounted for the significant share in the global household vacuum cleaners market in 2020 and is expected to increase its share during the forecast period. This was attributed to its higher suction power and longer run time after it is plugged into the mains unit. Thereby, corded vacuum cleaners have a higher capacity of collecting dust as compared to the cordless vacuum cleaners. Corded household vacuum cleaners need bigger storage space in homes and are more expensive than cordless, thus gaining significant household vacuum cleaners market share.
On the basis of sales type, the online segment was accounted for a considerable share in the global household vacuum cleaners market and is expected sustain its share during the forecast period. Online mode of sale gains popularity globally due to the growing e-commerce market in both developed and developing countries. The availability of products at competitive prices attracts customers towards e-commerce. Sales of vacuum cleaners via the online mode is moderate nowadays, however its share is expected to grow in the future with improving consumer-shopping experience through e-commerce.
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According to the household vacuum cleaners market opportunities, by region, North America has been gaining considerable share in household vacuum cleaners and is expected to sustain its share throughout household vacuum cleaners market forecast period. Technological advancement and high adoption rate for new technology are major attributes that drive the North America household vacuum cleaners market growth. The technological advancement in vacuum cleaners have made operation more user friendly. Since its invention, market players have invested significantly to reduce noise, increase battery backup, and reduce size. Robotic vacuum cleaner is the major advancement in the market, which is gaining widespread adoption among the consumers due to the convenience offered by them.
The players operating in the household vacuum cleaners industry have adopted product launch and business expansion as their key developmental strategies to expand market share, increase profitability, and remain competitive in the market. The key players profiled in this report include Bissell, Inc., Dyson Ltd., Electrolux AB, Haier, Electronics Group Co., Ltd., iRobot Corporation, Koninklijke Philips N.V., LG Electronics, Inc., Miele & Cie. KG, Panasonic Corporation, and Samsung Electronics Co., Ltd.
Key Findings Of Study
- The household vacuum cleaners market size was valued at $15,313.3 million in 2020, and is estimated to reach $29,133.8 million by 2031, registering a CAGR of 6.1% from 2022 to 2031.
- In 2020, depending on product, the central segment accounted for $1,110.0 million, garnering 7.2% of the global market share.
- On the basis of type, the cordless segment acquired $10,698.20 million, exhibiting 69.9% of the global market share.
- In 2020, by sales type, the offline segment was valued at $10,735.3 million, accounting for 70.1% of the market share.
- China was the most prominent market in Asia-Pacific in 2020, and is projected to reach $3,089.3 million by 2031, growing at a CAGR of 6.7% during the forecast period.
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FREQUENTLY ASKED QUESTIONS?
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